Growing investments in the railway sector, high demand for effective motors for propulsion application, and rising focus on electric vehicles to condense carbon emissions are driving the market for electric traction motor across the globe. The electric traction motor market is also increasing at a good step in countries includes India, Australia, and South Korea owing to growing investment in railway projects, specifically related to high speed rail and metro trains. Furthermore, fluctuation in the price of raw materials such as copper and aluminium is expected to limiting the growth in the electric traction motor market.
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Global Electric Traction Motor Market Overview:
The market research study Global Electric Traction Motor analyses and assesses the market’s position during the forecast period. It is a comprehensive examination that focuses on primary and secondary drivers, market share, leading segments, and geographical analysis. Key actors, big partnerships, mergers, and acquisitions, as well as current innovation and corporate strategies, are also examined in the research.
Global Electric Traction Motor Market size is expected to reach US$ 48.13 Bn. by 2027, growing at a CAGR of 19.39% during the forecast period.
Global Electric Traction Motor Market Scope:
Using both primary and secondary research approaches, we researched the Global Electric Traction Motor Market from every viewpoint. This helped us gain a better understanding of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, customer habits, and so on. The data is then compiled and analyzed using a range of market estimation and data validation techniques. Furthermore, we have an in-house data forecasting engine that forecasts market growth through 2027.
Following the successful completion of market engineering, which included calculations for market statistics, market size estimations, market projections, market breakdown, and data triangulation, extensive primary research was conducted to gather information and verify and validate key figures. Top-down and bottom-up procedures, as well as numerous data triangulation methods, were frequently used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all statistics gathered during the whole market engineering process.
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Global Electric Traction Motor Market Segmentation:
The railway segment is estimated to share major contribution in the global electric traction motor market. The growth in the market is attributed to the increasing infrastructure of a railway across the globe. A growing focus on speed control and high starting torque essential by rail vehicles and the increasing investment in rolling stock are the major drivers for the railway applications segment.
Global Electric Traction Motor Market Key Players:
• Schneider Electric SE
• The Curtiss-Wright Corporation
• Prodrive Technologies
• Toshiba Corporation
• General Electric Co.
• CG Power and Industrial Solutions Ltd.
• Aisin
• ABB, Ltd.
• Alstom S.A.
• Siemens AG
• Delphi Automotive LLP
• Voith GmbH
• Mitsubishi Electric Corporation
• Bombardier Inc.
• American Traction Systems
• VEM Group
• Caterpillar Inc.
• TTM Rail – Transtech Melbourne Pty Ltd.
• Kawasaki Heavy Industries Ltd.
• Traktionssysteme Austria GmbH
• Hyundai Rotem Company
• Hitachi, Ltd.
• Ansaldo Signalling
• Magna International
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Primary and secondary research is used to identify industry leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry professionals such as seasoned front-line personnel, CEOs, and marketing personnel. Secondary research included a review of the leading manufacturers’ annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing personnel. Secondary data is utilized to determine percentage splits, market shares, growth rates, and market breakdowns, which are then checked using primary data. The players highlighted in this report are as follows:
Regional Analysis:
The report covers both qualitative and quantitative data and gives an in-depth look into the Global Electric Traction Motor industry area by region. It gives a segment-by-segment overview and forecast of the worldwide Global Electric Traction Motor market. It also estimates the market size and forecasts for five major regions from 2021 to 2027: North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. Each area’s Global Electric Traction Motor market is further subdivided into regions and segments. The report investigates and forecasts many countries, as well as existing trends and prospects in the field.
COVID-19 Impact Analysis on Global Electric Traction Motor Market:
We researched and analyzed the Global Electric Traction Motor Business Expansion Strategy post-COVID-19, by organizational strategic analysis, landscape, category, utilization, and leading countries, which encapsulates and analyses the Global Electric Traction Motor industry’s potential, providing statistical data on market trends, growth regulators, major challenges, PORTER analysis, and market entry strategy analysis, prospects, and forecasts. The fundamental purpose of the research is to offer industrial businesses a strategic analysis of COVID-19’s influence. Simultaneously, this study looked into the markets of major countries and highlighted their market potential in post-pandemic scenarios.
Key Questions Answered in the Global Electric Traction Motor Market Report are:
What are the most promising high-growth opportunities in the Global Electric Traction Motor sector, as defined by product category, End User, and Region?
Which Global Electric Traction Motor market segments will expand the fastest, and why?
Which regions will have the fastest growth, and why?
What are the primary elements influencing Global Electric Traction Motor market dynamics? What are the primary drivers and obstacles in the Global Electric Traction Motor market?
What are the Global Electric Traction Motor market’s weaknesses and threats?
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