The electric traction motor market size was estimated to be Euro 5,605.9 million in 2020 and is projected to register a CAGR of 20.4% to reach Euro 24,824.0 million by 2028. But due to the effect of Covid-19, the market size came down to Euro 4,559.6 million in 2020, and it is estimated to register a CAGR of 18.5% to hit Euro 17,760.3 million by 2028.
Rising demand for electric cars is projected to drive the electric traction motor market in the coming years. There has been a shift towards electric transportation in the automotive industry to increase green footprint. This, in turn, is supposed to augment the electric traction motor market in the forthcoming years. Furthermore, rising investments in metros and other transportation services that require underground access are expected to catapult the electric traction motor market on a growth trajectory.
This research report categorizes the market for electric traction motor based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the electric traction motor market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the electric traction motor market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as type, power rating, and application of the Electric traction motor market.
Based on type, this market is classified into AC and DC. The AC segment has been anticipated to account for the largest share in the global electric traction motor market in 2020. Earlier, DC motors were preferred for railway applications. But AC motors are now being increasingly used due to modern power electronics. Compared to DC motors, AC motors are more efficient and are easier to control.
Based on power rating, this market is categorized into < 200KW, 200KW to 400KW, and >400KW. The < 200KW segment has been anticipated to account for the largest share in the global electric traction motor market in 2020.The large share held by the segment can be mainly attributed to the extensive use of below 200 kW power rated motors in electric vehicles and light rail transit vehicles, which are expected to grow at a faster pace in the coming years.
Based on application, this market is classified into railway (electric & diesel) and buses. The railway segment has been anticipated to account for the largest share in the global electric traction motor market in 2020. Electric traction motors are an essential part of railway trains. The railways segment is likely to dominate the market in the coming years due to the increased reliance of the railway industry on electric traction motors for enhanced speed control and high start-up torque.
By region, this market is segmented as North America, Western Europe, Eastern Europe, Asia-Pacific, Middle East, and Rest of the World. The Asia-Pacific is the largest regional segment accounting for over 35.2% of the global market. This regional segment is projected to account for a significant market share during the forecast period on account of the rising investments in electric vehicles and the growing metro rail network in the region.Asia Pacific is also expected to be the fastest growing market for electric traction motors owing to the increasing need to reduce carbon emissions in the region. China, India, and Japan are the leading countries contributing to the market growth observed in Asia Pacific.
Rising demand for electric cars is projected to drive the electric traction motor market in the coming years. There has been a shift towards electric transportation in the automotive industry to increase green footprint. This, in turn, is supposed to augment the electric traction motor market in the forthcoming years. Furthermore, rising investments in metros and other transportation services that require underground access are expected to catapult the electric traction motor market on a growth trajectory.
This research report categorizes the market for electric traction motor based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the electric traction motor market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the electric traction motor market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as type, power rating, and application of the Electric traction motor market.
Based on type, this market is classified into AC and DC. The AC segment has been anticipated to account for the largest share in the global electric traction motor market in 2020. Earlier, DC motors were preferred for railway applications. But AC motors are now being increasingly used due to modern power electronics. Compared to DC motors, AC motors are more efficient and are easier to control.
Based on power rating, this market is categorized into < 200KW, 200KW to 400KW, and >400KW. The < 200KW segment has been anticipated to account for the largest share in the global electric traction motor market in 2020.The large share held by the segment can be mainly attributed to the extensive use of below 200 kW power rated motors in electric vehicles and light rail transit vehicles, which are expected to grow at a faster pace in the coming years.
Based on application, this market is classified into railway (electric & diesel) and buses. The railway segment has been anticipated to account for the largest share in the global electric traction motor market in 2020. Electric traction motors are an essential part of railway trains. The railways segment is likely to dominate the market in the coming years due to the increased reliance of the railway industry on electric traction motors for enhanced speed control and high start-up torque.
By region, this market is segmented as North America, Western Europe, Eastern Europe, Asia-Pacific, Middle East, and Rest of the World. The Asia-Pacific is the largest regional segment accounting for over 35.2% of the global market. This regional segment is projected to account for a significant market share during the forecast period on account of the rising investments in electric vehicles and the growing metro rail network in the region.Asia Pacific is also expected to be the fastest growing market for electric traction motors owing to the increasing need to reduce carbon emissions in the region. China, India, and Japan are the leading countries contributing to the market growth observed in Asia Pacific.
WHAT THIS STUDY PROVIDES
- Electric traction motor market and submarket forecast covering the period of 2017 to 2028, with accompanying analysis
- Extensive details and analysis of contracts, projects, and programs
- Analysis of game-changing technological trends and how these will shape the industry
- Explanation or political, regulatory and technical factors to consider
- Barriers to entry analysis for markets around the world
- Profiles of leading companies operating within the sector with market share analysis
- SWOT analysis of the major strengths and weaknesses of the market, together with the opportunities available and the key threats faced
- Market conclusions & recommendations
KEY QUESTIONS ANSWERED BY THIS REPORT
- How the electric traction motor market is evolving?
- What is driving and restraining factors for global electric traction motor market?
- How will each electric traction motor submarket segment grow over the forecast period and how much sales will these submarkets account for in 2028?
- How will market shares of each electric traction motor submarket develop from 2020-2028?
- Which electric traction motor submarket will be the main driver of the overall market from 2020-2028?
- How will political and regulatory factors influence regional Electric traction motor markets and submarkets?
- Will leading national electric traction motor broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
- How will market shares of the national markets change by 2028 and which nation will lead the market in 2028?
- Who are the leading players and what are their prospects over the forecast period?
- How will the sector evolve as alliances form during the period between 2017 and 2028?
Frequently Asked Questions about the Electric Traction Motor Market
What is the estimated value of the Electric Traction Motor Market?
What is the growth rate of the Electric Traction Motor Market?
What is the forecasted size of the Electric Traction Motor Market?
Who are the key companies in the Electric Traction Motor Market?
Report Attribute | Details |
---|---|
No. of Pages | 184 |
Published | October 2021 |
Forecast Period | 2017 - 2028 |
Estimated Market Value ( USD | $ 3292.9 Million |
Forecasted Market Value ( USD | $ 17760.3 Million |
Compound Annual Growth Rate | 16.6% |
Regions Covered | Global |
Table of Contents
1 Market Abstract
2 Market Introduction
3 Research Practice
4 Key Related Data
5 Impact Factor Analysis
6 Market Development Analysis
7 Electric Traction Motor Market, by Type
8 Electric Traction Motor Market, by Power Rating
9 Electric Traction Motor Market, by Application
10 Electric Traction Motor Market, Regional Analysis
11 Company Profile
12 Appendix
List of Tables
List of Figures
Companies Mentioned
A selection of companies mentioned in this report includes:
- Abb Ltd
- Robert Bosch Gmbh
- Ametek Inc.
- Cg Power and Industrial Solutions
- Crrc Corporation Limited
- Hitachi Ltd.
- Hyundai Rotem
- Johnson Electric Holdings Limited
- Kawasaki Heavy Industries Ltd.
- Mitsubishi Corp.
- Siemens Ag
- Wabtec Corporation
- Eaton Corporation
- Alstom Sa
- Weg S.A. General Electric Company
- Nidec Corporation
- Vem Group
- American Traction Systems
- Škoda Transportation A.S.
- Traktionssysteme Austria