Inkwood Research anticipates that the global traction motor market will reach $33770.78 million by 2028, growing at a CAGR of 14.55% during the forecast period. The base year considered for the market study is 2020, and the forecast years are from 2021 to 2028. Traction motors are a subcategory of electric motors, mainly used for the translation motion of a vehicle or a machine. The most common and widely used traction motors include the ones used... Read more
The Asia Pacific traction motor market is projected to register a CAGR of 14.99%, over the forecast period of 2021 to 2028. The market growth is facilitated by factors such as the growing trends observed in developing economies like India, Vietnam, Thailand, and Indonesia, the rapidly augmenting industrial sector, the rising demand from the surging population base, and the presence of established enterprises. The Asia Pacific traction motor market growth is evaluated by analyzing Japan, China,... Read more
The Europe traction motor market is estimated to record a CAGR of 14.13%, over the forecast years of 2021 to 2028. The region's market growth is attributed to key drivers, such as, the availability of state-of-the-art technologies for manufacturing traction motors, the formulation of laws and incentives to encourage electric vehicles' sale, and the presence of advanced railway systems. The Europe traction motor market growth is analyzed by assessing the United Kingdom, France, Belgium, Poland, Germany,... Read more
The North America traction motor market is expected to grow with a CAGR of 13.71%, during the forecast years of 2021 to 2028. The market growth is facilitated by factors, such as, the strong railway industry, in addition to the surging adoption and sale of electric vehicles. The North America traction motor market growth analysis includes the assessment of the United States and Canada. NORTH AMERICA TRACTION MOTOR MARKET FORECAST 2021-2028 North America Traction Motor Market... Read more
The United States traction motor market growth is expected to evolve with a CAGR of 13.47%, over the forecast period. The country's market growth is facilitated by factors, such as, the rapidly growing market for electric vehicles and locomotives, and the steady demand for traction motors across the railway industry. The base year considered for the market study is 2020, and the forecast years are from 2021 to 2025. UNITED STATES TRACTION MOTOR MARKET FORECAST... Read more