A latest report from Absolute Markets Insights covers insights into the global Electric Traction Motors market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Electric Traction Motors market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Electric Traction Motors report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Electric Traction Motors report also shows a new uptrend that includes market conditions and market forecast 2022-2030.
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Some of the major players operating in the global Electric Traction Motors market include: ABB, American Traction Systems, CG India, CRRC YONGJI ELECTRIC CO., LTD., General Electric, Hitachi, Ltd., Indar Ingeteam Group, NIDEC CORPORATION, Robert Bosch GmbH, Siemens Mobility and WEG. among others.
In terms of revenue growth, the global electric traction motors market is expected to witness a CAGR of 18.3% over the forecast period.
The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.
Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Electric Traction Motors Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.
Key insights from the report:
- The report provides key statistics on the market status of Electric Traction Motors Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
- The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
- The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
- The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
- The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
- Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
- The report makes some important proposals for a new project of Electric Traction Motors Market before evaluating its feasibility.
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Covid-19 cumulative impact:
This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Electric Traction Motors Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Electric Traction Motors Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.
Key questions answered in this report:
- What will the market size and growth rate be in 2030?
- What are the key drivers of the global market?
- What are the key market trends impacting the growth of the global market?
- What are the market growth challenges?
- Who are the key vendors in the global market?
- What are the global market opportunities and challenges for sellers?
- What are the key findings of the global five-point analysis of the Electric Traction Motors market?
Electricity is considered as one of the key inventions in human history. The widespread applications of the technology have been beneficial for the investments and research initiatives related to the concept. Numerous devices and components have been developed in order to expand the applications of electricity across various industry verticals. In addition to this, the integration of electrical devices in consumer technology has also opened up an industry of its own. One of the notable devices developed under the technology is the electric traction motor. The initial designs for traction motors can be traced back to the late 1800s in the work of Frank J. Sprague. Sprague’s design included an electric motor based on the design of Zenobe Gramme, the Belgian engineer behind the first electric motor. Sprague focused on improving the overall design and making it suitable for more applications. Later developments in the motor helped in the application initially across tramcars. These designs were further worked upon by other researchers which led to the use of electric traction motors across various transportation modes.
The technological shift in the automotive industry has led to rapid changes and development in automotive vehicle production. In addition, there is a rising preference for electric vehicles which enabled the manufacturers to grow near-zero emissions and highly fuel-efficient vehicles, thus driving demand for electric traction motors globally. Subsidies for electric vehicles are also provided by states, largely to promote greater use of electric buses. In addition, other key advantages that are responsible for facilitating the electric traction engine market are rising government subsidies, reducing air pollution, and minimising traffic.
Electric traction motors used for propulsion purposes in the rail industry are installed to provide a reliable, user-friendly and environmentally friendly alternative to more conventional equipment powered by petrol. The traction motor has contributed to weight and size reductions. In order to realise a fully enclosed engine that needs less maintenance is expected to fuel the demand of electric traction motors in the future, higher efficiency traction engine is also being built especially for the railway industry. The cost of production and maintenance is reduced by the growing application of traction motors in locomotives, heavy machinery and multiple electrical units. The cost advantages associated with traction motor manufacturing and aftermarket services are expected to drive the growth of the electric traction motor market.
Factors such as rising global warming challenges, industrial emissions, and natural resource depletion have changed the emphasis to sustainable growth. The government has passed stringent regulations to curb pollution from industries. Thus, instead of steam and diesel engines traction engines are now being used as these engines help minimise emissions and are expected to drive the demand during the forecast period.
Participants in the industry provide traction motors that perfectly conform to real operating conditions, thereby allowing sustainable energy reductions. Product manufacturers are concentrated on improving the performance of these engines in order to save more energy. In addition, its maintenance costs have also been dramatically affected by improving performance as recently developed fully enclosed traction motors need less maintenance compared to traditional ones. The demand is therefore rapidly expanding along with the production and use of high-efficiency electric traction motors.
Global Electric Traction Motors Market Segmentation:
Electric Traction Motors Market By Type (AC Traction Motor, DC Traction Motor); By Rated Power (Below 200 KW, 200-400 KW, Above 400 KW); By Application (Railway (Light Rail Vehicle , Metro, Commuter Rail, Locomotive, Trams, High Speed Trains), Electric Vehicles, Battery Electric Vehicles, Electric Hybrid Vehicles, Elevators, Roller Coasters, Conveyors And Trolley Buses, Others); By Region (U.S., Canada, Mexico, Rest Of North America, France, UK, Spain, Germany, Italy, Nordic Countries , Benelux Union, Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Singapore, Philippines, Indonesia, Thailand, Malaysia, Vietnam, Rest Of Southeast Asia), Brazil, Argentina, Rest Of Latin America, Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022 – 2030
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