Traction Motors Market is expected to witness Incredible Growth during 2021-2031 |Key Players Names: Hyundai Rotem Ccompany, CRRC, Mitsubishi Electric Corporation, Siemens

Global Traction Motors Market report from Global Insight Services is the single authoritative source of intelligence on Traction Motors Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

A traction motor is an electric motor that is used to provide propulsion for a vehicle, usually by turning the wheels. Traction motors are typically used in electric and hybrid vehicles, where they provide power to the wheels. Traction motors typically have a high power-to-weight ratio, and can be very efficient. They are also typically brushless, meaning that they do not require regular maintenance.

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Key Trends

The key trends in Traction Motors technology are:

1. Increasing power density

2. Increasing efficiency

3. Decreasing cost

Key Drivers

The key drivers of the Traction Motors market are the ever-increasing demand for electric vehicles, the need for more efficient and powerful motors, and the advancement in technology. The demand for electric vehicles is increasing day by day as people are becoming more aware of the benefits of these vehicles. Electric vehicles are more efficient and cause less pollution than traditional petrol or diesel vehicles. The need for more efficient and powerful motors is also driving the growth of the traction motors market. As electric vehicles become more popular, the need for more powerful motors that can provide higher speeds and longer ranges is also increasing.

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Market Segments

The traction motors market is segmented by type, application, and region. By type. the market is classified into AC and DC. Based on application, it is bifurcated into railways, electric vehicles, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.

Key Players

The global traction motors market includes players such as ABB, American Traction Systems, Hitachi Ltd, Hyundai Rotem Ccompany, CRRC, Mitsubishi Electric Corporation, Siemens, Škoda Transportation, Toshiba International Corporation, Wabtec Corporation, and others.

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