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Railway Traction Motors - Global Market Trajectory & Analytics

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    Report

  • 369 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5141390

Global Railway Traction Motors Market to Reach $11.5 Billion by 2026


Traction motors are electric motors that are mostly used in vehicle propulsion. Traction motors are used for the propulsion of electric units, locomotives, and hydrogen or electric vehicles. The most common uses include trolleybuses, roller coasters, electric milk floats, conveyors, and elevators. Electric hybrid vehicles and diesel-electric locomotives and other electrical transmission systems use traction motors. Conventionally, railway traction motors ran on 600 volts and were series-wound brushed DC motors. Railway traction motors market worldwide is a rapidly growing market supported by the rising adoption of metros and monorails and swift transition towards railway electrification systems in almost all major regions. Advancements in railroad technologies coupled with vehicular emissions reforms represent factors accelerating market growth. Several countries have undertaken vehicular emissions reforms that call for curbs on a wide range of local transportation systems. Electrification of rail routes, modernization of railcars, and availability of eco-friendly technologies will help drive growth over the coming few years.

Amid the COVID-19 crisis, the global market for Railway Traction Motors estimated at US$10.2 Billion in the year 2022, is projected to reach a revised size of US$11.5 Billion by 2026, growing at a CAGR of 2.9% over the analysis period. DC Motors, one of the segments analyzed in the report, is projected to record a 2.9% CAGR and reach US$5.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the AC Motors segment is readjusted to a revised 2.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.6 Billion in 2022, While China is Forecast to Reach $2.5 Billion by 2026


The Railway Traction Motors market in the U.S. is estimated at US$1.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2026 trailing a CAGR of 4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR. Railway modernization programs, which are currently in progress in several parts of the world, will be instrumental in future expansion of the railway sector. IoT-enabled networks, fully digitalized control systems, and powerful electric locomotives, will evolve to reinforce the functionalities and capabilities of railway sector in 2021 and beyond. Active roll out of Dedicated Freight Corridors (EFC) to ensure faster and seamless pickup and delivery of freight consignments will also pave the way for industry`s expansion. On the other hand, rising investments on metro rail projects around the world will accelerate the passenger rail transport and widen the addressable market for all in the manufacturing supply chain in the post COVID-19 era.

Synchronous AC Motors Segment to Reach $2.5 Billion by 2026


In the global Synchronous AC Motors segment, USA, Canada, Japan, China and Europe will drive the 3.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.6 Billion will reach a projected size of US$2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$422.4 Million by the year 2026, while Latin America will expand at a 4.1% CAGR through the analysis period. Traction motor systems are witnessing innovative developments as transit becomes more sustainable. Worldwide, electrified rail lines are fast increasing encouraging companies to advance development of voltage, frequency and braking systems. Light rail is becoming increasingly popular and agencies are seeking reliable electrification technologies. Permanent magnet synchronous motors along with induction motors are being used for improving efficiency of rolling stock traction drive systems. In case of induction motors, the losses are broadly categorized into copper, iron, mechanical, and stray load losses including harmonic losses.

Select Competitors (Total 26 Featured):

  • ABB Ltd.
  • ALSTOM Holdings SA
  • Bharat Heavy Electricals Limited
  • Bombardier Inc.
  • Caterpillar Inc.
  • Hyundai Motor Group
  • Mitsubishi Electric Corporation
  • Saini Group
  • Siemens AG
  • Sulzer Ltd.
  • Toshiba International Corporation
  • Traktionssysteme Austria GmbH

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Railway Traction Motors - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • A Core Vertical in Transportation Industry, Railways Records Losses in 2020
  • Global Railways Market Growth Outlook (in %) for the Years 2019 through 2025
  • Global Railways Market: % Annual Growth by Major Geographies for 2019-2025
  • Rail Freight Transportation Comes Under Pressure Due to COVID-19 Pandemic
  • Hurting Drop in Rail Cargo as COVID-19 Interrupts Transport Routes: Rail Freight Traffic Growth in the US (In %)
  • Railways to Bounce Back in Post-COVID-19 Era
  • Amidst Pandemic, Potential Opportunities Emerge in International Rail Travel
  • An Introduction to Railway Traction Motors
  • Types of Traction Motors in Locomotives
  • AC Vs DC Systems
  • Other Components Related to Rail Traction Motors
  • Global Market Prospects & Outlook
  • Developing Regions to Spearhead Long-term Growth
  • Competition
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • New Railway Projects and Consequent Rise in Locomotive and Bogie Production to Present Growth Prospects for Traction Motors
  • A Snapshot of Select Major Ongoing & Upcoming Projects Focused on Rail Freight Transport
  • Rise in Rail Passenger and Freight Traffic: Potential for Growth
  • Global Rail Passenger Traffic (in Billion Passenger Kilometers) by Region for 2018 and 2019
  • Focus on Development of Urban Rail Transport Infrastructure to Propel Rail Traction Motors Market
  • Worldwide Investments into Light Rail and Metro Rail Projects (in US$ Billion) by Region for the Period 2019-2025
  • Expanding Metro Train Network Drives Demand for Metro Train Components
  • Imperative Need to Replace Aging Diesel Locomotives to Reduce Emissions Supports Market Growth
  • As Governments Focus on Development of High-Speed Trains and Bullet Trains, Railway Traction Motors Market to Benefit
  • High-Speed Rail Passenger Traffic (in Billion Passenger Kilometers) by Select Rail Networks for 2019
  • Global Level of Deployment of High-Speed Rail Lines by Select Leading Countries
  • With Rail Freight Transport Being Indispensable for the Global Logistics Chain, Long-term Network Expansion Initiatives Bode Well for the Market
  • Global Rail Freight Transportation Market Size in US$ Million by Region/Country for 2020 and 2027
  • World Trade Flows Determine Growth Dynamics of Rail Freight Transport Market, Setting Trends in the Traction Motors Market
  • Global Merchandise Trade Exports Volume Growth (in %) by Region for 2018-2020
  • Global Merchandise Trade Imports Volume Growth (in %) by Region for 2018-2020
  • Development of Europe-Asia Railway Line and Resultant Rise in Trade Flows Augurs Well for the Market
  • Advent of Solar Powered Trains Emerges as a Potential Driving Factor
  • Growing Electrification of Rail Lines in Developing Economies Presents Growth Opportunity
  • Concerns over Environmental Pollution and Need to Reduce Emissions Drive Demand for Efficient Railway Traction Motors
  • Electric Traction Motors Market to Benefit from the Strengthening Trend towards Electric Locomotives
  • Drive Systems Development
  • Different Types of Electric Traction Systems
  • Development of Diesel Engines Drive Focus onto Traction Motors
  • AC Traction Units Hold an Edge Over DC Systems for Railways
  • Advancements to Create Lighter, Smaller, and Efficient in Rail Traction Systems
  • Monitoring of Rail Traction Monitoring Enables Timely Maintenance and Prevents Failures
  • Aftermarket Presents Opportunities for Rail Traction Motors
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • COVID-19 Crisis Halts the Progress of Rail Transportation Industry
  • Pandemic Severely Impacts the Rail Freight and Logistics Industry
  • YoY Change in Monthly Rail Freight Traffic in the US for the Period Jan 2020 to Dec 2020
CANADA
JAPAN
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Rail Transportation Sector Presents Opportunities for Rail Traction Motors Market
  • Rail Freight Traffic in China (in Trillion Ton Kilometers) for the Years 2011-2019
  • China’s Long-term Plans for Railway Network Expansion Augurs Well for the Market
EUROPE
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Rail Transportation Industry in Europe: An Overview
  • Emergency Funding Provides Respite to European Rail Supply Market amid COVID-19
  • Rail Freight Networks Emerge as Critical Support System During COVID-19 Crisis
FRANCE
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • COVID-19 Pandemic Hits Railway Revenues
  • Pandemic Presents Indian Railways with Opportunity to Overhaul Existing Freight Transport Model
  • Rise of Indian Urban Rail Transportation Bodes Well for Traction Motors Market
  • Indian Railways Eyes ‘Made in India’ Initiative for Zero Import of Rail Components
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Railway Traction Motors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 26

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ABB Ltd.
  • ALSTOM Holdings SA
  • Bharat Heavy Electricals Limited
  • Bombardier Inc.
  • Caterpillar Inc.
  • Hyundai Motor Group
  • Mitsubishi Electric Corporation
  • Saini Group
  • Siemens AG
  • Sulzer Ltd.
  • Toshiba International Corporation
  • Traktionssysteme Austria GmbH