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Electric Traction Motor Market Size worth $22.2 Billion by 2027

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Electric Traction Motor Market Size worth $22.2 Billion by 2027

August 08
22:04 2022
Electric Traction Motor Market Size worth $22.2 Billion by 2027
Browse 197 market data Tables and 48 Figures spread through 190 Pages and in-depth TOC on “Electric Traction Motor Market by Type (AC and DC), Power Rating (Below 200 kW, 200-400 kW, and Above 400 kW), Application (Railways, Electric Vehicles, Elevators, Conveyors, and Industrial Machinery) and Region – Global Forecast to 2027”
The global electric traction motor market is projected to reach USD 22.2 billion by 2027 from an estimated market size of USD 12.3 billion in 2022, at a CAGR of 12.6% during the forecast period.

Electric Traction Motor Market size is projected to reach USD 22.2 billion by 2027 from an estimated market size of USD 12.3 billion in 2022, at a CAGR of 12.6% during the forecast period, according to a new report by MarketsandMarkets™. The increase in demand for high-performance motors, favorable government policies and subsidies, and the rise in investments in the railway sector are likely to drive the market growth.

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The AC segment is expected to be the fastest growing segment, by type, during the forecast period

The AC electric traction motor segment is expected to be the fastest growing segment by type for electric traction motors during the forecast period. AC electric traction motors are simple to construct and do not require any additional mechanical contacts such as brushes to work. They are more efficient and less expensive to manufacture. Therefore, the demand for AC electric traction motors is likely to increase in the market during the forecast period.

Below 200 kW is expected to be the fastest growing segment in the Electric Traction Motor Market, by power rating, during forecast period

By Power rating, below 200 kW segment is expected to dominate the Electric Traction Motor Market from 2022 to 2027. The rising investment in electric vehicles is one of the major factors driving the growth of this segment. Electric vehicles that use these motors include Plug-In Hybrid Vehicles (PHEVs), Hybrid Electric Vehicles (HEVs), Battery Electric Vehicles (BEVs), electric two wheelers, and electric buses.

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Asia Pacific: Projected to be the largest market for electric traction motors during the forecast period

Asia Pacific is projected to have largest market across the global for electric traction motor during forecast period from 2022 to 2027. Rising investments in electric vehicles and rolling stock is the key factor driving the Electric Traction Motor Market in Asia Pacific.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Electric Traction Motor Market. These players include Siemens Energy ABB (Switzerland), Mitsubishi Electric Corporation (Japan), TOSHIBA CORPORATION (Japan), General Electric (US), and Siemens (Germany).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra

MarketsandMarkets™ INC.

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Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/electric-traction-motor-market-248269129.html