Electric Traction Motor Market by Type (AC and DC), Power Rating (Below 200 kW, 200-400 kW, and Above 400 kW), Application (Railways, Electric Vehicles, Elevators, Conveyors, and Industrial Machinery), and Region: Global Forecast to 2025
Electric Traction Motor Market
Global Electric traction motor Market is expected to grow at a CAGR of 20.9%
Electric Traction Motor Market and Top Companies
Key market players profiled in the Electric traction motor market report includes:
- ABB
- Siemens
- Ametek (US)
- General Electric (US)
- Toshiba (Germany)
- Eaton (Ireland)
- CG Power and Industrial Solutions (India)
- Mitsubishi Electric
- Kawasaki Heavy Industries (Japan)
- Voith (Germany)
- ABB (Switzerland) ABB is a technology leader in electrification products, power grids, industrial automation, and robotics for industries such as Utilities, Transport, and Infrastructure. The company operates its business through 4 segments, namely Electrification Products, Robotics and Discrete Automation, Industrial Automation, and Motion. ABB has a strong global presence with its corporate research centers in 7 countries, namely China, Germany, India, Poland, Sweden, Switzerland, and the US. It operates in more than 100 countries and has more than 300 manufacturing plants located in these countries.
- Siemens (Germany) Siemens is a major technology company with core business activities in the field of electrification, automation, and digitalization. The company operates its business through 8 business divisions, which include Gas and Power, Digital Industries, Smart Infrastructure, Siemens Healthineers, Siemens Gamesa Renewable Energy, Mobility, Portfolio Companies, and Financial Services. Siemens operates in Europe, North America, the Middle East, and Asia Pacific. It operates in more than 100 countries across the world and has a strong network of regional offices, warehouses, R&D facilities, and sales offices. It has factory locations in the US (Sacramento, Louisville, Indiana, New Castle, Pittsburgh, Portland, and Georgia), Germany, and China among many other locations.
- Ametek (US) AMETEK is a global manufacturer of electronic instruments and electromechanical devices. The company has two operating business segments, namely, electronic instruments group and electromechanical group. It offers electric traction motors through its electromechanical business segment which also supplies automation and precision motion control solutions, as well as highly engineered electrical interconnects, specialty metals, and thermal management systems.
- General Electric (US) General Electric manufactures products for generation, transmission, distribution, control, and utilization of electricity. The company operates through 5 business segments, namely Aviation, Power, Healthcare, Renewable Energy, and Capital. General Electric operates in 180 countries in the US, Europe, Asia Pacific, the Middle East & Africa, and the Americas. It has 162 manufacturing plants located in 34 states in the US and Puerto Rico and 297 manufacturing plants in 41 other countries.
- Toshiba (Germany) Toshiba is a multinational company that manufactures and distributes electronic and electrical products worldwide. The company conducts operations through six business segments, which include energy systems & solutions, infrastructure systems & solutions, storage & electronic devices solutions, industrial ICT solutions, and others. It offers electric traction motors under the infrastructure system & solutions business segment.
- Eaton (Ireland) Eaton is one of the major power management companies that provides energy-efficient solutions to manage electrical, mechanical, and hydraulic power. The company operates the business through six major business segments, namely, electrical products, electrical systems and services, hydraulics, vehicle, aerospace, and eMobility. It provides electric traction motors, pumps, and hydraulic power units under the hydraulics business segment. Eaton has its presence in more than 175 countries. The company has a total of approximately 284 manufacturing locations in 42 countries
- CG Power and Industrial Solutions (India) CG Power and Industrial Solutions is an Indian multinational corporation engaged in the design and manufacture of electrical products. The company operates through two segments, namely, power systems and industrial systems. It offers electric traction motors through its industrial systems business segment. The company has a significant global presence with operations across more than 85 countries. It has more than 20 manufacturing bases in India, along with overseas facilities in Belgium, Hungary, Indonesia, Ireland, France, the UK, and the US.
- Mitsubishi Electric (Japan) Mitsubishi manufactures electric and electronic equipment for domestic as well as commercial purposes. The company operates through 6 business segments, namely Industrial Automation Systems, Energy and Electric Systems, Home Appliances, Information and Communication Systems, Electronic Devices, and Others. The company has operational presence in over 90 countries globally. The company operates 23 manufacturing locations in Japan in addition to international manufacturing facilities in the US, the UK, Thailand, Malaysia, China, and other countries
- Kawasaki Heavy Industries (Japan) Kawasaki Heavy Industries manufactures and sells industrial goods and transportation equipment. The company operates through seven segments, namely, aerospace systems, energy system & plant engineering, precision machinery & robot, ship & offshore structure, rolling stock, motorcycle & engine, and others. The company has 49 subsidiaries in Japan and 48 overseas. Some of its major subsidiaries are Kawasaki Rolling Stock Component Co., Ltd. (Japan), and Kawasaki Rolling Stock Technology Co., Ltd. (Japan)
- Voith (Germany) Voith is a technology company that offers systems, products, services, and digital applications for energy, oil & gas, paper, raw materials, and transport & automotive markets. The company operates its business through four group divisions, namely, hydro, paper, turbo, and digital ventures. The company provides electric traction motors under its turbo business segment. This division is a specialist in providing intelligent drive solutions, systems, and leading-edge services.
Electric traction motor Market and Top Application
Top end users in electric traction motor Market are:
- Railway
- Electric Vehicle
- Railway Electric traction motors are installed in every type of train for propulsion. Usually, one to two engines drive the wheels of a single bogie on a train. AC induction three-phase asynchronous and permanent-magnet AC synchronous motors are the two most widely used traction motors in the railway sector due to their high-power output, low maintenance cost, and increased efficiency over DC electric traction motors. The need for effective rail transport is steadily increasing globally due to the growing population in developing economies and the increasing demand for intercity and interurban mobility. These factors are likely to drive the electric traction motor market worldwide.
- Electric Vehicle Electric vehicles are gaining popularity due to their potential to reduce pollution. In the US, an electric car has been found to provide a 30% reduction in carbon emissions. The increasing number of electric vehicles worldwide is leading to a higher demand for efficient traction motors. These vehicles use induction traction motors and permanent magnet synchronous traction motors for propulsion.
Electric traction motor Market and Top type
Top type in electric traction motor market is:
- AC
- AC AC electric traction motors are more into demand because they are simple to construct, do not require any additional mechanical contacts such as brushes to work, and are lighter than DC electric traction motors for equivalent power. These motors are widely used in rail industries, electric vehicles, and industrial machineries for their propulsion.
Electric traction motor Market and Top Use Cases
Top use cases in electric traction motor Market are:
- February 2020 Nidec launched two new traction motor systems: the 200 kW Ni200Ex and 50 kW Ni50Ex based on the companys original 150 kW E-Axle (fully integrated traction motor system with an electric motor, reduction gearbox, and inverter).
- December 2019 Voith and CRRC have agreed to strengthen their cooperation in the rail and industrial sectors by entering into a joint venture to develop electric drive systems for the commercial vehicle market
- January 2019 Robert Bosch acquired EM-Motive. With the help of this acquisition, Robert Bosch would be able to expand its product portfolio to meet the growing demand for electrified vehicles.
[164 Pages Report] The electric traction motor market is projected to grow at a CAGR of 20.9% from 2020 to 2025, to reach a market size of USD 36.6 billion by 2025 from USD 14.2 billion in 2020. The increase in demand for high-performance motors, favorable government policies and subsidies, and the rise in investments in the railway sector are expected to drive the electric traction motor market during the forecast period.
The AC segment is expected to be the largest contributor to the market, by type, during the forecast period
The report segments the electric traction motor market based on type into AC and DC. The AC segment is projected to be the largest market for electric traction motors, by type, during the forecast period. Earlier, DC motors were preferred for railway applications; however, AC motors are now increasingly being used due to modern power electronics. Compared to DC motors, AC motors are more efficient and easier to control.
The below 200 kW segment is expected to be the largest market, by power rating during the forecast period
The report segments the electric traction motor market based on power rating into below 200 kW, 200-400 kW, and above 400 kW. The below 200 kW segment is expected to hold the largest size of the electric traction motor market, by power rating during the forecast period. The large share of this segment can mainly be attributed to the extensive use of below 200 kW power rated motors in electric vehicles and light rail transit vehicles, which is expected to grow at a faster pace in the coming years.
The railways segment is expected to be the largest contributor to the electric traction motor market, by application, during the forecast period
The railway segment is expected to hold the largest size of the electric traction motor market, by application, during the forecast period. Electric traction motors are an essential part of railway trains. The railways segment is likely to dominate the market in the coming years due to the increased reliance of the railway industry on electric traction motors for enhanced speed control and high start-up torque.
Asia Pacific is expected to be the largest electric traction motor market during the forecast period
In this report, the electric traction motor market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is estimated to be the largest market for electric traction motors in 2020 due to the rising investments in electric vehicles and the growing metro rail network in the region. Asia Pacific is also expected to be the fastest growing market for electric traction motors owing to the increasing need to reduce carbon emissions in the region.
Key Market Players
The major players in the electric traction motor market include ABB (Switzerland), CG Power and Industrial Solutions (India), CRRC (China), GE (US), and Siemens (Germany).
ABB is a power and automation technology company. It provides electric traction motor under the motion business segment. ABB has strong electrical motor product portfolio catering to industrial, commercial and residential applications. The company also offers services that complement its products and solutions, including design and project management, engineering, installation, training and life cycle care, energy efficiency appraisals, preventive maintenance and digital services such as remote monitoring and software tools. The company is strengthening its market position and gaining market share through new contracts and long-term supply agreements. For instance, in February 2020, ABB was awarded a contract by Chittaranjan Locomotives Works to supply traction equipment worth USD 26 million. Also, in July 2019, the company has won traction equipment orders worth more than USD 140 million from Swiss rolling stock manufacturer Stadler.
Another major player in the market is GE (US). GE aims to hold a competitive position in the market with respect to technological innovations & solutions and infrastructural capabilities. It is strengthening its competitive advantage by expanding its infrastructure facilities. For instance, in July 2017, the company expanded its footprint by inaugurating its first locomotive repair center in Kazakhstan for the corrective and overhaul preventive works, which includes spare parts and repairing of traction and brake systems. The company also aims to enhance its technological competence through continuous R&D investments as well. For this, the company invested USD 4.2 billion in 2019 in R&D activities, to accelerate the technology and innovation into the next-generation cutting-edge products. GE over the past three years has consistently spent about 4% of its total revenue on R&D activities.
Scope of the Report
|
Report Metric |
Details |
|
Market size available for years |
20182025 |
|
Base year considered |
2019 |
|
Forecast period considered |
20202025 |
|
Forecast units |
Value (USD) |
|
Segments covered |
Type, power rating, application, and region |
|
Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, and South America |
|
Key companies covered |
ABB (Switzerland), CG Power and Industrial Solutions (India), CRRC (China), GE (US), and Siemens (Germany) |
This research report categorizes the electric traction motor market by type, power rating, application, and region.
By Type
- AC
- DC
By Power Rating
- Below 200 kW
- 200-400 kW
- Above 400 kW
By Application
- Railways
- Electric Vehicle
- Others
By Region
- 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 companys 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.
Key Questions Addressed by the Report
- What are the industry trends that will be seen over the next 5 years?
- Which of the electric traction motor market material will lead by 2025?
- Which of the application segment will have the maximum opportunity to grow during the forecast period?
- Which will be the leading region with the highest market share by 2025?
- How are companies implementing organic and strategies to gain increased market share?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Frequently Asked Questions (FAQ):
What are the industry trends that will be seen over the next five years?
The high demand for electric vehicles will be seen as a growing industry trend over the next five years
Which of the electric traction motor market will lead by 2025?
The AC segment, by type will have the maximum opportunity to grow during the forecast period.
Which of the application segment will have the maximum opportunity to grow during the forecast period?
The railways segment is expected to be the largest contributor to the electric traction motor market, by application, during the forecast period.
Which will be the leading region with the highest market share by 2025?
Asia Pacific is the leading region with the largest market share.
How are companies implementing organic and inorganic strategies to gain increased market share?
As a part of organic strategy companies are adopting new product launches, and investments & expansions and as a part of inorganic strategies companies are adopting contracts & agreements to increase their market share.
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 18)
1.1 OBJECTIVES OF THE STUDY
1.2 DEFINITION
1.2.1 ELECTRIC TRACTION MOTOR MARKET, BY TYPE: INCLUSIONS & EXCLUSIONS
1.2.2 ELECTRIC TRACTION MOTOR MARKET, BY POWER RATING: INCLUSIONS & EXCLUSIONS
1.2.3 ELECTRIC TRACTION MOTOR MARKET, BY APPLICATION: INCLUSIONS & EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
1.4 YEARS CONSIDERED FOR THE STUDY
1.5 CURRENCY
1.6 LIMITATIONS
1.7 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 23)
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of primaries
2.2 SCOPE
2.3 MARKET SIZE ESTIMATION
2.3.1 DEMAND-SIDE ANALYSIS
2.3.1.1 Calculation
2.3.1.2 Assumptions
2.3.2 SUPPLY-SIDE ANALYSIS
2.3.2.1 Calculation
2.3.2.2 Assumptions
2.3.3 FORECAST
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
2.5 SOME OF THE INSIGHTS OF INDUSTRY EXPERTS
3 EXECUTIVE SUMMARY (Page No. - 32)
4 PREMIUM INSIGHTS (Page No. - 36)
4.1 ATTRACTIVE OPPORTUNITIES IN THE ELECTRIC TRACTION MOTOR MARKET
4.2 ELECTRIC TRACTION MOTOR MARKET, BY TYPE
4.3 ELECTRIC TRACTION MOTOR MARKET, BY POWER RATING
4.4 ASIA PACIFIC ELECTRIC TRACTION MOTOR MARKET, BY APPLICATION & COUNTRY
4.5 ELECTRIC TRACTION MOTOR MARKET, BY REGION
5 MARKET OVERVIEW (Page No. - 40)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Increasing stringency of emission regulations has pushed OEMs to manufacture and sell electric and hybrid vehicles
5.2.1.2 Increased demand for high-performance motors
5.2.1.3 Favorable government policies and subsidies
5.2.1.4 Increasing investments in the railway sector
5.2.2 RESTRAINTS
5.2.2.1 High initial deployment cost of electric traction motors in the rail industry
5.2.2.2 Volatility of raw material prices, especially copper
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing demand for electric vehicles
5.2.4 CHALLENGES
5.2.4.1 High cost of electric vehicles as compared to the Internal Combustion Engine (ICE) vehicles
5.2.4.2 Motor failure due to overheating
6 ELECTRIC TRACTION MOTOR MARKET, BY TYPE (Page No. - 46)
6.1 INTRODUCTION
6.2 AC
6.2.1 HIGH EFFICIENCY AND LOW MANUFACTURING COST OF AC ELECTRIC TRACTION MOTORS ARE EXPECTED TO DRIVE THEIR DEMAND
6.3 DC
6.3.1 OPERATIONAL BENEFITS SUCH AS LOW NOISE AND LESS MAINTENANCE ARE EXPECTED TO DRIVE THE DEMAND FOR DC ELECTRIC TRACTION MOTORS
7 ELECTRIC TRACTION MOTOR MARKET, BY POWER RATING (Page No. - 50)
7.1 INTRODUCTION
7.2 BELOW 200 KW
7.2.1 DEMAND FROM ELECTRIC VEHICLES, ELEVATORS, AND LIGHT RAIL TRANSIT SYSTEMS IS LIKELY TO DRIVE THE SEGMENT
7.3 200400 KW
7.3.1 DEMAND FROM A WIDE ARRAY OF APPLICATIONS SUCH AS METRO SYSTEMS, HIGH-SPEED TRAINS, AND SUBWAY TRAINS IS EXPECTED TO DRIVE THE MARKET
7.4 ABOVE 400 KW
7.4.1 INCREASING RATE OF URBANIZATION AND GROWING POPULATION ARE EXPECTED TO DRIVE THE DEMAND FOR ABOVE 400 KW POWER RATED MOTORS
8 ELECTRIC TRACTION MOTOR MARKET, BY APPLICATION (Page No. - 55)
8.1 INTRODUCTION
8.2 RAILWAY
8.2.1 INCREASED RELIANCE OF THE RAILWAY INDUSTRY ON ELECTRIC TRACTION MOTORS FOR HIGH EFFICIENCY AND LOW MAINTENANCE COST IS LIKELY TO DRIVE THE MARKET
8.2.1.1 Locomotives
8.2.1.1.1 Diesel locomotives
8.2.1.1.2 Electric locomotives
8.2.1.1.3 Diesel-electric locomotives
8.2.1.2 Rapid transit vehicles
8.2.1.2.1 Diesel multiple units
8.2.1.2.2 Electric multiple units
8.2.1.2.3 Light rail vehicles
8.2.1.2.4 Metro and subway trains
8.2.1.3 Railroad cars
8.2.1.3.1 Passenger coaches
8.2.1.3.2 Freight wagons
8.3 ELECTRIC VEHICLE
8.3.1 INCREASING NUMBER OF ELECTRIC VEHICLES WORLDWIDE IS LEADING TO A HIGHER DEMAND FOR EFFICIENT TRACTION MOTORS
8.3.1.1 Hybrid Electric Vehicle (HEV)
8.3.1.2 Battery Electric Vehicle (BEV)
8.3.1.3 Plug-in Hybrid Electric Vehicle (PHEV)
8.4 OTHERS
9 ELECTRIC TRACTION MOTOR MARKET, BY REGION (Page No. - 62)
9.1 INTRODUCTION
9.2 NORTH AMERICA
9.2.1 BY TYPE
9.2.2 BY POWER RATING
9.2.3 BY APPLICATION
9.2.4 BY COUNTRY
9.2.4.1 US
9.2.4.1.1 Growing electric car segment is the primary factor driving the demand for electric traction motors
9.2.4.2 Canada
9.2.4.2.1 Investment in electric vehicles and fuel-efficient locomotives is expected to drive the market
9.2.4.3 Mexico
9.2.4.3.1 Rising focus on the decarbonization of Mexicos transport sector is likely to drive the electric traction motor market in the country
9.3 EUROPE
9.3.1 BY TYPE
9.3.2 BY POWER RATING
9.3.3 BY APPLICATION
9.3.4 BY COUNTRY
9.3.4.1 UK
9.3.4.1.1 Growing investments in the railway sector and the increasing adoption of electric vehicles offer growth opportunities for the electric traction motor market
9.3.4.2 Germany
9.3.4.2.1 Renewable energy capacity developments supported by the increasing share of electric vehicles are driving the electric traction motor market
9.3.4.3 Italy
9.3.4.3.1 Developments in the electric car industry are likely to drive the market
9.3.4.4 France
9.3.4.4.1 Increasing investments in electric vehicle charging infrastructure are likely to boost the demand for electric traction motors
9.3.4.5 Rest of Europe
9.4 ASIA PACIFIC
9.4.1 BY TYPE
9.4.2 BY POWER RATING
9.4.3 BY APPLICATION
9.4.4 BY COUNTRY
9.4.4.1 China
9.4.4.1.1 Increasing investments in electric vehicles to meet air quality standards are contributing to the growth of the electric traction motor market
9.4.4.2 Japan
9.4.4.2.1 Government initiatives for reinforcing transportation efficiency are likely to create lucrative opportunities for the electric traction motor market
9.4.4.3 India
9.4.4.3.1 Government initiatives to upgrade the existing diesel locomotives with electric ones are likely to boost the electric traction motor market
9.4.4.4 South Korea
9.4.4.4.1 Increasing investments in electric vehicles and railway projects are likely to boost the demand for electric traction motors
9.4.4.5 Rest of Asia Pacific
9.5 SOUTH AMERICA
9.5.1 BY TYPE
9.5.2 BY POWER RATING
9.5.3 BY APPLICATION
9.5.4 BY COUNTRY
9.5.4.1 Brazil
9.5.4.1.1 Robust development of the transportation sector and increased demand for electric traction motors are likely to boost the market
9.5.4.2 Rest of South America
9.6 MIDDLE EAST & AFRICA
9.6.1 BY TYPE
9.6.2 BY POWER RATING
9.6.3 BY APPLICATION
9.6.4 BY COUNTRY
9.6.4.1 Saudi Arabia
9.6.4.1.1 Increasing rate of traffic congestion and rising demand for better transport facilities are driving the electric traction motor market in Saudi Arabia
9.6.4.2 UAE
9.6.4.2.1 Government initiatives to reduce greenhouse emissions are likely to drive the electric traction motor market
9.6.4.3 South Africa
9.6.4.3.1 Increasing investment in the railway sector is likely to boost the growth of the electric traction motor market in South Africa
9.6.4.4 Rest of Middle East & Africa
10 COMPETITIVE LANDSCAPE (Page No. - 103)
10.1 OVERVIEW
10.2 COMPETITIVE LEADERSHIP MAPPING
10.2.1 VISIONARY LEADERS
10.2.2 INNOVATORS
10.2.3 DYNAMIC DIFFERENTIATORS
10.2.4 EMERGING PLAYERS
10.3 MARKET SHARE ANALYSIS
10.4 COMPETITIVE SCENARIO
10.4.1 NEW PRODUCT LAUNCHES
10.4.2 CONTRACTS & AGREEMENTS
10.4.3 INVESTMENTS & EXPANSIONS
10.4.4 MERGERS & ACQUISITIONS
10.4.5 PARTNERSHIPS & COLLABORATIONS
10.4.6 JOINT VENTURES
11 COMPANY PROFILES (Page No. - 111)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
11.1 ABB
11.2 AMETEK
11.3 SIEMENS
11.4 GE
11.5 TOSHIBA
11.6 EATON
11.7 MITSUBISHI ELECTRIC
11.8 CG POWER AND INDUSTRIAL SOLUTIONS
11.9 KAWASAKI HEAVY INDUSTRIES
11.10 VOITH
11.11 CRRC
11.12 TRAKTIONSSYSTEME
11.13 ROBERT BOSCH
11.14 NIDEC
11.15 WEG
11.16 AMERICAN TRACTION SYSTEMS
11.17 HITACHI
11.18 HYUNDAI ROTEM
11.19 KODA ELECTRIC
11.20 VEM GROUP
*Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
12 APPENDIX (Page No. - 156)
12.1 KEY INSIGHTS OF INDUSTRY EXPERTS
12.2 DISCUSSION GUIDE
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
12.4 AVAILABLE CUSTOMIZATIONS
12.5 RELATED REPORTS
12.6 AUTHOR DETAILS
LIST OF TABLES (100 TABLES)
TABLE 1 ELECTRIC TRACTION MOTOR MARKET SNAPSHOT
TABLE 2 KEY COUNTRIES: PASSENGER CAR EMISSION REGULATION SPECIFICATION OVERVIEW, BY FUEL TYPE, 20162021
TABLE 3 ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 4 AC: ELECTRIC TRACTION MOTOR MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 5 DC: ELECTRIC TRACTION MOTOR MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 6 ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 7 BELOW 200 KW: ELECTRIC TRACTION MOTOR MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 8 200400 KW: ELECTRIC TRACTION MOTOR MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 9 ABOVE 400 KW: ELECTRIC TRACTION MOTOR MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 10 ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 11 RAILWAY: ELECTRIC TRACTION MOTOR MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 12 ELECTRIC VEHICLE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 13 OTHERS: ELECTRIC TRACTION MOTOR MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 14 ELECTRIC TRACTION MOTOR MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 15 TOP FIVE LARGEST ELECTRIC TRACTION MOTOR MARKETS, BY COUNTRY, 20182025 (USD MILLION)
TABLE 16 TOP FIVE FASTEST ELECTRIC TRACTION MOTOR MARKETS, BY COUNTRY, 20182025 (USD MILLION)
TABLE 17 RAILWAY: TOP FIVE LARGEST ELECTRIC TRACTION MOTOR MARKETS, BY COUNTRY, 20182025 (USD MILLION)
TABLE 18 RAILWAY: TOP FIVE FASTEST ELECTRIC TRACTION MOTOR MARKETS, BY COUNTRY, 20182025 (USD MILLION)
TABLE 19 ELECTRIC VEHICLE: TOP FIVE LARGEST ELECTRIC TRACTION MOTOR MARKETS, BY COUNTRY, 20182025 (USD MILLION)
TABLE 20 ELECTRIC VEHICLE: TOP FIVE FASTEST ELECTRIC TRACTION MOTOR MARKETS, BY COUNTRY, 20182025 (USD MILLION)
TABLE 21 OTHERS: TOP FIVE LARGEST ELECTRIC TRACTION MOTOR MARKETS, BY COUNTRY, 20182025 (USD MILLION)
TABLE 22 OTHERS: TOP FIVE FASTEST ELECTRIC TRACTION MOTOR MARKETS, BY COUNTRY, 20182025 (USD MILLION)
TABLE 23 LARGEST ELECTRIC TRACTION MOTOR MARKET, BY REST OF REGION, 20182025 (USD MILLION)
TABLE 24 NORTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 25 NORTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 26 NORTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 27 NORTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
TABLE 28 US: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 29 US: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 30 US: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 31 CANADA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 32 CANADA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 33 CANADA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 34 MEXICO: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 35 MEXICO: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 36 MEXICO: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 37 EUROPE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 38 EUROPE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 39 EUROPE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 40 EUROPE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
TABLE 41 UK: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 42 UK: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 43 UK: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 44 GERMANY: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 45 GERMANY: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 46 GERMANY: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 47 ITALY: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 48 ITALY: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 49 ITALY: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 50 FRANCE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 51 FRANCE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 52 FRANCE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 53 REST OF EUROPE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 54 REST OF EUROPE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 55 REST OF EUROPE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 56 ASIA PACIFIC: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 57 ASIA PACIFIC: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 58 ASIA PACIFIC: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION 20182025 (USD MILLION)
TABLE 59 ASIA PACIFIC: ELECTRIC TRACTION MOTOR MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
TABLE 60 CHINA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 61 CHINA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 62 CHINA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 63 JAPAN: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 64 JAPAN: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 65 JAPAN: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 66 INDIA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 67 INDIA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 68 INDIA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 69 SOUTH KOREA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 70 SOUTH KOREA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 71 SOUTH KOREA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 72 REST OF ASIA PACIFIC: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 73 REST OF ASIA PACIFIC: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 74 REST OF ASIA PACIFIC: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 75 SOUTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 76 SOUTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 77 SOUTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 78 SOUTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
TABLE 79 BRAZIL: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 80 BRAZIL: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 81 BRAZIL: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 82 REST OF SOUTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 83 REST OF SOUTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 84 REST OF SOUTH AMERICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 85 MIDDLE EAST & AFRICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 86 MIDDLE EAST & AFRICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 87 MIDDLE EAST & AFRICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 88 MIDDLE EAST & AFRICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
TABLE 89 SAUDI ARABIA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 90 SAUDI ARABIA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 91 SAUDI ARABIA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 92 UAE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 93 UAE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 94 UAE: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 95 SOUTH AFRICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 96 SOUTH AFRICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 97 SOUTH AFRICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 98 REST OF MIDDLE EAST & AFRICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 99 REST OF MIDDLE EAST & AFRICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
TABLE 100 REST OF MIDDLE EAST & AFRICA: ELECTRIC TRACTION MOTOR MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
LIST OF FIGURES (47 FIGURES)
FIGURE 1 ELECTRIC TRACTION MOTOR MARKET: RESEARCH DESIGN
FIGURE 2 MAIN METRICS CONSIDERED WHILE CONSTRUCTING AND ASSESSING THE DEMAND FOR THE ELECTRIC TRACTION MOTOR MARKET
FIGURE 3 ELECTRIC TRACTION MOTOR MARKET: INDUSTRY-/COUNTRY-WISE ANALYSIS
FIGURE 4 ELECTRIC TRACTION MOTOR MARKET: SUPPLY-SIDE ANALYSIS
FIGURE 5 ELECTRIC TRACTION MOTOR MARKET: THE COMPANIES MARKET SHARES
FIGURE 6 DATA TRIANGULATION METHODOLOGY
FIGURE 7 AC SEGMENT IS EXPECTED TO HOLD THE LARGEST SHARE OF THE ELECTRIC TRACTION MOTOR MARKET, BY TYPE, DURING THE FORECAST PERIOD
FIGURE 8 BELOW 200 KW SEGMENT IS EXPECTED TO LEAD THE ELECTRIC TRACTION MOTOR MARKET, BY POWER RATING, DURING THE FORECAST PERIOD
FIGURE 9 RAILWAY SEGMENT IS EXPECTED TO LEAD THE ELECTRIC TRACTION MOTOR MARKET, BY APPLICATION, DURING THE FORECAST PERIOD
FIGURE 10 ASIA PACIFIC DOMINATED THE ELECTRIC TRACTION MOTOR MARKET (BY VALUE) IN 2019
FIGURE 11 INCREASE IN DEMAND FOR HIGH-PERFORMANCE MOTORS AND FAVORABLE GOVERNMENT POLICIES AND SUBSIDIES ARE EXPECTED TO DRIVE THE ELECTRIC TRACTION MOTOR MARKET, 20202025
FIGURE 12 AC SEGMENT IS PROJECTED TO LEAD THE ELECTRIC TRACTION MOTOR MARKET, BY TYPE, UNTIL 2025
FIGURE 13 BELOW 200 KW SEGMENT IS PROJECTED TO DOMINATE THE ELECTRIC TRACTION MOTOR MARKET, BY POWER RATING, UNTIL 2025
FIGURE 14 RAILWAY SEGMENT AND CHINA DOMINATED THE ASIA PACIFIC ELECTRIC TRACTION MOTOR MARKET IN 2019
FIGURE 15 ASIA PACIFIC ELECTRIC TRACTION MOTOR MARKET IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 16 ELECTRIC TRACTION MOTOR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
FIGURE 17 COPPER (LME) PRICE TREND (IN USD PER METRIC TON), JANUARY 2016OCTOBER 2019
FIGURE 18 ELECTRIC CAR DEPLOYMENT IN SELECTED COUNTRIES, 20132018
FIGURE 19 ELECTRIC TRACTION MOTOR MARKET (VALUE), BY TYPE, 2019
FIGURE 20 ELECTRIC TRACTION MOTOR MARKET (VALUE), BY POWER RATING, 2019
FIGURE 21 ELECTRIC TRACTION MOTOR MARKET (VALUE), BY APPLICATION, 2019
FIGURE 22 REGIONAL SNAPSHOT: ASIA PACIFIC ELECTRIC TRACTION MOTOR MARKET IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 23 ELECTRIC TRACTION MOTOR MARKET SHARE (VALUE), BY REGION, 2019
FIGURE 24 EUROPE: REGIONAL SNAPSHOT
FIGURE 25 ASIA PACIFIC: REGIONAL SNAPSHOT
FIGURE 26 KEY DEVELOPMENTS IN THE ELECTRIC TRACTION MOTOR MARKET, DURING 2015FEBRUARY 2020
FIGURE 27 ELECTRIC TRACTION MOTOR MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
FIGURE 28 MARKET SHARE ANALYSIS, 2018
FIGURE 29 ABB: COMPANY SNAPSHOT
FIGURE 30 ABB: SWOT ANALYSIS
FIGURE 31 AMETEK: COMPANY SNAPSHOT
FIGURE 32 AMETEK: SWOT ANALYSIS
FIGURE 33 SIEMENS: COMPANY SNAPSHOT
FIGURE 34 SIEMENS: SWOT ANALYSIS
FIGURE 35 GE: COMPANY SNAPSHOT
FIGURE 36 GE: SWOT ANALYSIS
FIGURE 37 TOSHIBA: COMPANY SNAPSHOT
FIGURE 38 TOSHIBA: SWOT ANALYSIS
FIGURE 39 EATON: COMPANY SNAPSHOT
FIGURE 40 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
FIGURE 41 CG POWER AND INDUSTRIAL SOLUTIONS: COMPANY SNAPSHOT
FIGURE 42 KAWASAKI HEAVY INDUSTRIES: COMPANY SNAPSHOT
FIGURE 43 VOITH: COMPANY SNAPSHOT
FIGURE 44 CRRC: COMPANY SNAPSHOT
FIGURE 45 ROBERT BOSCH: COMPANY SNAPSHOT
FIGURE 46 NIDEC: COMPANY SNAPSHOT
FIGURE 47 WEG: COMPANY SNAPSHOT
This study involved four major activities in estimating the current size of the electric traction motor market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. The market breakdown and data triangulation techniques were employed to estimate the market size of the segments and the corresponding subsegments.
Secondary Research
This research study involved the use of extensive secondary sources, directories, and databases such as power data, industry publications, several newspaper articles, Statista Industry Journal, Factiva, and electric traction motor journal to identify and collect information useful for a technical, market-oriented, and commercial study of the electric traction motor market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research
The electric traction motor market comprises several stakeholders such as companies related to the industry, consulting companies in the power sector, power companies, government & research organizations, organizations, forums, alliances & associations, electric traction motor service providers, state & national energy authorities, dealers & suppliers, and vendors. The demand side of the market is characterized by the electric traction motor expenditure across regions, investments by key power companies, and maturing of the renewable energy sector. The demand is also driven by a change in rules and regulations, and active participation from environmental bodies have pushed the electric traction motor market. The supply side is characterized by the contracts & agreements, new product launches, investments & expansions, and partnerships & collaborations among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:
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Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the global electric traction motor market and its dependent submarkets. These methods were also extensively used to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and demand have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
- The applications supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in electric traction motor activities.
Report Objectives
- To define, describe, segment, and forecast the electric traction motor market on the basis of type, power rating, application, and region
- To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze the electric traction motor market with respect to individual growth trends, future expansions, and contribution of each segment to the market
- To analyze market opportunities for stakeholders and details of the competitive landscape for market leaders
- To forecast the growth of the electric traction motor market with respect to the main regions (Asia Pacific, Europe, North America, South America, and the Middle East & Africa)
- To strategically profile key players and comprehensively analyze their market ranking and core competencies
- To track and analyze competitive developments such as contracts & agreements, investments & expansions, new product developments, and mergers & acquisitions in the electric traction motor market
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the clients specific needs. The following customization options are available for this report:
Regional Analysis
- Further breakdown of the regions and country-specific analysis
- Further country-specific breakdown of electric vehicle subsegment in the hybrid electric vehicle, battery electric vehicle, plug-in-hybrid electric vehicle, fuel cell vehicle
Company Information
- Detailed analyses and profiling of additional market players (up to five)
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Growth opportunities and latent adjacency in Electric Traction Motor Market