This detailed market study covers electric traction motor market growth opportunities and competitive scenarios, which can assist the stakeholders in understanding market trends and prospects in the electric traction motor market. The market report focuses on data from a combination of primary and secondary sources and analyses the information using numerous tools. The research report also offers a detailed analysis of each segment in the global electric traction motor market and evaluates the impact of COVID-19 outbreak on the industry.
Global Electric Traction Motor Market Competitive Rivalry
The market report includes an analysis of the competitive landscape present in the industry. It consists of an assessment of the existing and ongoing trends that players can invest in. The notable players in the global electric traction motor market are CRRC Corporation Limited, Hitachi, Ltd., Robert Bosch GmbH, AMETEK, Inc., CG Power and Industrial Solutions Limited, American Traction Systems, ABB, GE, Johnson Electric, and Nidec Corporation, among others.
Global Electric Traction Motor Market Drivers
The significant factors contributing to the growth of the global electric traction motor market include the rising spending on the railway sector and several supportive government subsidies and regulations across the globe. The continuous technological advancements and increasing R&D activities for the development of advanced and efficient electric traction motor are further surging the growth of the electric traction motor market size. Moreover, the rising electrification in the railways and the strong demand for electric vehicles across several countries due to the growing concerns regarding carbon emissions will bring innumerable growth opportunities in the market.
The implementation of electric traction motor offers remarkable benefits, including increased efficiency, ability to reduce the use of electricity, and minimum requirement of maintenance. The increasing emphasis on the speed railways, along with the expanding metro rail network, are further paving the way for growth of the global electric traction motor market. On the other hand, the high cost required for the manufacturing and designing of the motor and the various challenges regarding the overheating of the motor is likely to hamper the growth of the market over the coming years.
Global Electric Traction Motor Market Segmentation
The chapter of segmentation provides the readers with an overview of the electric traction motor market, such as its products, applications, and other relevant factors of the industry. Understanding the market segments helps in identifying the importance of different factors that surges market growth over the forecast period (2020-2027).
Segment by Type:
- DC Electric Traction Motor
- AC Electric Traction Motor
Segment by Power Rating:
- <200 KW
- 200-400 KW
- >400 KW
Segment by Application:
- Electric Vehicles
- Hybrid Electric Vehicles
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicles
- Fuel Cell Vehicles
Segment by Region:
- North America
- United States of America
- Asia Pacific
- Rest of APAC
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
- Rest of the world (remaining countries of the LAMEA region)
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