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Electric Traction Motor Market Latest Trends, Industry Size And Future Prospects 2031 | ABB Ltd, Siemens AG, General Electric Company, CG Power And Industrial Solutions Ltd, CRRC Corporation Limited.
Electric Traction Motor Global Market
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The global electric traction motor market report by the business research company identifies rise in demand for electric vehicles to be a major growth driver for the electric traction motor market. While the economic effect of COVID-19 has dampened demand for petrol and diesel cars, demand for EV and hybrid vehicles has increased. Climate warming and aspirations to achieve net-zero emissions are driving the global shift to emissions-free motoring. These EV vehicle shifts help the economy by reducing fuel costs and changing consumption from petroleum products to more locally produced power vehicles. The development of EV charging stations, hydrogen fuelling stations, and government intervention towards the adoption and implementation encourage the use of electric vehicles. These factors increased the demand for electric traction motor, offering clean and easy handling, speed control, and high-power propulsion to the vehicle for a safe and reliable drive.
The global electric traction motor market is expected to grow from $11.53 billion in 2021 to $13.81 billion in 2022 at a compound annual growth rate (CAGR) of 19.74%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The electric traction motor market is expected to grow to $30.59 billion in 2026 at a compound annual growth rate (CAGR) of 21.99%.
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Asia Pacific was the largest region in the electric traction market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the electric traction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the electric traction motor market are ABB Ltd, Siemens AG, General Electric Company, CG Power and Industrial Solutions Ltd, CRRC Corporation Limited, Alstom SA, Traktionssysteme Austria (TSA) GmbH, Skoda Transportation AS, Robert Bosch GmbH, Kirloskar Electric Company Ltd, Voith GmbH, Mitsubishi Electric Corporation, Bombardier Inc, American Traction Systems, VEM Group, Prodrive Technologies, Toshiba Corporation, Aisin and Delphi Automotive LLP.
The global electric traction motor market is segmented -
1) By Type: AC, DC.
2) By Power Rating: Less Than 200 kW, Between 200 kW To 400 kW, More Than 400 kW.
3) By Application: Railway, Electric Vehicle, Elevators, Conveyors, Industrial Machinery.
4) By Industry Vertical: Chemical And Petrochemical, Oil And Gas, Energy And Power, Automotive, Food And Beverages, Healthcare, Other Industry Verticals.
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The Electric Traction Motor Market Report Contents Include
1. Executive Summary
2. Electric Traction Motor Market Characteristics
3. Electric Traction Motor Market Trends And Strategies
4. Electric Traction Motor Market - Macro Economic Scenario
5. Electric Traction Motor Market Size And Growth
....
26. Africa Electric Traction Motor Market
27. Electric Traction Motor Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electric Traction Motor Market
29. Electric Traction Motor Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the Electric Traction Motor market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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