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Global Railway Traction Motor Market Analysis by Type, application, Region and segments forecast till 2033
Market Overview
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.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 34,260 Million |
Market Forecast in 2033 | USD 48,361 Million |
CAGR % 2023-2033 | 4.4% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product Size, end-user industry, company share, company heatmap, company Material Type Size capacity, growth factors and more |
Segments Covered | Type, application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | ABB Group, ALSTOM, BHEL, Bombardier, Hyundai Rotem Company, Mitsubishi Electric Corporation, Saini Group, Siemens, Sulzer Ltd., and VEM Group. |
Global Railway Traction Motor Market: Description
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.
One of the major factor that has boosted the market growth over the forecast period is the incorporation of the traction motors in railway engines. Also, the lower emission, and the low manufacturing as well as maintenance costs have fuelled the market growth over the forecast period. Additionally, traction motors have become a significant component in railway locomotives and the popularity of metro locomotives, mainly in the urban areas is also anticipated to drive the demand for railway traction motors over the forecast period.
One of the major restrain that has hampered the market growth over the forecast period is the rising price of material and high investment costs. These factors have acted as a major restrain to the market growth. This is because not everyone is able to afford so much and thus, there is less production by the major companies.
Global Railway Traction Motor Market- Segmental Analysis:
Type Insights
The AC Traction Motor segment has dominated the market growth over the forecast period. This is because the traction motors are subjected to extreme temperatures that results from friction between fast-moving components and parts. This has boosted the market segment growth.
Application Insights
The electric locomotives segment has dominated the market growth over the forecast period.
Regional Insights
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.
Competitive Analysis
Some of the prominent players operating in the Global Railway Traction Motor Market are ABB Group, ALSTOM, BHEL, Bombardier, Hyundai Rotem Company, Mitsubishi Electric Corporation, Saini Group, Siemens, Sulzer Ltd., and VEM Group.
Global Railway Traction Motor Market- Segmental Analysis
Based on Type
DC Traction Motor
AC Traction Motor
Synchronous AC Traction Motor
Based on Application
Diesel Locomotive
Electric Multiple Units
Electric Locomotives
Diesel-Electric Locomotives
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Railway Traction Motor Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both Type Sizeion and consumption point of view at the regional and country level. Key Factors considered within the report scope are Type Sizeion capacity by countries/regions, average End Use, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Railway Traction Motor Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
Business Model
Type Sizeion Capacity, Revenue, Sales, Gross Margin
Key Business Strategy
SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Type Size in taking a key decision within the business:
Company Share Analysis from 2020-2022
Company Analysis by Revenue and Sales
Company Type Size Capacity, Gross Margin
Company Share Analysis by Card Type Size/Card Type Size
Company Share Analysis by Type Size/Specification
