Electric Traction Motor Market, By Type (AC Motors and DC Motors), By Power Rating (100 kW to 500 kW, Less than 100 kW, More than 500 kW), By Application (Railways, Trams and Metros, Electric Vehicles (EVs), Industrial Applications, Others), By Geography

Electric Traction Motor Market, By Type (AC Motors and DC Motors), By Power Rating (100 kW to 500 kW, Less than 100 kW, More than 500 kW), By Application (Railways, Trams and Metros, Electric Vehicles (EVs), Industrial Applications, Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Global electric traction motor market growth is driven by rapid electrification of transportation sector across the world. Electric traction motors are extensively used in electric vehicles including electric locomotives, electric multiple units, trolley cars and trams. These provide efficient propulsion to electric rail vehicles and help reduce dependence on fossil fuel-based transport systems. Stringent emission norms by various governments and growing focus on sustainable transportation has boosted demand for electric locomotives and rail vehicles, thus, driving the electric traction motor market growth. Supportive government policies and initiatives towards adoption of green mobility solutions can also drive the market growth. However, high initial costs of electric vehicles and infrastructure dependency can hamper the electric traction motor market growth.

Market Dynamics:

Global electric traction motor market growth is driven by factors like rising sales of electric vehicles worldwide due to stringent emission norms, tax incentives on EVs and growing consumer awareness. Investments by various governments in development of electric rail infrastructure to replace aging diesel trains can drive the market growth. High costs associated with electric vehicle production and battery technology can hamper the large-scale adoption of electric vehicles. Moreover, lack of standardization and limited charging infrastructure can also hamper the market growth. Constant technological advancements in motor efficiency and control systems along with declining battery prices can offer lucrative opportunities for the market growth.

Key features of the study:

This report provides in-depth analysis of the global electric traction motor market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global electric traction motor market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include ABB Ltd, Alstom SA, BorgWarner Inc., CG Power and Industrial Solutions Ltd, CRRC Corporation Limited, Dana Incorporated, General Electric Company, Hitachi, Ltd., Kirloskar Electric Company Ltd, Magna International Inc., Mitsubishi Electric Corporation, Nidec Corporation, Robert Bosch GmbH, Siemens AG, Traktionssysteme Austria (TSA) GmbH, ZF Friedrichshafen AG

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

Global electric traction motor market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric traction motor market

Detailed Segmentation-

Type Insights (Revenue, USD Bn, 2019 - 2031)

AC Motors

DC Motors

Power Rating Insights (Revenue, USD Bn, 2019 - 2031)

100 kW to 500 kW

Less than 100 kW

More than 500 kW

Application Insights (Revenue, USD Bn, 2019 - 2031)

Railways

Trams and Metros

Electric Vehicles (EVs)

Industrial Applications

Others

Regional Insights (Revenue, USD Bn, 2019 - 2031)

North America

U.S.

Canada

Latin America

Brazil

Argentina

Mexico

Rest of Latin America

Europe

Germany

U.K.

Spain

France

Italy

Russia

Rest of Europe

Asia Pacific

China

India

Japan

Australia

South Korea

ASEAN

Rest of Asia Pacific

Middle East

GCC Countries

Israel

Rest of Middle East

Africa

South Africa

North Africa

Central Africa

Key Players Insights

ABB Ltd

Alstom SA

BorgWarner Inc.

CG Power and Industrial Solutions Ltd

CRRC Corporation Limited

Dana Incorporated

General Electric Company

Hitachi, Ltd.

Kirloskar Electric Company Ltd

Magna International Inc.

Mitsubishi Electric Corporation

Nidec Corporation

Robert Bosch GmbH

Siemens AG

Traktionssysteme Austria (TSA) GmbH

ZF Friedrichshafen AG