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.

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The United States is a growing market, in terms of locomotives and electric vehicles (EVs), primarily attributed to its wide adoption, across the country. Several companies operating in the market have undertaken several contracts, associated with traction motors with numerous governments, resulting in the United States’ traction motor market growth.

On the other hand, the United States has continued to remain a dominating market across North America, considering the consumption and manufacture of electric vehicles, especially in the present scenario. The growing concentration from automobile manufacturers, including international brands, like Ford and Tesla, the low operational costs, in addition to discounted charging fares, and supportive policies and norms on behalf of local governments, play an essential role in augmenting the country’s market growth. Likewise, the registration of electric vehicles is on the rise, owing to the incentives offered by state and local authorities. As a result, these factors are projected to fuel the United States’ traction market growth, over the forecast period.

Toshiba International Corporation, headquartered in the United States, is a diversified producer of electrical and electronic products. The company’s product portfolio encompasses a diverse range of energy-related equipment, building facilities, transportation systems, visual products, and semiconductors, among several others. Also, the company markets Blu-ray Disk and CD TVs under the brand, REGZA.

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