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Global electric traction motor market was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during a forecast period.
Growing investments in the railway sector, high demand for effective motors for propulsion application, and rising focus on electric vehicles to condense carbon emissions are driving the market for electric traction motor across the globe. The electric traction motor market is also increasing at a good step in countries includes India, Australia, and South Korea owing to growing investment in railway projects, specifically related to high speed rail and metro trains. Furthermore, fluctuation in the price of raw materials such as copper and aluminium is expected to limiting the growth in the electric traction motor market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The innovation of passenger railcars is expected to gain impulse because of the increasing focus of rolling stock manufacturers, railroad companies, and government authorities to invention solutions for the stable increase in railway traffic across emergent and developed countries. In order to sustenance air conditioners, vehicles might reasonably increase their power consumption and ultimately raise the demand for electric traction systems.
The objective of the report is to present a comprehensive assessment of the global electric traction motor market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in global electric traction motor market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
AC motor is the most favoured type. AC motors offer advantages includes it is simple for manufacturing as this type necessitates no mechanical contracts for its functioning, lighter equated to DC motors for an equivalent amount of power. Usage of modern and advanced electronics permits the AC units to be meticulous efficiently to expand traction and adhesion. It can be measured with microprocessors to a precise degree which also helps in redeveloping current down to stop. DC regeneration declines quickly at low speeds. Furthermore, AC motors are robust and easier to sustain than DC motors. These products are most widely used in many applications such as electric vehicles, conveyors and industrial machinery in the present industry space. It automobiles sectors, AC motors have a higher share of application. These are the factors, which are expected to increase demand for AC motor.
The railway segment is estimated to share major contribution in the global electric traction motor market. The growth in the market is attributed to the increasing infrastructure of a railway across the globe. A growing focus on speed control and high starting torque essential by rail vehicles and the increasing investment in rolling stock are the major drivers for the railway applications segment.
The Asia Pacific is expected to lead global electric traction systems market, which is also projected optimistic sign for the region to continue its dominance during the forecast year. Increasing development of the transportation infrastructure, which includes railway connections, hybrid electric vehicles, high-speed bullet trains, and metro rail systems are expected to boost the global electric traction systems market in this region. Increasing demand for rolling stock for narrow gauge and industrial railways, including diesel-electric, hybrid, and electric locomotives during forecast year is expected to contribute major market share by positive development of the electric traction systems.
The Scope of the Report Global Electric Traction Motor Market
Global Electric Traction Motor Market, By Type
Global Electric Traction Motor Market, By Power Rating
• 400 kW
Global Electric Traction Motor Market, By Application
• Electric Vehicle
• Industrial Machinery
Global Electric Traction Motor Market, By Geography
• North America
• Asia Pacific
• Middle East & Africa
• South America
• Schneider Electric SE
• The Curtiss-Wright Corporation
• Prodrive Technologies
• Toshiba Corporation
• General Electric Co.
• CG Power and Industrial Solutions Ltd.
• ABB, Ltd.
• Alstom S.A.
• Siemens AG
• Delphi Automotive LLP
• Voith GmbH
• Mitsubishi Electric Corporation
• Bombardier Inc.
• American Traction Systems
• VEM Group
• Caterpillar Inc.
• TTM Rail - Transtech Melbourne Pty Ltd.
• Kawasaki Heavy Industries Ltd.
• Traktionssysteme Austria GmbH
• Hyundai Rotem Company
• Hitachi, Ltd.
• Ansaldo Signalling
• Magna International
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