Railway Traction Motor Market Growth, Size, Trends Analysis- By Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Railway Traction Motor Market Growth, Size, Trends Analysis - By Type, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Railway Traction Motor Market Introduction and Overview

According to SPER Market Research, ‘Railway Traction Motor Market Size- By Type, By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Railway Traction Motor Market is estimated to reach USD 55.81 billion by 2033 with a CAGR of 4.63%.

An electric motor that transforms electrical energy into torque energy and is coupled to a shaft to produce linear motion is known as a traction motor in railroads. Traction motors are electrically powered devices that turn the train’s wheels. The driving gear unit and axle transfer the turning force generated by traction motors to the wheels. Usually, traction motors are installed in the rolling stocks of railroads, which house the wheels.

The COVID-19 epidemic caused a major setback for the global railway traction motor market. Lockdowns were imposed by governments all over the world to stop the virus’s spread, which led to a decline in the use of railway traction motors. A number of railway projects and activities were also delayed as a result of this circumstance, which also had an impact on important supply chain operations.

Scope of the Report:

Report Metric Details
Market size available for years 2020-2033
Base year considered 2023
Forecast period 2024-2033
Segments covered By Type, By Application.
Regions covered North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
Companies Covered ABB Group, ALSTOM, BHEL, Bombardier, Hyundai Rotem Company, Mitsubishi Electric Corporation, Saini Group, Siemens, Sulzer Ltd, Others.

Railway Traction Motor Market Segmentation:

By Type: Based on the Type, Global Railway Traction Motor Market is segmented as; DC Traction Motor, AC Traction Motor, Synchronous AC Traction Motor.

By Application: Based on the Application, Global Railway Traction Motor Market is segmented as; Diesel Locomotive, Electric Multiple Units, Electric Locomotives, Diesel-Electric Locomotives.

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.