Gangtok Chronicle

Electric Traction Motor Market to Grow to $36.6 billion by 2025 | ABB, CG Power and Industrial Solutions, CRRC, GE, Siemens

 Breaking News
  • No posts were found

Electric Traction Motor Market to Grow to $36.6 billion by 2025 | ABB, CG Power and Industrial Solutions, CRRC, GE, Siemens

April 20
04:30 2022
Electric Traction Motor Market to Grow to $36.6 billion by 2025 | ABB, CG Power and Industrial Solutions, CRRC, GE, Siemens
The leading players in the electric traction motor market include ABB (Switzerland), CG Power and Industrial Solutions (India), CRRC (China), GE (US), and Siemens (Germany).
The increase in demand for high-performance motors, favorable government policies and subsidies, and the rise in investments in the railway sector are expected to drive the electric traction motor market. Increased demand for electric vehicles is the major growth opportunity for the electric traction motor market.

According to the new market research report Electric traction motor Market by Type (AC and DC), Power Rating (Below 200 kW, 200-400 kW, and Above 400 kW), Application (Railways, Electric Vehicles, Elevators, Conveyors, and Industrial Machinery), and Region: Global Forecast to 2025″ The electric traction motor market is expected to grow from an estimated market size of USD 14.2 billion in 2020 to USD 36.6 billion by 2025, at a CAGR of 20.9% during the forecast period. The market is set to witness growth, due to the increase in demand for high-performance motors, favorable government policies and subsidies, and the rise in investments in the railway sector.

A traction motor is an electric motor used for propulsion in various applications, particularly in electric and diesel-electric locomotive applications, such as electrically powered rail vehicles, electric vehicles, trolleybuses, hybrid buses, and mining trucks. Electric traction motors are associated with a wide range of advantages, including high starting torque, lower maintenance costs compared to steam traction motors, low-noise designs, and effortless speed control. This further results in increased demand for high-performance motors and are likely to drive the electric traction motor market during the forecast period.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=248269129

The electric traction motor market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the electric traction motor industry include ABB (Switzerland), CG Power and Industrial Solutions (India), CRRC (China), GE (US), and Siemens (Germany). The other dominant players include Toshiba, VEM Group, Nidec, Robert Bosch, Traktionssysteme, AMETEK, Škoda, Voith, American Traction Systems, Eaton, Hyundai Rotem, WEG, Mitsubishi, Kawasaki, Lynch, Johnson Electric, Wabtec, Prodrive, Hitachi, Magna  

The AC segment is estimated to be the fastest growing segment of the electric traction motor market, by type, from 2020 to 2025. Earlier, DC motors were preferred for railway applications; however, AC motors are now increasingly being used due to modern power electronics. Compared to DC motors, AC motors are more efficient and easier to control. Therefore, this segment is expected to witness a steady growth.

The below 200 kW segment is estimated to be the fastest growing segment of the electric traction motor market, by power rating, from 2020 to 2025. Increasing investments in electric cars, electric two-wheelers, and light rail transit are responsible for the large share of electric traction motors with a power rating of below 200 kW in the market and is further driving the segment.

The railways segment is estimated to grow at the fastest rate from 2020 to 2025. 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.

Request FREE Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=248269129

Asia Pacific is estimated to be the largest market for electric traction motors in 2020 due to 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. Countries such as China, India, and Japan are expected to witness the highest growth in the market during the forecast period.

Browse Related Reports:

Motor Control Centers Market by Type (Intelligent, Conventional), Voltage (Low, Medium), End-User, Standard, Component, Region (Asia Pacific, North America, Europe, South America, and the Middle East & Africa) – Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430 Northbrook,

IL 60062

USA : 1-888-600-6441

[email protected]

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/electric-traction-motor-market-248269129.html

Categories