The market for railway traction motors is expected to grow at a CAGR of 4.4% from 2022 to 2032, from a market value of US$ 11 billion in 2022 to US$ 17 billion by that year.
Electric motors called railway traction motors supply electricity to a train’s rolling wheels. They are superior accessory devices, such as cooling fans to minimise noise, because they have a sealed structure that prevents dust penetration, require less maintenance, and are less noisy. Because the stator is incorporated utilising high-frequency heating, railway traction motors are incredibly dependable. These motors are so frequently found in electric, diesel-electric, and electric multiple unit (EMU) locomotives all around the world.
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Key Takeaways from Market Study
- The global railway traction motors market is valued at US$ 11 billion in 2022.
- Worldwide sales of railway traction motors are estimated to reach US$ 17 billion by 2032.
- The global market is expected to develop at a CAGR of 4.4% from 2022 to 2032.
- Asia Pacific captured 48% of the global market share in 2021.
- AC motors accounted for 45.2% share of the global railway traction motors market in 2021.
“Factors such as rise in railroad freight movement and increasing popularity of metro rails are predicted to drive demand for railway traction motors,” says a Fact.MR analyst
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 Companies Profiled in Railway Traction Motors Market Report
- Mitsubishi Electric Corporation
- ABB Ltd
- ALSTOM Holdings SA
- Caterpillar Inc.
- Bharat Heavy Electricals Limited
- Bombardier Inc
- Saini Group
- Siemens AG
- Sulzer Ltd
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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Questionnaire answered in the Market outlook Report of Railway Traction Motors include:
- What is the key strategy deployed by large players to maximize Railway Traction Motors growth?
- What are the main challenges faced by players in the Railway Traction Motors Demand?
- With the advent of technological advancement, how will the Railway Traction Motors landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Railway Traction Motors size?
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