Electric Traction Motor Market, By Type, By Power Rating, By Application (Railways, Trams and Metros, Electric Vehicles, Industrial Applications, Others), By Geography

Description

Global electric traction motor market is estimated to be valued at USD 18.34 Billion in 2024 and is expected to reach USD 47.26 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 14.5% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 18.34 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	14.50%	2031 Value Projection:	US$ 47.26 Bn

Figure. Electric Traction Motor Market Share (%), By Region, 2024

Global electric traction motor market growth is driven by rapid electrification of transportation sector across the world. Electric traction motors are extensively used in electric vehicles including electric locomotives, electric multiple units, trolley cars and trams. These provide efficient propulsion to electric rail vehicles and help reduce dependence on fossil fuel-based transport systems. Stringent emission norms by various governments and growing focus on sustainable transportation has boosted demand for electric locomotives and rail vehicles, thus, driving the electric traction motor market growth. Supportive government policies and initiatives towards adoption of green mobility solutions can also drive the market growth. However, high initial costs of electric vehicles and infrastructure dependency can hamper the electric traction motor market growth.

Market Dynamics:

Global electric traction motor market growth is driven by factors like rising sales of electric vehicles worldwide due to stringent emission norms, tax incentives on EVs and growing consumer awareness. Investments by various governments in development of electric rail infrastructure to replace aging diesel trains can drive the market growth. High costs associated with electric vehicle production and battery technology can hamper the large-scale adoption of electric vehicles. Moreover, lack of standardization and limited charging infrastructure can also hamper the market growth. Constant technological advancements in motor efficiency and control systems along with declining battery prices can offer lucrative opportunities for the market growth.

Key features of the study:

This report provides in-depth analysis of the global electric traction motor market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global electric traction motor market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include ABB Ltd, Alstom SA, BorgWarner Inc., CG Power and Industrial Solutions Ltd, CRRC Corporation Limited, Dana Incorporated, General Electric Company, Hitachi, Ltd., Kirloskar Electric Company Ltd, Magna International Inc., Mitsubishi Electric Corporation, Nidec Corporation, Robert Bosch GmbH, Siemens AG, Traktionssysteme Austria (TSA) GmbH, ZF Friedrichshafen AG

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

Global electric traction motor market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric traction motor market

Detailed Segmentation-

Type Insights (Revenue, USD Bn, 2019 - 2031)
- AC Motors
- DC Motors
Power Rating Insights (Revenue, USD Bn, 2019 - 2031)
- 100 kW to 500 kW
- Less than 100 kW
- More than 500 kW
Application Insights (Revenue, USD Bn, 2019 - 2031)
- Railways
- Trams and Metros
- Electric Vehicles (EVs)
- Industrial Applications
- Others
Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- ABB Ltd
- Alstom SA
- BorgWarner Inc.
- CG Power and Industrial Solutions Ltd
- CRRC Corporation Limited
- Dana Incorporated
- General Electric Company
- Hitachi, Ltd.
- Kirloskar Electric Company Ltd
- Magna International Inc.
- Mitsubishi Electric Corporation
- Nidec Corporation
- Robert Bosch GmbH
- Siemens AG
- Traktionssysteme Austria (TSA) GmbH
- ZF Friedrichshafen AG

Product Code: CMI7381

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Type
- Market Snippet, By Power Rating
- Market Snippet, By Application
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Electric Traction Motor Market, By Type, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
AC Motors
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
DC Motors
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

5. Global Electric Traction Motor Market, By Power Rating, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
100 kW to 500 kW
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Less than 100 kW
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
More than 500 kW
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

6. Global Electric Traction Motor Market, By Application, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Railways
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Trams and Metros
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Electric Vehicles (EVs)
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Industrial Applications
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

7. Global Electric Traction Motor Market, By Region, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
North America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Power Rating, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Power Rating, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Power Rating, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Power Rating, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Power Rating, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Israel
  - GCC Countries
  - Rest of the Middle East
Africa
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Power Rating, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Company Profiles
- ABB Ltd
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Alstom SA
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- BorgWarner Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- CG Power and Industrial Solutions Ltd
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- CRRC Corporation Limited
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Dana Incorporated
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- General Electric Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hitachi, Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kirloskar Electric Company Ltd
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Magna International Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mitsubishi Electric Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Nidec Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Robert Bosch GmbH
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Siemens AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Traktionssysteme Austria (TSA) GmbH
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- ZF Friedrichshafen AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
About us and Sales Contact