Electric Traction Motor Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026
Sarasota, FL -- (SBWIRE) -- 07/18/2018 -- Global Electric Traction Motor Market: Overview
The most common application of the electric traction motor is in the railway vehicles. The steam, diesel, and electric traction systems come under the traction systems. Major factors influencing the growing demand for electric traction motors are technological advancements and urbanization.
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Global Electric Traction Motor Market: Growth Factors
The major factors driving the electric traction motor market are the growing investments in the rolling stock, growing requirement to reduce the carbon emissions in the environment, rising demand for the proficient electric traction motors in the electric automobiles, and the increased investments in the railway sectors in various regions. There is a growing requirement for modernizing the transportation and the demand for the electric locomotives are increasing coupled with rapid urbanizations thus increasing the demand for the electric traction motor market. The demand for the electric traction systems has also increased due to augment in the induction of the air-conditioned coaches for complementing the amplified uptake of power. Considerable changes in the railway and metro connections also propel the growth of the electric traction motor market.
Global Electric Traction Motor Market: Segmentation
The global electric traction motor market is segmented on the basis of its type, power rating, and application. On the basis of the type, the market is bifurcated into AC and DC. In terms of power rating, the electric traction motor market is divided into >400 kW, 200 kW to 400 kW, and <200 kW. Based on the application, the market is segregated into electric vehicles, railway, and others which include industrial machinery, elevators, and conveyors.
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Global Electric Traction Motor Market: Regional Analysis
Region wise, it is anticipated that the Asia Pacific will lead the electric traction motor market which may be followed by Europe and North America. In the Asia Pacific, China and Japan anticipate holding the major shares in the market which is followed by India and Australia owing to the increased investments in the railway sector. Projects such as metro rail system, improved railway connections, and bullet trains are strong factors contributing to the growth of the electric traction motor market.
Europe also anticipates holding a significant position in the global electric traction motor market owing to the increased spending on the aging railway infrastructure and the shifting focus on the electric vehicles. As a shift has been seen from the diesel-based to the diesel-electric based or just electric automobiles the market is experiencing a good growth rate. Increasing support from the government bodies toward improving the transportation system also benefits the market growth.
Global Electric Traction Motor Market: Competitive Players
Some of the most important market players involved in the electric traction motor market includes Alstom S.A., Delphi Automotive LLP, Mitsubishi Electric Corporation, The Curtiss-Wright Corporation, Toshiba Corporation, CG Power and Industrial Solutions Ltd., American Traction Systems, Caterpillar Inc., Kawasaki Heavy Industries Ltd., Hyundai Rotem Company, Ansaldo Signalling, ABB, Ltd., Siemens AG, Voith GmbH, Schneider Electric SE, Prodrive Technologies, General Electric, Co., Bombardier Inc., VEM Group, TTM Rail - Transtech Melbourne Pty Ltd., Traktionssysteme Austria GmbH, and Hitachi, Ltd., among others.
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Global Electric Traction Motor Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa
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