Global Traction Motor Market Growth Growth Overview, Size, Future Trends, Share, Opportunities and Forecast to 2030

According to Inkwood Research, the Global Traction Motor Market is projected to record a CAGR of 14.55% in terms of revenue during the forecasting years of 2021-2028.
"Browse 41 Market Data Tables and 42 Figures spread over 130 Pages, along with an in-depth TOC on the Global Traction Motor Market Forecast 2021-2028."

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A traction motor is characterized by an electric motor, which transforms electrical energy into torque energy. It is attached to a shaft, thereby leading to linear motion. These motors are typically used to reinforce heavy vehicles, such as, industrial machinery, locomotives, and railways, given the heavyweight of the automotive.

Development in the Railway Industry fuels Market Growth
When compared to roadways, railways are more economical and the preferred choice for mass transportation of products and goods for long distances. The performance of railway engines as well as motors has augmented over recent years, in terms of the locomotive's safety and speed, primarily due to technological advancements.
Additionally, diverse advantages of traction motors, such as, power efficiency, compact design, durability, and reduced maintenance expenses, facilitate their adoption into the railway industry. As a result, traction motors are a substantial component in railway locomotives.
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200-400 kW to be the Fastest-Growing Power Rating
Traction motors with a power rating between 200-400 kW are specially designed for heavy-duty to light-duty vehicles to execute operations efficiently. Such motors are better, in terms of operation, and consume lesser energy without impacting the vehicle's propulsion and processes. 200-400 kW traction motors' wide range of applications includes golf cars and ocean liners, with the latter requiring more robust motors to continue their operations. Moreover, they also observe vast applications across medium to heavy locomotives and electric trucks, owing to the need for a stronger propulsion system. Hence, with the advancements in railway and vehicular industries, globally, the demand for 200-400 kW motors observes an increase, as well.

Asia Pacific to Lead the Global Market by 2028
The rapidly developing industrial sector, incorporated with the increased demand from businesses and the surging population base, is anticipated to drive the market in the Asia Pacific. Moreover, emerging economies like Vietnam, Thailand, Indonesia, and India, are projected to depict lucrative and promising trends, during the forecast period. The presence of well-established firms, such as, Hyundai, Toshiba, and Hitachi, and their diversified product ranges, further help propel the region's market growth.
On the other hand, key market players have significantly intensified the industrial rivalry, within the global traction motor market. Besides, they also leverage the opportunity, in order to augment their geographical presence by citing emerging economies as major business arenas. Leading companies operating in the global market include, Mitsubishi Electric, Ametek, ABB, Siemens, Eaton, etc.

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