According to the Market Statsville Group (MSG), the global rail traction motor market the size should go from 33.1 billion USD in 2021 at 47.2 billion USD by 2030at 4.1 CAGR% from 2022 to 2030. Traction motors are AC or DC electric motors that provide power to drive locomotives. In addition, these motors offer high durability and robust performance, thanks to high power and superior mechanical susceptibility to heavy payloads. . Traction motors require high horsepower to deliver the torque required to move wheels, resulting in compact designs, efficient power-to-weight ratios, and efficient cooling of traction motors. Thus, torque motors have minimal torque ripple, reduced noise and vibration, higher efficiency, and effective cooling capabilities through open or forced ventilation.
Decreasing emissions, rising price of materials used for production, low manufacturing and maintenance costs, and high investment costs are the significant factors that would impact the growth of the global organ-on-chip market.
Global Rail Traction Motors Market Definition
A traction motor in railways constitutes an electric motor which converts electrical energy into torque energy and is connected to a shaft, resulting in linear motion. Traction motors are generally used to propel heavy vehicles such as railways, industrial machinery, and locomotives among others due to the heavy weight of the automobile.
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Global Rail Traction Motor Market Dynamics
Drivers: Reduced performance loss
The application of traction motors in railways facilitates the application of power to the wheels of the locomotive, which results in an initial slowdown of the automobile. Then subsequent higher power is applied to achieve greater speed. As a result, the safety of cargo or passengers and crew aboard the locomotive is not compromised, ensuring safe transport of goods. In addition, noise reduction, vibration minimization at higher torque, smooth acceleration and deceleration of traction motors minimize damage during performance. Thus, reducing the performance losses of traction motors is expected to drive the market growth in the coming years.
Constraints: High investment cost
Due to the high durability, compact design and reliability of traction motors, the processes involved in designing as well as manufacturing traction motors require advanced technology and equipment. Additionally, optimizing and customizing these traction motors to better suit the application requires superior technical expertise, which further increases the cost of producing traction motors. Thus, the high capital costs associated with the development and deployment of traction motors are expected to hamper growth.
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Segmentation of the global rail traction motor market
The study categorizes the Railway Traction Motors market on the basis of technique and type at regional and global level.
By Technical Insights (Sales, million USD, 2017–2030)
- DC traction motor
- AC traction motor
- Synchronous AC traction motor
By Outlook type (Sales, million USD, 2017–2030)
- diesel engine
- Electric multiple unit
- electric locomotive
- Diesel electric locomotive
Outlook by region (Sales, million USD, 2017–2030)
- North America
- The Netherlands
- Czech Republic
- The rest of Europe
- Asia Pacific
- South Korea
- Australia and New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- North Africa
- Rest of MEA
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The segment of AC traction motors is expected to account for the largest market share, by technique
On the basis of technique, the global railway traction motor market is divided into DC traction motor, AC traction motor and AC synchronous traction motor. In 2021, AC traction motor held the largest market share of 45.2% in the global rail traction motor market. The development of high power and superior electronic equipment and devices has led to the production of AC traction motors capable of operating at varying frequencies. AC traction motors convert the output of the alternator to DC and then back to variable frequency variable AC, powering the AC traction motors and providing superior grip between wheels and tracks. Based on motors used for traction such as asynchronous or induction motors, it can be designed and manufactured for application specific machinery and automotive. The torque applied to the motors and therefore the speed of the automobile is controlled by the variable frequency used to power the traction motors.
Europe represents the highest CAGR over the forecast period
Geographically, the market is segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa. Globally, Europe is estimated to be the fastest growing region with a CAGR of 11.8% over the forecast period. After Europe, North America is the fastest growing region over the projected period. In North America, the United States held the largest market share in the rail traction motor market. While Mexico is the fastest growing country in the rail traction motor market. Transportation needs from ports to warehouses and the demand for electric locomotives are expected to drive the demand for traction motor market in North America in the future.
Key Market Players in Global Rail Traction Motors Market
Leading companies in the global rail traction motor market are expected to witness considerable growth, especially in Asia-Pacific owing to the high demand for technological advancement. Key Players of the Global Rail Traction Motors Market are:
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