Electric Traction Motor Market Size, Trends and Insights By Type (AC motor, DC Motor), By Power Rating (<200 kW, 200 kW to 400 kW, >400 kW), By Application (Electric Vehicles, Railways, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030


Report Code: CMI18558

Published Date: September 2022

Pages: 220+

Category: Energy And Power

Reports Description

Increasingly strict pollution standards are encouraging OEMs to produce and market electric and hybrid vehicles, which, in turn, is boosting the demand for electric traction motors.

According to Custom Market Insights (CMI), The Global Electric Traction Motor Market Size was valued at USD 12 billion in 2021 and is expected to reach USD 12.2 billion in 2022, and is estimated to reach USD 24 billion by the end of 2030 at a CAGR of approximately 13% during the forecast period 2022-2030.

 Our research report offers a 360-degree view of the Electric Traction Motor market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Electric Traction Motor market.

Electric Traction Motor Market (By Application)

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Electric Traction Motor Market: Overview

When two surfaces come into contact without slipping, traction is created electrically or without electricity. An electric motor called a traction motor is utilized to create rotational torque on a machine, often converted into a straight-line motion. Due to the demands of low-torque high torque, low-speed hill-climbing, high-speed cruising, a fast rate of acceleration/deceleration, and a high range of operating speed, this motor is classified as a special class in industrial motors.

The electric milk floats, elevators, conveyors, railways, trams, and EVs are just a few examples of the electrically powered rail vehicles that utilize this traction motor, along with electric locomotives and electric multiple units.  

Electric Traction Motor Market: COVID – 19 Impact Analysis

COVID-19 has a significant negative impact on the global electric traction motor. The global economic collapse has resulted from the COVID-19 outbreak. During this time, consumer spending is changing in all main nations. Low-level regulations in several areas are constraining the growth of the transportation sector.

Fueling has been banned for both domestic and international travel at this time. These limitations have also cast doubt on the electric traction market’s supply chain. The industry’s supply-demand imbalance may impact profitability. A scarcity of raw materials for the market and a slowdown in manufacturing are further issues. All these factors significantly alter the prognosis for the electric traction motor industry.

Electric Traction Motor Market: Growth Drivers

Governments’ Stringent Regulations for Pollution Control

Day by day, there are more and more worries about the damaging impacts of various modes of transportation on the environment, including air pollution. Due to growing environmental pollution concerns, automobile manufacturers have been compelled to create automobiles that adhere to local regulatory norms. Several factors have contributed to the popularity of electric and hybrid vehicles. Electric and hybrid vehicles’ popularity has been fueled partly by government subsidies, zero emissions, battery technology improvements, and user experiences. Sales of electric vehicles, including BEVs, HEVs, and PHEVs, have surged due to stricter emission regulations.
Electric Traction Motor Market (By Power Rating)
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Automated systems have taken the place of mechanical links as a result of vehicle electrification. For instance, the rising use of 48-volt electrical systems in automobiles has increased the demand for powerful electric traction motors to meet the necessary power requirements. The motor business has been directly impacted by the rise in electric car sales, which bodes well for the future of the electric traction motor market.

Surging Demand for Electric Vehicles

Due to fluctuating fuel prices and the growing need to reduce CO2 emissions, the number of electric and hybrid vehicles is fast increasing. According to the Automotive Fuel Economy Survey, nearly 40% of American automobile owners named fuel economy as the most important factor in increasing the efficiency of their vehicles. The International Energy Agency (IEA) estimates that approximately 10 million electric vehicles were sold globally in 2020, an increase of 63% from the year before. Over 95% of the world’s supply of electric two- and three-wheelers comes from China.

Traction motors are the main mechanisms in hybrid and all-electric vehicles for transforming electrical energy into mechanical energy. Electric traction motors are included in electric vehicles for initial propulsion and to give the vehicle rotational torque. The need for traction motors has significantly increased due to advancements in hybrid vehicle technologies. Because they are more lightweight than induction motors and have a more compact design, electric traction motors like permanent magnet synchronous motors are frequently utilized in electric vehicles. Another significant reason driving the expansion of the market for electric traction motors is the growing awareness of the negative impacts of vehicle carbon emissions.

Electric Traction Motor Market: Segmentation Analysis

In our research scope, the Electric Traction Motor market is segmented into power rating, type, and application. By power rating, the <200 kW segment is anticipated to witness a high CAGR during the projection period. Electric vehicles and light rail vehicles like trams, monorails, and others commonly employ electric traction motors with a power rating of 200 kW or less. In the upcoming years, the segment’s growth is anticipated to be driven by the need to reduce carbon emissions in the transportation industry and increased expenditures on light rail vehicles. 

Electric Traction Motor Market (By Type)

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Based on type, the AC motors segment is estimated to hold the largest market share in 2021. Because they don’t need any mechanical components to function, AC motors are simpler to construct and lighter than DC motors of the same power. Modern electronics allow AC units to operate precisely and successfully to improve traction and adhesion.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 12 Billion
Projected Market Size in 2030 USD 24 Billion
CAGR Growth Rate 13% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players Siemens AG, NIDEC Corporation, CRRC, Skoda Electric, CG Power, GE, Bosch, Alstom, and Others
Key Segment By Type, Power Rating, Application, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Key Insights: 

  • Per the analysis shared by our research analyst, the Electric Traction Motor market is estimated to grow annually at a CAGR of around 13% over the forecast period (2022-2030).
  • In terms of revenue, the Electric Traction Motor market was valued at around USD 12 billion in 2021 and is projected to reach USD 24 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • Based on power rating segmentation, the <200 kW segment was predicted to show maximum market share in 2021.
  • Based on the type segmentation, the AC motors segment was the leading revenue-generating category in 2021.
  • Based on application segmentation, the electric vehicle (EV) segment was the leading revenue-generating category in 2021.
  • Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.

Recent Development

  • 2020: NIDEC CORPORATION increased its geographic reach by opening three new production facilities in China, Poland, and Mexico. These factories would provide electric motors in the millions at considerably lower costs.
  • 2019: A contract for the delivery of 300 Urban 9/9 electric buses for the BRTS circuit in Ahmedabad was accepted by Tata Motor. This one is the only business in India to obtain such a large order. It also supports the government’s promotion of e-mobility. 

Competitive Landscape

The leading manufacturers implement a variety of strategies, including acquisitions and mergers. The leading players also employ new product launches and focus on ongoing technological breakthroughs in their strategy. By investing in R&D, the businesses are also attempting to hold the market share.

Our report offers quantitative and qualitative insights into the Electric Traction Motor market and major development initiatives adopted by the key players. Further, it offers competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and the players’ recent developments. 

List of the prominent players in the Global Electric Traction Motor Market:

  • Siemens AG
  • NIDEC Corporation
  • CRRC
  • Skoda Electric
  • CG Power
  • GE
  • Bosch
  • Alstom

Regional Landscape

The market for electric traction motors is anticipated to develop fastest between 2022 and 2030 in the Asia Pacific region. The increased need for transportation connectivity brought about by the region’s growing population has prompted investments in the railway industry. It is projected to spur additional growth in demand for electric traction motors.

Electric Traction Motor Market (trends by region)

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The global Electric Traction Motor market is segmented as follows:

By Type

  • AC motor
  • DC motor

By Power Rating

  • <200 kW
  • 200 kW to 400 kW
  • >400 kW

By Application

  • Electric Vehicles
  • Railways
  • Others

On the basis of Geography

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Electric Traction Motor Market, (2022 – 2030) (USD Billion)
    • 2.2 Global Electric Traction Motor Market: snapshot
  • Chapter 3. Global Electric Traction Motor Market – Industry Analysis
    • 3.1 Electric Traction Motor Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Governments’ Stringent Regulations for Pollution Control
      • 3.2.2 Governments’ Stringent Regulations for Pollution Control
      • 3.2.3 Surging Demand for Electric Vehicles
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Power Rating
      • 3.7.3 Market attractiveness analysis By Application
  • Chapter 4. Global Electric Traction Motor Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Electric Traction Motor Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Electric Traction Motor Market – Type Analysis
    • 5.1 Global Electric Traction Motor Market overview: By Type
      • 5.1.1 Global Electric Traction Motor Market share, By Type, 2021 and 2030
    • 5.2 AC Motor
      • 5.2.1 Global Electric Traction Motor Market by AC Motor, 2022 – 2030 (USD Billion)
    • 5.3 DC Motor
      • 5.3.1 Global Electric Traction Motor Market by DC Motor, 2022 – 2030 (USD Billion)
  • Chapter 6. Global Electric Traction Motor Market – Power Rating Analysis
    • 6.1 Global Electric Traction Motor Market overview: By Power Rating
      • 6.1.1 Global Electric Traction Motor Market share, By Power Rating, 2021 and 2030
    • 6.2 <200 kW
      • 6.2.1 Global Electric Traction Motor Market by <200 kW, 2022 – 2030 (USD Billion)
    • 6.3 200 kW to 400 kW
      • 6.3.1 Global Electric Traction Motor Market by 200 kW to 400 kW, 2022 – 2030 (USD Billion)
    • 6.4 >400 kW
      • 6.4.1 Global Electric Traction Motor Market by >400 kW, 2022 – 2030 (USD Billion)
  • Chapter 7. Global Electric Traction Motor Market – Application Analysis
    • 7.1 Global Electric Traction Motor Market overview: By Application
      • 7.1.1 Global Electric Traction Motor Market share, By Application, 2021 and 2030
    • 7.2 Electric Vehicles
      • 7.2.1 Global Electric Traction Motor Market by Electric Vehicles, 2022 – 2030 (USD Billion)
    • 7.3 Railways
      • 7.3.1 Global Electric Traction Motor Market by Railways, 2022 – 2030 (USD Billion)
  • Chapter 8. Electric Traction Motor Market – Regional Analysis
    • 8.1 Global Electric Traction Motor Market Regional Overview
    • 8.2 Global Electric Traction Motor Market Share, by Region, 2021 & 2030 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Electric Traction Motor Market, 2022 – 2030 (USD Billion)
        • 8.3.1.1 North America Electric Traction Motor Market, by Country, 2022 – 2030 (USD Billion)
    • 8.4 North America Electric Traction Motor Market, by Type, 2022 – 2030
      • 8.4.1 North America Electric Traction Motor Market, by Type, 2022 – 2030 (USD Billion)
    • 8.5 North America Electric Traction Motor Market, by Power Rating, 2022 – 2030
      • 8.5.1 North America Electric Traction Motor Market, by Power Rating, 2022 – 2030 (USD Billion)
    • 8.6 North America Electric Traction Motor Market, by Application, 2022 – 2030
      • 8.6.1 North America Electric Traction Motor Market, by Application, 2022 – 2030 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Electric Traction Motor Market, 2022 – 2030 (USD Billion)
        • 8.7.1.1 Europe Electric Traction Motor Market, by Country, 2022 – 2030 (USD Billion)
    • 8.8 Europe Electric Traction Motor Market, by Type, 2022 – 2030
      • 8.8.1 Europe Electric Traction Motor Market, by Type, 2022 – 2030 (USD Billion)
    • 8.9 Europe Electric Traction Motor Market, by Power Rating, 2022 – 2030
      • 8.9.1 Europe Electric Traction Motor Market, by Power Rating, 2022 – 2030 (USD Billion)
    • 8.10 Europe Electric Traction Motor Market, by Application, 2022 – 2030
      • 8.10.1 Europe Electric Traction Motor Market, by Application, 2022 – 2030 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Electric Traction Motor Market, 2022 – 2030 (USD Billion)
        • 8.11.1.1 Asia Pacific Electric Traction Motor Market, by Country, 2022 – 2030 (USD Billion)
    • 8.12 Asia Pacific Electric Traction Motor Market, by Type, 2022 – 2030
      • 8.12.1 Asia Pacific Electric Traction Motor Market, by Type, 2022 – 2030 (USD Billion)
    • 8.13 Asia Pacific Electric Traction Motor Market, by Power Rating, 2022 – 2030
      • 8.13.1 Asia Pacific Electric Traction Motor Market, by Power Rating, 2022 – 2030 (USD Billion)
    • 8.14 Asia Pacific Electric Traction Motor Market, by Application, 2022 – 2030
      • 8.14.1 Asia Pacific Electric Traction Motor Market, by Application, 2022 – 2030 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Electric Traction Motor Market, 2022 – 2030 (USD Billion)
        • 8.15.1.1 Latin America Electric Traction Motor Market, by Country, 2022 – 2030 (USD Billion)
    • 8.16 Latin America Electric Traction Motor Market, by Type, 2022 – 2030
      • 8.16.1 Latin America Electric Traction Motor Market, by Type, 2022 – 2030 (USD Billion)
    • 8.17 Latin America Electric Traction Motor Market, by Power Rating, 2022 – 2030
      • 8.17.1 Latin America Electric Traction Motor Market, by Power Rating, 2022 – 2030 (USD Billion)
    • 8.18 Latin America Electric Traction Motor Market, by Application, 2022 – 2030
      • 8.18.1 Latin America Electric Traction Motor Market, by Application, 2022 – 2030 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Electric Traction Motor Market, 2022 – 2030 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Electric Traction Motor Market, by Country, 2022 – 2030 (USD Billion)
    • 8.20 The Middle-East and Africa Electric Traction Motor Market, by Type, 2022 – 2030
      • 8.20.1 The Middle-East and Africa Electric Traction Motor Market, by Type, 2022 – 2030 (USD Billion)
    • 8.21 The Middle-East and Africa Electric Traction Motor Market, by Power Rating, 2022 – 2030
      • 8.21.1 The Middle-East and Africa Electric Traction Motor Market, by Power Rating, 2022 – 2030 (USD Billion)
    • 8.22 The Middle-East and Africa Electric Traction Motor Market, by Application, 2022 – 2030
      • 8.22.1 The Middle-East and Africa Electric Traction Motor Market, by Application, 2022 – 2030 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Siemens AG
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 NIDEC Corporation
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 CRRC
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Skoda Electric
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 CG Power
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 GE
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Bosch
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Alstom
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments

List Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Electric Traction Motor Market, 2022 – 2030 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Electric Traction Motor Market attractiveness, By Type
  • 6. Global Electric Traction Motor Market attractiveness, By Power Rating
  • 7. Global Electric Traction Motor Market attractiveness, By Application
  • 8. Global Electric Traction Motor Market share by Type, 2022 and 2030 (USD Billion)
  • 9. Global Electric Traction Motor Market by AC Motor, 2022 – 2030 (USD Billion)
  • 10. Global Electric Traction Motor Market by DC Motor, 2022 – 2030 (USD Billion)
  • 11. Global Electric Traction Motor Market share by Power Rating, 2022 and 2030 (USD Billion)
  • 12. Global Electric Traction Motor Market by <200 kW, 2022 – 2030 (USD Billion)
  • 13. Global Electric Traction Motor Market by 200 kW to 400 kW, 2022 – 2030 (USD Billion)
  • 14. Global Electric Traction Motor Market by >400 kW, 2022 – 2030 (USD Billion)
  • 15. Global Electric Traction Motor Market share by Application, 2022 and 2030 (USD Billion)
  • 16. Global Electric Traction Motor Market by Electric Vehicles, 2022 – 2030 (USD Billion)
  • 17. Global Electric Traction Motor Market by Railways, 2022 – 2030 (USD Billion)
  • 18. Global Electric Traction Motor Market share, by Region, 2022 and 2030
  • 19. North America Electric Traction Motor Market, 2022 – 2030 (USD Billion)
  • 20. Europe Electric Traction Motor Market, 2022 – 2030 (USD Billion)
  • 21. Asia Pacific Electric Traction Motor Market, 2022 – 2030 (USD Billion)
  • 22. Latin America Electric Traction Motor Market, 2022 – 2030 (USD Billion)
  • 23. The Middle-East and Africa Electric Traction Motor Market, 2022 – 2030 (USD Billion)

List Of Tables

  • 1. Global Electric Traction Motor Market: Snapshot
  • 2. Drivers of the Electric Traction Motor Market: impact analysis
  • 3. North America Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 4. North America Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 5. North America Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 6. U.S. Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 7. U.S. Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 8. U.S. Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 9. Canada Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 10. Canada Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 11. Canada Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 12. Europe Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 13. Europe Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 14. Europe Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 15. Germany Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 16. Germany Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 17. Germany Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 18. France Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 19. France Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 20. France Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 21. U.K. Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 22. U.K. Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 23. U.K. Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 24. Italy Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 25. Italy Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 26. Italy Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 27. Spain Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 28. Spain Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 29. Spain Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 30. Rest of Europe Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 31. Rest of Europe Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 32. Rest of Europe Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 33. Asia Pacific Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 34. Asia Pacific Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 35. Asia Pacific Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 36. China Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 37. China Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 38. China Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 39. Japan Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 40. Japan Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 41. Japan Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 42. India Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 43. India Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 44. India Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 45. South Korea Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 46. South Korea Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 47. South Korea Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 48. South-East Asia Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 49. South-East Asia Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 50. South-East Asia Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 51. Rest of Asia Pacific Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 52. Rest of Asia Pacific Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 53. Rest of Asia Pacific Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 54. Latin America Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 55. Latin America Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 56. Latin America Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 57. Brazil Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 58. Brazil Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 59. Brazil Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 60. Mexico Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 61. Mexico Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 62. Mexico Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 63. Rest of Latin America Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 64. Rest of Latin America Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 65. Rest of Latin America Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 66. The Middle-East and Africa Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 67. The Middle-East and Africa Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 68. The Middle-East and Africa Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 69. GCC Countries Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 70. GCC Countries Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 71. GCC Countries Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 72. South Africa Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 73. South Africa Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 74. South Africa Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 75. Rest of Middle-East Africa Electric Traction Motor Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 76. Rest of Middle-East Africa Electric Traction Motor Market revenue, By Power Rating, 2022 – 2030 (USD Billion)
  • 77. Rest of Middle-East Africa Electric Traction Motor Market revenue, By Application, 2022 – 2030 (USD Billion)

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2028
  • Market revenue estimates and forecasts up to 2028, by technology
  • Market revenue estimates and forecasts up to 2028, by application
  • Market revenue estimates and forecasts up to 2028, by type
  • Market revenue estimates and forecasts up to 2028, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

List of the prominent players in the Global Electric Traction Motor Market:

  • Siemens AG
  • NIDEC Corporation
  • CRRC
  • Skoda Electric
  • CG Power
  • GE
  • Bosch
  • Alstom

FAQs

“Asia Pacific” region will lead the global Electric Traction Motor market during the forecast period 2022 to 2030.

The key factors driving the market are Governments’ Stringent Regulations for Pollution Control and the Surging Demand for Electric Vehicles.

The key players operating in the Electric Traction Motor market are Siemens AG, NIDEC Corporation, CRRC, Skoda Electric, CG Power, GE, Bosch, Alstom.

The global Electric Traction Motor market is expanding growth with a CAGR of approximately 13% during the forecast period (2022 to 2030).

The global Electric Traction Motor market size was valued at USD 12 billion in 2021 and it is projected to reach around USD 24 billion by 2030.

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