Railway Traction Motor Market - By Type (Direct Current Traction Motor, Alternating Current Traction Motor and Synchronous Alternating Current Traction Motor), By Application (Diesel Locomotive, Electric Multiple Units, Electric Locomotives and Diesel Electric Locomotives), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Railway Traction Motors Market accounted approximate USD 31.5 billion in 2020 and it is expected to reach USD 47.1 billion by 2030 with a CAGR of 4.1% during the forecast period. Traction motor is electric motor, which is used to make rotation torque on a machine and propulsion of vehicle. Additionally, it provide superior torque for railway coaches, as railway owing to their large weight and long service generally requires motors that are robust, durable and capable to sustain the high mechanical force. As a result railway traction motors provide the much needed power requirement for the efficient functioning. Moreover, the railway traction motors provides high starting acceleration and it is more efficient than steam locomotives. Additionally, it protects railway engines from the risk of overload and breakdowns.

Market Segmentation:

On the basis of type, railway traction motors are segmented into direct current traction motors, alternating current traction motors, and synchronous alternating current traction motors. According to research study, the synchronous alternating current traction motors segment is anticipated to highest growth with CAGR of 5.1%, and expected to reach USD 8.61 billion during forecast period. Based on application, it is classified into diesel locomotive, electric multiple units, electric locomotives and diesel electric locomotives. Electric locomotives segment is expected to reach USD 3.7 billion and anticipated to highest growth with CAGR of 5.9% during the forecast period. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Market Dynamics and Factors:

Owing to the railroad technologies market is expected to experience lucrative growth during the forecast period.  Electrification of rail routes and adoption of monorails and metros is driving the market. Moreover, government investment to improve transportation facilities, technological advancement and environmental concern are driving the growth of market. However, the major restraint factor for railway traction motor is high investment cost involved in designing and manufacturing them. Additionally, delay in the development and execution of railway projects hinder the growth of market. Increasing demand for rail logistics owing to rising trade activities can be the opportunity for market during forecast period.

Geographic Analysis:

Europe is anticipated to hold major share of market as the region makes massive investments to further advance its railway technology. Due to its growth in railway electrification system, modernization of railcars and introduction of environment friendly technologies in the region are expected to boost the market. According to research study, in the European region Spain will grow at the highest CAGR of 5.8% during forecast period. Moreover, market growth in APAC region is undergoing significant growth due to investment made in the development of existing railway infrastructure. According to study, over the past decade, investment in development of railway’s infrastructure has increased from 10% to 30 %.  Additionally, among the APAC region South Korea would grow at the highest CAGR of 3.5% during the forecast period.

Competitive Scenario:

Some of the key players in global railway traction motor market are Mitsubishi Electric Corporation, Aisin Seiki Co.Ltd., Sulzer ltd., Saini group, Hyundai rotem Company (public), Siemens AG, Alstom SA, Bombardier Inc., ABB Group, Bharat Heavy Electricals ltd. (BHEL).

Railway Traction Motor Market Report Scope