PUBLISHER: Polaris Market Research | PRODUCT CODE: 1625453
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1625453
The electric traction motor market size is expected to reach USD 48.50 billion by 2034, according to a new study by Polaris Market Research. The report " Electric Traction Motor Market Size, Share, Trends, Industry Analysis Report: By Product Type (DC Traction Motor and AC Traction Motor), Application, Power Ratings, and Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Electric traction motors are motors that provide power to vehicles and other machines to generate torque to drive wheels and axles. The high power density of electric traction motors increases their utilization across various sectors, such as automotive, significantly boosting market growth. Manufacturers have been concentrating on enhancing the efficiency of these motors over time to achieve greater energy conservation in locomotives. In addition, the improved efficiency has notably impacted maintenance costs, as the latest fully enclosed traction motors necessitate less maintenance compared to traditional models. Consequently, the demand for high-efficiency electric traction motors is rapidly growing due to their increasing availability and utilization.
The growing emphasis on environmental protection has led to an increase in demand for electric vehicles, which is a key factor driving market growth. Moreover, the government is increasingly developing initiatives to promote sustainable and eco-friendly alternatives. Hence, the shift from fuel vehicles to electric vehicles is increasing the utilization of traction motors to enhance battery power and driving experience.
Further, technological advancements are leading to the development of the Internet of Things (IoT), which is driving the electric traction motor market growth. The integration of AI and IoT enhances the functioning of vehicles. Additionally, the development of machine learning in traction motors helps reduce damage to machines, vehicles, and others. For example, conditioning monitoring algorithms are used in traction motors to monitor temperature, vibrations, and power consumption. Hence, technological advancements are fostering innovations and enhancing the operational activities that are significantly driving market growth.
By product type analysis, the DC motor segment is expected to dominate the market due to advanced features, wide availability, and low maintenance expenditures.
Based on power ratings analysis, the 200-400 kW power rating segment is expected to dominate the market due to its applications in various sectors such as railways and others.
The electric traction motor market in Asia Pacific is experiencing significant growth due to the rapidly growing automotive sector. Electric traction motors are widely used in the manufacturing of electric vehicles across the region.
The key market players are ABB Ltd.; CG Power and Industrial solutions Ltd.; Hitachi Ltd.; General Electric Company; Kirloskar Electric Co. Ltd.; Bosch; Johnson Electric; Siemens AG; NIDEC Corp.; Traktionssysteme Austria; Vem Group; and Delta Engineering Works.
Polaris Market Research has segmented the electric traction motor market report based on product type, application, power ratings, and region:
Table 1 Global Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 2 Global Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 3 Global Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 4 North America: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 5 North America: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 6 North America: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 7 US: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 8 US: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 9 US: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 10 Canada: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 11 Canada: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 12 Canada: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 13 Europe: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 14 Europe: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 15 Europe: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 16 UK: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 17 UK: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 18 UK: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 19 France: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 20 France: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 21 France: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 22 Germany: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 23 Germany: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 24 Germany: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 25 Italy: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 26 Italy: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 27 Italy: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 28 Spain: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 29 Spain: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 30 Spain: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 31 Netherlands: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 32 Netherlands: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 33 Netherlands: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 34 Russia: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 35 Russia: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 36 Russia: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 37 Rest of Europe: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 38 Rest of Europe: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 39 Rest of Europe: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 40 Asia Pacific: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 41 Asia Pacific: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 42 Asia Pacific: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 43 China: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 44 China: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 45 China: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 46 India: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 47 India: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 48 India: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 49 Malaysia: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 50 Malaysia: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 51 Malaysia: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 52 Japan: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 53 Japan: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 54 Japan: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 55 Indonesia: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 56 Indonesia: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 57 Indonesia: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 58 South Korea: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 59 South Korea: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 60 South Korea: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 61 Australia: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 62 Australia: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 63 Australia: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 64 Rest of Asia Pacific: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 65 Rest of Asia Pacific: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 66 Rest of Asia Pacific: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 67 Middle East & Africa: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 68 Middle East & Africa: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 69 Middle East & Africa: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 70 Saudi Arabia: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 71 Saudi Arabia: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 72 Saudi Arabia: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 73 UAE: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 74 UAE: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 75 UAE: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 76 Israel: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 77 Israel: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 78 Israel: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 79 South Africa: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 80 South Africa: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 81 South Africa: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 82 Rest of Middle East & Africa: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 83 Rest of Middle East & Africa: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 84 Rest of Middle East & Africa: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 85 Latin America: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 86 Latin America: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 87 Latin America: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 88 Mexico: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 89 Mexico: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 90 Mexico: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 91 Brazil: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 92 Brazil: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 93 Brazil: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 94 Argentina: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 95 Argentina: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 96 Argentina: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
Table 97 Rest of Latin America: Electric Traction Motor Market, by Product Type, 2020-2034 (USD Billion)
Table 98 Rest of Latin America: Electric Traction Motor Market, by Application, 2020-2034 (USD Billion)
Table 99 Rest of Latin America: Electric Traction Motor Market, by Power Ratings, 2020-2034 (USD Billion)
List of Figures:
Figure 1. Global Electric Traction Motor Market, 2020-2034 (USD Billion)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top-Down & Bottom-Up Price
Figure 4. Market by Geography
Figure 5. Porter's Five Forces
Figure 6. Market by Product Type
Figure 7. Global Electric Traction Motor Market, by Product Type, 2024 & 2034 (USD Billion)
Figure 8. Market by Application
Figure 9. Global Electric Traction Motor Market, by Application, 2024 & 2034 (USD Billion)
Figure 10. Market by Power Ratings
Figure 11. Global Electric Traction Motor Market, by Power Ratings, 2024 & 2034 (USD Billion)