Railway Traction Motor Market 2022 | Top Companies Overview, Regional Analysis, Revenue, CAGR Growth & Forecast by 2027

The global railway traction motor market size reached US$ 6.53 Billion in 2021. By 2027, It will reach US$ 8.49 Bn, exhibiting a CAGR of 4.30% during 2022-2027.

SHERIDAN, WYOMING, UNITED STATES, November 29, 2022 /EINPresswire.com/ -- The latest research study “Railway Traction Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global railway traction motor market reached a value of US$ 6.53 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 8.49 Billion by 2027, exhibiting a growth rate (CAGR) of 4.30% during 2022-2027.

What is railway traction motor?

A railway traction motor refers to an electric motor that generates power for rotating wheels of the train. It has a sealed structure, which prevents dust intrusion and requires less maintenance. In line with this, a railway traction motor comprises of improved accessory devices, such as cooling fans, that help in keeping noise levels low. It is highly reliable, owing to the integration of the stator using high-frequency heating. Consequently, a railway traction motor finds extensive applications in electric multiple units (EMU) as well as electric and diesel-electric locomotives across countries.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Click here to view detailed information with table of content: https://www.imarcgroup.com/railway-traction-motor-market/requestsample

What is the major drivers for the railway traction motor market?

The widespread product adoption, owing to their various benefits, including compact design, power efficiency, durability, etc., is primarily driving the railway traction motor market. Additionally, the launch of several favorable policies by government bodies to promote the utilization of electric motors is further catalyzing the market growth.

Besides this, the expanding railway network that aids in transporting goods and items over longer distances as compared to roadways is positively influencing the global market. Moreover, the growing electrification of railway networks and the escalating demand for high-capacity lithium-ion batteries in rolling stock are acting as significant growth-inducing factors. Apart from this, the increasing investments in electric vehicles (EVs) and the inflating need for minimizing carbon emissions are anticipated to fuel the railway traction motor market over the forecasted period.

Click here to view detailed information with table of content: https://www.imarcgroup.com/railway-traction-motor-market

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global railway traction motor market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on region, type and application.

Breakup by Type:
• DC Traction Motor
• AC Traction Motor
• Synchronous AC Traction Motor

Breakup by Application:
• Diesel Locomotive
• Electric Multiple Units
• Electric Locomotives
• Diesel-Electric Locomotives

By Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

List of Major Key Players:
• ABB Ltd
• Alstom SA
• CG Power and Industrial Solutions Limited (Murugappa Group)
• Hitachi Ltd.
• Hyundai Motor Company
• Mitsubishi Electric Corporation
• Saini Group
• Siemens Aktiengesellschaft
• Sulzer Ltd.
• VEM Group.

Other Trending Reports By IMARC Group:

Molybdenum Market Report: https://www.einpresswire.com/article/585003413/molybdenum-market-outlook-2022-2027-industry-report-size-share-growth-trends-and-forecast-analysis

In-Dash Navigation System Market: https://www.einpresswire.com/article/585004010/in-dash-navigation-system-market-2022-2027-top-companies-overview-share-size-growth-and-forecast-report

Syringes Market Report: https://www.einpresswire.com/article/585404441/syringes-market-global-report-2022-2027-size-share-growth-opportunities-and-forecast-analysis

SiC Fibers Market Report: https://www.einpresswire.com/article/590321312/sic-fibers-market-expected-to-reach-us-1-118-60-mn-globally-by-2027-at-9-70-cagr-imarc-group

Engineered Wood Market: https://www.einpresswire.com/article/590321624/engineered-wood-market-expected-to-reach-374-1-million-cubic-metres-globally-by-2027-at-6-30-cagr

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Elena Anderson
IMARC Services Private Limited
+1 6317911145
email us here