Railway Traction Motors Market - Recent Study including Growth Factors, Applications, Regional Analysis, Key Players and Forecast

The market for traction motors is growing at varied pace across different geographical regions. In North America, the market is currently expanding at a steady pace, majorly driven by demand from the U.S. and Canada. The market for traction motors in the region is expected to undergo significant transformation owing to increasing research and development for enhancement of railway systems in the region. Moreover, emphasis on improving performance, reducing operating expenditures, maintaining regulatory standards, and customer demand for comfort are impacting the market for railway traction motors in North America. The North America market for railway traction motors is highly consolidated, due to the presence of numerous domestic and international manufacturers. Competition in the market among manufacturers is intense and thus, the entrance of new players is not swift.

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Traction motors are the most important component that primarily drives propulsion in road and rail vehicles. These electrical motors are categorized into three types: direct current (D.C.) traction motors, alternating current (A.C.) traction motors, and synchronous alternating current traction motors. Although the diesel locomotives are gradually shifting towards diesel – electric locomotives, the former still accounts for a significant share in North America. Owing to the continuous developments, the demand for traction motors, especially, A.C. traction motors is on a surge in the region. Urbanization coupled with technological developments is major drivers of the traction motors market in North America. Although railways in the region are majorly accounted for by freight rails, there has been a steady growth in passenger railways as well. In a bid to keep up with other geographical markets, especially Europe, North American infrastructure is expected to gradually shift more towards electrification of the railways, particularly for passenger rails. This shift is expected to boost the market for traction motors over the forecast period.

In railways, traction motors are used in various locomotives such as diesel, diesel-electric, electric and electrical multiple units (EMUs) among others. Conventionally, the key source of energy used in locomotives across North America is diesel. However, the U.S. Environmental Protection Agency (EPA) mandates to reduce pollution are compelling the rail industry to focus on alternate sources of energy such as electricity, liquefied petroleum gas, and hydrogen among others. The market for traction motors is expected to continue growing at a substantial pace over the period of forecast, following the ongoing changes in railway transportation technologies, growing investments in development of high speed railway corridors, emphasis on passenger rails, and intensifying competition among manufacturers.

The report includes, analysis of macro and micro economic factors driving and restraining the growth of the North America railway traction motors market. Moreover, the market attractiveness analysis provided in the report, highlights the major areas for future investments in the North America railway traction motors industry. Value chain analysis of the railway traction motors market in North America is also provided in the report to present a comprehensive idea of the different entities operating in the industry. The report is intended to help traction motor suppliers and original equipment manufacturers (OEMs) in understanding the current and upcoming opportunities in the North America railway traction motors market and formulating their business strategies accordingly. In addition, the report is expected to benefit the governments, railroad organizations and other buyer communities.

This study includes the profiles of the major players in the North America railway traction motors market and the different strategies adopted by them to enhance growth and sustain in the competition. Moreover, strength, weakness, opportunity and threats (SWOT) analysis for each company has been included under the research scope. The key participants in the North America railway traction motors market include ABB Ltd. Alstom S.A., Siemens AG, Bombardier Inc., Hynundai Rotem Company, Mitsubishi Electric Corporation, Skoda Transportation a.s., Hitachi Ltd., Sulzer Ltd. and VEM Sachsenwerk GmbH among others.

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This release was published on openPR.