Electric Traction Motor Market Projected to Reach $36.6 billion by 2025 | Leading key players are ABB, CG Power and Industrial Solutions, CRRC, GE, Siemens

According to the new research report "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 2025" The electric traction motor market is expected to grow from an estimated market size of USD 14.2 billion in 2020 to USD 36.6 billion by 2025, at a CAGR of 20.9% during the forecast period.

The market is set to witness growth, due to the increase in demand for high-performance motors, favorable government policies and subsidies, and the rise in investments in the railway sector.

Browse 100 market data Tables and 42 Figures spread through 160 Pages and in-depth TOC on "Electric Traction Motor Market - Global Forecast to 2025"

https://www.marketsandmarkets.com/Market-Reports/electric-traction-motor-market-248269129.html

The AC segment is expected to hold the largest share of the electric traction motor market, by type, during the forecast period

The AC electric traction motor segment is expected to be the largest market for electric traction motors during the forecast period. The market is witnessing the replacement of DC electric traction motors with AC electric traction motors as a result of advantages such as higher reliability and efficiency and are expected to drive the AC electric traction motor segment of the electric traction motor market.

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Below 200 kW is expected to be the largest segment in the electric traction motor market, by power rating, in 2020

The below 200 kW segment dominated the electric traction motor market during the forecast period. The large share of this segment can mainly be attributed to the extensive use of below 200 kW power rated motors in electric vehicles and light rail transit vehicles, which is expected to grow at a faster pace in the coming years. The widespread installation of these motors in plug-in hybrid cars, hybrid cars, and battery-electric cars, which are all experiencing high sales growth in China, Norway, the UK, France, and Japan, is further driving the segment.

This research report categorizes the electric traction motor market by type, power rating, application, and region.
By Type

AC
DC

By Power Rating

Below 200 kW
200-400 kW
Above 400 kW

By Application

Railways
Electric Vehicle
Others

By Region

North America
Europe
Asia Pacific
Middle East & Africa
South America

Asia Pacific: Expected to be the leading market for electric traction motors during the forecast period

Asia Pacific is expected to dominate the global electric traction motor market from 2020 to 2025. Rising investments in electric vehicles and the growing metro rail network in the region are likely to drive the demand for electric traction motors in Asia Pacific.

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To enable an in-depth understanding of the competitive landscape, the report includes some of the top players in the electric traction motor market. ABB (Switzerland), CG Power and Industrial Solutions (India), CRRC (China), GE (US), and Siemens (Germany) are some of the leading players in the electric traction motor market. They are trying to understand the markets in developing economies and are adopting various strategies to increase their market share. Other dominant players in this market include Toshiba, VEM Group, Nidec, Robert Bosch, Traktionssysteme, AMETEK, Škoda, Voith, American Traction Systems, Eaton, Hyundai Rotem, WEG, Mitsubishi, Kawasaki, Lynch, Johnson Electric, Wabtec, Prodrive, Hitachi, Magna.

Key Questions Addressed by the Report:

What are the industry trends that will be seen over the next 5 years?
Which of the electric traction motor market material will lead by 2025?
Which of the application segment will have the maximum opportunity to grow during the forecast period?
Which will be the leading region with the highest market share by 2025?
How are companies implementing organic and strategies to gain increased market share?

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This release was published on openPR.