Press release
Traction Motors Market to Hit USD 51.6 Billion by 2035 - Growth Accelerates Across Asia-Pacific, Europe, USA, and India Driven by EV Boom and Rail Electrification
The FMI report, "Traction Motors Market Size, Share, and Forecast 2025-2035," reveals global revenues will surge by over USD 33 billion in the decade, fueled by demand for high-efficiency permanent magnet synchronous motors (PMSMs) and axial flux designs in EVs, high-speed trains, and industrial applications.
A Decade of Growth Anchored by E-Mobility and Infrastructure Investments:
The shift toward electrified propulsion and regenerative braking systems is redefining transportation dynamics. Between 2025 and 2030, the traction motors market will grow by USD 15.8 billion, driven by EV fleet expansions and metro rail projects in emerging economies.
From 2030 to 2035, FMI projects an additional USD 17.6 billion in expansion, supported by Industry 4.0 integration, magnet-less motor innovations, and government mandates for zero-emission public transport.
Traction Motors Key Market Insights at a Glance:
- Metric- Global Estimate
- Market Value (2025)- USD 18.2 billion
- Forecast Value (2035)- USD 51.6 billion
- CAGR- 13.0%
- Top Application- Transportation (58.7% share)
- Dominant End User- Hybrid Vehicles (39.2% share)
- Fastest-Growing Region- Asia-Pacific (highest volume share)
India: A Rising Powerhouse in Traction Motors Demand:
India is emerging as a pivotal market, bolstered by the FAME scheme, electric bus deployments, and metro rail expansions in major cities. Policies promoting local manufacturing of EVs and three-wheelers are accelerating uptake of efficient PMSMs and brushless DC motors. Urbanization and last-mile electrification further amplify opportunities for compact, high-torque traction solutions.
Traction Motors Five Forces Driving Market Expansion:
- EV Penetration: Global EV sales and hybrid platforms demand power-dense motors for propulsion and regenerative braking.
- Rail Electrification: Investments in high-speed rail, metros, and trams prioritize reliable, high-output systems.
- Technological Evolution: Axial flux, magnet-less, and in-wheel motors reduce costs and enhance scalability.
- Supply Chain Diversification: Shift from rare-earth dependency through recycling and localized production.
- Sustainability Mandates: Zero-emission targets in Europe and Asia push carbon-neutral motor designs.
Traction Motors Market Segment Overview:
- By Application: Transportation dominates with 58.7% revenue share in 2025, led by electric trains, buses, and trucks. Industrial machinery follows, with growth in automation.
- By End User: Hybrid vehicles hold 39.2% share, bridging ICE and full EV transitions via torque assistance and fuel savings. Escalators, elevators, and compact equipment trail.
- By Region: Asia-Pacific leads in volume, driven by China's NEV policies and India's infrastructure push.
Traction Motors Market Regional Overview:
- Asia-Pacific: Commands majority share, with China's EV production and high-speed rail expansions; India grows via FAME and urban transit.
- Europe: Stringent EU norms and rail decarbonization drive 12.5% CAGR in the European Union; Germany and France lead EV motor adoption.
- North America: USA at 12.7% CAGR, fueled by federal incentives, EV fleets, and locomotive upgrades.
- Others: Japan (12.2% CAGR) excels in compact motors; South Korea (12.8% CAGR) ramps EV output.
Traction Motors Market Competitive Landscape:
* Siemens AG
* ABB Ltd.
* CRRC Corporation Limited
* Nidec Corporation
* Mitsubishi Electric Corporation
* General Electric (GE)
* Alstom
* Toshiba Corporation
* Wabtec Corporation
Siemens (14-16% share) leads in rail platforms; ABB (12-14%) focuses on metro efficiency; CRRC (10-12%) dominates APAC transit; Nidec (9-11%) innovates EV e-axles. Top players hold 45-53% combined, emphasizing R&D in thermal management and digital twins.
Traction Motors Market Outlook: Electrifying the Future of Mobility:
Over the next decade, traction motors will pivot toward compactness, silent operation, and smart diagnostics. Additive manufacturing and AI-driven predictive maintenance will streamline production, while e-mobility mandates solidify their role in drones, robotics, and smart cities.
Explore the full market insights and future trends-read the complete Market Report today! : https://www.futuremarketinsights.com/reports/sample/rep-gb-590
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About Future Market Insights (FMI)
Future Market Insights, Inc. (FMI) is an ESOMAR-certified, ISO 9001:2015 market research and consulting organization, trusted by Fortune 500 clients and global enterprises. With operations in the U.S., UK, India, and Dubai, FMI provides data-backed insights and strategic intelligence across 30+ industries and 1200 markets worldwide.
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