Home Industry Reports Custom Research Blogs About Us Contact us

Electric Traction Motor Market Size & Share, By Vehicle Type (Plug-in Hybrid Electric Vehicles, Mild Hybrid Vehicles, Full Hybrid Vehicles), Type (AC, DC), Power Rating (Below 200 KW, 200 KW To 400 KW, Above 400 K W), Application (Railways, Electric Vehicles, Elevators, Conveyors, Industrial Machinery, Others), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Report ID: FBI 6819

|

Published Date: Sep-2024

|

Format : PDF, Excel

التوقعات السوقية:

Electric Traction Motor Market was over USD 15.74 billion in 2023 and is estimated to surpass USD 65 billion by end of the year 2032, observing around 17.1% CAGR between 2024 and 2032.

Base Year Value (2023)

USD 15.74 billion

19-23 x.x %
24-32 x.x %

CAGR (2024-2032)

17.1%

19-23 x.x %
24-32 x.x %

Forecast Year Value (2032)

USD 65 billion

19-23 x.x %
24-32 x.x %
Electric Traction Motor Market

Historical Data Period

2019-2023

Electric Traction Motor Market

Largest Region

Asia Pacific

Electric Traction Motor Market

Forecast Period

2024-2032

Get more details on this report -

سوق الديناميكية:

Growth Drivers & Opportunity:

One of the primary growth drivers for the electric traction motor market is the increasing demand for electric vehicles (EVs). As governments and consumers shift towards sustainable transportation solutions, the adoption of EVs is accelerating. This shift is supported by various initiatives, including stricter emission regulations and incentives for electric vehicle purchases. The expanding EV market necessitates advanced traction motors that enhance performance and efficiency, driving significant growth in the electric traction motor segment.

Another crucial growth driver is the rising focus on renewable energy sources and electrification of public transportation. As cities and governments strive to reduce carbon footprints, the transition to electric-driven public transport systems such as trams and electric buses is gaining momentum. This shift not only furthers environmental goals but also enhances the demand for efficient electric traction motors, highlighting their crucial role in facilitating cleaner urban transport.

The technological advancements in electric traction motors themselves also serve as a notable growth driver. Innovations such as improvements in materials, design, and manufacturing processes have led to the development of lighter, more efficient, and robust traction motors. These advancements increase the overall performance and longevity of electric traction motors, making them more appealing in various applications such as automotive, railways, and industrial sectors, thereby fueling market growth.

Report Scope

Report CoverageDetails
Segments CoveredElectric Traction Motor Vehicle Type, Type, Power Rating, Application
Regions Covered• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledSchneiderElectricSE, TheCurtiss-WrightCorporation, ProdriveTechnologies, ToshibaCorporation, GeneralElectricCo., CGPowerandIndustrialSolutionsLtd., Aisin, ABB,., AlstomS.A., SiemensAG, DelphiAutomotiveLLP, VoithGmbH, MitsubishiElectricCorporation, BombardierInc., AmericanTractionSystems, VEMGroup, CaterpillarInc., TTMRail-TranstechMelbournePtyLtd., KawasakiHeavyIndustriesLtd., TraktionssystemeAustriaGmbH

Unlock insights tailored to your business with our bespoke market research solutions - Click to get your customized report now!

Industry Restraints:

Despite the promising prospects, the electric traction motor market faces restraints such as high initial costs associated with the production and installation of electric traction motors. While the long-term benefits of electric motors are significant, the upfront investment can be prohibitive for many manufacturers and consumers. This financial barrier may slow down the adoption of electric traction systems, particularly in regions with limited funding and lower acceptance of electric alternatives.

Another restraint impacting the market is the limited availability of charging infrastructure. The efficiency and convenience of electric traction motors heavily rely on the presence of a sufficient charging network. Inadequate charging facilities can hinder the growth of electric vehicles and associated traction systems, dissuading potential users from making the switch to electric traction options. This lack of infrastructure could pose a challenge, affecting the overall market demand for electric traction motors in the near future.

التوقعات الإقليمية:

Electric Traction Motor Market

Largest Region

Asia Pacific

48% Market Share in 2023

Get more details on this report -

North America

The Electric Traction Motor Market in North America is primarily driven by the increasing adoption of electric and hybrid vehicles, supported by government initiatives aimed at reducing carbon emissions. The U.S. is the largest market, with significant investments in electric vehicle infrastructure and advancements in battery technology. Major players in the region include established automotive manufacturers and technology start-ups focusing on innovative traction motor solutions. Canada is also witnessing growth in the electric traction motor segment, primarily due to supportive policies and a rising demand for sustainable transportation options.

Asia Pacific

In the Asia Pacific region, the Electric Traction Motor Market is predominantly led by China, which has emerged as a global leader in electric vehicle production and consumption. The country's strong governmental support for electric mobility aligns with its ambitious emissions reduction targets, driving substantial investments in electric traction motors. Japan and South Korea are also significant contributors, with advanced automotive technologies and a commitment to innovation. These countries are focusing on R&D and partnerships to enhance motor efficiency and performance, thus boosting market growth in the region.

Europe

The Electric Traction Motor Market in Europe is characterized by stringent environmental regulations and a robust push toward electrification of transportation. The United Kingdom, Germany, and France are at the forefront of adopting electric vehicles, with substantial investments in charging infrastructure and research initiatives. Germany stands out as a key player with major automotive manufacturers integrating electric traction motors into their product lines. The UK and France are also fostering innovation through policy incentives, leading to a significant increase in electric vehicle registrations and consequently driving the demand for electric traction motors in the region.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
Electric Traction Motor Market
Electric Traction Motor Market

تحليل التجزئة:

""

In terms of segmentation, the global Electric Traction Motor market is analyzed on the basis of Electric Traction Motor Vehicle Type, Type, Power Rating, Application.

Electric Traction Motor Market

By Vehicle Type

The electric traction motor market is significantly influenced by the vehicle type segment, which includes Plug-in Hybrid Electric Vehicles, Mild Hybrid Vehicles, and Full Hybrid Vehicles. Plug-in Hybrid Electric Vehicles (PHEVs) stand at the forefront due to their flexibility in utilizing both electric and internal combustion engine power, appealing to consumers aiming for efficiency and reduced emissions. Mild Hybrid Vehicles, while gaining traction, offer less electrification compared to PHEVs, but their cost-effectiveness attracts budget-conscious consumers. Full Hybrid Vehicles provide a balanced approach, with enhanced power from electric motors while functioning seamlessly with traditional fuel engines, making them popular among eco-friendly consumers. The increasing adoption of electrification in the automotive sector is expected to bolster all these vehicle types, with PHEVs likely dominating in sales volume over the forecast period.

By Type

The type segment of the electric traction motor market is bifurcated into AC and DC motors. AC motors are preferred in multiple applications due to their high efficiency, durability, low maintenance, and ability to operate at a wide range of speeds, making them suitable for electric traction in both vehicles and industrial applications. On the other hand, DC motors are favored for their simplicity and high starting torque, ideal for specific applications in electric vehicles and railways. The preference for AC motors is growing, primarily due to advancements in inverter technologies and the increasing need for energy-efficient solutions. Overall, the trend indicates a steady shift towards AC motors, although DC motors will continue to find niche applications in the market.

By Power Rating

In terms of power rating, the electric traction motor market can be categorized into below 200 KW, 200 KW to 400 KW, and above 400 KW. Motors with a power rating below 200 KW capture a significant share due to their extensive use in smaller electric vehicles and applications like elevators and conveyors, which require lower power output. The 200 KW to 400 KW segment caters to medium to large electric vehicles, industrial machinery, and rail systems that demand higher performance. Meanwhile, the above 400 KW category is primarily focused on heavy-duty applications, including high-speed trains and heavy industrial machinery, where high power output is essential. The increasing demand for high-performance electric vehicles is likely to enhance the market for motors above 400 KW in the coming years.

By Application

The application segment of the electric traction motor market encompasses various sectors, including Railways, Electric Vehicles, Elevators, Conveyors, Industrial Machinery, and Others. The railway application holds a substantial share, driven by the electrification of rail networks and the need for efficient energy consumption. Electric vehicles are rapidly gaining momentum, reflecting the global shift towards sustainable transportation; as a result, these applications are expected to demonstrate significant growth in the upcoming years. Elevators and conveyors also contribute to the market, particularly in commercial and industrial environments, where energy-efficient systems are prioritized. Industrial machinery encompasses a wide range of applications where electric traction motors are integral, highlighting their versatility. The ‘Others’ category includes niche markets that continue to expand as technological advancements offer new opportunities. Overall, as industries strive for increased efficiency and sustainability, the electric traction motor market across all applications will benefit from these transformative trends.

Get more details on this report -

مشهد تنافسي:

The Electric Traction Motor Market is experiencing significant growth due to increasing demand for electric and hybrid vehicles, along with the expansion of rail networks and initiatives for sustainable transportation. This competitive landscape is characterized by a mix of well-established automotive manufacturers and specialized motor manufacturers, each focusing on technological advancements, efficiency improvements, and integration with renewable energy sources. Key players are investing in R&D to enhance power density, reduce weight, and improve thermal management in electric traction motors. Collaborations and partnerships for developing next-generation motors are also prevalent as companies aim to gain a competitive edge in an evolving market driven by stringent emissions regulations and a push for greener alternatives.

Top Market Players

1. Siemens AG

2. ABB Ltd.

3. Mitsubishi Electric Corporation

4. General Electric Company

5. Schaeffler AG

6. Toshiba Corporation

7. Nidec Corporation

8. Hitachi Ltd.

9. Parker Hannifin Corporation

10. Yaskawa Electric Corporation

Our Clients

Why Choose Us

Specialized Expertise: Our team comprises industry experts with a deep understanding of your market segment. We bring specialized knowledge and experience that ensures our research and consulting services are tailored to your unique needs.

Customized Solutions: We understand that every client is different. That's why we offer customized research and consulting solutions designed specifically to address your challenges and capitalize on opportunities within your industry.

Proven Results: With a track record of successful projects and satisfied clients, we have demonstrated our ability to deliver tangible results. Our case studies and testimonials speak to our effectiveness in helping clients achieve their goals.

Cutting-Edge Methodologies: We leverage the latest methodologies and technologies to gather insights and drive informed decision-making. Our innovative approach ensures that you stay ahead of the curve and gain a competitive edge in your market.

Client-Centric Approach: Your satisfaction is our top priority. We prioritize open communication, responsiveness, and transparency to ensure that we not only meet but exceed your expectations at every stage of the engagement.

Continuous Innovation: We are committed to continuous improvement and staying at the forefront of our industry. Through ongoing learning, professional development, and investment in new technologies, we ensure that our services are always evolving to meet your evolving needs.

Value for Money: Our competitive pricing and flexible engagement models ensure that you get maximum value for your investment. We are committed to delivering high-quality results that help you achieve a strong return on your investment.

Select Licence Type

Single User

US$ 4250

Multi User

US$ 5050

Corporate User

US$ 6150

Electric Traction Motor Market Size & Share, By Ve...

RD Code : 24