Railway Industry’s Development to Significantly Influence the Global Traction Motor Market Growth
According to Inkwood Research, the Global Traction Motor Market is projected to record a CAGR of 14.55% in terms of revenue during the forecasting years of 2021-2028.
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A traction motor is characterized by an electric motor,
which transforms electrical energy into torque energy. It is attached to a
shaft, thereby leading to linear motion. These motors are typically used to
reinforce heavy vehicles, such as, industrial machinery, locomotives, and
railways, given the heavyweight of the automotive.
Development
in the Railway Industry fuels Market Growth
When compared to roadways, railways are more economical and
the preferred choice for mass transportation of products and goods for long
distances. The performance of railway engines as well as motors has augmented
over recent years, in terms of the locomotive’s safety and speed, primarily due
to technological advancements.
Additionally, diverse advantages of traction motors, such
as, power efficiency, compact design, durability, and reduced maintenance
expenses, facilitate their adoption into the railway industry. As a result,
traction motors are a substantial component in railway locomotives.
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200-400 kW
to be the Fastest-Growing Power Rating
Traction motors with a power rating between 200-400 kW are
specially designed for heavy-duty to light-duty vehicles to execute operations
efficiently. Such motors are better, in terms of operation, and consume lesser
energy without impacting the vehicle’s propulsion and processes. 200-400 kW
traction motors’ wide range of applications includes golf cars and ocean liners,
with the latter requiring more robust motors to continue their operations.
Moreover, they also observe vast applications across medium to heavy
locomotives and electric trucks, owing to the need for a stronger propulsion
system. Hence, with the advancements in railway and vehicular industries,
globally, the demand for 200-400 kW motors observes an increase, as well.
Asia
Pacific to Lead the Global Market by 2028
The rapidly developing industrial sector, incorporated with
the increased demand from businesses and the surging population base, is
anticipated to drive the market in the Asia Pacific. Moreover, emerging
economies like Vietnam, Thailand, Indonesia, and India, are projected to depict
lucrative and promising trends, during the forecast period. The presence of
well-established firms, such as, Hyundai, Toshiba, and Hitachi, and their
diversified product ranges, further help propel the region’s market growth.
On the other hand, key market players have significantly
intensified the industrial rivalry, within the global traction motor market.
Besides, they also leverage the opportunity, in order to augment their
geographical presence by citing emerging economies as major business arenas.
Leading companies operating in the global market include, Mitsubishi Electric,
Ametek, ABB, Siemens, Eaton, etc.
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Research
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research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises of North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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