The Global Electric Traction Motor Market size is expected to reach market growth in the forecast period of 2020 to 2025, with a CAGR of 18.5% in the forecast period of 2020 to 2025.
A recent report on Electric Traction Motor Market provides a detailed analysis on the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
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Market Analysis of Electric Traction Motor –
The growth in the focus electric vehicles for the reduction of the carbon emissions has been expected to bring out a significant level of opportunity for the players of the market to boost the growth of global electric traction motor market in the period of forecast.
The electric traction motor has been utilized for making the rotation torque on the machine. It has been used in the electrically powered rail vehicles like the multiple electric units and the electric locomotives. Traction motor is type of an electric motor. The electric traction has been defined as a system which uses the electrical power for the traction system like the trolleys, trams and railways. Moreover, the electric traction refers to the locomotion in which the driving force has been obtained from the electric motors.
The global electric traction motor market has been segmented on the basis of type, power rating, application as well as region. As far as the power ratings are concerned, it has been segregated into the below two hundred or the two hundred to four hundred or more than four hundred. On the basis of type, the global electric traction motor market has been bifurcated into the AC motor or the DC motor. Moreover, on the basis of application, this market has been fragmented into electrical vehicles, railways and the other applications. The segment of railway has been further segregated into the rapid transit vehicles, locomotives as well as the railroad cars. Further, the segment of electric vehicles are divided further into the battery electric vehicles and hybrid electric vehicles and the fuel cell vehicles.
Key Players in the Electric Traction Motor:
A few of the important players in the global electric traction motor market are the,
- Skoda Electric
- Weg SA
Key Market Segments:
By Type: AC, DC
By Power Rating: <200 kW, 200 kW to 400 kW, >400 kW
By Application: Railway, Electric vehicles, Others,
Rise In Railways Investment Driving The Global Electric Traction Motor Market
The global electric traction motor market has been driven mostly by the factors like the increase in the investments in the sector of railways and the growth in the demand for the motors which are energy efficient. Moreover, the unstable prices of the fossil fuels, the norms of emission and the regulations related to the environment are a few of the factors which boost the growth in the market in the forecast period. Though, the volatility in the prices of the raw materials like aluminum and copper as well as the concerns of safety and reliability are the major factors which are hindering the growth of the global electric traction motor market. A failure of motors because of overheating has been a major challenge which has been faced by the players of the market. The global electric traction motor market has been valued well and has been seeing a lot of growth in the recent years and has been expected to see a lot of growth in future.
Asia Pacific To See Maximum Growth In The Global Electric Traction Motor Market
Asia Pacific has the biggest share of the global electric traction motor market and dominates the electric traction motor market in the period of forecast. The major factors which are driving the market growth are the rise in the urbanization and the increase in the electrification, the demand from sector of railways and the supportive plans of the governments. Japan, India and China have been the countries which have been leading in the contribution to the growth of the market in the markets of the Asia Pacific. Europe is holding a major market share and has been expected to growth the dominance of the market. In the region of Europe, Germany has been leading in the global electric traction motor market.
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