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 1. Market Research
 2. > Transportation
 3. > Rail Transportation Market Trends


GLOBAL RAILWAY TRACTION MOTORS INDUSTRY

 * July 2022
 * 369 pages
 * ID: 5961118
 * Format: PDF
 * Global Industry Analysts



Summary

Table of Contents



Abstract:

What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to our digital archives and MarketGlass Research Platform
- Complimentary updates for one year

Global Railway Traction Motors Market to Reach $11.5 Billion by 2026
- Traction motors are electric motors that are mostly used in vehicle
propulsion. Traction motors are used for the propulsion of electric units,
locomotives, and hydrogen or electric vehicles. The most common uses include
trolleybuses, roller coasters, electric milk floats, conveyors, and elevators.
Electric hybrid vehicles and diesel-electric locomotives and other electrical
transmission systems use traction motors. Conventionally, railway traction
motors ran on 600 volts and were series-wound brushed DC motors. Railway
traction motors market worldwide is a rapidly growing market supported by the
rising adoption of metros and monorails and swift transition towards railway
electrification systems in almost all major regions. Advancements in railroad
technologies coupled with vehicular emissions reforms represent factors
accelerating market growth. Several countries have undertaken vehicular
emissions reforms that call for curbs on a wide range of local transportation
systems. Electrification of rail routes, modernization of railcars, and
availability of eco-friendly technologies will help drive growth over the coming
few years.
- Amid the COVID-19 crisis, the global market for Railway Traction Motors
estimated at US$10.2 Billion in the year 2022, is projected to reach a revised
size of US$11.5 Billion by 2026, growing at a CAGR of 2.9% over the analysis
period. DC Motors, one of the segments analyzed in the report, is projected to
record a 2.9% CAGR and reach US$5.4 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its
induced economic crisis, growth in the AC Motors segment is readjusted to a
revised 2.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.6 Billion in 2022, While China is Forecast to
Reach $2.5 Billion by 2026
- The Railway Traction Motors market in the U.S. is estimated at US$1.6 Billion
in the year 2022. China, the world`s second largest economy, is forecast to
reach a projected market size of US$2.5 Billion by the year 2026 trailing a CAGR
of 4% over the analysis period. Among the other noteworthy geographic markets
are Japan and Canada, each forecast to grow at 2% and 2.2% respectively over the
analysis period. Within Europe, Germany is forecast to grow at approximately
2.4% CAGR. Railway modernization programs, which are currently in progress in
several parts of the world, will be instrumental in future expansion of the
railway sector. IoT-enabled networks, fully digitalized control systems, and
powerful electric locomotives, will evolve to reinforce the functionalities and
capabilities of railway sector in 2021 and beyond. Active roll out of Dedicated
Freight Corridors (EFC) to ensure faster and seamless pickup and delivery of
freight consignments will also pave the way for industry`s expansion. On the
other hand, rising investments on metro rail projects around the world will
accelerate the passenger rail transport and widen the addressable market for all
in the manufacturing supply chain in the post COVID-19 era.

Synchronous AC Motors Segment to Reach $2.5 Billion by 2026
- In the global Synchronous AC Motors segment, USA, Canada, Japan, China and
Europe will drive the 3.7% CAGR estimated for this segment. These regional
markets accounting for a combined market size of US$1.6 Billion will reach a
projected size of US$2 Billion by the close of the analysis period. China will
remain among the fastest growing in this cluster of regional markets. Led by
countries such as Australia, India, and South Korea, the market in Asia-Pacific
is forecast to reach US$422.4 Million by the year 2026, while Latin America will
expand at a 4.1% CAGR through the analysis period. Traction motor systems are
witnessing innovative developments as transit becomes more sustainable.
Worldwide, electrified rail lines are fast increasing encouraging companies to
advance development of voltage, frequency and braking systems. Light rail is
becoming increasingly popular and agencies are seeking reliable electrification
technologies. Permanent magnet synchronous motors along with induction motors
are being used for improving efficiency of rolling stock traction drive systems.
In case of induction motors, the losses are broadly categorized into copper,
iron, mechanical, and stray load losses including harmonic losses.

Select Competitors (Total 26 Featured) -

 * ABB Ltd.
 * ALSTOM Holdings SA
 * Bharat Heavy Electricals Limited
 * Bombardier Inc.
 * Caterpillar Inc.
 * Hyundai Motor Group
 * Mitsubishi Electric Corporation
 * Saini Group
 * Siemens AG
 * Sulzer Ltd.
 * Toshiba International Corporation
 * Traktionssysteme Austria GmbH




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