How Electric Traction Motor Market is growing with +17% CAGR; by Type, Applications, Market Dynamics, Manufacturer & SWOT Analysis Along with illustrations & Forecast 2023

Electric Traction Motor Market, a new research report that evaluates its current value, size, performance and statistics. electric traction motor is in the railway vehicles. The steam, diesel, and electric traction systems come under the traction systems. rising demand from railway sector and the increased demand for energy efficient motors. Moreover, the rising demand of electric vehicles offers promising business opportunity in the electric traction motor market.

Electric traction motor market is expected to grow from an estimated USD +11 Billion in 2018 to USD +27 Billion by 2023, at a CAGR of +17% during the forecast period.

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The report offers a multi-step view of the Global Electric Traction Motor Market. The first approach focuses through an impression of the market. This passage includes several accomplishments, definitions, the chain assembly of the industry in one piece, and the various uses for the global market. electric traction motors are widely used in the electric vehicles and railway application to provide propulsion and higher torque. Advantages of AC motor, such as less maintenance compared to DC motor, better speed acceleration, and higher efficiency are the key drivers for the growth of the AC electric traction motor market.

Some of the leading vendors: ABB, Ltd. (Switzerland), Alstom S.A.,  The KON?AR Group, Siemens AG, Delphi Automotive LLP, Voith GmbH , Mitsubishi Electric Corporation, Schneider Electric SE, The Curtiss-Wright Corporation, Prodrive Technologies, Toshiba Corporation, General Electric, Co.,

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

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