Electric Traction Motor Market: Summary
The Global Electric Traction Motor Market is estimated to reach USD 30.9 Billion by 2025 at a CAGR of 18%, observes forencis research (FSR).
Traction means producing frictional force between two surfaces without slipping and this can be produced electrically or non-electrically. Electric traction motor is an electric motor which is used for driving a vehicle such as electric railways or electric vehicles. It is more efficient compared to the non-electric system and offers several benefits also such as quick start and stop, pollution-free, and easy to handle. Electric traction motor is considered as a specific class in industrial motors as they require a high rate of acceleration/deceleration, high torque low-speed hill-climbing, low-torque high-speed cruising, and a very wide range for operating speed.
Electric Traction Motor Market: Drivers & Challenges
- Rising Funding in Rail Sector
Rail sector is considered as the most energy-efficient mode of transport for shipping goods and passengers. Out of total rail carries 8% of passengers globally and 7% of world shipping goods, which is only 2%of total transport energy demand. This sector is widely electrified, as per International Energy Agency (IEA), three-quarters of passenger rail transport is electrified. As the rail sector is very energy-efficient funding in this sector is increasing exponentially, especially in the segment of high-speed rail and metro. All these funding are directed towards the electrified rails and metro which are manufactured using electric traction motor.
Thus, the rising funding in the rail sector may contribute to the growth of the electric traction motor market, during the forecasted period.
- Rising Adoption of Electric Vehicles
Electric vehicles are growing rapidly worldwide. According to International Energy Agency (IEA), in 2018, 5.1 million electric cars were operating globally, which is 2 million more than the previous year. Electric two-wheelers were 260 million in 2018 and electric buses were 0.46 million. Also, the number of electric vehicles in shipping is also increasing robustly. Such rapid adoption of electric vehicles in every sector can open new market channels for the traction motor manufacturers.
Thus, the rising adopting of electric vehicles may contribute to the overall growth of the electric traction motor market, during the forecasted period.
The designing of an electric traction motor is more difficult as compared to any other electric motor because the load characteristic of traction motor is fluctuating in nature. There are numerous challenges faced by the manufacturers while designing the traction motor. Limited space and volume are available for installing physical weight per axle in the envelope of the traction motor. Many constraints have to be taken care of while designing like temperature, weight, compactness or cost.
Thus, complexity in designing can be challenging for the growth of the electric traction motor market, during the forecast period.
Electric Traction Motor Market: Key Segments
- Component segment comprises of: Hardware and
- Type segment comprises of: DC and AC.
- Power rating segment comprises of: Below 500 kW, 500 kW-1000 kW, and Above 1000kW
- Application segment comprises of: Railway, Electric Vehicle, and
- Regional segmentation comprises of: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Electric Traction Motor Market: Report Scope
The report on the electric traction motor market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2025 (2020 estimated year, forecasted up to 2025)
Value (USD Million)
Component, Type, Power Rating, Application and Region
Asia-Pacific, Europe, Middle East and Africa, South Africa and North America
Key Companies Covered
- CRRC Corporation Limited (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Wabtec Corporation
- Siemens AG
- Parker-Hannifin Corp
- SKF AB
- ABB Ltd.
- Alstom SA
- Robert Bosch GmbH
- Nidec Corporation
- Toshiba Corp
- Other Key Companies
Electric Traction Motor Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Electric Traction Motor Market, by Component
- Pinion Gears
- Gasket Kits
- Inspection Covers
Electric Traction Motor Market, by Type
Electric Traction Motor Market, by Power Rating
- Below 500 kW
- 500-1000 kW
- Above 1000 kW
Electric Traction Motor Market, by Application
- Light Rail Vehicle
- Commuter Rail
- High-speed Train
- Electric Vehicle
- Battery Electric Vehicle
- Plug-in Hybrid
- Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
Electric Traction Motor Market, by Region
- South Korea
- Rest of Asia-Pacific
- North America
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the primary advancements affecting the global market and its growth?
- What will be the effects of the advancements in the market on the industry globally and on the market players in the near and far future?
- What are the emerging types of the global market?
- What are the emerging applications of the global market?
- What are the primary aspects that will impact market growth globally during the study period?
- Who are the leading global players functioning in the market?
- How are the leading players expanding in the existing global market conditions?
- Electric Traction Motor Market Providers
- Electric Traction Motor Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Electric Traction Motor Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE ELECTRIC TRACTION MOTOR MARKET STUDY
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
2 RESEARCH DESIGN & SCOPE
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.2.1 Rising Funding in Rail Sector
4.2.2 Rising Adoption of Electric Vehicles
4.3.1 Fluctuating Prices of Input Commodities
4.4.1. Designing Better Speed Estimator
4.5.1. Complexity in Designing
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 GLOBAL ELECTRIC TRACTION MOTOR MARKET BY COMPONENT, Market Size in USD Million (2018—2025)
6.2.2 Pinion Gears
6.2.3 Gasket Kits
6.2.4 Inspection Covers
7 GLOBAL ELECTRIC TRACTION MOTOR MARKET BY TYPE, Market Size in USD Million (2018—2025)
8 GLOBAL ELECTRIC TRACTION MOTOR MARKET BY POWER RATING, Market Size in USD Million (2018—2025)
8.2 Below 500 kW
8.3 500-1000 kW
8.4 Above 1000 kW
9 GLOBAL ELECTRIC TRACTION MOTOR MARKET BY APPLICATION, Market Size in USD Million (2018—2025)
9.2.1 Light Rail Vehicle
9.2.3 Commuter Rail
9.2.4 High-speed Train
9.3 Electric Vehicle
9.3.1 Battery Electric Vehicle
9.3.2 Plug-in Hybrid
9.3.3 Hybrid Electric Vehicle
9.3.4 Fuel Cell Electric Vehicle
10 GLOBAL ELECTRIC TRACTION MOTOR MARKET BY REGION, Market Size in USD Million (2018—2025)
10.1 North America
10.2.5 Rest of Europe
10.3.4 South Korea
10.3.5 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 Saudi Arabia
10.4.3 Rest of Middle East and Africa
10.5 South America
10.5.3 Rest of South America
11 COMPETITIVE LANDSCAPE
11.2 Market Ranking/Share Analysis of Key Companies
11.3 Company Benchmarking
12 COMPANY PROFILES
12.1 CRRC Corporation Limited
12.1.1 Company Overview
12.1.2 Financial Overview
12.1.3 Products/Solutions/Services Offered
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.2 Wabtec Corporation
12.3 Siemens AG
12.4 Parker-Hannifin Corp
12.5 SKF AB
12.6 ABB Ltd.
12.7 Alstom SA
12.8 Robert Bosch GmbH
12.9 Nidec Corporation
12.10 Toshiba Corp
12.11 Other Key Companies
13.1 Key Industry Expert Insights
13.2 Primary Discussion Guide
13.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY