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Traction Motor Market 2021-2027 : Comprehensive Analysis, Top Key Players Analysis
Traction Motor Market
Like other pieces of machinery, traction motors are subjected to ensure the propulsion of heavy machinery including railways, locomotives, and industrial equipment. It is consists of an electric motor that transforms electrical energy into torque energy. Also, the motor is connected to the shaft which results in linear motion, therefore powering this machinery.
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Tractions motors are highly reliable, and therefore, are widely used over traditional steam and diesel engines. In addition, its simplified construction and improved performance increase its demand. Furthermore, the technological advancement and advent of superior semiconductor devices including gate bipolar transistor (IGBT) and thyristors, consistent AC induction motors, and electrification of locomotives and railroads, enhances the necessity of traction motors.
The increase in industrialization has positively impacted the market growth along with offering numerous prospects. Also, the rise in advanced technologies and growing urbanization has increased the demand for heavy locomotives and machinery. On the other hand, the key market players are adopting strategies to expand the market. The market is witnessing plentiful activities including new product launches, and acquisitions. Let’s get to some of the latest happenings in the market-
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New launches are thriving the traction motor market. Recently, a leading traction motor manufacturer, American Traction System, has launched a field-oriented control traction inverter HERMES 1,100 VDC. Furthermore, the innovative traction inverter poses certain advanced features such as discontinuous pulse width modulation (DPWM), physics models of the motor, breakdown torque operation, and automatic variable switching frequency. Moreover, the inverter aims to be ordered for advanced research programs functioning at higher battery voltages.
Apart from this, the market is unfurling opportunities with acquisitions. Lately, Wabtec Corp. a key player for traction motor manufacturing, and the locomotive provider has acquired RELCO Locomotives, an American company. With this acquisition, Wabtec aims to expand its freight services abilities in order to evolve and renovate the business. Furthermore, the president and CEO at Wabtec, Rafael Santana stated that this acquisition would offer incredible value for the employees, customers, shareholders of the company. Also, the portfolios created with the combination would enhance aftermarket service growth along with developing new and innovative solutions. Moreover, the acquisition would expand and strengthen the market capabilities and aid the company to serve better.
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Leading market players analyzed in the research include
American Traction System,
ABB,
Hyundai Rotem
Hitachi
Mitsubishi
CRRC
Skoda
Siemens
Wabtec
Toshiba.
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