🚆 Traction Motor Market Set to Surge Past $30 Billion by 2027, Driven by EV & Rail Demand

Allied Market Research recently published a compelling report titled, *"Traction Motor Market by Application (Railways, Electric Vehicle, and Industrial Vehicles), Type (DC Traction Motor, AC Traction Motor, and Synchronous Motor), and Power Rating (Less than 200 kW, 200-400 kW, and More than 400 kW): Global Opportunity Analysis and Industry Forecast, 2020-2027."

According to the report, the global traction motor market was valued at $10.78 billion in 2019 and is expected to reach $30.06 billion by 2027, registering an impressive CAGR of 13.7% from 2020 to 2027.

Get a Report Sample (229 Pages Research) at https://www.alliedmarketresearch.com/request-sample/7000

🔍 Market Drivers, Restraints & Opportunities

The market's growth is propelled by:

◾️ Widespread integration of traction motors in railway locomotives and electric vehicles.
◾️ Eco-friendly benefits with lower emissions and high energy efficiency.
◾️ Reduced manufacturing and maintenance costs compared to traditional engines.

However, the market faces challenges due to:

◾️ High cost of raw materials such as copper and rare-earth magnets.
◾️ Significant capital investments required for deployment.

🔧 Segment Highlights

By Type:

◾️ AC Traction Motors emerged as the dominant segment in 2019, capturing nearly 50% of the market share. These motors are preferred for their ability to handle variable frequencies and superior energy conversion. They're also forecast to exhibit the fastest CAGR of 14.0% through 2027.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/7000

By Power Rating:

◾️ Motors with less than 200kW held the largest share in 2019, driven by their application in EVs and light rail vehicles.

◾️ Meanwhile, the 200-400kW power segment is expected to record the fastest CAGR of 14.2%, favored in high-performance transport applications.

🌏 Regional Outlook

◾️ Asia-Pacific, led by countries like China, India, and Japan, dominated the global traction motor market in 2019, accounting for over one-third of total revenue. The region's booming EV market and rail modernization projects drive this dominance.

◾️ LAMEA (Latin America, Middle East, and Africa) is poised for the fastest growth at 15.4% CAGR, fueled by growing investments in rail infrastructure and urban mobility solutions.

🏭 Key Players in the Market

🟨 American Traction Systems (U.S.)

🟨 Toshiba and Wabtec (Japan/U.S.)

🟨 Mitsubishi (Japan)

🟨 Hitachi (Japan)

🟨 ABB (Switzerland)

🟨 Hyundai Rotem (South Korea)

🟨 CRRC (China)

🟨 Siemens (Germany)

Škoda Transportation (Czech Republic)

Request for Customization at - https://www.alliedmarketresearch.com/request-for-customization/A06635

🦠 COVID-19 Impact Insight

The COVID-19 pandemic disrupted global supply chains and paused manufacturing across several industries. The traction motor market was no exception, with delays in production and transportation projects. However, as governments worldwide ease restrictions and fast-track infrastructure investments, the sector is set to rebound rapidly with a sharper focus on clean mobility and public transportation electrification.

Contact:
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.