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 Research Methodology:
The innovation of passenger railcars is expected to gain impulse because of the increasing focus of rolling stock manufacturers, railroad companies, and government authorities to invention solutions for the stable increase in railway traffic across emergent and developed countries. In order to sustenance air conditioners, vehicles might reasonably increase their power consumption and ultimately raise the demand for electric traction systems.
Global Electric Traction Motor Market Overview:
The goal of this study is to provide an overview of the Global Electric Traction Motor industry as well as a detailed market segmentation by segments and geographies. The report contains critical information on the market positions of the top Global Electric Traction Motor firms, as well as important industry trends and opportunities.
The study also contains company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information for the leading industry players in the Global Electric Traction Motor market. This research looks into , regional, and corporate market trends, volume, and value. This study examines the whole Global Electric Traction Motor Market Size from a worldwide standpoint, evaluating historical data and generating estimates.
Global Electric Traction Motor Market Share 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 Market Scope:
Following the completion of market engineering, which included market statistics computations, market size estimations, market projections, market breakdown, and data triangulation, extensive primary research was conducted to gather information and verify and validate key figures. Both top-down and bottom-up approaches, as well as several data triangulation methods, were often used throughout the market engineering process to get a market evaluation and predictions for the overall market segments and sub-segments included in the Global Electric Traction Motor market study. To give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.
Top-down and bottom-up approaches are used to validate the market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
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Global Electric Traction Motor Market Segmentation:
According to estimates, the railway sector will account for a sizable portion of the global market for electric traction motors. The expanding railway infrastructure around the world is to blame for the market’s expansion. The main factors driving the railway applications segment include a growing emphasis on speed control and strong starting torque, which are required by rail cars, as well as rising investments in rolling stock.
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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Inorganic growth tactics cited in the industry included acquisitions, partnerships, and collaborations. Because of increased demand, industry participants in the Global Electric Traction Motor market are projected to benefit from excellent future growth opportunities. The following are a few firms involved in the Global Electric Traction Motor industry.
Regional Analysis:
After studying the political, economic, social, and technical elements impacting the Global Electric Traction Motor market in various regions, the report offers a detailed PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, and the Middle East, Africa, and South America.
COVID-19 Impact Analysis on Global Electric Traction Motor Market:
Customer behaviour has changed as a result of the COVID-19 epidemic in all areas of society. Industries, on the other hand, will need to revise their plans to account for changing market supply. This report provides an overview of the COVID-19’s influence on the Global Electric Traction Motor market and will assist you in developing your business in accordance with the new industry standards.
Key Questions Answered in the Global Electric Traction Motor Market Report are:
What will be the CAGR of the Global Electric Traction Motor market during the forecast period?
In the Global Electric Traction Motor industry, which market category emerged as the market leader?
Who are the main market participants in Global Electric Traction Motor?
What will the size of the Global Electric Traction Motor market be in 2027?
Which company dominated the Global Electric Traction Motor industry in terms of market share?
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