The rise in investments in the railway industry, favourable government regulations and subsidies, and the rising need for high-performance motors are all expected to fuel the electric traction motors market expansion.
Key Takeaways:
For vehicle propulsion, an electric traction motor is employed. On a machine, it is utilised to create rotational torque, which is then converted to straight-line motion. Using the driving gear unit and axle, the motor’s turning force is transmitted to the wheels.
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An electric traction motor can be used to power an electric car or locomotive. Elevators, trolleys, and conveyors as well as electric-powered railway cars employ them. They are capable of driving large industrial gear. Such motors provide a number of benefits, including minimal noise and less maintenance requirements. They are also highly reliable and have straightforward construction. The motor doesn’t emit smoke, making it a good choice for underground transportation services.
Report Scope of the Electric Traction Motor Market
Report Coverage | Details |
Market Size in 2023 | USD 15.47 Billion |
Market Size by 2032 | USD 63.07 Billion |
Growth Rate from 2023 to 2032 | CAGR of 16.9% |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Segments Covered | Vehicle Type, Type, Power Rating, Application, and Geography |
Regional Snapshots
The Asia Pacific will continue to dominate the market for electric traction systems for the foreseeable year. The global market for electric traction systems in this sector is expected to rise as transportation infrastructure develops, including railway connections, hybrid electric automobiles, high-speed bullet trains, and metro rail systems. Rising demand for narrow gauge, including, hybrid, diesel-electric, and electric locomotives, is expected to contribute considerably to market share over the projection year.
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Recent Developments
Key Market Players
Segments Covered in the Report
(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)
By Vehicle Type
By Type
By Power Rating
By Application
By Geography
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