Market Overview:
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 CAGR of 4.30% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Railway traction motors are electric motors generating power for rotating wheels of the train. They have a sealed structure, which prevents dust intrusion and requires less maintenance, and improved accessory devices like cooling fans that help keep noise levels low. They are highly reliable due to the integration of the stator using high-frequency heating. As a result, railway traction motors find extensive applications in electric multiple units (EMU) and diesel, electric, and diesel-electric locomotives across the globe.
Railway Traction Motor Market Trends:
At present, there is a rise in the expansion of the railway network around the world, which assists in transporting goods and products across longer distances compared to roadways. This represents one of the key factors driving the market. Moreover, there are various benefits of traction motors, which include compact design, power efficiency, and durability. This, coupled with different initiatives undertaken by governments of numerous countries to promote the usage of electric motors, is stimulating the growth of the market. In addition, there is an increase in the electrification of railway networks and the conversion of conventional diesel locomotives into electric locomotives. In line with this, the rising installation of high-capacity lithium-ion batteries in rolling stock and using them in traction power is offering lucrative growth opportunities to industry investors and key market players. These players are extensively investing in research and development (R&D) activities for enhancing railway systems, which is enabling them to bolster their overall sales and increase profitability. Besides this, rising investments in electric vehicles (EVs) and the growing need to reduce carbon emissions worldwide are other factors catalyzing the demand for railway traction motors.
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 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
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and VEM Group.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Billion |
| Segment Coverage |
Type, Application Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
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. and VEM Group. |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global railway traction motor market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global railway traction motor market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global railway traction motor market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Railway Traction Motor Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 DC Traction Motor
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 AC Traction Motor
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Synchronous AC Traction Motor
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Application
7.1 Diesel Locomotive
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Electric Multiple Units
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Electric Locomotives
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Diesel-Electric Locomotives
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 ABB Ltd
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Financials
13.3.1.4 SWOT Analysis
13.3.2 Alstom SA
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Financials
13.3.2.4 SWOT Analysis
13.3.3 CG Power and Industrial Solutions Limited (Murugappa Group)
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.3.3 Financials
13.3.3.4 SWOT Analysis
13.3.4 Hitachi Ltd.
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.4.3 Financials
13.3.4.4 SWOT Analysis
13.3.5 Hyundai Motor Company
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.5.3 Financials
13.3.5.4 SWOT Analysis
13.3.6 Mitsubishi Electric Corporation
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.6.3 Financials
13.3.6.4 SWOT Analysis
13.3.7 Saini Group
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.8 Siemens Aktiengesellschaft
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.8.3 Financials
13.3.8.4 SWOT Analysis
13.3.9 Sulzer Ltd.
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.9.3 Financials
13.3.10 VEM Group
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
List of Figures
Figure 1: Global: Railway Traction Motor Market: Major Drivers and Challenges
Figure 2: Global: Railway Traction Motor Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Railway Traction Motor Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Railway Traction Motor Market: Breakup by Type (in %), 2021
Figure 5: Global: Railway Traction Motor Market: Breakup by Application (in %), 2021
Figure 6: Global: Railway Traction Motor Market: Breakup by Region (in %), 2021
Figure 7: Global: Railway Traction Motor (DC Traction Motor) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Railway Traction Motor (DC Traction Motor) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Railway Traction Motor (AC Traction Motor) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Railway Traction Motor (AC Traction Motor) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Railway Traction Motor (Synchronous AC Traction Motor) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Railway Traction Motor (Synchronous AC Traction Motor) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Railway Traction Motor (Diesel Locomotive) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Railway Traction Motor (Diesel Locomotive) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Railway Traction Motor (Electric Multiple Units) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Railway Traction Motor (Electric Multiple Units) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Railway Traction Motor (Electric Locomotives) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Railway Traction Motor (Electric Locomotives) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Railway Traction Motor (Diesel-Electric Locomotives) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Railway Traction Motor (Diesel-Electric Locomotives) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: North America: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: North America: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: United States: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: United States: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Canada: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Canada: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Asia-Pacific: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Asia-Pacific: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: China: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: China: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Japan: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Japan: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: India: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: India: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: South Korea: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: South Korea: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Australia: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Australia: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Indonesia: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Indonesia: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Others: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Others: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Europe: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Europe: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Germany: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Germany: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: France: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: France: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: United Kingdom: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: United Kingdom: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Italy: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Italy: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Spain: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Spain: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Russia: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Russia: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Others: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Others: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Latin America: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Latin America: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Brazil: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Brazil: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Mexico: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Mexico: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Others: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Others: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Middle East and Africa: Railway Traction Motor Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Middle East and Africa: Railway Traction Motor Market: Breakup by Country (in %), 2021
Figure 69: Middle East and Africa: Railway Traction Motor Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Global: Railway Traction Motor Industry: SWOT Analysis
Figure 71: Global: Railway Traction Motor Industry: Value Chain Analysis
Figure 72: Global: Railway Traction Motor Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Railway Traction Motor Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Railway Traction Motor Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Railway Traction Motor Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Railway Traction Motor Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Railway Traction Motor Market: Competitive Structure
Table 6: Global: Railway Traction Motor Market: Key Players