Electric Traction Motor Market Research Report Analysis
Electric Traction Motor Market
Electric Traction Motor Market attained a value of USD
11,317 million in 2019 and is forecast to increase at a CAGR of 20% over the
forecast period. An electric traction motor is commonly used in electric
vehicles and helps convert electric energy into mechanical for propulsion of
automotive.
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Increasing investment in railway industry, surging demand
for high-speed automotives, and favourable government norms are some major
factors fueling the electric traction motor market. Also, electric traction
motor helps reduces electric usage, maintenance, and offers higher efficiency,
which will further strengthen the market growth. Other factors which include
ongoing technological improvements led by the rising research and development
activities to establish effective electric traction motor will positively
impact the market growth. However, as per the Electric Traction Motor Market
Global Forecast, the high production and designing cost and concern about
overheating might hamper the market growth.
By type, the AC Electric Traction Motor is anticipated to
expand at a faster CAGR during the forecast period because of the better
efficiency, more dependence, and less maintenance need. Thus, this has
increased the adoption of AC electric traction motor in comparison to the DC
electric traction motors, thereby bolstering the segment’s growth.
By application, the Railways segment will hold a larger
share over the forecast period as electric traction motors in railways improve
the efficiency of the railway systems and enables a smooth start without shocks
and prevent the chances of overload. Also, the increasing automation in the
rail routes and establishment of the railroad technologies have fueled the Electric
Traction Motor Market size.
By region, Asia-Pacific is anticipated to dominate the
market during the forecast period owing to the growing deployment of electric
vehicles guided by the rising concerns about the carbon emissions. In addition,
the Electric Traction Motor Market analysis asserts that the proliferation
in the metro rail network, rapid urbanization, and growing emphasis on
automation are some other factors bolstering the regional growth.
Key players operating in the market include ABB, American
Traction Systems, Robert Bosch GmbH, AMETEK, Inc., GE, CRRC Corporation
Limited, Hitachi, Ltd., CG Power and Industrial Solutions Limited, Johnson
Electric and Nidec Corporation among others.
Key Market Developments:
In 2020, Nidec Corporation introduced two traction motor
systems called 200 kW Ni200Ex and 50 kW Ni50Ex. These motor systems are incorporated
in portfolio for the electric vehicles and depend upon company’s original 150
kW E-Axle, which is the first entirely integrated traction motor system.
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In 2019, CG Power and Industrial Solutions Limited became a
part of electric vehicle segment by designing & developing an EV motor for
a 12-meter passenger bus.
Electric Traction Motor Market Segmentation:
Electric
Traction Motor Market by Type
·
DC Electric Traction Motor
·
AC Electric Traction Motor
Electric
Traction Motor Market by Power Rating
·
<200 KW
·
200-400 KW
·
>400 KW
Electric
Traction Motor Market by Application
·
Electric Vehicles
o
Hybrid Electric Vehicles
o
Battery Electric Vehicles
o
Plug-in Hybrid Electric Vehicles
o
Fuel Cell Vehicles
·
Railway
·
Others
Electric
Traction Motor Market by Region:
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
North America
o
United States of America
o
Canada
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
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