Dublin, Oct. 17, 2022 (GLOBE NEWSWIRE) -- The "Electric Traction Motor Market by Type (AC and DC), Power Rating (Below 200 kW, 200-400 kW, and Above 400 kW), Application (Railways, Electric Vehicles, Elevators, Conveyors, and Industrial Machinery) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global electric traction motor market is projected to reach USD 22.2 billion by 2027 from an estimated market size of USD 12.3 billion in 2022, at a CAGR of 12.6% during the forecast period.
The increase in demand for high-performance motors, favorable government policies and subsidies, and the rise in investments in the railway sector are expected to drive the electric traction motor market.
Increased demand for electric vehicles is the major growth opportunity for the electric traction motor market.
The AC segment, is expected to be the largest market for electric traction motor, by Type
The AC segment by type is estimated to be the largest market during forecast period from 2022 to 2027. As compared to DC electric traction motor, AC electric traction motor are more in demand because of several reasons like, they does not require any additional mechanical contacts such as brushes to work, are simple to construct, and comparatively lighter in weight for equivalent power.
These factors are expected to increase the demand for AC electric traction motors during the forecast period.
Europe: The second largest market for electric traction motor
Europe accounted for the second largest market of electric traction motor , followed North America in 2021. The region's demand for electric vehicles is increasing, therefore driving the demand for electric traction motors.
The German and the UK electric traction motor markets are expected to grow at a fast pace during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Electric Traction Motor Market
4.2 Electric Traction Motor Market, by Region
4.3 Asia-Pacific Electric Traction Motor Market, by Application and Country
4.4 Electric Traction Motor Market, by Type
4.5 Electric Traction Motor Market, by Application
4.6 Electric Traction Motor Market, by Power Rating
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Stringency of Emission Regulations to Push Oems to Manufacture and Sell Electric and Hybrid Vehicles
5.2.1.2 Increased Demand for High-Performance Motors
5.2.1.3 Favorable Government Policies and Subsidies
5.2.1.4 Increasing Investments in Railway Sector
5.2.2 Restraints
5.2.2.1 High Initial Deployment Cost of Electric Traction Motors in Rail Industry
5.2.2.2 Volatility of Raw Material Prices, Especially Copper
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Electric Vehicles
5.2.4 Challenges
5.2.4.1 High Cost of Electric Vehicles Compared to Ice Vehicles
5.2.4.2 Motor Failure due to Overheating
5.3 Impact of COVID-19
5.4 Trends/Disruptions Impacting Customer Businesses
5.4.1 Revenue Shift and New Revenue Pockets in Electric Traction Motor Market
5.5 Supply Chain Analysis
5.6 Market Map
5.7 Innovations and Patent Registration
6 Electric Traction Motor Market, by Type
6.1 Introduction
6.2 Ac
6.2.1 High Efficiency and Low Manufacturing Cost Expected to Fuel Demand for Ac Motors
6.3 Dc
6.3.1 Operational Benefits Such as Low Noise and Less Maintenance to Raise Demand for Dc Motors
7 Electric Traction Motor Market, by Power Rating
7.1 Introduction
7.2 Below 200 Kw
7.2.1 Demand from Electric Vehicles, Elevators, and Light Rail Transit Systems to Amplify Segment Demand
7.3 200-400 Kw
7.3.1 Demand from Metro Systems, High-Speed Trains, and Subway Trains to Boost Segment Growth
7.4 Above 400 Kw
7.4.1 Increasing Rate of Urbanization and Growing Population to Raise Demand for Above 400 Kw Motors
8 Electric Traction Motor Market, by Application
8.1 Introduction
8.2 Railways
8.2.1 Increased Reliance of Railway Industry on Electric Traction Motors for High Efficiency and Low Maintenance Cost to Drive Market
8.2.1.1 Locomotives
8.2.1.1.1 Diesel Locomotives
8.2.1.1.2 Electric Locomotives
8.2.1.1.3 Diesel-Electric Locomotives
8.2.1.2 Rapid Transit Vehicles
8.2.1.2.1 Diesel Multiple Units
8.2.1.2.2 Electric Multiple Units
8.2.1.2.3 Light Rail Vehicles
8.2.1.2.4 Metro and Subway Trains
8.2.1.3 Railroad Cars
8.2.1.3.1 Passenger Coaches
8.2.1.3.2 Freight Wagons
8.3 Electric Vehicles
8.3.1 Increasing Number of Electric Vehicles Worldwide to Lead to Higher Demand for Efficient Traction Motors
8.3.1.1 Hybrid Electric Vehicles (Hevs)
8.3.1.2 Battery Electric Vehicles (Bevs)
8.3.1.3 Plug-In Hybrid Electric Vehicles (Phevs)
8.4 Others
9 Electric Traction Motor Market, by Region
10 Competitive Landscape
10.1 Overview
10.2 Share Analysis of Key Players, 2021
10.3 Segmental Revenue Analysis of Top Market Players
10.4 Recent Developments
10.4.1 Deals
10.4.1.1 Electric Traction Motor Market: Deals, 2018-2022
10.4.2 Others
10.4.2.1 Electric Traction Motor Market: Others, 2018-2022
10.5 Competitive Leadership Mapping
10.5.1 Stars
10.5.2 Emerging Leaders
10.5.3 Pervasive Players
10.5.4 Participants
11 Company Profiles
11.1 Key Companies
11.1.1 Toshiba Corporation
11.1.2 General Electric
11.1.3 Siemens
11.1.4 Ametek, Inc.
11.1.5 Abb
11.1.6 Eaton
11.1.7 Voith GmbH & Co. KGaA
11.1.8 Kawasaki Heavy Industries
11.1.9 Traktionssysteme Austria GmbH
11.1.10 Mitsubishi Electric Corporation
11.1.11 Cg Power and Industrial Solutions Limited
11.1.12 Crrc Corporation Limited
11.1.13 Robert Bosch GmbH
11.1.14 Nidec Corporation
11.1.15 Weg
11.2 Other Players
11.2.1 American Traction Systems
11.2.2 Hitachi Industrial Products, Ltd.
11.2.3 Hyundai Rotem
11.2.4 Skoda Transportation A.S.
11.2.5 Vem Group
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/eqcik3
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