Railway traction motor market size was valued at $31.44 billion in 2020, and is projected to reach $48.72 billion by 2030, registering a CAGR of 4.4%.

PORTLAND, OREGON, UNITED STATES, November 3, 2023 /EINPresswire.com/ -- Allied Market Research recently published a report, titled, "Railway Traction Motor Market by Type (DC Traction Motor, AC Traction Motor and Synchronous AC Traction Motor) and Application (Diesel Locomotive, Electric Multiple Units, Electric Locomotives and Diesel-Electric Locomotives):

𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚: https://www.alliedmarketresearch.com/request-sample/4583

Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the railway traction motor industry size was pegged at $31.44 billion in 2020, and is projected to reach $48.72 billion by 2030, growing at a CAGR of 4.4% from 2021 to 2030.

𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁

Rise in integration of traction motors in railway engines, reduction in performance, low manufacturing and maintenance cost, and low emission levels have boosted the global railway traction motor industry. However, high investment cost and surge in prices of materials used for production hinder the market growth. On the contrary, rise in R&D and surge in the allocation of budget for the development of railways are expected to open new opportunities for the market players in the future.

By type, the DC traction motor segment held the largest share in 2020, accounting for around half of the global railway traction motor market share, due to high torque and better speed control compared to AC traction motors. However, the AC traction motor segment is projected to register the highest CAGR of 5.0% during the forecast period, owing to advent of power semiconductors that fit AC traction motors on a locomotive.

The electric locomotives segment to manifest the highest CAGR through 2030

By application, the electric locomotives segment is estimated to portray the highest CAGR of 6.1% during the forecast period, due to their higher power to weight ratio, greater tractive efforts on steep gradients, and faster acceleration compared to diesel engines. However, the electric multiple units segment held the largest share in 2020, contributing to nearly two-fifths of the global railway traction motor market share, owing to rise in adoption of communication-based automated train transit systems.

𝙏𝙤 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙩𝙝𝙞𝙨 𝙋𝙧𝙚𝙢𝙞𝙪𝙢 𝙍𝙚𝙥𝙤𝙧𝙩: https://www.alliedmarketresearch.com/railway-traction-motor-market/purchase-options

Europe, followed by Asia-Pacific and North America, held the largest share

By region, the market across Europe, followed by Asia-Pacific and North America, dominated in 2020, accounting for nearly one-third of the market, due to rapid urbanization in developing countries of Europe, surge in investment in development, and increase in fast & reliable railway network. However, the global railway traction motor market across LAMEA is projected to manifest the highest CAGR of 6.3% during the forecast period, due to rise in development of the railway network and transportation industry in the region.

𝗧𝗵𝗲 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀

ABB Group
ALSTOM
Saini Group
BHEL
Bombardier
Mitsubishi Electric Corporation
Hyundai Rotem Company
Sulzer Ltd.
Siemens AG
VEM Group

𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗥𝗲𝘃𝗶𝗲𝘄

By application, the electric multiple units segment dominated the global railway traction motor market in 2020, in terms of revenue, and the electric locomotive segment is anticipated to witness highest CAGR of 6.1% during the forecast period. Presently, Europe is the highest revenue contributor, and expected to lead the market during the forecast period, followed by Asia-Pacific.

𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮: https://www.alliedmarketresearch.com/purchase-enquiry/4583

Covid-19 scenario:

The Covid-19 pandemic negatively affected the industry due to the financial crisis and economic slowdown.
The prolonged lockdown across European and Asian countries disrupted the supply chain and created challenges such as a shortage of raw materials. Thus, market players had to consider different strategies for alternative sourcing.
The DC traction motor segment held the lion's share

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 :

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David Correa
Allied Analytics LLP
+1 800-792-5285
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