Electric Traction Motor Market Size, Share, Growth Report 2030

The global Electric Traction Motor market will register a CAGR of over 20% during the period from 2020 to 2026. The report offers assessment and analysis of the Electric Traction Motor market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Details of the Report:

Introduction

Electric traction motor is a kind of motor operated with the use of electricity. Furthermore, it is utilized in driving of automobiles including electric cars and railways. It provides myriad advantages including quick start & stop, no fuel emission, and easy to use.

Moreover, the product is considered to be a kind of industrial motors requiring huge acceleration or deceleration rate, low-torque high –speed cruising, high torque low-speed hill-climbing, and a wide array for operating velocities.

Market Growth Dynamics

The growth of the electric traction motor industry during the forecast timeline is due to escalating popularity of high-performing motors, supportive government laws, and subsidies. In addition to this, a surge in the funding in railway industry will prompt the expansion of electric traction motor market over the years ahead.

Apparently, mounting acceptance of electric cars as well as hybrid vehicles in the developed economies will impel the market growth over the forecast timeline. With the electric vehicles slated to rise to nearly over 20% by 2030, the market for electric traction motor is likely to gain traction over the forecast timespan.

Asia Pacific To Account For Major Market Revenue During 2020-2026

The growth of electric traction motor industry in Asia Pacific zone during the forecast timeline can be credited to largest number of trains and railway routes connecting many stations & states in the countries such as India. Apart from this, growing demand for electrification and bulge in the funding of electric cars will prompt the regional market growth. Additionally, a prominent increase in the number of bullet trains in China and Japan will proliferate the industry growth in the Asia Pacific zone. Furthermore, rise in the number of metro trains as well as local trains in the countries like India will fuel the market size in the region. Furthermore, government is focusing on introducing more electric vehicles with the aim of reducing carbon footprints, thereby promoting the market growth in the region.

Key players profiled in the report include Alstom, ABB, Bosch, CRRC, Siemens, TSA, and WEG.

The global electric traction motor market is segmented as follows:

By Type

• AC
• DC

By Power Rating

• <200 kW
• 200 kW to 400 kW
• >400 kW

By Application

• Railway
• Electric vehicles
• Others (Elevators, conveyors, and industrial machinery)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa