Electric Traction Motor Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2024

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Report Code: ZMR-3235 | Report Format : | Status : Upcoming |

Abstract

Global Electric Traction Motor Market: Overview

Traction motor is a type of electric motor. Electrical traction is defined as the system that uses electrical power for traction system such as railway, trams, and trolleys. Furthermore, electric traction means locomotion in which the driving force is obtained from electrical motors. An electric traction motor is utilized to make rotation torque on a machine. It is used in electrically powered rail vehicles such as electric multiple units and electric locomotives.

Global Electric Traction Motor Market: Growth Factors

The global electric traction motor market is driven majorly by factors such as increasing investments in the railway sector and growing demand for energy-efficient motors. Furthermore, unstable fossil fuel prices, emission norms, and environmental regulation are some of the factors expected to boost the market growth during forecast period. However, price volatility of raw materials such as copper and aluminum and safety and reliability concerns are major factors hindering the market growth. Growing focus on electric vehicles in order to reduce carbon emissions is expected to create a significant opportunity for market players to boost growth of the market over forecast period. A motor failure due to overheating is one of the major challenges faced by market players.

Global Electric Traction Motor Market: Segmentation

The global electric traction motor market is segmented on the basis of power rating, type, application, and region. In terms of power rating, the market is segregated into <200 kW, 200 kW to 400 kW, and >400 kW. Based on type, the market is bifurcated into AC traction motor and DC traction motor. Furthermore, based on application, the market is fragmented into railway, electrical vehicles, and other applications. The railway segment is further segregated into locomotive, rapid transit vehicles, and railroad cars. Moreover, electrical vehicle segment further divided into hybrid electric vehicles, battery electric vehicles, plug-in hybrid vehicles, and fuel cell vehicles.

Global Electric Traction Motor Market: Regional Analysis

Asia Pacific holds largest market share and dominates the electric traction motor market during the forecast period. The primarily factors driving the growth of the market are rising urbanization and proliferation of electrification, demand from the railway sector and supportive government plans. China, India, and Japan are the leading countries contributing to the market growth observed in Asia Pacific. Europe region holds significant market share and is expected to dominate the global electric traction motor market in terms of revenue contribution. In European region, Germany is leading country contributing to the growth of the market. The market is mainly driven by factors such as the gradual shift from diesel-based to diesel-electric locomotives and electric locomotives. Government initiatives towards improvement of the transportation system, especially railway sectors fuels the growing demand for the market. The market is growing at a good pace in countries such as India, Australia, and South Korea owing to increasing investment in railway projects, especially related to high speed rail and metro trains.

Global Electric Traction Motor Market: Competitive Players

Some of the important key players of the global electric traction motor markets are CRRC, Alstom (France), TSA, CG Power, Siemens, General Electric (GE), Skoda Electric, ABB, Benchmarking, Toshiba, Weg SA, and Bosch, among others.

Global Electric Traction Motor Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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