Traction Motor Market Report: Trends, Forecast and Competitive Analysis to 2030

Traction Motor Trends and Forecast

The future of the global traction motor market looks promising with opportunities in the railway, electric vehicle, and industrial vehicle markets. The global traction motor market is expected to reach an estimated $22.1 billion by 2030 with a CAGR of 8.3% from 2024 to 2030. The major drivers for this market are increasing demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs) and ongoing technological advancements in traction motor efficiency & performance.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Traction Motor by Segment

The study includes a forecast for the global traction motor by type, application, and region.

Traction Motor Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• AC Traction Motor
• DC Traction Motor
• Synchronous Motor

Traction Motor Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Railways
• Electric Vehicles
• Industrial Vehicles
• Others

Traction Motor Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Traction Motor Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies traction motor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the traction motor companies profiled in this report include-

• Toshiba International
• CRRC
• Hitachi
• Wabtec
• SKODA TRANSPORTATION
• Mitsubishi Electric
• Siemens
• American Traction Systems
• HYUNDAI ROTEM
• ABB

Traction Motor Market Insights

Lucintel forecasts that AC traction motor is expected to witness the highest growth over the forecast period.

Within this market, electric vehicle is expected to witness the highest growth over the forecast period.

APAC is expected to witness the highest growth over the forecast period.

Features of the Global Traction Motor Market

Market Size Estimates: Traction motor market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Traction motor market size by type, application, and region in terms of value ($B).

Regional Analysis: Traction motor market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the traction motor market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the traction motor market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the traction motor market size?

Answer: The global traction motor market is expected to reach an estimated $22.1 billion by 2030.

Q2. What is the growth forecast for traction motor market?

Answer: The global traction motor market is expected to grow with a CAGR of 8.3% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the traction motor market?

Answer: The major drivers for this market are increasing demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs) and ongoing technological advancements in traction motor efficiency & performance.

Q4. What are the major segments for traction motor market?

Answer: The future of the traction motor market looks promising with opportunities in the railway, electric vehicle, and industrial vehicle markets.

Q5. Who are the key traction motor market companies?

Answer: Some of the key traction motor companies are as follows:

• Toshiba International
• CRRC
• Hitachi
• Wabtec
• SKODA TRANSPORTATION
• Mitsubishi Electric
• Siemens
• American Traction Systems
• HYUNDAI ROTEM
• ABB

Q6. Which traction motor market segment will be the largest in future?

Answer: Lucintel forecasts that AC traction motor is expected to witness the highest growth over the forecast period.

Q7. In traction motor market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness the highest growth over the forecast period.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the traction motor market by type (ac traction motor, dc traction motor, and synchronous motor), application (railways, electric vehicles, industrial vehicles, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?