The Global Electric Traction Motors Market Report is a compilation of comprehensive research studies of various aspects of the Electric Traction Motors Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Electric Traction Motors market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Electric Traction Motors market and how they will evolve in the years to come.
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In terms of revenue growth, the global electric traction motors market is expected to witness a CAGR of 18.3% over the forecast period.. 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.
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.
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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
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