Railway Traction Motor Market by Type, Region & key players: ABB Group, Saini Group, Sulzer Ltd., ALSTOM

Traction motors are used for propel heavy vehicles such as railways, locomotives, and industrial machineries among others. The global railway traction motor market is expected to reach $41.6 billion by 2025, owing to rise in the demand for railroad electrification, and increase in the railroad technologies by the government. Based on type, the market is segmented into DC traction motor, AC traction motor, and synchronous AC traction motor.

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Factors such as incorporation of traction motors in railway engines, low manufacturing and maintenance cost, and less fuel emission drive the demand for railway traction motors.

In 2016, Europe was the highest contributor, in terms of revenue, to the global railway traction motor market with 34.4% of share. In addition, AC traction motor segment contributed significant revenue to the market, with the U.S. accounting for 48.8% of the total market share. Furthermore, the synchronous AC traction motor segment is anticipated to witness the highest growth during the forecast period due to heavy investment in the advanced technology, minimized maintenance cost, and less fuel emissions.

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Key market players have adopted various strategies, such as a new product launch, business expansion, and strategic alliances to increase awareness about the railway traction motor across various countries.

Global Railway Traction Motor Market was valued at $30.3 billion in 2016, and is projected to reach at $41.6 billion by 2025, growing at a CAGR of 3.8% from 2017 to 2025. Railway traction motors are high-performance motors used for propelling locomotives, owing to their high durability and robust performance. The global railway traction motor market is expected to experience considerable growth during the forecast period, owing to the progress in railroad technologies and reforms in vehicular emissions related to restriction on transportation system in several nations.

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The key players profiled in the report are ABB Group, Saini Group, Sulzer Ltd., ALSTOM, Bombardier, BHEL, Hyundai Rotem Company, Mitsubishi Electric Corporation, Siemens, and VEM Group. The report presents the key strategies adopted by these players, and includes a detailed analysis of the current trends, upcoming opportunities, and restraints of the global railway traction motor market.

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