Electric Vehicle Traction Motor Market

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The global electric vehicle (EV) traction motor market

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An EV traction motor is an electric motor that drives the wheels of an electric vehicle. [{ "selector": ".sedji-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }]

The global electric vehicle (EV) traction motor market is expected to grow at a CAGR of 25% during the forecast period (2023-2033), [{ "selector": ".gbpbr-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 26px))", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }]

reaching a market size of USD 93.72 billion by 2033. [{ "selector": ".qdjst-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

This growth is being driven by a number of factors, including:

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*Increasing demand for EVs *Rising fuel prices *Technological Advancements [{ "selector": ".ezxzw-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }]

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