Global Electric Traction Motor Market
Overview
Electric
traction motor is a type of electric motor which is used for propulsion of a
vehicle. It is used in electrically powered rail vehicles such as electric
multiple units and electric locomotives. Furthermore, traction motor is
installed in fully hybrid and battery electric vehicles. The global electric
traction motor market is expected to grow at 18.08% CAGR during the forecast
period.
Electric
traction motor is used for propulsion of a vehicle, usually in electrically
powered rail vehicles such as electric multiple units and other electric
vehicles such as elevators, conveyors, and others. These motors are also
installed in fully hybrid and battery electric vehicles to provide rotation
torque and maintain energy efficiency.
The
growing demand for Electric
Vehicle Traction Motor Market is attributed to the increasing
investment in electric vehicles which would help in reducing carbon emission.
This would in turn require energy efficient electric traction motors. Growing
focus on electric vehicles in order to reduce carbon emissions is expected to
create an opportunity for market players to boost the growth of electric
traction motor market during the forecast period. One of the major restraints
for the global electric traction motor market is the volatility in raw material
prices.
Industry Segmentation
The
electric traction motor market has been segmented based on motors type into AC
and DC motor. Among these types, AC segment is the fastest growing segment in
the electric traction motor market as it widely used in electric vehicles and
railway sector. It has various advantages such as high efficiency, better speed
acceleration, and less maintenance compared to DC motors.
Regional Outlook
Region
wise, Asia Pacific held the largest market share of the global electric
traction motor market in 2017. It is estimated that Asia-Pacific region would
be the fastest growing market during the forecast period, mainly due to the
rising investment in railway sector, rising urbanization and proliferation of
electrification. Europe region holds significant market share and is expected
to dominate the global electric traction motor market in terms of revenue
contribution. Germany is leading country contributing to the growth of the
European market. The market is mainly driven by factors such as the gradual shift
from diesel-based to diesel-electric locomotives and electric locomotives.
Leading Players
The
key players of the global electric traction motor market are CRRC (China),
Alstom (France), ABB (Switzerland), GE (US), Siemens (Germany), Traktionsysteme
Austria, Bosch (Germany), CG Power (India), Nidec (Japan), and Skoda Electric
(Czech Republic).
Scope of the Report
This
research report provides insights into various levels of analysis, such as
industry analysis and market share analysis for the leading industry
competitors, along with their profiles. It also helps in studying the target
segments by providing views on the emerging & high-growth segments. The
market data comprises the basic assessment of the competitive scenarios and
strategies in the global electric traction motor market, including high-growth
regions and/or countries, and political and economic environments. The project
report further provides both – historical market values and pricing & cost
analysis
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