The global demand for Railway Traction Motors Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
The railway traction motor is a specifically modified electric motor that converts electrical energy into torque energy, which is used to provide superior torque for railway coaches. Railway coaches, because of their long service and large weights generally require a motor that is durable, and capable to sustain the high mechanical force. Railways traction motors supply the sufficient power requirement for the efficient functioning of the railway coaches. Railways traction motors are charged by electricity and generate the power to rotate the train.
Market Dynamics
The increase in transportation through railways & growing acceptance of metro rails will propel the demand for the traction motor. The railway traction motor market growth is fueled by the incorporation of traction motors in railway engines which results in lower emissions, low manufacturing, maintenance cost, and excellent performance. An increase in the budget allotment for the advancement of railways will provide remunerative opportunities for the market. These motors have several benefits, including power efficiency, durability, compact design, and low maintenance costs, which fuel their acceptance in the railways. Thus, traction motors are a necessary component of the railway. The surge in demand for metro locomotives, especially in urban areas, will drive the market for railway traction motors during the projected period.
The research 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 an inclusive assessment of each segment in the global market of railway traction motors. The growth and trends of railway traction motors industry provide a holistic approach to this study.
Market Segmentation
This section of the railway traction motors market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- DC Traction Motor
- AC Traction Motor
- Synchronous Ac Traction Motor
By Application
- Diesel Locomotive
- Electric Multiple Units
- Electric Locomotives
- Diesel-Electric Locomotives
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Railway Traction Motors market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Railway Traction Motors 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 railway traction motors market include ABB Group, Saini Group, ALSTOM, Bombardier, BHEL, Hyundai Rotem Company, Mitsubishi Electric Corporation, Siemens AG, Sulzer Ltd. and VEM Group. This section consists of 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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