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Electric Traction Motors-Global Market Insights and Sales Trends 2024
Synopsis
Electric traction motors are electric motors specifically designed to provide propulsion for vehicles, trains, and other transportation systems. They convert electrical energy from a power source, such as batteries or overhead lines, into mechanical energy to drive the vehicle's wheels or other propulsion mechanisms. Electric traction motors play a crucial role in the electrification of transportation, offering advantages in terms of efficiency, reduced emissions, and improved performance.
The global Electric Traction Motors market size is expected to reach US$ 23200 million by 2029, growing at a CAGR of 8.7% from 2023 to 2029. The market is mainly driven by the significant applications of Electric Traction Motors in various end use industries. The expanding demands from the Rail Industry, Electric Vehicle, Boat and Others, are propelling Electric Traction Motors market. AC, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the DC segment is estimated at % CAGR for the next seven-year period.
Accelerated Electrification of Transportation: The global push for electrification of transportation, including passenger cars, buses, trucks, and even commercial vehicles, was a significant driver of the electric traction motors market. Governments and regulations around the world were encouraging the adoption of electric vehicles (EVs) to reduce emissions and promote sustainability.
EV Range and Efficiency Improvement: Manufacturers were focusing on improving the efficiency and performance of electric traction motors to extend the range of EVs and enhance overall driving experience. Advances in motor design, materials, and control systems were contributing to these improvements.
Diverse EV Offerings: The market saw an increasing variety of electric vehicles, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). Each of these segments required different types of electric traction motors to meet specific needs.
High-Performance EVs: The development of high-performance electric vehicles, including sports cars and performance-oriented models, led to a demand for electric traction motors with higher power outputs and advanced control systems for superior acceleration and handling.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Electric Traction Motors, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Electric Traction Motors market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Electric Traction Motors market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Electric Traction Motors sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Electric Traction Motors covered in this report include KONCAR, CG Power and Industrial Solutions, Siemens AG, Parker-Hannifin Corp, SKF AB, ABB Ltd., Alstom SA, CRRC Corporation Limited, Robert Bosch GmbH and Nidec Corporation, etc.
The global Electric Traction Motors market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
KONCAR
CG Power and Industrial Solutions
Siemens AG
Parker-Hannifin Corp
SKF AB, ABB Ltd.
Alstom SA
CRRC Corporation Limited
Robert Bosch GmbH
Nidec Corporation
Toshiba Corp
Lynch Motors
Global Electric Traction Motors market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Electric Traction Motors market, Segment by Type:
AC
DC
Global Electric Traction Motors market, by Application
Rail Industry
Electric Vehicle
Boat
Others
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Electric Traction Motors manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Electric Traction Motors in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Electric traction motors are electric motors specifically designed to provide propulsion for vehicles, trains, and other transportation systems. They convert electrical energy from a power source, such as batteries or overhead lines, into mechanical energy to drive the vehicle's wheels or other propulsion mechanisms. Electric traction motors play a crucial role in the electrification of transportation, offering advantages in terms of efficiency, reduced emissions, and improved performance.
The global Electric Traction Motors market size is expected to reach US$ 23200 million by 2029, growing at a CAGR of 8.7% from 2023 to 2029. The market is mainly driven by the significant applications of Electric Traction Motors in various end use industries. The expanding demands from the Rail Industry, Electric Vehicle, Boat and Others, are propelling Electric Traction Motors market. AC, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the DC segment is estimated at % CAGR for the next seven-year period.
Accelerated Electrification of Transportation: The global push for electrification of transportation, including passenger cars, buses, trucks, and even commercial vehicles, was a significant driver of the electric traction motors market. Governments and regulations around the world were encouraging the adoption of electric vehicles (EVs) to reduce emissions and promote sustainability.
EV Range and Efficiency Improvement: Manufacturers were focusing on improving the efficiency and performance of electric traction motors to extend the range of EVs and enhance overall driving experience. Advances in motor design, materials, and control systems were contributing to these improvements.
Diverse EV Offerings: The market saw an increasing variety of electric vehicles, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). Each of these segments required different types of electric traction motors to meet specific needs.
High-Performance EVs: The development of high-performance electric vehicles, including sports cars and performance-oriented models, led to a demand for electric traction motors with higher power outputs and advanced control systems for superior acceleration and handling.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Electric Traction Motors, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Electric Traction Motors market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Electric Traction Motors market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Electric Traction Motors sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Electric Traction Motors covered in this report include KONCAR, CG Power and Industrial Solutions, Siemens AG, Parker-Hannifin Corp, SKF AB, ABB Ltd., Alstom SA, CRRC Corporation Limited, Robert Bosch GmbH and Nidec Corporation, etc.
The global Electric Traction Motors market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
KONCAR
CG Power and Industrial Solutions
Siemens AG
Parker-Hannifin Corp
SKF AB, ABB Ltd.
Alstom SA
CRRC Corporation Limited
Robert Bosch GmbH
Nidec Corporation
Toshiba Corp
Lynch Motors
Global Electric Traction Motors market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Electric Traction Motors market, Segment by Type:
AC
DC
Global Electric Traction Motors market, by Application
Rail Industry
Electric Vehicle
Boat
Others
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Electric Traction Motors manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Electric Traction Motors in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Electric Traction Motors Market Overview
1.1 Electric Traction Motors Product Overview
1.2 Electric Traction Motors Market Segment by Type
1.2.1 AC
1.2.2 DC
1.3 Global Electric Traction Motors Market Size by Type
1.3.1 Global Electric Traction Motors Market Size Overview by Type (2018-2029)
1.3.2 Global Electric Traction Motors Historic Market Size Review by Type (2018-2023)
1.3.3 Global Electric Traction Motors Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Electric Traction Motors Sales Breakdown by Type (2018-2023)
1.4.2 Europe Electric Traction Motors Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Electric Traction Motors Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Electric Traction Motors Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Electric Traction Motors Sales Breakdown by Type (2018-2023)
2 Global Electric Traction Motors Market Competition by Company
2.1 Global Top Players by Electric Traction Motors Sales (2018-2023)
2.2 Global Top Players by Electric Traction Motors Revenue (2018-2023)
2.3 Global Top Players by Electric Traction Motors Price (2018-2023)
2.4 Global Top Manufacturers Electric Traction Motors Manufacturing Base Distribution, Sales Area, Product Type
2.5 Electric Traction Motors Market Competitive Situation and Trends
2.5.1 Electric Traction Motors Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Electric Traction Motors Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Electric Traction Motors as of 2022)
2.7 Date of Key Manufacturers Enter into Electric Traction Motors Market
2.8 Key Manufacturers Electric Traction Motors Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Electric Traction Motors Status and Outlook by Region
3.1 Global Electric Traction Motors Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Electric Traction Motors Historic Market Size by Region
3.2.1 Global Electric Traction Motors Sales in Volume by Region (2018-2023)
3.2.2 Global Electric Traction Motors Sales in Value by Region (2018-2023)
3.2.3 Global Electric Traction Motors Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Electric Traction Motors Forecasted Market Size by Region
3.3.1 Global Electric Traction Motors Sales in Volume by Region (2024-2029)
3.3.2 Global Electric Traction Motors Sales in Value by Region (2024-2029)
3.3.3 Global Electric Traction Motors Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Electric Traction Motors by Application
4.1 Electric Traction Motors Market Segment by Application
4.1.1 Rail Industry
4.1.2 Electric Vehicle
4.1.3 Boat
4.1.4 Others
4.2 Global Electric Traction Motors Market Size by Application
4.2.1 Global Electric Traction Motors Market Size Overview by Application (2018-2029)
4.2.2 Global Electric Traction Motors Historic Market Size Review by Application (2018-2023)
4.2.3 Global Electric Traction Motors Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Electric Traction Motors Sales Breakdown by Application (2018-2023)
4.3.2 Europe Electric Traction Motors Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Electric Traction Motors Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Electric Traction Motors Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Electric Traction Motors Sales Breakdown by Application (2018-2023)
5 North America Electric Traction Motors by Country
5.1 North America Electric Traction Motors Historic Market Size by Country
5.1.1 North America Electric Traction Motors Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Electric Traction Motors Sales in Volume by Country (2018-2023)
5.1.3 North America Electric Traction Motors Sales in Value by Country (2018-2023)
5.2 North America Electric Traction Motors Forecasted Market Size by Country
5.2.1 North America Electric Traction Motors Sales in Volume by Country (2024-2029)
5.2.2 North America Electric Traction Motors Sales in Value by Country (2024-2029)
6 Europe Electric Traction Motors by Country
6.1 Europe Electric Traction Motors Historic Market Size by Country
6.1.1 Europe Electric Traction Motors Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Electric Traction Motors Sales in Volume by Country (2018-2023)
6.1.3 Europe Electric Traction Motors Sales in Value by Country (2018-2023)
6.2 Europe Electric Traction Motors Forecasted Market Size by Country
6.2.1 Europe Electric Traction Motors Sales in Volume by Country (2024-2029)
6.2.2 Europe Electric Traction Motors Sales in Value by Country (2024-2029)
7 Asia-Pacific Electric Traction Motors by Region
7.1 Asia-Pacific Electric Traction Motors Historic Market Size by Region
7.1.1 Asia-Pacific Electric Traction Motors Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Electric Traction Motors Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Electric Traction Motors Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Electric Traction Motors Forecasted Market Size by Region
7.2.1 Asia-Pacific Electric Traction Motors Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Electric Traction Motors Sales in Value by Region (2024-2029)
8 Latin America Electric Traction Motors by Country
8.1 Latin America Electric Traction Motors Historic Market Size by Country
8.1.1 Latin America Electric Traction Motors Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Electric Traction Motors Sales in Volume by Country (2018-2023)
8.1.3 Latin America Electric Traction Motors Sales in Value by Country (2018-2023)
8.2 Latin America Electric Traction Motors Forecasted Market Size by Country
8.2.1 Latin America Electric Traction Motors Sales in Volume by Country (2024-2029)
8.2.2 Latin America Electric Traction Motors Sales in Value by Country (2024-2029)
9 Middle East and Africa Electric Traction Motors by Country
9.1 Middle East and Africa Electric Traction Motors Historic Market Size by Country
9.1.1 Middle East and Africa Electric Traction Motors Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Electric Traction Motors Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Electric Traction Motors Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Electric Traction Motors Forecasted Market Size by Country
9.2.1 Middle East and Africa Electric Traction Motors Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Electric Traction Motors Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 KONCAR
10.1.1 KONCAR Company Information
10.1.2 KONCAR Introduction and Business Overview
10.1.3 KONCAR Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.1.4 KONCAR Electric Traction Motors Products Offered
10.1.5 KONCAR Recent Development
10.2 CG Power and Industrial Solutions
10.2.1 CG Power and Industrial Solutions Company Information
10.2.2 CG Power and Industrial Solutions Introduction and Business Overview
10.2.3 CG Power and Industrial Solutions Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.2.4 CG Power and Industrial Solutions Electric Traction Motors Products Offered
10.2.5 CG Power and Industrial Solutions Recent Development
10.3 Siemens AG
10.3.1 Siemens AG Company Information
10.3.2 Siemens AG Introduction and Business Overview
10.3.3 Siemens AG Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Siemens AG Electric Traction Motors Products Offered
10.3.5 Siemens AG Recent Development
10.4 Parker-Hannifin Corp
10.4.1 Parker-Hannifin Corp Company Information
10.4.2 Parker-Hannifin Corp Introduction and Business Overview
10.4.3 Parker-Hannifin Corp Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Parker-Hannifin Corp Electric Traction Motors Products Offered
10.4.5 Parker-Hannifin Corp Recent Development
10.5 SKF AB, ABB Ltd.
10.5.1 SKF AB, ABB Ltd. Company Information
10.5.2 SKF AB, ABB Ltd. Introduction and Business Overview
10.5.3 SKF AB, ABB Ltd. Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.5.4 SKF AB, ABB Ltd. Electric Traction Motors Products Offered
10.5.5 SKF AB, ABB Ltd. Recent Development
10.6 Alstom SA
10.6.1 Alstom SA Company Information
10.6.2 Alstom SA Introduction and Business Overview
10.6.3 Alstom SA Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Alstom SA Electric Traction Motors Products Offered
10.6.5 Alstom SA Recent Development
10.7 CRRC Corporation Limited
10.7.1 CRRC Corporation Limited Company Information
10.7.2 CRRC Corporation Limited Introduction and Business Overview
10.7.3 CRRC Corporation Limited Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.7.4 CRRC Corporation Limited Electric Traction Motors Products Offered
10.7.5 CRRC Corporation Limited Recent Development
10.8 Robert Bosch GmbH
10.8.1 Robert Bosch GmbH Company Information
10.8.2 Robert Bosch GmbH Introduction and Business Overview
10.8.3 Robert Bosch GmbH Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Robert Bosch GmbH Electric Traction Motors Products Offered
10.8.5 Robert Bosch GmbH Recent Development
10.9 Nidec Corporation
10.9.1 Nidec Corporation Company Information
10.9.2 Nidec Corporation Introduction and Business Overview
10.9.3 Nidec Corporation Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.9.4 Nidec Corporation Electric Traction Motors Products Offered
10.9.5 Nidec Corporation Recent Development
10.10 Toshiba Corp
10.10.1 Toshiba Corp Company Information
10.10.2 Toshiba Corp Introduction and Business Overview
10.10.3 Toshiba Corp Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.10.4 Toshiba Corp Electric Traction Motors Products Offered
10.10.5 Toshiba Corp Recent Development
10.11 Lynch Motors
10.11.1 Lynch Motors Company Information
10.11.2 Lynch Motors Introduction and Business Overview
10.11.3 Lynch Motors Electric Traction Motors Sales, Revenue and Gross Margin (2018-2023)
10.11.4 Lynch Motors Electric Traction Motors Products Offered
10.11.5 Lynch Motors Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Electric Traction Motors Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Electric Traction Motors Industrial Chain Analysis
11.4 Electric Traction Motors Market Dynamics
11.4.1 Electric Traction Motors Industry Trends
11.4.2 Electric Traction Motors Market Drivers
11.4.3 Electric Traction Motors Market Challenges
11.4.4 Electric Traction Motors Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Electric Traction Motors Distributors
12.3 Electric Traction Motors Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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