SOUTHFIELD, MI—Rapid expansion in the electric traction motor market is on the horizon, driven by growing demand for e-axles and evolving technologies. A new report by S&P Global Mobility forecasts a fourfold increase in the e-motor market in the next 12 years, with expected production of more than 120 million motors by 2034.
Emerging technologies, such as e-beam axles that integrate motors and gearboxes, are gaining attention from companies that produce pickup trucks and vans.