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PUBLISHER: IMARC | PRODUCT CODE: 1521185
PUBLISHER: IMARC | PRODUCT CODE: 1521185
Railway Traction Motor Market Report by Type (DC Traction Motor, AC Traction Motor, Synchronous AC Traction Motor), Application (Diesel Locomotive, Electric Multiple Units, Electric Locomotives, Diesel-Electric Locomotives), and Region 2024-2032
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The global railway traction motor market size reached US$ 7.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.6% during 2024-2032.
Railway traction motors are electric motors generating power for rotating wheels of the train. They have a sealed structure, which prevents dust intrusion and requires less maintenance, and improved accessory devices like cooling fans that help keep noise levels low. They are highly reliable due to the integration of the stator using high-frequency heating. As a result, railway traction motors find extensive applications in electric multiple units (EMU) and diesel, electric, and diesel-electric locomotives across the globe.
Railway Traction Motor Market Trends:
At present, there is a rise in the expansion of the railway network around the world, which assists in transporting goods and products across longer distances compared to roadways. This represents one of the key factors driving the market. Moreover, there are various benefits of traction motors, which include compact design, power efficiency, and durability. This, coupled with different initiatives undertaken by governments of numerous countries to promote the usage of electric motors, is stimulating the growth of the market. In addition, there is an increase in the electrification of railway networks and the conversion of conventional diesel locomotives into electric locomotives. In line with this, the rising installation of high-capacity lithium-ion batteries in rolling stock and using them in traction power is offering lucrative growth opportunities to industry investors and key market players. These players are extensively investing in research and development (R&D) activities for enhancing railway systems, which is enabling them to bolster their overall sales and increase profitability. Besides this, rising investments in electric vehicles (EVs) and the growing need to reduce carbon emissions worldwide are other factors catalyzing the demand for railway traction motors.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global railway traction motor market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type and application.
Breakup by Type:
DC Traction Motor
AC Traction Motor
Synchronous AC Traction Motor
Breakup by Application:
Diesel Locomotive
Electric Multiple Units
Electric Locomotives
Diesel-Electric Locomotives
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Alstom SA, CG Power and Industrial Solutions Limited (Murugappa Group), Hitachi Ltd., Hyundai Motor Company, Mitsubishi Electric Corporation, Saini Group, Siemens Aktiengesellschaft, Sulzer Ltd. and VEM Group.
Key Questions Answered in This Report
- 1. How big is the global railway traction motor market?
- 2. What is the expected growth rate of the global railway traction motor market during 2024-2032?
- 3. What are the key factors driving the global railway traction motor market?
- 4. What has been the impact of COVID-19 on the global railway traction motor market?
- 5. What is the breakup of the global railway traction motor market based on the type?
- 6. What is the breakup of the global railway traction motor market based on the application?
- 7. What are the key regions in the global railway traction motor market?
- 8. Who are the key players/companies in the global railway traction motor market?
Product Code: SR112024A5783
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Railway Traction Motor Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 DC Traction Motor
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 AC Traction Motor
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Synchronous AC Traction Motor
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Application
- 7.1 Diesel Locomotive
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Electric Multiple Units
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Electric Locomotives
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Diesel-Electric Locomotives
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 SWOT Analysis
- 9.1 Overview
- 9.2 Strengths
- 9.3 Weaknesses
- 9.4 Opportunities
- 9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 ABB Ltd
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.1.3 Financials
- 13.3.1.4 SWOT Analysis
- 13.3.2 Alstom SA
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.2.3 Financials
- 13.3.2.4 SWOT Analysis
- 13.3.3 CG Power and Industrial Solutions Limited (Murugappa Group)
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.3.3 Financials
- 13.3.3.4 SWOT Analysis
- 13.3.4 Hitachi Ltd.
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.4.3 Financials
- 13.3.4.4 SWOT Analysis
- 13.3.5 Hyundai Motor Company
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.5.3 Financials
- 13.3.5.4 SWOT Analysis
- 13.3.6 Mitsubishi Electric Corporation
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.6.3 Financials
- 13.3.6.4 SWOT Analysis
- 13.3.7 Saini Group
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.8 Siemens Aktiengesellschaft
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.8.3 Financials
- 13.3.8.4 SWOT Analysis
- 13.3.9 Sulzer Ltd.
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.9.3 Financials
- 13.3.10 VEM Group
- 13.3.10.1 Company Overview
- 13.3.10.2 Product Portfolio
- 13.3.1 ABB Ltd
Product Code: SR112024A5783
List of Figures
- Figure 1: Global: Railway Traction Motor Market: Major Drivers and Challenges
- Figure 2: Global: Railway Traction Motor Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Railway Traction Motor Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Railway Traction Motor Market: Breakup by Type (in %), 2023
- Figure 5: Global: Railway Traction Motor Market: Breakup by Application (in %), 2023
- Figure 6: Global: Railway Traction Motor Market: Breakup by Region (in %), 2023
- Figure 7: Global: Railway Traction Motor (DC Traction Motor) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 8: Global: Railway Traction Motor (DC Traction Motor) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 9: Global: Railway Traction Motor (AC Traction Motor) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 10: Global: Railway Traction Motor (AC Traction Motor) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 11: Global: Railway Traction Motor (Synchronous AC Traction Motor) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: Global: Railway Traction Motor (Synchronous AC Traction Motor) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: Global: Railway Traction Motor (Diesel Locomotive) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: Global: Railway Traction Motor (Diesel Locomotive) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Global: Railway Traction Motor (Electric Multiple Units) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Global: Railway Traction Motor (Electric Multiple Units) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Global: Railway Traction Motor (Electric Locomotives) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Global: Railway Traction Motor (Electric Locomotives) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Global: Railway Traction Motor (Diesel-Electric Locomotives) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Global: Railway Traction Motor (Diesel-Electric Locomotives) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: North America: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: North America: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: United States: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: United States: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: Canada: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: Canada: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: Asia-Pacific: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: Asia-Pacific: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: China: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: China: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 31: Japan: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 32: Japan: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 33: India: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 34: India: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 35: South Korea: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 36: South Korea: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 37: Australia: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 38: Australia: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 39: Indonesia: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 40: Indonesia: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 41: Others: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 42: Others: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 43: Europe: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 44: Europe: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 45: Germany: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 46: Germany: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 47: France: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 48: France: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 49: United Kingdom: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 50: United Kingdom: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 51: Italy: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 52: Italy: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 53: Spain: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 54: Spain: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 55: Russia: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 56: Russia: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 57: Others: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 58: Others: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 59: Latin America: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 60: Latin America: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 61: Brazil: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 62: Brazil: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 63: Mexico: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 64: Mexico: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 65: Others: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 66: Others: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 67: Middle East and Africa: Railway Traction Motor Market: Sales Value (in Million US$), 2018 & 2023
- Figure 68: Middle East and Africa: Railway Traction Motor Market: Breakup by Country (in %), 2023
- Figure 69: Middle East and Africa: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: Global: Railway Traction Motor Industry: SWOT Analysis
- Figure 71: Global: Railway Traction Motor Industry: Value Chain Analysis
- Figure 72: Global: Railway Traction Motor Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Railway Traction Motor Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: Railway Traction Motor Market Forecast: Breakup by Type (in Million US$), 2024-2032
- Table 3: Global: Railway Traction Motor Market Forecast: Breakup by Application (in Million US$), 2024-2032
- Table 4: Global: Railway Traction Motor Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 5: Global: Railway Traction Motor Market: Competitive Structure
- Table 6: Global: Railway Traction Motor Market: Key Players
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