The railway traction motor is a specially designed electric motor that is used to provide superior torque for railway coaches. The railway coach owing to their large weight, and long service generally require motors that are robust, durable and capable to sustain the high mechanical force. As a result, the railway traction motors provide the much-needed power requirement for the efficient functioning of the railway coach.
Factors such as an increase in freight transportation through railroad and growing popularity of metro rails are expected to boost the demand for the railway traction motor. Some of the major market players in railway traction motor market are focused on the development of more efficient electric traction motors in order to sustain the market competitiveness. However, the high cost of maintenance may hinder the growth of railway traction motors market in the future.
Railway Traction Motor Market was valued at $30.3 billion in 2021, and is projected to reach at $41.6 billion by 2027, growing at a CAGR of +3% from 2021 to 2027
Market Key Player
The key players profiled in the report are ABB Group, Saini Group, Sulzer Ltd., ALSTOM, Bombardier, BHEL, Hyundai Rotem Company, Mitsubishi Electric Corporation, Siemens, and VEM Group.
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Low Manufacturing and Maintenance Cost
Increasing applications of traction motors in locomotives, heavy machineries, and multiple electric units brings down the cost of production and maintenance. The cost benefits associated with the production and aftermarket services of traction motors are expected to drive the railway traction motor market growth.
Factors such as surge in the global warming threats, industrial pollution, and exploitation of the natural resources has shifted the focus towards sustainable development. Stringent regulations have been passed by the government to curb the emissions from industries. Thus, traction motors are now being used instead of steam and diesel engines, as these motors assist in reducing emissions, and are estimated to drive the market during the forecast period.
High Investment Cost
The cost of a traction motor is high due to the excessive cost incurred toward designing and manufacturing. Moreover, the technical expertise required to customize the motor increases the cost of production. It restricts the adoption of the railway traction; thereby, hampers the market growth.
Railway Traction Motor Market Segmentation
- Direct current traction motor
- Alternating current traction motor
- Synchronous AC traction motor
- Diesel locomotive
- Electric multiple unit
- Electric locomotive
- Direct electric locomotive
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- North America
- Asia Pacific
- Middle East & Africa
- South America
- In February 2020, Nidec launched two new traction motor systems: the 200 kW Ni200Ex and 50 kW Ni50Ex based on the company’s original 150 kW E-Axle (fully integrated traction motor system with electric motor, reduction gearbox and inverter)
- In February 2020, ABB will supply traction equipment worth USD 26 million to Chittaranjan Locomotives Works (India)
- In February 2020, Nidec expanded its footprints by inaugurating three new manufacturing plants in China, Poland, and Mexico. These plants would supply millions of electric motors at significantly reduced prices.
Table of Contents:
Chapter 1: Global Railway Traction Motor Market Overview
Chapter 2: Market Data Analysis
Chapter 3: Technical Data Analysis
Chapter 4: Government Policy and News
Chapter 5: Global Railway Traction Motor Market Manufacturing Process
and Cost Structure
Chapter 6: Productions Supply Sales Demand Market Status and Forecast
Chapter 7: Key Manufacturers
Chapter 8: Up and Down Stream Industry Analysis Art Supplies
Chapter 9: Marketing Strategy
Chapter 10: 2021-2027 Railway Traction Motor Market Development Trend
Chapter 11: New Project Investment Feasibility Analysis
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