Electric Commercial Vehicle Traction Motor Market worth $9.8 billion | MarketsandMarkets™ [Yahoo! Finance]
Tata Motors Ltd Tata Motors Limited (TTM)
US:NYSE Investor Relations:
tatamotors.com/investor/volumes
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Source: Yahoo! Finance
2024 and is poised to reach $9.8 billion by 2030, growing at a CAGR of 28.8% from 2024 to 2030 according to a new report by MarketsandMarkets™. The traction motor of an electric commercial vehicle (ECV) is the driving force behind a new era of transportation, embodying efficiency, sustainability, and innovation. As the world pivots towards electrification to combat climate change and reduce dependency on fossil fuels, ECV traction motors play a pivotal role in powering electric commercial vehicles, ranging from trucks, vans, pickup trucks to buses. These motors leverage cutting-edge technologies in motor control and power electronics to deliver optimal performance while minimizing energy consumption and emissions. With the growing adoption of electric vehicles across various industries, the ECV traction motor market is experiencing exponential growth, fueled further by supportive government policies, cost competitiveness, and a global commitment to building a greener future. Downl
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