Global Electric Traction Motor Market by Type, Power Rating, Application, Industry Vertical and Region, Global Industry Analysis and Forecast 2022 – 2029 offers assembled trends and predictions to clients. The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. The report is an intensive investigation portraying the details and the new opportunity appraisal of the market.
Electric traction motor is used in electrically powered rail vehicles such as electric locomotives and electric multiple units, as well as in electric vehicles, such as conveyors, elevators, and electric milk floats. A traction motor is used to make rotation torque on a machine, and it is usually changed into a straight-line motion.
Electric traction motor is considered as a specific class in industrial motors as they require low-torque high-speed cruising, a high rate of acceleration/deceleration, high torque low-speed hill-climbing, and a very wide range for operating speed.
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Electric vehicles are growing at a fast pace across the globe and so is investments in the railway sector, which is positively affecting the electric traction motor market. Growing focus on electric vehicles to reduce carbon emissions is anticipated to create a significant opportunity for market players to boost growth of the market during the forecast period.
Moreover, emission norms, environmental regulation, unstable fossil fuel prices, favorable government policies and subsidies are some of the factors expected to boost the market growth during the forecast period and create great opportunities for revenue generation as well.
However, motor failure due to overheating is one of the major challenges faced by market players. Plus, price volatility of raw materials such as copper and aluminum and safety and reliability concerns are other factors that can restrain the market growth.
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The global electric traction motor market is studied across major four regional markets including North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to be the largest market over the coming years in response to the presence of electric vehicle manufacturers coupled with electric vehicle battery manufacturers, leading to lower cost of electric vehicles in China and Japan. In addition to this, countries like India is rapidly expanding electric vehicle charging infrastructure, in order to increase sales and this is further expected to complement the growth of this region. Moreover, North America is expected to register significant growth due to increasing investments in the aging railway sector and growing focus on electric vehicles.
Highlights of the study report
- A thorough assessment of the matrix of vendors as well as major firms would help in understanding the competitive scenario in the market
- Information on regulatory and investment scenarios for the market
- An analysis of the factors fueling the market growth along with their influence on the projection and dynamics of the Electric Traction Motor Market
- A detailed roadmap presenting growth opportunities in the Electric Traction Motor Market along with identification of key factors influencing the market growth
- A comprehensive assessment of the many trends prevailing in the Electric Traction Motor market would help in identifying market developments
Key Segments
By Type
- AC
- DC
By Application
- Railway
- Others
By Power Rating
- Below 500 kW
- 500-1000 kW
- Above 1000 kW
By Industry Vertical
- Chemical & Petrochemical
- Oil & Gas
- Energy & Power
- Automotive
- Food & Beverages
- Healthcare
- Others
