ABB (Switzerland) and Siemens (Germany) are the Key Players in the Electric Traction Motor Market

The global electric traction motor market is projected to reach USD 36.6 billion by 2025 from an estimated market size of USD 14.2 billion in 2020, at a CAGR of 20.9% during the forecast period. The increase in demand for high-performance motors, favorable government policies and subsidies, and the rise in investments in the railway sector are likely to drive the market growth. Asia Pacific is expected to be the largest market for electric traction motors, followed by Europe till 2025.

The electric traction motor market is served by a mix of large international players with presence and capabilities across different regions and local players with a strong foothold in the domestic markets. The key players operating in the market include ABB (Switzerland), CG Power and Industrial Solutions (India), CRRC (China), GE (US), and Siemens (Germany).

The major market growth strategies adopted by key players in the electric traction motor market include investments & expansions, contracts & agreements, and new product launches. Contracts & Agreements was the most adopted strategy between January 2015 and February 2020. Mergers & acquisitions have emerged as a key strategy, as companies look to strengthen their service offerings and geographic market reach by offering their product.

Amphenol Corporation (US) is one of the leading manufacturers of interconnect products globally. The company designs, manufactures, and markets electrical, electronic, and fiber-optic connectors, interconnect systems, antennas, sensors and sensor-based products, and coaxial and high-speed specialty cables. It operates through two business segments, namely, interconnect products and assemblies and cable products and solutions. The company offers electric traction motors under the interconnect products and assemblies segment, which was the highest revenue-generating division in terms of net sales in 2018. Amphenol’s key business strategy is global diversification across its product portfolio and its operational regions. In July 2017, the company launched a new product named Amphe-PD, which can be used in data center equipment, robotics, and industrial automation. It has also expanded its business in the US by setting up a manufacturing unit, which would help the company to strengthen its product portfolio.

ABB is a power and automation technology company. It offers a wide range of products, systems, solutions, and services to various industries such as oil & gas, power generation, and transport & infrastructure globally. The company operates through 4 divisions, namely, electrification products, motion, industrial automation, and robotics & discrete automation. 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.In February 2020, ABB was awarded a contract by Chittaranjan Locomotives Works. The scope of the contract was to supply traction equipment worth USD 26 million

  • In July 2019, ABB has won traction equipment orders worth more than USD 140 million from Swiss rolling stock manufacturer Stadler. ABB would supply equipment that uses the latest technology for trains and locomotives deployed in the US and across Europe.
  • In February 2019, ABB has won its largest traction equipment order in India, worth more than USD 37 million. The scope of the contract is to supply converters and motors for electric locomotives in Varanasi (India).

Siemens is a technology company with a long history of providing products and services to utilities and industries. The company conducts its industrial business through the following operating business segment; digital industries, smart infrastructure, gas and power, mobility, Siemens healthineers, and Siemens Gamesa renewable energy. apart from these industrial business’s segments, Siemens also offers solutions through financial services, and portfolio company segment. The company offers electric traction motor under its portfolio companies business segment. Through the same business division, the company also offers converters and generators (large drive applications), gear units and couplings (mechanical drives) and sorting technology and solutions for mail, parcel, baggage and cargo handling (Siemens Logistics). The company caters to the needs of diverse set of industries with key focus on automation, digitalization, intelligent infrastructure, conventional and renewable power generation, power distribution, smart mobility, and medical technologyIn July 2017, Siemens received an order to design and supply traction systems for dual cab high horsepower diesel engine locomotive for diesel locomotive works (DLW) for the Indian Railways

  • In April 2016, Siemens and Valeo (France) partnered together for venturing and selling high-voltage electric motors, range extenders, and chargers used in electrified cars and light commercial vehicles
  • In February 2015, Siemens received a contract from Diesel Locomotive Works to supply and supervise the installation and commissioning of the three-phase propulsion system and three-phase traction motors for the Indian Railways.

Related Reports:

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

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