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Railway Traction Motor Market Heightened Revenue Growth USD 41.6 billion by 2027 | ABB Group, Saini Group, Sulzer Ltd., ALSTOM, Bombardier, BHEL, Hyundai Rotem Company

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.

Lower Emission

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

By Type

  • Direct current traction motor
  • Alternating current traction motor
  • Synchronous AC traction motor

By Application

  • Diesel locomotive
  • Electric multiple unit
  • Electric locomotive
  • Direct electric locomotive

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Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Recent Developments

  • 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

Analysis

Chapter 11: New Project Investment Feasibility Analysis

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