Comprehensive Analysis of the Global Electric Traction Motor Market

rushikesh chavan
Sep 19, 2024
3 min read

The Global Electric Traction Motor Market Size is expected to reach USD 62.75 Billion by 2032, at a CAGR of 10.5% during the forecast period 2022 to 2032.

Introduction

The Global Electric Traction Motor Market is undergoing significant growth, driven by advancements in technology and increasing demand across various sectors. This report delves into a detailed historical analysis of the market, covering data from 2018 to 2021, and provides extensive forecasts from 2022 to 2032. It segments the market by region, country, and subsector, offering insights into pricing, sales volume, revenue, historical growth, gross margin, and future outlooks.

Market Overview

The Electric Traction Motor Market is projected to reach USD 62.75 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2022 to 2032. This growth is attributed to the increasing adoption of electric vehicles (EVs), the rise in infrastructure development, and technological advancements in motor systems.

Key Market Segments

By Type:
- AC Traction Motors
- DC Traction Motors
By Power Rating:
- Below 200 kW
- 200-400 kW
- Above 400 kW
By Region/Country:
- North America:
  - US
  - Canada
  - Mexico
- Europe:
  - Germany
  - UK
  - France
  - Italy
  - Spain
  - Russia
  - Rest of Europe
- Asia Pacific:
  - China
  - Japan
  - India
  - South Korea
  - Australia
  - Rest of Asia Pacific
- South America:
  - Brazil
  - Argentina
  - Rest of South America
- Middle East & Africa:
  - UAE
  - Saudi Arabia
  - Qatar
  - South Africa
  - Rest of Middle East & Africa

Leading Players

The electric traction motor market features several key players renowned for their innovation and market presence:

Schneider Electric SE
ABB, Ltd.
Siemens AG
General Electric Co.
Toshiba Corporation
Mitsubishi Electric Corporation
Alstom S.A.
Hitachi, Ltd.
Caterpillar Inc.
Magna International
The Curtiss-Wright Corporation
Prodrive Technologies
CG Power & Industrial Solutions Ltd.
Aisin
Delphi Automotive LLP
Voith GmbH
Bombardier Inc.
American Traction Systems
VEM Group
Kawasaki Heavy Industries Ltd.
Traktionssysteme Austria GmbH
Hyundai Rotem Company
Ansaldo Signalling

These companies are pivotal in advancing electric traction motor technology, enhancing performance, and supporting market growth.

Recent Developments

In April 2022, ABB India inaugurated an expanded facility for digital substation products in Vadodara, Gujarat. This new plant aims to meet the rising demand for digital substation solutions across India and over 50 other countries, highlighting the company’s commitment to supporting the electric traction motor market.

Why Invest in This Report?

Detailed Insights: Gain precise information about market size, growth trends, and key players.
SWOT Analysis: Understand competitive dynamics and market attractiveness.
Company Profiles: Explore operational strategies and financial performance of leading market players.
Regional Data: Compare market data across North America, South America, Asia Pacific, Europe, and the Middle East & Africa.
Future Projections: Access forecasts and trends shaping the electric traction motor market.
Growth Opportunities: Identify potential growth areas and competitive advantages.
Competitive Landscape: Dive into a thorough analysis of the industry and vendor insights.
Constraints Analysis: Understand factors that may limit market growth.

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