Global Railway Traction Motor Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2023-2032 Report by We Market Research
The Global Railway Traction Motor Market is valued at USD 34,260 million in 2022 and is projected to reach a value of USD 48,361 million in 2033 expanding at a CAGR of 4.4% over the forecast period of 2023-2033.
A traction motor in railways generally constitutes of an electric motor, which mainly converts the electrical energy into torque energy, and it is connected to a shaft that results in linear motion. Additionally, traction motors are powered by electricity and generates the power in order to rotate the wheels of the train. The turning force is thus, produced by traction motors that is transmitted to the wheels through the driving gear unit and axle. Also, the traction motors are mounted in the railway rolling stocks, where the wheels are housed. The reduced number of components for fewer items requires maintenance as well as reduction in frequency. The completely sealed structure and improved accessory devices that includes, cooling fans have helped to keep noise levels low in railway traction motors over the forecast period.
Railway is mainly a preferred choice and it is more economical for mass transportation of goods and products for longer distances as when compared to roadways. Also, the performance of railway engines and motors has been rising in terms of speed and safety of the locomotives because of the technological advancements. The railway traction motor market is affected by financial crisis and economic slowdown because of the pandemic situation COVID19 that has had a negative impact on the industry growth.
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Market Segmentation:
The global railway traction motor market can be segmented based on various factors, including:
- Type: The railway traction motor market can be segmented based on the type of motor, such as AC traction motors, DC traction motors, and synchronous motors.
- Application: The market can also be segmented based on the application of the motor, such as high-speed trains, locomotives, and metro trains.
- Power Rating: The market can be segmented based on the power rating of the motor, such as less than 500 kW, 500-1000 kW, and more than 1000 kW.
- Geography: The market can be segmented based on geography, such as North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
- End-Use Industry: The market can be segmented based on the end-use industry, such as passenger trains, freight trains, and others.
Key Player:
ABB Group, ALSTOM, BHEL, Bombardier, Hyundai Rotem Company, Mitsubishi Electric Corporation, Saini Group, Siemens, Sulzer Ltd., and VEM Group.
Regional Analysis:
The Global Railway Traction Motor Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, the Middle east and Africa has dominated the market growth over the forecast period. This is because of the largest revenue created by the region and its major countries namely, Latin America, Middle east, and Africa over the forecast period.
FAQs:
1. What are the major drivers which aid this Market?
2. What are the segments of this Market?
3. Which is the fastest growing region in this Market?
4. What are some major strategies used by top players for the expansion of their business in this Market?
Key Points:
Define, describe and forecast Potentiometers product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Reasons to Purchase this Report:
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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