Global Railway Traction Motors Market Analysis & Trends - Industry Forecast to 2030
Railway Traction Motors: Market Size
From $55.19 billion in 2024, the global Railway Traction Motors market is projected to reach $86.16 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 7.8% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include, increase in the number of railway projects, electrification in conventional railways and adoption of monorails and metros.
Global Railway Traction Motors Market: Market Dynamics
The global railway traction motor market is predicted to advance at a varied pace across varied geographical regions. The international market is envisaged to live through certain transformations in the industry directed towards the improvement of railway systems on the back of intensified research and development activities. The market is expected to be influenced by the prominence of the need to improve performance, demand for comfort by consumers, observance of regulatory standards, and slimming down of expenditures.
Rise in the number of applications for railway traction motors in heavy machineries, locomotives, and multiple electric units among others, significantly reduces the production and maintenance costs. The cost benefits accompanying the production and aftermarket services of traction motors are expected to fuel the railway traction motor market growth.
On the other hand, the high capital investment is likely to obstruct the profit boundaries. In addition, development in railroad technologies and stringent regulations pertaining to vehicular emissions will further boost for the railway traction motors market.
Impact of COVID-19 on Railway Traction Motors
The outbreak of COVID-19 has a negative impact on the railway traction motors market. The trading conditions faced numerous challenges because of the pandemic. Demand for motors decreased year-on-year in all the regions in spite of a strong rebound in China, which led to improved order production. Due to COVID-19, the vendors have been facing abrupt shutdowns of factories of manufacturing units, thereby disrupting the ability to produce or supply goods and services. The pandemic has had an undesirable effect on the global manufacturing market and has resulted in the closure of industrial development units in a variety of sectors over the past few months. Decreased demand for industrial machinery due to disruptions in the supply chain, due to lockdowns enforced across the globe to mitigate the spread of the virus is expected to adversely impact the development of the global railway traction motors market.
By Type
Synchronous Alternating Current Traction Motor Segment Dominate the Market in 2024
The synchronous alternating current traction motor segment made huge revenue in 2024 and growing its prominence during the forecast period. Traction motor systems are perceiving innovative developments as transportation facilities becomes more sustainable. Globally, electrified rail lines are increasing rapidly encouraging companies to advance development of frequency, voltage and braking systems. Light rail is becoming increasingly prevalent and agencies are seeking reliable electrification technologies. Permanent magnet synchronous motors along with induction motors are being utilized for improving the efficiency of rolling stock traction drive systems.
By Geography
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific is likely to have a huge demand in the forecast period owing to the rise in demand for speed railways. Railway modernization programs will be playing a key role in future expansion of the railway sector. Fully digitalized control systems, internet of things (IoT) enabled networks, and powerful electric locomotives, are likely to evolve and reinforce the functionalities and capabilities of railway sector in the forecast period.
List of the Key Players Profiled in the Market Include:
• ABB Ltd.
• Alstom Holdings SA
• Bharat Heavy Electricals Ltd.
• Bombardier Inc.
• Caterpillar Inc.
• General Electric Co.
• Hyundai Motor Co.
• Siemens AG
• Toshiba International Corp.
• Traktionssysteme Austria GmbH
List of the Regions/Countries Profiled in the Market Include:
North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others
- 1 Market Outline
- 1.1 Definition
- 1.2 Market Segmentation & Scope
- 1.3 Market Trends
- 1.4 Regulatory Factors
- 1.5 Product Analysis
- 1.6 Application Analysis
- 1.7 End User Analysis
- 1.8 Strategic Benchmarking
- 1.9 Opportunity Analysis
- 2 Executive Summary
- 3 Research Methodology and Data Source
- 3.1 Methodology/Research Approach
- 3.1.1 Research Programs/Design
- 3.1.2 Market Size Estimation
- 3.2 Data Source and Assumptions
- 3.2.1 Purchased Database
- 3.2.2 Company Repository
- 3.2.3 Secondary Sources
- 3.2.4 Primary Research
- 3.2.5 List of Assumptions
- 4 Market Overview
- 4.1 Current Trends
- 4.1.1 Growing Discretionary Capital
- 4.1.2 Rise in Awareness of Hospital Acquired Infections (HAI)
- 4.1.3 Mounting Care about Prosperity and Sanitation in Emerging Economies
- 4.1.4 Growth Opportunities/Investment Opportunities
- 4.2 Drivers
- 4.3 Constraints
- 4.4 Impact of COVID-19
- 5 Market Factor Analysis
- 5.1 Porters Five Forces
- 5.1.1 Bargaining power of suppliers
- 5.1.2 Bargaining power of buyers
- 5.1.3 Threat of substitutes
- 5.1.4 Threat of new entrants
- 5.1.5 Competitive rivalry
- 5.2 Value Chain Analysis/Supply Chain Analysis
- 6 Consumer behaviour analysis/Consumer Research
- 6.1 Consumer trends and preferences
- 6.2 Factors affecting buying decision
- 6.3 Consumer product adoption
- 6.4 Observation & Recommendations
- 7 Medical Device Coatings Market, By Product
- 7.1 Adhesive Coatings
- DATA TABLE Adhesive Coatings Market Forecast to 2030 (US$ MN)
- 7.2 Antimicrobial Coatings
- DATA TABLE Antimicrobial Coatings Market Forecast to 2030 (US$ MN)
- 7.3 Anti-Thrombogenic Coatings
- DATA TABLE Anti-Thrombogenic Coatings Market Forecast to 2030 (US$ MN)
- 7.4 Biologically Active Coatings
- DATA TABLE Biologically Active Coatings Market Forecast to 2030 (US$ MN)
- 7.5 Drug-Eluting Coatings
- DATA TABLE Drug-Eluting Coatings Market Forecast to 2030 (US$ MN)
- 7.6 Hydrophilic Coatings
- DATA TABLE Hydrophilic Coatings Market Forecast to 2030 (US$ MN)
- 7.7 Hydrophobic Coatings
- DATA TABLE Hydrophobic Coatings Market Forecast to 2030 (US$ MN)
- 8 Medical Device Coatings Market, By Material
- 8.1 Metal
- DATA TABLE Metal Market Forecast to 2030 (US$ MN)
- 8.1.1 Aluminum
- DATA TABLE Aluminum Market Forecast to 2030 (US$ MN)
- 8.1.2 Silver
- DATA TABLE Silver Market Forecast to 2030 (US$ MN)
- 8.1.3 Titanium
- DATA TABLE Titanium Market Forecast to 2030 (US$ MN)
- 8.2 Ceramics
- DATA TABLE Ceramics Market Forecast to 2030 (US$ MN)
- 8.3 Polymers
- DATA TABLE Polymers Market Forecast to 2030 (US$ MN)
- 8.3.1 Parylene
- DATA TABLE Parylene Market Forecast to 2030 (US$ MN)
- 8.3.2 Silicones
- DATA TABLE Silicones Market Forecast to 2030 (US$ MN)
- 8.3.3 Fluoropolymers
- DATA TABLE Fluoropolymers Market Forecast to 2030 (US$ MN)
- 8.3.3.1 Polytetrafluoroethylene (PTFE)
- 8.3.3.2 Polyvinylidene Difluoride (PVDF)
- 9 Medical Device Coatings Market, By Application
- 9.1 Cardiovascular
- DATA TABLE Cardiovascular Market Forecast to 2030 (US$ MN)
- 9.2 Dentistry
- DATA TABLE Dentistry Market Forecast to 2030 (US$ MN)
- 9.3 General Surgery
- DATA TABLE General Surgery Market Forecast to 2030 (US$ MN)
- 9.4 Gynecology
- DATA TABLE Gynecology Market Forecast to 2030 (US$ MN)
- 9.5 Neurology
- DATA TABLE Neurology Market Forecast to 2030 (US$ MN)
- 9.6 Ophthalmology
- DATA TABLE Ophthalmology Market Forecast to 2030 (US$ MN)
- 9.7 Orthopedic Implants
- DATA TABLE Orthopedic Implants Market Forecast to 2030 (US$ MN)
- 9.8 Urology & Gastroenterology
- DATA TABLE Urology & Gastroenterology Market Forecast to 2030 (US$ MN)
- 10 Medical Device Coatings Market, By End User
- 10.1 Hospitals
- DATA TABLE Hospitals Market Forecast to 2030 (US$ MN)
- 10.2 Clinics
- DATA TABLE Clinics Market Forecast to 2030 (US$ MN)
- 11 Medical Device Coatings Market, By Geography
- 11.1 North America
- DATA TABLE North America Market Forecast by Countries to 2030 (US$ MN)
- 11.1.1 US
- 11.1.2 Canada
- 11.1.3 Mexico
- 11.2 Europe
- DATA TABLE Europe Market Forecast by Countries to 2030 (US$ MN)
- 11.2.1 Germany
- 11.2.2 U.K
- 11.2.3 Italy
- 11.2.4 France
- 11.2.5 Spain
- 11.2.6 Rest of Europe
- 11.3 Asia Pacific
- DATA TABLE Asia Pacific Market Forecast by Countries to 2030 (US$ MN)
- 11.3.1 China
- 11.3.2 Japan
- 11.3.3 India
- 11.3.4 Australia
- 11.3.5 New Zealand
- 11.3.6 Rest of Asia Pacific
- 11.4 Middle East
- DATA TABLE Middle East Market Forecast by Countries to 2030 (US$ MN)
- 11.4.1 Saudi Arabia
- 11.4.2 UAE
- 11.4.3 Rest of Middle East
- 11.5 Latin America
- DATA TABLE Latin America Market Forecast by Countries to 2030 (US$ MN)
- 11.5.1 Argentina
- 11.5.2 Brazil
- 11.5.3 Rest of Latin America
- 11.6 Rest of the World (RoW)
- DATA TABLE Rest of the World (RoW) Market Forecast by Countries to 2030 (US$ MN)
- 11.6.1 South Africa
- 11.6.2 Others
- 12 Key Player Activities
- 12.1 Acquisitions & Mergers
- 12.2 Agreements, Partnerships, Collaborations and Joint Ventures
- 12.3 Product Launch & Expansions
- 12.4 Other Activities
- 13 Leading Companies
- 13.1 AdvanSource Biomaterials Corp.
- 13.2 AeonClad Coatings LLC
- 13.3 Allvivo Vascular Inc.
- 13.4 Armoloy of Connecticut Inc.
- 13.5 AST Products Inc.
- 13.6 Biocoat Inc.
- 13.7 Carmeda AB
- 13.8 Covalon Technologies Ltd.
- 13.9 Hemoteq AG
- 13.10 Hydromer Inc.
- 13.11 Materion Corporation
- 13.12 N2 Biomedical
- 13.13 Precision Coating Co. Inc.
- 13.14 Royal DSM
- 13.15 Specialty Coating Systems Inc.
- List of Tables
- Table 1 Global Medical Device Coatings Market By Region, Market Forecast (2022-2030) (US $MN)
- Table 2 Global Medical Device Coatings Market By Product, Market Forecast (2022-2030) (US $MN)
- Table 3 Global Medical Device Coatings Market By Adhesive Coatings, Market Forecast (2022-2030) (US $MN)
- Table 4 Global Medical Device Coatings Market By Antimicrobial Coatings, Market Forecast (2022-2030) (US $MN)
- Table 5 Global Medical Device Coatings Market By Anti-Thrombogenic Coatings, Market Forecast (2022-2030) (US $MN)
- Table 6 Global Medical Device Coatings Market By Biologically Active Coatings, Market Forecast (2022-2030) (US $MN)
- Table 7 Global Medical Device Coatings Market By Drug-Eluting Coatings, Market Forecast (2022-2030) (US $MN)
- Table 8 Global Medical Device Coatings Market By Hydrophilic Coatings, Market Forecast (2022-2030) (US $MN)
- Table 9 Global Medical Device Coatings Market By Hydrophobic Coatings, Market Forecast (2022-2030) (US $MN)
- Table 10 Global Medical Device Coatings Market By Material, Market Forecast (2022-2030) (US $MN)
- Table 11 Global Medical Device Coatings Market By Metal, Market Forecast (2022-2030) (US $MN)
- Table 12 Global Medical Device Coatings Market By Aluminum, Market Forecast (2022-2030) (US $MN)
- Table 13 Global Medical Device Coatings Market By Silver, Market Forecast (2022-2030) (US $MN)
- Table 14 Global Medical Device Coatings Market By Titanium, Market Forecast (2022-2030) (US $MN)
- Table 15 Global Medical Device Coatings Market By Ceramics, Market Forecast (2022-2030) (US $MN)
- Table 16 Global Medical Device Coatings Market By Polymers, Market Forecast (2022-2030) (US $MN)
- Table 17 Global Medical Device Coatings Market By Parylene, Market Forecast (2022-2030) (US $MN)
- Table 18 Global Medical Device Coatings Market By Silicones, Market Forecast (2022-2030) (US $MN)
- Table 19 Global Medical Device Coatings Market By Fluoropolymers, Market Forecast (2022-2030) (US $MN)
- Table 20 Global Medical Device Coatings Market By Application, Market Forecast (2022-2030) (US $MN)
- Table 21 Global Medical Device Coatings Market By Cardiovascular, Market Forecast (2022-2030) (US $MN)
- Table 22 Global Medical Device Coatings Market By Dentistry, Market Forecast (2022-2030) (US $MN)
- Table 23 Global Medical Device Coatings Market By General Surgery, Market Forecast (2022-2030) (US $MN)
- Table 24 Global Medical Device Coatings Market By Gynecology, Market Forecast (2022-2030) (US $MN)
- Table 25 Global Medical Device Coatings Market By Neurology, Market Forecast (2022-2030) (US $MN)
- Table 26 Global Medical Device Coatings Market By Ophthalmology, Market Forecast (2022-2030) (US $MN)
- Table 27 Global Medical Device Coatings Market By Orthopedic Implants, Market Forecast (2022-2030) (US $MN)
- Table 28 Global Medical Device Coatings Market By Urology & Gastroenterology, Market Forecast (2022-2030) (US $MN)
- Table 29 Global Medical Device Coatings Market By End User, Market Forecast (2022-2030) (US $MN)
- Table 30 Global Medical Device Coatings Market By Hospitals, Market Forecast (2022-2030) (US $MN)
- Table 31 Global Medical Device Coatings Market By Clinics, Market Forecast (2022-2030) (US $MN)
- NOTE: Tables for North America, Europe, Asia Pacific, Middle East, Latin America and Rest of the World are represented in the same manner above.
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