The global demand for Electric Traction Motor Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Electric traction motors refer to electric motors utilized for propelling a vehicle (electric cars or locomotives). Primarily, the traction motors are used in electric powered rail vehicles and other electric vehicles (cars, conveyors). It is also used in vehicles with electric transmission systems. The traction motors are of two types, AC and DC.
The surge in demand for efficient high-performance motors, favorable government policies, and boost in railway sector investments are foreseen to register the growth of the electric traction motor market in the future. The price volatility of fossil fuel prices, emission norms, and environmental regulations are yet other factors expected to drive the market growth of electric traction motors. On the other hand, the price of raw material may witness instability on account of the ongoing COVID-19 pandemic crisis, thereby impeding the growth globally. However, the growing inclination of both customers and manufacturers for electric vehicles to cut-down carbon emissions is anticipated to establish a significant opportunity for market players. The rising organization growth in both emerging and underdeveloped economies creates profitable aspects for the key market players.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of electric traction motor.
The entire electric traction motor market has been sub-categorized into type, power rating and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Power Rating
- Below 200 kW
- 200-400 kW
- Above 400 kW
- Electric Vehicle
This section covers regional segmentation which accentuates on current and future demand for electric traction motor market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Electric Traction Motor Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the electric traction motor market include ABB, CG Power and Industrial Solutions, CRRC, GE, Siemens. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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