Market Overview:
The global electric traction motor market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles and railway transportation. Additionally, the growing industrialization and urbanization are also contributing to the growth of this market. The global electric traction motor market is segmented on the basis of type, application, and region. On the basis of type, it is divided into AC motors and DC motors. The AC motors segment dominates this market owing to their high efficiency as compared to DC motors. On the basis of application, it is classified into railway transportation, electric vehicles, elevators & conveyors systems, and industrial machinery & equipment among others.
Product Definition:
Electric Traction Motor is a type of electric motor which is used in electric vehicles and locomotives to provide propulsion. Electric Traction Motor are very important for modern transportation, as they allow vehicles to move without the need for an internal combustion engine.
AC:
AC is the alternate current, it's a constant electric charge flow through an electron-free path. It can be produced by various sources like batteries, steam engines and turbines. The amount of electricity that flows per second is called amperes (amps). One ampere is equal to 0.001 horsepower; there are 1000 amperes in one volt; there are 0.1 amperes in one turn of a amp meter; etc.
DC:
DC is direct current and it’s unit of measurement is amperes. It flows in only one direction, which is from positive to negative electrode. DC can be generated by battery or electric motor and used in traction motors as well as batteries. The main function of DC motor is to provide mechanical power through the drive shaft or flywheel/cage gears to propel vehicles using a vehicle chassis as a source of power transmission mechanism.
Application Insights:
The railway application segment accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for high power density motors across railways that are required to propel heavy freight trains with great efficiency.
Electric vehicles application segment is expected witness significant growth over the forecast period owing to rising government initiatives such as Low-Emission Vehicle Program (LEVP) in U.S., which aims at promoting electric vehicle production and ensuring their adoption across commercial transport applications including trucks, buses, and coaches among others. Traction motors used in electric vehicles have low power consumption enabling reduction in overall vehicle weight resulting into increased fuel efficiency along with reduced emissions creating a positive impact on the environment as well as on public health globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid growth in industrialization, which has led to an increase in demand for electric traction motors. China is one of the largest markets for these motors due to presence of numerous manufacturing facilities and availability of cheap labor. Moreover, increasing investments by governments across various countries are likely to boost regional product demand over the next eight years.
In North America market revenue was valued at USD X million in 2017 owing high electricity prices along with stringent government regulations regarding fuel emissions have resulted into adoption electric traction motors across major applications such as railway transportation system.
Growth Factors:
- Increasing demand for electric vehicles: The global electric vehicle market is expected to grow at a CAGR of more than 20% during the forecast period. This would lead to an increase in demand for electric traction motors, thereby driving the market growth.
- Rising awareness about environment-friendly technologies: There is an increasing awareness among consumers about the benefits of using environment-friendly technologies such as electric vehicles. This is likely to boost the adoption of electric traction motors in the coming years.
- Technological advancements: The development of new and innovative technologies has led to a surge in demand for electric traction motors across different applications such as automotive, aerospace & defense, and industrial sectors. This would further propel the market growth during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Traction Motor Market Research Report
By Type
AC, DC
By Application
Railway, Electric vehicles, Others (Elevators, conveyors, and industrial machinery)
By Companies
Benchmarking, Crrc , Alstom , Traktionssysteme Austria , Siemens , ABB , Bosch , CG Power , General Electric (GE) , NIDEC , Skoda Electric , Toshiba , Weg Sa
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Electric Traction Motor Market Report Segments:
The global Electric Traction Motor market is segmented on the basis of:
Types
AC, DC
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Railway, Electric vehicles, Others (Elevators, conveyors, and industrial machinery)
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Benchmarking
- CrrcÂ
- AlstomÂ
- Traktionssysteme AustriaÂ
- SiemensÂ
- ABBÂ
- BoschÂ
- CG PowerÂ
- General Electric (GE)Â
- NIDECÂ
- Skoda ElectricÂ
- ToshibaÂ
- Weg Sa
Highlights of The Electric Traction Motor Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- AC
- DC
- By Application:
- Railway
- Electric vehicles
- Others (Elevators, conveyors, and industrial machinery)
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Traction Motor Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An electric traction motor is a type of electric motor used to power vehicles or machinery. It works by using an electric current to create a rotational force that powers the vehicle or machinery.
Some of the key players operating in the electric traction motor market are Benchmarking, Crrc‚Â , Alstom‚Â , Traktionssysteme Austria‚Â , Siemens‚Â , ABB‚Â , Bosch‚Â , CG Power‚Â , General Electric (GE)‚Â , NIDEC‚Â , Skoda Electric‚Â , Toshiba‚Â , Weg Sa.
The electric traction motor market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Electric Traction Motor Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Electric Traction Motor Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electric Traction Motor Market - Supply Chain
4.5. Global Electric Traction Motor Market Forecast
4.5.1. Electric Traction Motor Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electric Traction Motor Market Size (000 Units) and Y-o-Y Growth
4.5.3. Electric Traction Motor Market Absolute $ Opportunity
5. Global Electric Traction Motor Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Electric Traction Motor Market Size and Volume Forecast by Type
5.3.1. AC
5.3.2. DC
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Electric Traction Motor Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Electric Traction Motor Market Size and Volume Forecast by Application
6.3.1. Railway
6.3.2. Electric vehicles
6.3.3. Others (Elevators, conveyors, and industrial machinery)
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Electric Traction Motor Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Electric Traction Motor Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Electric Traction Motor Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Electric Traction Motor Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Electric Traction Motor Demand Share Forecast, 2019-2026
9. North America Electric Traction Motor Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Electric Traction Motor Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Electric Traction Motor Market Size and Volume Forecast by Application
9.4.1. Railway
9.4.2. Electric vehicles
9.4.3. Others (Elevators, conveyors, and industrial machinery)
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Electric Traction Motor Market Size and Volume Forecast by Type
9.7.1. AC
9.7.2. DC
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Electric Traction Motor Demand Share Forecast, 2019-2026
10. Latin America Electric Traction Motor Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Electric Traction Motor Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Electric Traction Motor Market Size and Volume Forecast by Application
10.4.1. Railway
10.4.2. Electric vehicles
10.4.3. Others (Elevators, conveyors, and industrial machinery)
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Electric Traction Motor Market Size and Volume Forecast by Type
10.7.1. AC
10.7.2. DC
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Electric Traction Motor Demand Share Forecast, 2019-2026
11. Europe Electric Traction Motor Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Electric Traction Motor Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Electric Traction Motor Market Size and Volume Forecast by Application
11.4.1. Railway
11.4.2. Electric vehicles
11.4.3. Others (Elevators, conveyors, and industrial machinery)
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Electric Traction Motor Market Size and Volume Forecast by Type
11.7.1. AC
11.7.2. DC
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Electric Traction Motor Demand Share, 2019-2026
12. Asia Pacific Electric Traction Motor Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Electric Traction Motor Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Electric Traction Motor Market Size and Volume Forecast by Application
12.4.1. Railway
12.4.2. Electric vehicles
12.4.3. Others (Elevators, conveyors, and industrial machinery)
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Electric Traction Motor Market Size and Volume Forecast by Type
12.7.1. AC
12.7.2. DC
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Electric Traction Motor Demand Share, 2019-2026
13. Middle East & Africa Electric Traction Motor Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Electric Traction Motor Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Electric Traction Motor Market Size and Volume Forecast by Application
13.4.1. Railway
13.4.2. Electric vehicles
13.4.3. Others (Elevators, conveyors, and industrial machinery)
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Electric Traction Motor Market Size and Volume Forecast by Type
13.7.1. AC
13.7.2. DC
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Electric Traction Motor Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Electric Traction Motor Market: Market Share Analysis
14.2. Electric Traction Motor Distributors and Customers
14.3. Electric Traction Motor Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Benchmarking
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Crrc
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Alstom
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Traktionssysteme Austria
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Siemens
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. ABB
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Bosch
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. CG Power
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. General Electric (GE)
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. NIDEC
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Skoda Electric
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Toshiba
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Weg Sa
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
