Railway Traction Motor Market Introduction and Overview
According to SPER Market Research, the Global Railway Traction Motor Market is estimated to reach USD 55.81 billion by 2033 with a CAGR of 4.63%.
The report includes an in-depth analysis of the Global Railway Traction Motor Market, including market size and trends, product mix, applications, and supplier analysis. An electric motor that transforms electrical energy into torque energy and is coupled to a shaft to produce linear motion is known as a traction motor in railroads. Traction motors are electrically powered devices that turn the train's wheels. The driving gear unit and axle transfer the turning force generated by traction motors to the wheels. Usually, traction motors are installed in the rolling stocks of railroads, which house the wheels. fewer parts for fewer things that need to be maintained less frequently. Railway traction motor noise levels are kept low by improved auxiliary devices including cooling fans and a fully sealed structure, which improves overall performance and longevity in challenging conditions.
- July 2022: Mahle created an electric traction motor that may be used in construction tractors and equipment as well as commercial vehicles. This traction motor provides excellent performance and works continuously. It is a revolutionary cooling concept that has enabled this technical leap.
- April 2022: ABB India disclosed that it is constructing a specialised facility to produce 1,500 traction motors. These will supply vital propulsion systems required for other locomotives and metro rail projects in Gujarat, India.
Market Opportunities and Challenges
Opportunities- Due to the growing demand for electric locomotives and trains globally, the market for railway traction motors is expanding steadily. In the upcoming years, the industry is anticipated to have a healthy expansion trend. Government programs to encourage clean energy and lower carbon emissions, as well as developments in motor technology, are some of the factors propelling the market's expansion. The need for traction motors is also being fuelled by the electrification of railway networks in a number of nations. The market is anticipated to keep growing in the future, with an emphasis on creating high-performance and more efficient motors to satisfy the rising demand for environmentally friendly transportation.
Challenges- The processes required to design and manufacture traction motors require state-of-the-art machinery and technology because of their small size, great durability, and dependability. Furthermore, it takes extraordinary technical expertise to optimise and customise these traction motors to precisely match the application, which drives up the cost of traction motor production even more. Consequently, manufacturers face considerable challenges due to the high investment costs associated with the development and installation of traction motors. The market's growth is also constrained by elements like the rising cost of production materials. To guarantee that these motors fulfil safety and performance requirements, strict quality control procedures are also required, which raises operating costs even more. Manufacturers are therefore forced to constantly innovate in order to cut costs without sacrificing efficiency, which makes the competitive environment more intense.
Market Competitive Landscape
The Global Healthcare Companion Robots Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are ABB Group, ALSTOM, BHEL, Bombardier, Hyundai Rotem Company, Mitsubishi Electric Corporation, Saini Group, Siemens, Sulzer Ltd, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Application.
|
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
|
| Companies Covered | ABB Group, ALSTOM, BHEL, Bombardier, Hyundai Rotem Company, Mitsubishi Electric Corporation, Saini Group, Siemens, Sulzer Ltd, Others. |
COVID-19 Impact on Global Railway Traction Motor Market
Due to the current pandemic conditions, the global railway traction motor market is impacted by the financial crisis and economic downturn, which impedes the expansion of the industry. The COVID-19 pandemic is expected to have a significant impact on nations that hold a significant portion of the global transportation market, including China, Japan, the United States, and Germany. Due to global lockdowns and holdover component supply from many nations, companies with a global traction motor supply chain are anticipated to experience COVID-related difficulties. Additionally, businesses with global supply chains might need to examine essential parts that are in low supply and think about alternative sourcing methods. The pandemic's have also resulted in production and project schedule delays, which has further impeded the expansion of global railway traction motor market.
Key Target Audience:
- Railway Equipment Manufacturers
- Railway Operators
- Urban Transport Authorities
- Government and Regulatory Bodies
- Traction Motor Manufacturers
- Public and Private Investors
- Consulting and Engineering Firms
- Renewable Energy and Sustainability Experts
- Research and Development Institutes
- Maintenance and Service Providers
Our in-depth analysis of the Railway Traction Motor Market includes the following segments:
| By Type: | DC Traction MotorAC Traction MotorSynchronous AC Traction Motor |
| By Application: | Diesel LocomotiveElectric Multiple UnitsElectric LocomotivesDiesel-Electric Locomotives |
Key Topics Covered in the Report:
- Global Railway Traction Motor Market Size (FY’2024-FY’2033)
- Overview of Global Railway Traction Motor Market
- Segmentation of Global Railway Traction Motor Market By Type (DC Traction Motor, AC Traction Motor, Synchronous AC Traction Motor)
- Segmentation of Global Railway Traction Motor Market By Application (Diesel Locomotive, Electric Multiple Units, Electric Locomotives, Diesel-Electric Locomotives)
- Statistical Snap of Global Railway Traction Motor Market
- Expansion Analysis of Global Railway Traction Motor Market
- Problems and Obstacles in Global Railway Traction Motor Market
- Competitive Landscape in the Global Railway Traction Motor Market
- Impact of COVID-19 and Demonetization on Global Railway Traction Motor Market
- Details on Current Investment in Global Railway Traction Motor Market
- Competitive Analysis of Global Railway Traction Motor Market
- Prominent Players in the Global Railway Traction Motor Market
- SWOT Analysis of Global Railway Traction Motor Market
- Global Railway Traction Motor Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Railway Traction Motor Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Railway Traction Motor Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Railway Traction Motor Market
7. Global Railway Traction Motor Market, By Type (USD Million) 2020-2033
7.1. Global Railway Traction Motor Market Size, Share and Forecast, By Type, 2020-2026
7.2. Global Railway Traction Motor Market Size, Share and Forecast, By Type, 2027-2033
7.3. DC Traction Motor
7.4. AC Traction Motor
7.5. Synchronous AC Traction Motor
8. Global Railway Traction Motor Market, By Application (USD Million) 2020-2033
8.1. Global Railway Traction Motor Market Size, Share and Forecast, By Application, 2020-2026
8.2. Global Railway Traction Motor Market Size, Share and Forecast, By Application, 2027-2033
8.3. Diesel Locomotive
8.4. Electric Multiple Units
8.5. Electric Locomotives
8.6. Diesel-Electric Locomotives
9. Global Railway Traction Motor Market Forecast, 2020-2033 (USD Million)
9.1. Global Railway Traction Motor Market Size and Market Share
10. Global Railway Traction Motor Market, By Region, 2020-2033 (USD Million)
10.1. Global Railway Traction Motor Market Size and Market Share By Region (2020-2026)
10.2. Global Railway Traction Motor Market Size and Market Share By Region (2027-2033)
10.3. Asia-Pacific
10.3.1. Australia
10.3.2. China
10.3.3. India
10.3.4. Japan
10.3.5. South Korea
10.3.6. Rest of Asia-Pacific
10.4. Europe
10.4.1. France
10.4.2. Germany
10.4.3. Italy
10.4.4. Spain
10.4.5. United Kingdom
10.4.6. Rest of Europe
10.5. Middle East and Africa
10.5.1. Kingdom of Saudi Arabia
10.5.2. United Arab Emirates
10.5.3. Qatar
10.5.4. South Africa
10.5.5. Egypt
10.5.6. Morocco
10.5.7. Nigeria
10.5.8. Rest of Middle-East and Africa
10.6. North America
10.6.1. Canada
10.6.2. Mexico
10.6.3. United States
10.7. Latin America
10.7.1. Argentina
10.7.2. Brazil
10.7.3. Rest of Latin America
11. Company Profile
11.1. ABB Group
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. ALSTOM
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. BHEL
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Bombardier
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Hyundai Rotem Company
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Mitsubishi Electric Corporation
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Saini Group
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Siemens
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Sulzer Ltd
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
