Electric Traction Motor Market Global Growth, Opportunities, Industry Analysis & Forecast to 2026

According to New Market Research Report, The Global Electric Traction Motors Market is expected to grow from USD 11.5 billion in 2017 to USD 31.5 billion by 2026, at a CAGR of 16.7% during the forecast period.

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Top Key Player:-

CRRC (China)

Alstom (France)

TSA (Austria)

Siemens (Germany)

ABB (Switzerland)

WEG (Brazil)

BOSCH (Germany).

Electric traction motors demand has been increasing with growing demand for railway transport worldwide. Traction motor systems are made of a rotor and a stator. Application of these products in locomotives has significantly contributed to enhance sustainability in energy consumption in the industry. Industry participants have come up with several technological advancements in the present industry scenario in an attempt to enhance the efficiency of these traction motors.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Electric Traction Motors Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

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Competitive Landscape

Asia Pacific region is the fastest growing regional market in terms of consumption of these products. China, Japan, South Korea and India are the major manufacturers and even the consumers in the region. China’s current plans to increase intercity rail networks, possibly reaching 93,000 miles by 2020, along with mushrooming subway and light rail lines, the country is anticipated to account for over half of the global rail equipment expenditures in the next five years. Around 70 – 90 percent of the rail equipments are to be manufactured domestically as per the current plans. Such significant investment space provides the electric traction manufacturing industry to develop and grow to its potential.

Western Europe has been the dominant region for the last decade, however the regional market has lost significant part of its market to the developing Asia Pacific market. Germany has been the leading manufacturing market followed by Spain. The country is an emerging rail power industry, and has been maintaining the country’s biggest high-speed railway construction project which is the largest in Europe.

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.