Electric Traction Motor Market:
As per the GMI Research’s latest analysis, Global Electric Traction Motor Market reveals that the market is slated to register a higher CAGR over the forecast period. This is mainly attributed to the railway industry’s growing expenditure and various supportive government subsidies and regulations.
Electric Traction Motor Market’s leading Manufacturers:
- American Traction Systems
- ABB
- Robert Bosch GmbH
- AMETEK, Inc.
- CG Power and Industrial Solutions Limited
- GE
- CRRC Corporation Limited
- Hitachi, Ltd.
- Johnson Electric
- Nidec Corporation
Electric Traction Motor Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The growing expenditure on the railway industry and various supportive government subsidies and regulations are the major factors accelerating the growth of the global electric traction motor market size. The rapid technological advancements and the rising research and development activities for the development of advanced and effective electric traction motor are certain factors that are projected to surge the growth of the global electric traction motor market. Moreover, the growing electrification in the railways and the strong demand for electric vehicles across various countries to the increasing concerns associated with carbon emissions will open doors for the growth of the market.
The introduction of an electric traction motor provides remarkable benefits, including the capability to decrease the usage of electricity, better efficiency, and less need for maintenance. The growing focus towards the speed railways and the increasing metro rail network has led to an upsurge in the adoption of the electric traction market. On the other hand, the high cost needed for the manufacturing and designing of the motor and the challenge regarding the overheating of the motor will hinder the market growth.
Application Segment Drivers
Based on the application, the railways is projected to increase at a faster CAGR in the upcoming years owing to the increasing electrification in the rail routes and development in railroad technologies. Furthermore, the increasing launch of electric traction motors due to the capability to raise the efficiency range of the railway systems, smooth start with reduced shocks, followed by the ability to meet the needed speed control and protection from the risk of breakdowns & overload of railway engines will further propel the growth of the market.
Regional Drivers
Based on the region, Asia-Pacific is expected to dominate the market over the coming years due to the high adoption of electric vehicles due to the increasing concerns associated with carbon emissions. Moreover, the growing metro rail network, growing emphasis on electrification, and rapid urbanization will further boost the market growth.
Electric Traction Motor Market Segmentation:
Segmentation by Type:
- DC Electric Traction Motor
- AC Electric Traction Motor
Segmentation by Power Rating:
- <200 KW
- 200-400 KW
- >400 KW
Segmentation by Application:
- Electric Vehicles
- Hybrid Electric Vehicles
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicles
- Fuel Cell Vehicles
- Railway
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
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