Electric Traction Motor Market

1. Market Highlights Electric traction motor is a type of electric motor which is used for propulsion of a vehicle. It is used in electrically powered rail vehicles such as electric multiple units and electric locomotives. Furthermore, traction motor is installed in fully hybrid and battery electric vehicles. Permanent magnet synchronous motor and asynchronous motors are two main types of traction motor which is currently driving the electric traction motors. Based on type, the market is segmented as AC motor and DC motor. AC segment is estimated to dominate the market during the forecast period due to its wide application in railways and electric vehicles. Increasing demand for electric vehicles and need for energy efficient motor worldwide would lead to growth in electric traction motor market. Considering the application, the market is segmented as railways, electric vehicles, elevators, conveyors, industrial machinery. Railways is the estimated to be the largest segment in electric traction motor, by application, in 2018. This is due to huge investments in expanding railway network and modernization of existing rolling stock majorly in Asia Pacific, North America, and Europe. The global electric traction motor market is expected to grow at 18.08% CAGR during the forecast period. Request free sample PDF @ https://www.marketresearchfuture.com/sample_request/7002 Segmentation The global electric traction motors market has been segmented based on type, power rating, and application. Based on type, the market is classified into AC motors and DC motors. The AC motor segment is expected to be the largest segment of electric traction motor in 2018. High demand for electric traction motors in electric vehicles and railways is likely to drive the electric traction motor market. By power rating, it comprises <200 kW, 200 kW to 400 kW, and >400 kW. By application, it is segmented into railway, electric vehicles, conveyors, elevators, and industrial machinery. The railway segment of the global electric traction motor market is estimated to register the highest growth rate during the forecast period. Recently, Paignton Zoo situated in the U.K. collaborated with Lynch Motors for converting their miniature trains to run on electricity by running on rechargeable batteries. The green approach is expected to garner new visitors to the zoo and encourage similar adoption among other entertainment sites. Key Players The key players of the global electric traction motor market CRRC (China), Alstom (France), ABB (Switzerland), GE (US), Siemens (Germany), Traktionsysteme Austria, Bosch (Germany), CG Power (India), Nidec (Japan), and Skoda Electric (Czech Republic). Market Research Analysis Asia Pacific accounts for the largest market share whereas Asia-Pacific is the fastest growing region. Region wise, Asia Pacific held the largest market share of the global electric traction motor market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in railway sector, rising urbanization and proliferation of electrification. Europe region holds significant market share and is expected to dominate the global electric traction motor market in terms of revenue contribution. Germany is leading country contributing to the growth of the European market. The market is mainly driven by factors such as the gradual shift from diesel-based to diesel-electric locomotives and electric locomotives.

2. Browse Complete Report @ https://www.marketresearchfuture.com/reports/electric-traction-motor- market-7002 About Market Research Future: Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects. Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions. Our Forte            Contact Us: Strong industry focus Robust methodology Tailor-made solutions Disruptive research Cutting-edge detailed reports Competitive pricing Domain expert researchers Timely delivery Ground-breaking approach Advanced and transparent research methodology Cover latest trends and innovations Market Research Future Office No. 524/528, Amanora Chambers Magarpatta Road, Hadapsar Pune - 411028 Maharashtra, India +1 646 845 9312 Email: sales@marketresearchfuture.com