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Electric Traction Motor Market to Drive Robust Growth by 2023 | Key players include CRRC, Alstom, TSA, Siemens, ABB, Bosch

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Electric Traction Motor Market to Drive Robust Growth by 2023 | Key players include CRRC, Alstom, TSA, Siemens, ABB, Bosch

January 17
21:43 2020
Electric Traction Motor Market to Drive Robust Growth by 2023 | Key players include CRRC, Alstom, TSA, Siemens, ABB, Bosch

Top players in the electric traction motor market, such as CRRC (China), Alstom (France), TSA (Austria), Siemens (Germany), ABB (Switzerland), and Bosch (Germany).
The electric traction motor market is expected to grow from an estimated USD 12.41 Billion in 2018 to USD 28.51 Billion by 2023, at a CAGR of 18.10% during the forecast period.

According to the new market research report Electric Traction Motor Market by Type (AC and DC), Power Rating (400 kW), Application (Railway, Electric Vehicles, Elevators, Conveyors, and Industrial Machinery), and Region – Global Forecast to 2023″ The global electric traction motor market is expected to grow at a CAGR of 18.10% from 2018 to 2023 to reach a market size of USD 28.51 billion by 2023. The increasing demand for carbon emission-free vehicles, increasing transportation system efficiency, and the need for reducing air pollution are expected to drive the electric traction motor market during the forecast period.

The electric traction motor market is dominated by major players that are established brand names with wide regional presence, along with many local and regional players in emerging economies. The leading players in the electric traction motor industry include CRRC (China), Alstom (France), TSA (Austria), Siemens (Germany), ABB (Switzerland), and Bosch (Germany).

Browse and in-depth TOC on “Electric Traction Motor Market”

61 – Tables

38 – Figures

129 – Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=248269129

The railway segment is a key segment of the electric traction motor market, by application, from 2018 to 2023. The market for this segment is driven by increasing investments in metro systems and high-speed trains to reduce the traffic congestion and improve transport services. Need to upgrade aging rail infrastructure is leading to the increased demand for rolling stock applications. This, in turn, is causing the rise in demand for electric traction motors that would significantly boost the efficiency of rapid transit rail cars, light rail vehicles, and freight locomotives.

The scope of the report:

  • By Type
    • AC
    • DC
  • By Power Rating
    • 200 kW to 400 kW
    • >400 kW
  • By Application
    • Railway
    • Electric vehicles
    • Others (Elevators, conveyors, and industrial machinery)
  • By Region
    • Asia Pacific
    • Europe
    • North America
    • Middle East & Africa
    • South America

AC electric traction motor market segment is expected to grow at the fastest rate from 2018 to 2023. This is due to various factors, including high efficiency and low maintenance cost compared to DC electric traction motor. AC electric traction motors are widely used in railway trains, electric vehicles, elevators, conveyors, and industrial machinery, including drilling rigs. Improved speed performance, due to variable frequency drive and high starting torque, is expected to drive the AC segment of the electric traction motor market.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=248269129

The

The electric traction motor market has been segmented by region into Asia Pacific, Europe, North America, Middle East & Africa, and South America. Asia Pacific is projected to grow at the fastest rate, from 2018 to 2023, followed by North America and Europe. Countries such as China and Japan are the largest markets in Asia Pacific and have increased their investments in the railways and production of electric vehicles in the recent past. China accounted for the maximum share in the market in Asia Pacific in 2017 and is projected to grow at the highest CAGR from 2018 to 2023. Growing urbanization and the need for reduction of carbon emission to meet air quality standards are the major factors impacting the growth of the electric traction motor market in this region.

Please Explore Relevant Report:

Permanent Magnet Motor Market by Type (PMAC, PMDC, and Brushless DC), Power Rating (Up to 25 kW, 25–100 kW, 100–300 kW, and 300 kW & Above), End-User (Industrial, Commercial & Residential, and Healthcare), and Region – Global Forecast to 2023

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