The global railway traction motors market is valued at US$ 11 billion in 2022 and is estimated to reach US$ 17 billion by 2032, expanding at a CAGR of 4.4% from 2022 to 2032 (forecast period).
Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Railway Traction Motors market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.
Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Railway Traction Motors market.
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Key findings of the Railway Traction Motors market study:
- Regional breakdown of the Railway Traction Motors market based on predefined taxonomy.
- Innovative manufacturing processes implemented by Railway Traction Motors vendors in detail.
- Region-wise and country-wise fragmentation of the Railway Traction Motors market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global Railway Traction Motors market.
Competitive Landscape
In recent years, the global railway traction motors market has witnessed numerous notable developments. Furthermore, key market players are expanding their market presence through a variety of growth methods such as strategic investments, new product launches, mergers and acquisitions, and alliances.
- Mahle released a new electric traction motor in July 2022 that can be utilized in the railway sector.
- ABB stated in April 2022 that they are building a traction motor manufacturing unit for rail and metro in India. The unit will be able to generate 1,500 traction motors per year.
- Parker-Hannifin released a new high-power, GVM310 permanent magnet AC motor with a 310 mm frame in December 2021.
- Mercedes-Benz acquired YASA Motors Ltd., a forerunner in next-generation electric powertrain technologies, in July 2021. According to the terms of the acquisition, YASA will operate its own Mercedes-Benz subsidiary, which will produce high-performance electric motors.
Key Segments of Railway Traction Motors Industry Research
- By Type:
- DC Motors
- AC Motors
- Synchronous AC Motors
- By Application:
- Diesel Locomotives
- Diesel-Electric Locomotives
- Electric Locomotives
- Electric Multiple Units (EMUs)
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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Queries addressed in the Railway Traction Motors market report:
- Why are the Railway Traction Motors market players targeting region for increased product sales?
- What patented technologies are the players utilizing in the global Railway Traction Motors market?
- Which regions are displaying the fastest growth in the Railway Traction Motors market?
- What are the underlying micro- macroeconomic factors affecting the global Railway Traction Motors market?
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