Electric Traction Motor Market by Type (AC and DC), Power Rating (<200 kW, 200 kW to 400 kW, and >400 kW), Application (Railway, Electric Vehicles, Elevators, Conveyors, and Industrial Machinery), and Region - Global Forecast to 2023
[129 Pages Report] The global electric traction motor market was valued at USD 10.71 Billion in 2017 and is projected to reach USD 28.51 Billion by 2023, growing at a CAGR of 18.10% during the forecast period. Increasing investments in rolling stock, increasing need to minimize carbon emission, increasing need for higher efficient electric traction motors in electric vehicles, and the need for replacing aging railway network in the developing regions of Asia Pacific and the Middle East & Africa are driving the market for electric traction motor.
This report segments the market on the basis of type, power rating, application, and region. The years considered for the study are as follows:
- Base Year: 2017
- Estimated Year: 2018
- Projected Year: 2023
- Forecast Period: 20182023
The base year considered for company profiles is 20162017. In cases where information was unavailable for the base year, the prior year has been considered.
Objectives of the Study
- To define, describe, and forecast the electric traction motor market on the basis of type, power rating, application, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the market with respect to individual growth trends, future projections, and the contribution of each segment to the market
- To track and analyze competitive developments such as contracts & agreements, new product launches, expansions & investments, joint ventures, and partnerships & collaborations in the market
- To profile key players and comprehensively analyze their market ranking and core competencies
Research Methodology
This research study involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the electric traction motor market. Primary sources are mainly industry experts from the core and related industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, standards and certification organizations, and organizations related to all the segments of this industrys value chain. The points below explain the research methodology.
- Study of the annual revenues and market developments of the major players that manufacture electric traction motors
- Assessment of future trends and growth of end-users
- Assessment of the market with respect to the technology used for different applications
- Study of contracts & developments related to the market, by key players across different regions
- Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chain, and annual revenues of companies supplying electric traction motor across the globe
After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure given below illustrates the breakdown of primaries conducted during the research study, based on the company type, designation, and region.
To know about the assumptions considered for the study, download the pdf brochure
Some of the leading global manufacturers of electric traction motor are CRRC (China), Alstom (France), TSA (Austria), Siemens (Germany), ABB (Switzerland), WEG (Brazil), and BOSCH (Germany).
Target Audience:
The reports target audience includes:
- Electric traction motor manufacturing companies
- Component manufacturers and suppliers
- Consulting companies in power sector
- Government and research organizations
- Electric utilities
- State- or government-owned corporations
- Insulation raw material suppliers
The scope of the report:
- By Type
- AC
- DC
- By Power Rating
- <200 kW
- 200 kW to 400 kW
- >400 kW
- By Application
- Railway
- Electric vehicles
- Others (Elevators, conveyors, and industrial machinery)
- By Region
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the clients specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of region-/country-specific analysis
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
The electric traction motor market is estimated to be USD 12.41 Billion in 2018 and is projected to grow at a CAGR of 18.10% to reach USD 28.51 Billion by 2023. Growing demand from the railway sector and the increasing production of electric vehicles, mainly in Asia Pacific and European region, are the key factors driving the market during the forecast period.
The report segments the market, by type, into AC and DC. AC is the fastest growing segment in the market in 2017. The AC electric traction motor market is mainly driven by the increasing investment in railways and electric vehicles.
The global electric traction motor market, by power rating, has been segmented into <200 kW, 200 kW to 400 kW, and >400 kW. The <200 kW segment is expected to grow at the fastest rate during the forecast period. Electric traction motors with a power rating <200 kW are widely used in electric vehicles and light rail vehicles such as trams, mono rail, and others. Need for decarbonizing transport sector and increasing investments in the light rail vehicles are expected to drive the market for electric traction motors with rate power <200 kW during the forecast period.
The report further segments the electric traction motor market, by application, into railway, electric vehicles, and others. The electric vehicle segment is expected to grow at the highest CAGR during the forecast period. The demand for electric vehicles is increasing in order to reduce the emissions and to the increase efficiency of the vehicles by decreasing the dependence on internal combustion engines.
In this report, the electric traction motor market has been analyzed with respect to five regions, namely, Asia Pacific, Europe, North America, South America, and the Middle East & Africa. Asia Pacific is expected to dominate the market during the forecast period due to increased investments in railway sector, mainly in India and countries in South-East Asia, and the rising demand for electric vehicles in countries such as China and Japan to reduce carbon emission. The figure given below shows the projected market sizes of various regions with their respective CAGRs for 2023.
The major factor restraining the growth of the electric traction motor market is the fluctuation in the prices of raw materials such as copper, aluminium, and permanent magnets, which are mainly required for manufacturing electric traction motors such as induction motor and permanent magnet motor. The prices of raw materials directly affect the units of the value chain, which includes procurement and operation costs.
Some of the leading players in the electric traction motor market are CRRC (China), Alstom (France), TSA (Austria), Siemens (Germany), ABB (Switzerland), Bosch (Germany), and WEG (Brazil). These players have adopted growth strategies such as contracts & agreements, new product launches, joint ventures, and expansions to capture a larger share of the market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 15)
1.1 Objectives of the Study
1.2 Definition
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 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Assumptions
3 Executive Summary (Page No. - 26)
4 Premium Insights (Page No. - 30)
4.1 Attractive Opportunities in the Electric Traction Motor Market, 20182023
4.2 Market, By Country
4.3 Market, By Type
4.4 Market, By Power Rating
4.5 Market, By Application
4.6 Asia Pacific Market
5 Market Overview (Page No. - 34)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Investments in the Railway Sector
5.2.1.2 Growing Demand for Energy-Efficient Motors
5.2.2 Restraints
5.2.2.1 Volatility in Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Growing Focus on Electric Vehicles
5.2.4 Challenges
5.2.4.1 Motor Failures Due to Overheating
6 Market, By Type (Page No. - 38)
6.1 Introduction
6.2 Ac Traction Motors
6.3 Dc Traction Motors
7 Market, By Power Rating (Page No. - 43)
7.1 Introduction
7.2 <200 kW
7.3 200 kW to 400 kW
7.4 >400 kW
8 Market, By Application (Page No. - 48)
8.1 Introduction
8.2 Railway
8.2.1 Locomotives
8.2.1.1 Diesel Locomotives
8.2.1.2 Electric Locomotives
8.2.1.3 Diesel-Electric Locomotives
8.2.2 Rapid Transit Vehicles
8.2.2.1 Diesel Multiple Units
8.2.2.2 Electric Multiple Units
8.2.2.3 Light Rail Vehicles
8.2.2.4 Metro and Subway Trains
8.2.3 Railroad Cars
8.2.3.1 Passenger Coaches
8.2.3.2 Freight Wagons
8.3 Electric Vehicles
8.3.1 Hybrid Electric Vehicles
8.3.2 Battery Electric Vehicles
8.3.3 Plug-In Hybrid Vehicles
8.3.4 Fuel Cell Vehicles
8.4 Others
9 Market, By Region (Page No. - 55)
9.1 Introduction
9.2 Asia Pacific
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 China
9.2.4.2 Japan
9.2.4.3 India
9.2.4.4 South Korea
9.2.4.5 Rest of Asia Pacific
9.3 North America
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 Us
9.3.4.2 Canada
9.3.4.3 Mexico
9.4 Europe
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 Germany
9.4.4.2 France
9.4.4.3 Uk
9.4.4.4 Italy
9.4.4.5 Rest of Europe
9.5 Middle East & Africa
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 Saudi Arabia
9.5.4.2 UAE
9.5.4.3 South Africa
9.5.4.4 Rest of the Middle East & Africa
9.6 South America
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 Brazil
9.6.4.2 Rest of South America
10 Competitive Landscape (Page No. - 88)
10.1 Introduction
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 Contracts and Agreements
10.3.2 Expansions and Investments
10.3.3 New Product Launches
10.3.4 Other Strategies
11 Company Profiles (Page No. - 92)
11.1 Benchmarking
(Business Overview, Products Offered, Recent Developments & MnM View)*
11.2 Crrc
11.3 Alstom
11.4 Traktionssysteme Austria
11.5 Siemens
11.6 ABB
11.7 Bosch
11.8 CG Power
11.9 General Electric (GE)
11.10 NIDEC
11.11 Skoda Electric
11.12 Toshiba
11.13 Weg Sa
*Details on Business Overview, Products Offered, Recent Developments & MnM View Might Not Be Captured in Case of Unlisted Companies.
12 Appendix (Page No. - 122)
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets Subscription Portal
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details
List of Tables (61 Tables)
Table 1 Global Electric Traction Motor Market Snapshot
Table 2 Market Size, By Type, 20162023 (USD Million)
Table 3 Ac Traction Motors Market Size, By Region, 20162023 (USD Million)
Table 4 Dc Traction Motors Market Size, By Region, 20162023 (USD Million)
Table 5 Electric Traction Motor Market Size, By Power Rating, 20162023 (USD Million)
Table 6 Market for Electric Traction Motors With A Power Rating of <200 kW, By Region, 20162023 (USD Million)
Table 7 Market for Electric Traction Motors With A Power Rating of 200 kW to 400 kW, By Region, 20162023 (USD Million)
Table 8 Market for Electric Traction Motors With A Power Rating of >400 kW, By Region, 20162023 (USD Million)
Table 9 Electric Traction Market Size, By Application, 20162023 (USD Million)
Table 10 Electric Traction Motor Market Size for Railway Applications, By Region, 20162023 (USD Million)
Table 11 Market Size for Electric Vehicles, By Region, 20162023 (USD Million)
Table 12 Market Size for Other Applications, By Region, 20162023 (USD Million)
Table 13 Market Size, By Region, 20162023 (USD Million)
Table 14 Top Five Largest Markets, By Country, 20162023 (USD Million)
Table 15 Top Five Fastest Market, By Country, 20162023 (USD Million)
Table 16 Railways: Top Five Largest Market, By Country, 20162023 (USD Million)
Table 17 Railway: Top Five Fastest Market, By Country, 20162023 (USD Million)
Table 18 Electric Vehicles: Top Five Largest Market, By Country, 20162023 (USD Million)
Table 19 Electric Vehicles: Top Five Fastest Market, By Country, 20162023 (USD Million)
Table 20 Other Applications: Top Five Largest Market, By Country, 20162023 (USD Million)
Table 21 Other Applications: Top Five Fastest Market, By Country, 20162023 (USD Million)
Table 22 Asia Pacific: Market Size, By Type, 20162023 (USD Million)
Table 23 Asia Pacific: Market Size, By Power Rating, 20162023 (USD Million)
Table 24 Asia Pacific: Market Size, By Application, 20162023 (USD Million)
Table 25 Asia Pacific: Market Size, By Country, 20162023 (USD Million
Table 26 China: Market Size, By Application, 20162023 (USD Million)
Table 27 Japan: Market Size, By Application, 20162023 (USD Million)
Table 28 India: Market Size, By Application, 20162023 (USD Million)
Table 29 South Korea: Market Size, By Application, 20162023 (USD Million)
Table 30 Rest of Asia Pacific: Market Size, By Application, 20162023 (USD Million)
Table 31 North America: Market Size, By Type, 20162023 (USD Million)
Table 32 North America: Market Size, By Power Rating, 20162023 (USD Million)
Table 33 North America:Market Size, By Application, 20162023 (USD Million)
Table 34 North America: Market Size, By Country, 20162023 (USD Million)
Table 35 US: Market Size, By Application, 20162023 (USD Million)
Table 36 Canada: Market Size, By Application, 20162023 (USD Million)
Table 37 Mexico: Market Size, By Application, 20162023 (USD Million)
Table 38 Europe: Market Size, By Type, 20162023 (USD Million)
Table 39 Europe: Market Size, By Power Rating, 20162023 (USD Million)
Table 40 Europe: Market Size, By Application, 20162023 (USD Million)
Table 41 Europe: Market Size, By Country, 20162023 (USD Million)
Table 42 Germany: Market Size, By Application, 20162023 (USD Million)
Table 43 France: Market Size, By Application, 20162023 (USD Million)
Table 44 UK: Electric Traction Motors Market Size, By Application, 20162023 (USD Million)
Table 45 Italy: Market Size, By Application, 20162023 (USD Million)
Table 46 Rest of Europe: Market Size, By Application, 20162023 (USD Million)
Table 47 Middle East & Africa: Market Size, By Type, 20162023 (USD Million)
Table 48 Middle East & Africa: Market Size, By Power Rating, 20162023 (USD Million)
Table 49 Middle East & Africa: Market Size, By Application, 20162023 (USD Million)
Table 50 Middle East & Africa: Market Size, By Country, 20162023 (USD Billion)
Table 51 Saudi Arabia: Market Size, By Application, 20162023 (USD Million)
Table 52 UAE: Market Size, By Application, 20162023 (USD Million)
Table 53 South Africa: Market Size, By Application, 20162023 (USD Million)
Table 54 Rest of the Middle East: Market Size, By Application, 20162023 (USD Million)
Table 55 South America: Market Size, By Type, 20162023 (USD Million)
Table 56 South America: Market Size, By Power Rating, 20162023 (USD Million)
Table 57 South America: Market Size, By Application, 20162023 (USD Million)
Table 58 South America: Market Size, By Country, 20162023 (USD Million)
Table 59 Brazil: Market Size, By Application, 20162023 (USD Million)
Table 60 Rest of South America: Market Size, By Application, 20162023 (USD Million)
Table 61 Developments By Key Players in the Market, 20132018
List of Figures (38 Figures)
Figure 1 Battery Monitoring System Market Segmentation
Figure 2 Electric Traction Motor Market Research Design
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Asia Pacific to Hold the Largest Share in the Market in 2017
Figure 7 Ac Traction Motors Segment to Register the Highest Growth During the Forecast Period
Figure 8 Electric Traction Motors With A Power Rating of <200 kW Dominated the Market in 2017
Figure 9 Railway Segment to Dominate the Market During the Forecast Period
Figure 10 Rising Investment in Railways and Growing Demand for Efficient Motors to Drive the Market During the Forecast Period
Figure 11 China to Grow at the Highest Rate in the Asia Pacific Market During the Forecast Period
Figure 12 Ac Electric Motors to Grow at the Highest CAGR During the Forecast Period
Figure 13 Electric Traction Motors With A Power Rating of <200 kW to Dominate the Market During the Forecast Period
Figure 14 Electric Vehicles to Witness Highest Growth During the Forecast Period
Figure 15 China Accounted for the Largest Share of the Asia Pacific Market in 2017
Figure 16 Electric Traction Motor Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Electric Car Sales, By Country, 2016 (Thousand Units)
Figure 18 Ac Traction Motors Segment to Register the Highest Growth During the Forecast Period
Figure 19 Ac Traction Motors Market, By Region, 20182023 (USD Million)
Figure 20 Electric Traction Motors With A Power Rating of <200 kW are Expected to Dominate the Market During the Forecast Period
Figure 21 Asia Pacific is the Largest Market for Electric Traction Motors With A Power Rating of <200 kW
Figure 22 Railway Segment Accounted for the Largest Market Share, 2017
Figure 23 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Asia Pacific Led the Market in 2017
Figure 25 Asia Pacific: Market Snapshot
Figure 26 Europe: Market Snapshot
Figure 27 Key Developments in the Market During 20132018
Figure 28 Market Share Analysis, 2017
Figure 29 Crrc: Company Snapshot
Figure 30 Alstom: Company Snapshot
Figure 31 Siemens: Company Snapshot
Figure 32 ABB: Company Snapshot
Figure 33 Bosch: Company Snapshot
Figure 34 CG Power: Company Snapshot
Figure 35 GE: Company Snapshot
Figure 36 NIDEC: Company Snapshot
Figure 37 Toshiba: Company Snapshot
Figure 38 Weg: Company Snapshot
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Growth opportunities and latent adjacency in Electric Traction Motor Market