To know the impact of COVID-19 On Electric Traction Motor Market By Type (AC, DC), By Power Rating (Below 200 kW, 200-400 kW, Above 400 kW), By Application (Railways, Electric Vehicle, Others), Industry Analysis, Trends, And Forecast, 2021-2027 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
"Electric Traction Motor Market is valued at USD 14.04 Billion in 2020 and anticipated to reach USD 53.40 Billion by 2027 with the CAGR of 21.03% over the forecast period."
Increased use of traction motors in electric vehicles and growing demand for high power electric systems in modern locomotives and new advancements in power electronics technology for traction systems are the major factors stimulating the growth of the Global Electric Traction Motor Market.
Scope of Global Electric Traction Motor Market Report:–
Electric traction motor is a part of locomotive converting electrical energy into mechanical energy that drives reliable function. Electrical motors are primarily used for producing the vehicle movement and are powered by generating electricity from different utilities. With the advancement of electrical drives for traction systems, electrification of traction has become popular in number of traction services including metro or suburban railways. Electrical motors operate on DC supply in order to produce movement of the vehicle or train. In heavy trains rapid accelerations require, so DC traction motors consider as a best choice as compared to AC motors. The synchronous motor can be operated as traction motor which develops high electromagnetic torques at variable speeds. This would help in optimizing the safe and sustainable operation of electric railway traction systems.
Global Electric Traction Motor Market is segmented on the basis of type, power rating, and application and by region. Based on type, the market is segmented into AC and DC. Based on power rating, the market is segmented into below 200 kW, 200-400 kW and above 400 kW. Based on applications, the market is segmented into railways, electric vehicle and others.
The regions covered in this electric traction motor market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of electric traction Motor market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Electric Traction Motor Market Companies:-
Key players of the electric traction motor market are,
- CG Power
- Industrial Solutions
Global Electric Traction Motor Market Dynamics:-
Increased use of traction motors in electric vehicles and growing demand for high power electric systems in modern locomotives are expected to drive the growth of the electric traction motor market. Currently, high speed electric vehicles mostly work with three-phase induction motors as traction motors. According to the EV Outlook, in 2018 the global electric car fleet surpassed about 5.1 million meaning that it is increased by about 2 million from 2017, nearly doubling EV sales in just one year. In addition, increasing new advancements in power electronics technology for traction machine energies are another major factor responsible for the growth of the electric traction motor market. However, high capital investment and limitation of space and volume for physical installation weight per axle may hinder the growth of this market. In spite of that, research and development in permanent magnet synchronous motor is under progress and will soon available for traction purpose. This will be proven as a great opportunity for electric traction motor manufacturers to expand its products categories in near future.
"Asia pacific is Expected to Witness a Fastest Growth in the Global Electric Traction Motor Market"
Asia pacific is expected to witness a fastest growth in the global electric traction motor market due to the rapid expansion of railway networks across Asian countries, favorable government initiatives towards fuel efficient vehicles coupled with the growing sales of electric vehicles. For example; in 2018 China remained the world’s largest EV market with around 2.3 million electric vehicles are in active use. In addition, China accounts for more than 80% of the world electricity demand for EVs. Europe is emerging as the second leading region of electric traction motor market owing to the presence of large automotive industry and rise in development of high speed railway. European OEMs have largely adopted different strategies to reduce CO2 emissions by making electrification its first priority than fuel based technologies.
Key Benefits for Global Electric Traction Motor Market Report:–
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
Global Electric Traction Motor Market Segmentation:–
By Type: AC, DC
By Power Rating: Below 200 kW, 200-400 kW, Above 400 kW
By Application: Railways, Electric Vehicle, Others
On Special Requirement Electric Traction Motor Market Report is also available for below Regions and Country:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
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Electric Traction Motor Market Size, Share, Growth And Forecast By 2028
Electric Traction Motor Market By Type (AC, DC), By Power Rating (Below 200 kW, 200-400 kW, Above 400 kW), By Application (Railways, Electric Vehicle, Others), Industry Analysis, Trends, And Forecast, 2021-2027
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