Traction Motor Market

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.ย 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 in railways. Also, they play a significant role in applications such as elevators.

GLOBAL TRACTION MOTOR MARKET FORECAST 2021-2028

Global Traction Motor Market by Type (Ac Traction Motor, Dc Traction Motor, Synchronous Motor) by Power Rating (Less Than 200kw, 200โ€“400 Kw, More Than 400kw) by Application (Railways, Electric Vehicles, Industrial Vehicles, Others) and by Geography.

Request free sample

Report Summary

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 in railways. Also, they play a significant role in applications such as elevators. Currently, due to technological advancements, industrial vehicles and electric vehicles use traction motors to power their motion. Moreover, various types of traction motors, such as DC motors, AC motors, and synchronous motors, are also covered in the report.
Traction Motor Market

To learn more about this report,ย request a free sample copy

Key factors driving the global traction motor market growth:

  • Growth in the railway industry
    • Railways capture around 40% of the traction motorsโ€™ market share.
    • Railways are one of the most efficient forms of transportation. They are also considered critical infrastructure, from a countryโ€™s economic point of view.
    • Traction motors have multiple benefits, such as power efficiency, compact design, durability, and low maintenance costs, which aids its adoption in the railways.
  • Increased demand for low emission technology
  • Growing demand from electric vehicles

On the negative side, key factors limiting the market growth are:

  • Increased prices of raw materials
    • Traction motors are subject to high temperatures resulting from friction between components, as well as elements that travel rapidly.
    • As a result, the materials used for their manufacture are also sturdy, robust, and of fine quality.
    • However, the cost of such materials is high, thereby restricting the market for traction motors
  • Higher investment cost for the market

The report scope of the global traction motor market covers segmentation analysis of type, power rating, and application:

Market by Type:

  • AC Traction Motor
    • The AC traction motor segment is projected to dominate the type category.
    • AC traction motor is a variable frequency drive motor, with an extensive application in different industries and across the transportation sector.
    • The increased application is attributed to the better traction offered by AC motors as compared to DC motors, higher reliability, and reduced maintenance requirements.
    • Based on the motors used for traction, such as asynchronous or induction, they can be designed and manufactured for application-specific machinery and automotive.
  • DC Traction Motor
  • Synchronous Motor

Geographically, the global traction motor market has been segmented on the basis of four major regions, which includes:

  • North America: The United States and Canada
  • Europe: The United Kingdom, Germany, France, Italy, Russia, Belgium, Poland, and Rest of Europe
  • Asia Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia Pacific
    • The Asia Pacific is set to lead the global market, during the forecast period.
    • The majority of the Asia Pacificโ€™s demand for traction motors is generated from China.
    • For instance, the country captured 38.87% of the market share in 2020, thereby evidently driving the regionโ€™s market growth.
    • Emerging and developing economies such as Indonesia, Thailand, Vietnam, and India depict promising trends across the region.
    • The rapidly growing industrial sector and the increased demand from the growing population base as well as businesses are expected to augment the market in the Asia Pacific.
    • Furthermore, numerous companies such as Hitachi, Hyundai, CRRC, and Toshiba operate effectively in the Asia Pacific and offer a diversified product range of traction motors, leading to market growth.
  • Rest of World: Latin America, the Middle East & Africa

Major players operating in the global traction motor market:

  • ABB
  • Siemens
  • Ametek
  • Eaton
  • Mitsubishi Electric
  • Others

Key strategies adopted by some of these companies:

In September 2020, Hitachi Automotive Electric Motor Systems Ltd floated a company named Hitachi Automotive Electric Motor Systems America, Inc. In January 2020, American traction systems launched The ATS HERMES Inverter. Moreover, in September 2020, Mitsubishi Electric received a contract from BEML, an Indian company, for propulsion equipment for 80 new cars for its Delhi Metro.

Key trends of the global traction motor market:

  • Cost benefits associated with the production and the aftermarket services enable market growth.
  • Traction motors considerably improve the machineโ€™s performance.
  • Rising investments in research and development present the market with several opportunities.

 

Frequently Asked Questions & Answers (FAQs):

  • What is the impact of COVID-19 on the global traction motor market?

A: The COVID-19 outbreak has impacted the market differently, for each application. However, the industrial vehicles segment was majorly affected.

  • Which country is set to capture the largest market share?

A: The United States is set to capture the largest market share.

  • Which region represents the key investment pocket, in terms of the global traction motor market?

A: Indonesia is the key investment pocket for the global traction motor market.

 

Table of Contents

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • PARENT MARKET ANALYSIS: ELECTRIC MOTOR
    • MARKET DEFINITION
    • ย  ย KEY DRIVERS
      • GROWTH IN THE RAILWAY INDUSTRY
      • INCREASED DEMAND FOR LOW EMISSION TECHNOLOGY
      • GROWING DEMAND FROM ELECTRIC VEHICLES
    • ย  ย KEY RESTRAINTS
      • INCREASED PRICES OF RAW MATERIALS
      • HIGHER INVESTMENT COST FOR THE MARKET
  1. KEY ANALYTICS
    • IMPACT OF COVID-19 ON TRACTION MOTOR MARKET
    • KEY INVESTMENT INSIGHTS
    • ย  ย PORTERโ€™S FIVE FORCE ANALYSIS
      • BUYER POWER
      • SUPPLIER POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  2. MARKET BY TYPE
    • AC TRACTION MOTOR
    • DC TRACTION MOTOR
    • SYNCHRONOUS MOTOR
  3. MARKET BY POWER RATING
    • LESS THAN 200KW
    • 200โ€“400 KW
    • MORE THAN 400KW
  4. MARKET BY APPLICATION
    • RAILWAYS
    • ELECTRIC VEHICLES
    • INDUSTRIAL VEHICLES
    • OTHERS
  5. GEOGRAPHICAL ANALYSIS
    • ย  ย NORTH AMERICA
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • ย  ย COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • ย  ย  EUROPE
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • ย  ย COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • ITALY
        • RUSSIA
        • BELGIUM
        • POLAND
        • REST OF EUROPE
    • ย  ย  ASIA PACIFIC
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • ย  ย COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • VIETNAM
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA PACIFIC
    • ย  ย  REST OF WORLD
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • ย  ย REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • ย  ย KEY STRATEGIC DEVELOPMENTS
      • PRODUCT LAUNCH & DEVELOPMENTS
      • PARTNERSHIP, CONTRACT/AGREEMENT & COLLABORATION
    • ย  ย COMPANY PROFILES
      • ABB LTD
      • AMERICAN TRACTION SYSTEMS
      • HITACHI LTD
      • HYUNDAI ROTEM COMPANY
      • CRRC
      • MITSUBISHI ELECTRIC CORPORATION
      • SIEMENS
      • ล KODA TRANSPORTATION
      • TOSHIBA INTERNATIONAL CORPORATION
      • WABTEC CORPORATION
      • AMETEK
      • EATON
      • CG POWER AND INDUSTRIAL SOLUTIONS
      • KAWASAKI
      • ALSTOM

ย LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – TRACTION MOTOR

TABLE 2: GLOBAL TRACTION MOTOR MARKET, BY TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 3: GLOBAL TRACTION MOTOR MARKET, BY TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 4: GLOBAL AC TRACTION MOTOR MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 5: GLOBAL AC TRACTION MOTOR MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 6: GLOBAL DC TRACTION MOTOR MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 7: GLOBAL DC TRACTION MOTOR MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 8: GLOBAL SYNCHRONOUS MOTOR MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 9: GLOBAL SYNCHRONOUS MOTOR MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 10: GLOBAL TRACTION MOTOR MARKET, BY POWER RATING, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 11: GLOBAL TRACTION MOTOR MARKET, BY POWER RATING, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 12: GLOBAL LESS THAN 200KW MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 13: GLOBAL LESS THAN 200KW MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 14: GLOBAL 200โ€“400 KW MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 15: GLOBAL 200โ€“400 KW MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 16: GLOBAL MORE THAN 400KW MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 17: GLOBAL MORE THAN 400KW MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 18: GLOBAL TRACTION MOTOR MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 19: GLOBAL TRACTION MOTOR MARKET, BY APPLICATION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 20: GLOBAL RAILWAYS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 21: GLOBAL RAILWAYS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 22: GLOBAL ELECTRIC VEHICLES MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 23: GLOBAL ELECTRIC VEHICLES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 24: GLOBAL INDUSTRIAL VEHICLES MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 25: GLOBAL INDUSTRIAL VEHICLES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 26: GLOBAL OTHERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 27: GLOBAL OTHERS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 28: GLOBAL TRACTION MOTOR MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 29: GLOBAL TRACTION MOTOR MARKET, BY GEOGRAPHY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 30: NORTH AMERICA TRACTION MOTOR MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 31: NORTH AMERICA TRACTION MOTOR MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 32: LEADING PLAYERS OPERATING IN NORTH AMERICA TRACTION MOTOR MARKET

TABLE 33: EUROPE TRACTION MOTOR MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 34: EUROPE TRACTION MOTOR MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 35: LEADING PLAYERS OPERATING IN EUROPE TRACTION MOTOR MARKET

TABLE 36: ASIA PACIFIC TRACTION MOTOR MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 37: ASIA PACIFIC TRACTION MOTOR MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 38: LEADING PLAYERS OPERATING IN ASIA PACIFIC TRACTION MOTOR MARKET

TABLE 39: REST OF WORLD TRACTION MOTOR MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 40: REST OF WORLD TRACTION MOTOR MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 41: LEADING PLAYERS OPERATING IN REST OF THE WORLD TRACTION MOTOR MARKET

LIST OF FIGURES

FIGURE 1: KEY INVESTMENT INSIGHTS

FIGURE 2: PORTERโ€™S FIVE FORCE ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL TRACTION MOTOR MARKET, GROWTH POTENTIAL, BY TYPE, IN 2020

FIGURE 6: GLOBAL TRACTION MOTOR MARKET, BY AC TRACTION MOTOR, 2021-2028 (IN $ MILLION)

FIGURE 7: GLOBAL TRACTION MOTOR MARKET, BY DC TRACTION MOTOR, 2021-2028 (IN $ MILLION)

FIGURE 8: GLOBAL TRACTION MOTOR MARKET, BY SYNCHRONOUS MOTOR, 2021-2028 (IN $ MILLION)

FIGURE 9: GLOBAL TRACTION MOTOR MARKET, GROWTH POTENTIAL, BY POWER RATING, IN 2020

FIGURE 10: GLOBAL TRACTION MOTOR MARKET, BY LESS THAN 200KW, 2021-2028 (IN $ MILLION)

FIGURE 11: GLOBAL TRACTION MOTOR MARKET, BY 200โ€“400 KW, 2021-2028 (IN $ MILLION)

FIGURE 12: GLOBAL TRACTION MOTOR MARKET, BY MORE THAN 400KW, 2021-2028 (IN $ MILLION)

FIGURE 13: GLOBAL TRACTION MOTOR MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2020

FIGURE 14: GLOBAL TRACTION MOTOR MARKET, BY RAILWAYS, 2021-2028 (IN $ MILLION)

FIGURE 15: GLOBAL TRACTION MOTOR MARKET, BY ELECTRIC VEHICLES, 2021-2028 (IN $ MILLION)

FIGURE 16: GLOBAL TRACTION MOTOR MARKET, BY INDUSTRIAL VEHICLES, 2021-2028 (IN $ MILLION)

FIGURE 17: GLOBAL TRACTION MOTOR MARKET, BY OTHERS, 2021-2028 (IN $ MILLION)

FIGURE 18: NORTH AMERICA TRACTION MOTOR MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 19: UNITED STATES TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 20: CANADA TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 21: EUROPE TRACTION MOTOR MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 22: UNITED KINGDOM TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 23: GERMANY TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 24: FRANCE TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 25: ITALY TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 26: RUSSIA TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 27: BELGIUM TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 28: POLAND TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 29: REST OF EUROPE TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 30: ASIA PACIFIC TRACTION MOTOR MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 31: CHINA TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 32: JAPAN TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 33: INDIA TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 34: SOUTH KOREA TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 35: INDONESIA TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 36: THAILAND TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 37: VIETNAM TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 38: AUSTRALIA & NEW ZEALAND TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 39: REST OF ASIA PACIFIC TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION

FIGURE 40: REST OF WORLD TRACTION MOTOR MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 41: LATIN AMERICA TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

FIGURE 42: MIDDLE EAST & AFRICA TRACTION MOTOR MARKET, 2021-2028 (IN $ MILLION)

Segmentation

  1. MARKET BY TYPE
    • AC TRACTION MOTOR
    • DC TRACTION MOTOR
    • SYNCHRONOUS MOTOR
  2. MARKET BY POWER RATING
    • LESS THAN 200KW
    • 200โ€“400 KW
    • MORE THAN 400KW
  3. MARKET BY APPLICATION
    • RAILWAYS
    • ELECTRIC VEHICLES
    • INDUSTRIAL VEHICLES
    • OTHERS
  4. GEOGRAPHICAL ANALYSIS
    • ย  ย NORTH AMERICA
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • ย  ย COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • ย  ย  EUROPE
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • ย  ย COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • ITALY
        • RUSSIA
        • BELGIUM
        • POLAND
        • REST OF EUROPE
    • ย  ย  ASIA PACIFIC
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • ย  ย COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • VIETNAM
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA PACIFIC
    • ย  ย  REST OF WORLD
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • ย  ย REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA

Request Free Sample

To request a free sample copy of this report, please complete the form below :

We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.

    Choose License Type

    Get In Touch

    Inquire Before Buying

    Customization

    Inkwood Research delivers customized reports as per the client's requirement to provide them with an edge in the competitive market

    Request Customization

    RELATED REPORTS