Press release
Promising Future Predicted for Electric Traction Motor Market: CAGR of 18.8% for 2024-2029 Forecast, Opportunities, and Challenges Explored
Promising Future Predicted for Electric Traction Motor Market
What Is The Projected Market Size Of The Global Electric Traction Motor Market And Its Growth Rate?
The global electric traction motor market continues to demonstrate significant growth and is projected to expand in the coming years due to several influencing factors:
• The market size stood at $19.79 billion in 2024 and it expected to grow to $23.65 billion in 2025 at a CAGR of 19.5%.
• This rapid growth during the historical period can be attributed to increased electrification of transportation, widespread adoption of electric vehicles, stringent government regulations in the automotive industry, and investment in EVs.
• The market size is projected to reach $47.03 billion in 2029, growing at a CAGR of 18.8%.
• Market growth in the forecast period is anticipated due to R&D initiatives in motor technology, environmental sustainability goals, the expansion of EV charging infrastructure, increased commercial and industrial applications, and the diversification of electric mobility solutions.
What Is Driving The Growth In The Electric Traction Motor Market?
The growth of the electric traction motor market is primarily driven by a surge in demand for electric vehicles (EVs). Despite the economic impact of COVID-19, demand for EVs and hybrid vehicles has seen an increase. Aspirations to achieve net-zero emissions are steering the global shift to emission-free motoring. The development of EV charging stations and government interventions are further increasing the adoption of electric vehicles. Rising demand for electric traction motors with clean and easy handling, speed control, and high power propulsion ensures a safe and reliable drive, thus fueling market growth. The U.S. Energy Information Administration reported 16.3% of total new light-duty vehicle sales in the United States in 2023 were hyrbid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles, up from 12.9% in 2022.
[Request A Free Sample Copy](https://www.thebusinessresearchcompany.com/sample.aspx?id=7426&type=smp)
Who Are the Key Players Driving Electric Traction Motor Market Growth?
Several major companies are driving the growth and development of the electric traction motor market including:
• ABB Ltd.
• Siemens AG
• General Electric Company
• CG Power and Industrial Solutions Ltd
• CRRC Corporation Limited
• Kirloskar Electric Company Ltd.
• Alstom SA
• Traktionssysteme Austria GmbH
• Skoda Transportation AS
• Robert Bosch GmbH
• Mitsubishi Electric Corporation
• Toshiba Corporation
• Nidec Corporation
• Johnson Electric Holdings Limited, Ametek Inc
• And many more.
What Are The Key Trends In The Electric Traction Motor Market?
The key trends shaping the electric traction motor market include:
• Technological advancements in motor design
• The progression of battery technology
• The development of lightweight and compact motor designs
• Integration of smart and IoT features
• Strategic collaborations in the industry.
What Are The Segments Of The Global Electric Traction Motor Market?
The electric traction motor market has several segments:
• By Type: AC, DC
• By Power Rating: Less Than 200 kW, Between 200 kW To 400 kW, More Than 400 kW
• By Application: Railway, Electric Vehicle, Elevators, Conveyors, Industrial Machinery
• By Industry Vertical: Chemical And Petrochemical, Oil And Gas, Energy And Power, Automotive, Food And Beverages, Healthcare, Other Industry Verticals.
Which Region Leads The Electric Traction Motor Market?
Asia-Pacific held the largest market share in the electric traction motor market in 2024. However, North America is predicted to be the fastest-growing region in this market in the foreseeable future.
[Pre-book the Report for Swift Delivery](https://www.thebusinessresearchcompany.com/report/electric-traction-motor-global-market-report)
What Is Covered In The Electric Traction Motor Market Global Market Report?
- Market Size Analysis: Analyze the Electric Traction Motor Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electric Traction Motor Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electric Traction Motor Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electric Traction Motor Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
[Request Customization for This Report](https://www.thebusinessresearchcompany.com/Customise?id=7426&type=smp)
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: mailto:info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Learn More About The Business Research Company
The Business Research Company ( https://www.thebusinessresearchcompany.com ) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Promising Future Predicted for Electric Traction Motor Market: CAGR of 18.8% for 2024-2029 Forecast, Opportunities, and Challenges Explored here
News-ID: 3813842 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
