Global Electric Traction Motor Market 2020 Industry research report provides an In-Depth analysis that includes an executive summary, definition, and scope of the market.
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.
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The growing demand for electric 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.
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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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