+91-8668442535

Electric Traction Motor Market By Type (AC Motor, DC Motor), By Power Rating (Less Than 150 kW, 150 kW to 300 kW, Greater Than 300 kW), By End-Users (Railway, Electric Vehicles) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

Increasing Adoption of Electric Traction Motor Globally To Ensure Rapid Growth for Electric Traction Motor Market

Globally, the electric traction motor market is expected to grow with a CAGR of 19.2% during the forecast period from 2019 to 2027, starting from US$12.9 Bn in 2018. Electric traction motors are mainly used in locomotive or electric vehicles for propulsion by producing rotational torque. At present, these electric traction motors play an important role in locomotives. The electric traction motors help vehicles for reliable and safe functions. The growing adoption of electric traction motors in the railways is the key factor that drives the growth of the electric traction motor market. The growing preference for rail transportation over road transportation accelerates the railway's tread activities worldwide.

Furthermore, the growing demand for electric traction motors in hybrid and battery electric vehicles is augmenting the growth of the electric traction motor market. Moreover, the increasing demand for efficient power conservation coupled with the electrification of automobiles is anticipated to propel the growth of the electric traction motor market. However, the high initial cost of traction motors is expected to hamper the growth of the electric traction motor market. Furthermore, the growing digitalization of electric motors is projected to serve various growth opportunities for the electric traction motor market in the near future. 

Market Synopsis

Growing application of electric traction motors in the locomotives continues to dominate the application segment.

In 2018, based on the application, the railway applications contributing to over 42% of the total revenue generated globally led the electric traction motor market. The rapid development in the railway sector and digitalization of railway systems are fueling the growth of the electric traction motors market. The ongoing research and development in electric motor technology are majorly contributing to the growth of the electric traction motors market. In addition, by type, the electric traction motor market is categorized into A.C. motors and D.C. motors. Ac motors hold significant market shares in the electric traction motors market. The continuous development of electric vehicles is fueling the growth of the electric traction motors market. 

North America holds the axiom market share in the electric traction motor market.

In 2018, the electric traction motors market was dominated by the North American region, and it is expected to be the dominating region through the forecast region. The high adoption of advanced technologies and the presence of major players are the primary factors that drive the growth of the North American electric traction motor market. The U.S. holds the largest market share in the electric traction motor market across North America. Furthermore, Asia Pacific is the fastest-growing region owing to the growing automotive industry and ongoing technological advancements in motor technology.

Some of the prominent players operating in the Electric Traction Motor market include Siemens Corp., General Electric, Skoda Electric, ABB, Weg SA, Toshiba Corporation, Benchmarking, C.G. Power, Traktionssysteme Austria GmbH, Alstom SA, Robert Bosch GmbH and others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The electric traction motor market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global Electric Traction Motor market based on technology, application, end-user, and geography. Key segments covered in the report are as follows:

ATTRIBUTE DETAILS

Research Period  2017-2027

The base Year 2018

Forecast Period  2019-2027

Historical Year  2017

Unit  USD Billion

Segmentation Types Segment (2017–2027; US$ Bn)

  • A.C. Motor
  • D.C. Motor

Power Rating Segment (2017–2027; US$ Bn)

  • Less than 150 kW
  • 150 kW to 300 kW
  • Greater than 300 kW

End-Users (2017–2027; US$ Bn)

  • Railway
  • Electric Vehicles 

Geography Segment (2017–2027; US$ Bn)

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report.

  • What was the market size of electric traction motors in 2018, and what is the forecast up to 2027?
  • Which is the largest regional market for Railways electric traction motor applications?
  • What are the major trends followed in the electric traction motor market across different regions?
  • Who are the key Electric Traction Motor companies leading the market?
  • What are the key strategies adopted by the leading electric traction motor companies in the market?

Unique data points of this report

  • Statistics on electric traction motor penetration and spending worldwide
  • Recent trends across different regions in terms of the adoption of the electric traction motor
  • Notable developments going on in the electric traction motor market
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

Frequently Asked Questions:

The market for Electric Traction Motor Market is expected to reach US$ 12.9 Bn By 2027.

The Electric Traction Motor Market is expected to see significant CAGR growth over the coming years, at 19.2%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Siemens Corp., General Electric, Skoda Electric, ABB, Weg SA, Toshiba Corporation, Benchmarking, C.G. Power, Traktionssysteme Austria GmbH, Alstom SA, Robert Bosch GmbH. are some of the major players in the global market.

Choose License Type
Trusted By
Godaddy
Published Date:  Jul 2019
Category:  Semiconductor & Electronics
Report ID:   59792
Report Format:   PDF
Pages:   120
Rating:    4.2 (69)
Delivery Time: 24 Hours to 48 Hours   
Connect With Us
+91-8668442535
24/7 Research Support