Railway Traction Motors Market
Railway Traction Motors Market By Type (DC Motors, AC Motors, Synchronous AC Motors) By Application (Diesel Locomotives, Diesel-Electric Locomotives, Electric Locomotives, Electric Multiple Units (EMUs)) & Region - Global Market Insights 2022 to 2032
Analysis of Railway Traction Motors Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Railway Traction Motors Market Outlook (2022 to 2032)
The global railway traction motors market is valued at US$ 11 billion in 2022 and is estimated to reach US$ 17 billion by 2032, expanding at a CAGR of 4.4% from 2022 to 2032 (forecast period).
Railway traction motors are electric motors that generate power for a train's rotating wheels. They have a sealed structure that prevents dust penetration and necessitates less upkeep and are better accessory devices, such as cooling fans to reduce noise. Railway traction motors are extremely reliable since the stator is integrated using high-frequency heating. As a result, these motors are widely used in electric, diesel-electric locomotives, and electric multiple units (EMUs) all over the world.
Due to their great weight and lengthy service life, railway coaches need engines that are robust, durable, and capable of sustaining significant mechanical force. Railway traction motors offer the much-needed power required for the proper operation of the railway coach.
Currently, there is an increase in the expansion of the railway network globally, which aids in the transportation of products and commodities across longer distances than roadways. This is one of the primary reasons driving the demand for railway traction motors.
Traction motors have several advantages, including a small design, high power efficiency, and long life. This, combined with various measures taken by governments of various nations to promote the use of electric motors, is encouraging the growth of the railway traction motors market.
Moreover, the electrification of railway networks and the conversion of traditional diesel locomotives to electric locomotives are increasing.
Furthermore, the rising use of high-capacity lithium-ion batteries in rolling stock and traction power is providing lucrative growth prospects for key market participants. These participants are heavily spending on research and development (R&D) initiatives to improve railway systems, allowing them to grow overall sales and profitability.
In addition, increasing investment in electric vehicles and the rising need to cut carbon emissions globally are driving demand for EV traction motors and railway traction motors. Electric vehicles are gaining massive popularity due to growing worries over GHG emissions.
Several governments and authorities throughout the world are encouraging e-mobility to reduce carbon emissions and reliance on internal combustion engines. Electric vehicles not only promote cleaner e-transportation, but they also serve to reduce the need for fossil fuels.
Moreover, emerging nations are showing interest in establishing mass transit transportation systems like metros. The development of metros is projected to fuel demand for railway traction motors.
Key manufacturers of railway traction motors are concentrating on the creation of more effective electric traction motors to maintain market competitiveness.
| Report Attributes | Details |
|---|---|
| Railway Traction Motors Market Size (2022) | US$ 11 Billion |
| Projected Market Value (2032) | US$ 17 Billion |
| Global Market Growth Rate (2022-2032) | 4.4% CAGR |
| Asia Pacific Market Share (2021) | 48% |
| Market Share of AC Motors (2021) | 45.2% |
| Key Companies Profiled | Mitsubishi Electric Corporation; ABB Ltd; ALSTOM Holdings SA; Caterpillar Inc.; Bharat Heavy Electricals Limited; Bombardier Inc; Saini Group; Siemens AG; Sulzer Ltd; Traktionssysteme Austria GmbH; Toshiba International Corporation. |
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Why is Demand for Railway Traction Motors Intensifying?
“Superior Performance of Traction Motors in Railways”
The railway is a favored and more cost-effective option for the mass movement of commodities and products across greater distances. Moreover, technological improvements have enhanced the performance of railway engines and motors in terms of safety and speed.
Traction motors' various advantages, such as power efficiency, compact design, and durability, promote their usage in railways. As a result, traction motors have become an important component in railways.
Traction motors allow for the easy delivery of power to the locomotive wheels, culminating in the railways' initial slow motion. Then, to obtain more speed, more power is used. Consequently, the safety of the cargo and the crew and passengers onboard the locomotive are not endangered, ensuring the safe delivery of the products.
Moreover, the lowered noise, vibration reduction at increased torque, and seamless acceleration and deceleration of the traction motors mitigate damage during the performance. Thus, the superior performance of traction motors in railways is likely to boost the market for railway traction motors.
“Advent of Battery-Electric Locomotives”
The battery-electric locomotive does not require the use of fossil fuels to create power, hence avoiding direct emissions, exhaust gases, fuel storage, and noise. Developments in battery technology have prompted investment in the creation of battery-electric locomotives for practical applications.
Japan Transport Engineering Company (J-TREC), Vivarail, CAF, Bombardier, and Hitachi are the current key developers of battery-electric locomotives.
- The world's first battery-electric freight train, called the FLXdrive battery-electric locomotive, was successfully trialed in California in 2021. The train features 500 lithium-ion battery modules, which are intended to reduce fuel usage by 11%.
Such technological breakthroughs are expected to aid the demand for railway traction motors in the next ten years.
What Difficulties Do Traction Motor Manufacturers Face?
“High Initial Development and Deployment Cost of Traction Motors”
Due to the traction motors' compact design, high durability, and reliability, the procedures involved in creating and manufacturing them necessitate cutting-edge equipment and technology.
Moreover, optimizing and customizing these traction motors to perfectly match the application necessitates exceptional technical skills, raising the cost of traction motor production even further.
As a result, the heavy investment costs related to the creation and installation of traction motors pose significant difficulties for manufacturers.
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Country-wise Insights
What Makes Japan and South Korea Major Markets for Railway Traction Motors in Asia Pacific?
Asia Pacific captured 48% of the global market in 2021. The demand for railway traction motors in Asia Pacific is significantly high due to the expansion of transportation infrastructures, such as railway connections, metro rail systems, and high-speed bullet trains.
Moreover, Japan and South Korea are major markets in Asia Pacific due to the increased investment in railway projects, particularly high-speed rail and metro trains.
Which European Country's Market is Expanding Rapidly?
Europe is expected to hold a significant market share as the region makes substantial investments in developing railway technology. The market for railway traction motors in Germany is predicted to expand rapidly during the projection period. Germany is taking steps to increase the number of rail passengers and move more freight to railways by 2030.
What is the Growth Outlook for Railway Traction Motors in the United States and Canada?
The United States is expected to remain a leader in North America during the forecast period. The existence of a large number of manufacturers in the country, as well as their ongoing efforts in producing superior traction motors, has helped the market tremendously. Moreover, large-scale urbanization and growing efforts to electrify passenger railways have also offered major momentum to the adoption of railway traction motors in the United States.
Canada is projected to follow the United States in terms of growth. Canada is also a key market for railway traction motors, but it is currently increasing at a slower rate than the United States. This is due to the country's inadequate electrification of rail networks.
Nevertheless, increased passenger traffic on Canadian rail services has compelled railroad firms to invest in new railway equipment, such as railway traction motors. This is expected to help the Canadian market maintain a stable pace over the decade.
Category-wise Insights
Why are AC Motors Most Widely Deployed?
Railway traction motors are classified into three types: DC motors, AC motors, and synchronous AC motors. In 2021, AC motors accounted for 45.2% of the worldwide market.
AC motors are the most popular type. AC motors have several advantages, including the fact that they are simple to manufacture and are lighter when compared to DC motors for an equivalent amount of power. Moreover, AC motors are more durable and easier to maintain than DC motors.
AC motors can be created and built for application-specific machinery and automotive based on the motors utilized for traction, such as induction or asynchronous. In the current scenario, AC motors are most extensively employed in applications such as railways, electric vehicles, industrial machines, and conveyors.
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Competitive Landscape
In recent years, the global railway traction motors market has witnessed numerous notable developments. Furthermore, key market players are expanding their market presence through a variety of growth methods such as strategic investments, new product launches, mergers and acquisitions, and alliances.
- Mahle released a new electric traction motor in July 2022 that can be utilized in the railway sector.
- ABB stated in April 2022 that they are building a traction motor manufacturing unit for rail and metro in India. The unit will be able to generate 1,500 traction motors per year.
- Parker-Hannifin released a new high-power, GVM310 permanent magnet AC motor with a 310 mm frame in December 2021.
- Mercedes-Benz acquired YASA Motors Ltd., a forerunner in next-generation electric powertrain technologies, in July 2021. According to the terms of the acquisition, YASA will operate its own Mercedes-Benz subsidiary, which will produce high-performance electric motors.
Key Segments of Railway Traction Motors Industry Research
-
By Type:
- DC Motors
- AC Motors
- Synchronous AC Motors
-
By Application:
- Diesel Locomotives
- Diesel-Electric Locomotives
- Electric Locomotives
- Electric Multiple Units (EMUs)
-
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Key Success Factors
- 5. Market Background
- 6. Global Market Volume (Units) Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 7. Global Market - Pricing Analysis
- 8. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Type
- 9.1. DC Motors
- 9.2. AC Motors
- 9.3. Synchronous AC Motors
- 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Application
- 10.1. Diesel Locomotives
- 10.2. Diesel-Electric Locomotives
- 10.3. Electric Locomotives
- 10.4. Electric Multiple Units (EMUs)
- 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. East Asia
- 11.5. South Asia
- 11.6. Oceania
- 11.7. Middle East and Africa (MEA)
- 12. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 13. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 14. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 15. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 17. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 18. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 19. Key and Emerging Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 20. Market Structure Analysis
- 21. Competition Analysis
- 21.1. Mitsubishi Electric Corporation
- 21.2. ABB Ltd
- 21.3. ALSTOM Holdings SA
- 21.4. Caterpillar Inc.
- 21.5. Bharat Heavy Electricals Limited
- 21.6. Bombardier Inc
- 21.7. Saini Group
- 21.8. Siemens AG
- 21.9. Sulzer Ltd
- 21.10. Traktionssysteme Austria GmbH
- 21.11. Toshiba International Corporation
- 22. Assumptions and Acronyms Used
- 23. Research Methodology
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List Of Table
Table 01: Global Market Volume (‘000 Units) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 02: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 03: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 04: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Region
Table 05: North America Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 06: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 07: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 08: Latin America Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 09: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 10: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 11: Europe Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 12: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 13: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 14: South Asia Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 15: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 16: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 17: East Asia Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 18: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 19: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 20: Oceania Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 21: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 22: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 23: Middle East and Africa Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 24: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 25: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
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List Of Figures
Figure 01: Global Market Volume (in 000' Units) Analysis, 2017 to 2021
Figure 02: Global Market Volume Forecast (in 000' Units), 2022 to 2032
Figure 03: Pricing Analysis (US$) Per Type, By Region, 2021
Figure 04: Pricing Analysis (US$) Per Type, By Region, 2021
Figure 05: Global Market Value Analysis (US$ Mn), 2017 to 2021
Figure 06: Global Market Value Forecast (US$ Mn), 2022 to 2032
Figure 07: Global Market Absolute $ Opportunity, 2022 to 2032
Figure 08: Global Market Share Analysis (%), By Type, 2022 to 2032
Figure 09: Global Market Y-o-Y Analysis (%), By Type, 2022 to 2032
Figure 10: Global Market Attractiveness Analysis by Type, 2022 to 2032
Figure 11: Global Market Share Analysis (%), By Application, 2022 to 2032
Figure 12: Global Market Y-o-Y Analysis (%), By Application, 2022 to 2032
Figure 13: Global Market Attractiveness Analysis by Application, 2022 to 2032
Figure 14: Global Market Share Analysis (%), By Region, 2022 to 2032
Figure 15: Global Market Y-o-Y Analysis (%), By Region, 2022 to 2032
Figure 16: Global Market Attractiveness Analysis by Region, 2022 to 2032
Figure 17: North America Market Value Share, By Type, 2022 (E)
Figure 18: North America Market Value Share, By Application, 2022 (E)
Figure 19: North America Market Value Share, By Country, 2022 (E)
Figure 20: North America Market Value Analysis (US$ Mn), 2017 to 2021
Figure 21: North America Market Value Forecast (US$ Mn), 2022 to 2032
Figure 22: North America Market Attractiveness Analysis by Type, 2022 to 2032
Figure 23: North America Market Attractiveness Analysis by Application, 2022 to 2032
Figure 24: North America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 25: Latin America Market Value Share, By Type, 2022 (E)
Figure 26: Latin America Market Value Share, By Application, 2022 (E)
Figure 27: Latin America Market Value Share, By Country, 2022 (E)
Figure 28: Latin America Market Value Analysis (US$ Mn), 2017 to 2021
Figure 29: Latin America Market Value Forecast (US$ Mn), 2022 to 2032
Figure 30: Latin America Market Attractiveness Analysis by Type, 2022 to 2032
Figure 31: Latin America Market Attractiveness Analysis by Application, 2022 to 2032
Figure 32: Latin America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 33: Europe Market Value Share, By Type, 2022 (E)
Figure 34: Europe Market Value Share, By Application, 2022 (E)
Figure 35: Europe Market Value Share, By Country, 2022 (E)
Figure 36: Europe Market Value Analysis (US$ Mn), 2017 to 2021
Figure 37: Europe Market Value Forecast (US$ Mn), 2022 to 2032
Figure 38: Europe Market Attractiveness Analysis by Type, 2022 to 2032
Figure 39: Europe Market Attractiveness Analysis by Application, 2022 to 2032
Figure 40: Europe Market Attractiveness Analysis by Country, 2022 to 2032
Figure 41: South Asia Market Value Share, By Type, 2022 (E)
Figure 42: South Asia Market Value Share, By Application, 2022 (E)
Figure 43: South Asia Market Value Share, By Country, 2022 (E)
Figure 44: South Asia Market Value Analysis (US$ Mn), 2017 to 2021
Figure 45: South Asia Market Value Forecast (US$ Mn), 2022 to 2032
Figure 46: South Asia Market Attractiveness Analysis by Type, 2022 to 2032
Figure 47: South Asia Market Attractiveness Analysis by Application, 2022 to 2032
Figure 48: South Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 49: East Asia Market Value Share, By Type, 2022 (E)
Figure 50: East Asia Market Value Share, By Application, 2022 (E)
Figure 51: East Asia Market Value Share, By Country, 2022 (E)
Figure 52: East Asia Market Value Analysis (US$ Mn), 2017 to 2021
Figure 53: East Asia Market Value Forecast (US$ Mn), 2022 to 2032
Figure 54: East Asia Market Attractiveness Analysis by Type, 2022 to 2032
Figure 55: East Asia Market Attractiveness Analysis by Application, 2022 to 2032
Figure 56: East Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 57: Oceania Market Value Share, By Type, 2022 (E)
Figure 58: Oceania Market Value Share, By Application, 2022 (E)
Figure 59: Oceania Market Value Share, By Country, 2022 (E)
Figure 60: Oceania Market Value Analysis (US$ Mn), 2017 to 2021
Figure 61: Oceania Market Value Forecast (US$ Mn), 2022 to 2032
Figure 62: Oceania Market Attractiveness Analysis by Type, 2022 to 2032
Figure 63: Oceania Market Attractiveness Analysis by Application, 2022 to 2032
Figure 64: Oceania Market Attractiveness Analysis by Country, 2022 to 2032
Figure 65: Middle East and Africa Market Value Share, By Type, 2022 (E)
Figure 66: Middle East and Africa Market Value Share, By Application, 2022 (E)
Figure 67: Middle East and Africa Market Value Share, By Country, 2022 (E)
Figure 68: Middle East and Africa Market Value Analysis (US$ Mn), 2017 to 2021
Figure 69: Middle East and Africa Market Value Forecast (US$ Mn), 2022 to 2032
Figure 70: Middle East and Africa Market Attractiveness Analysis by Type, 2022 to 2032
Figure 71: Middle East and Africa Market Attractiveness Analysis by Application, 2022 to 2032
Figure 72: Middle East and Africa Market Attractiveness Analysis by Country, 2022 to 2032
Figure 73: U. S. Market Value Analysis (US$ Mn), 2022 & 2032
Figure 74: U. S. Market Value Share, By Type, 2022 (E)
Figure 75: U. S. Market Value Share, By Application, 2022 (E)
Figure 76: Canada Market Value Analysis (US$ Mn), 2022 & 2032
Figure 77: Canada Market Value Share, By Type, 2022 (E)
Figure 78: Canada Market Value Share, By Application, 2022 (E)
Figure 79: Mexico Market Value Analysis (US$ Mn), 2022 & 2032
Figure 80: Mexico Market Value Share, By Type, 2022 (E)
Figure 81: Mexico Market Value Share, By Application, 2022 (E)
Figure 82: Brazil Market Value Analysis (US$ Mn), 2022 & 2032
Figure 83: Brazil Market Value Share, By Type, 2022 (E)
Figure 84: Brazil Market Value Share, By Application, 2022 (E)
Figure 85: U. K. Market Value Analysis (US$ Mn), 2022 & 2032
Figure 86: U. K. Market Value Share, By Type, 2022 (E)
Figure 87: U. K. Market Value Share, By Application, 2022 (E)
Figure 88: Germany Market Value Analysis (US$ Mn), 2022 & 2032
Figure 89: Germany Market Value Share, By Type, 2022 (E)
Figure 90: Germany Market Value Share, By Application, 2022 (E)
Figure 91: France Market Value Analysis (US$ Mn), 2022 & 2032
Figure 92: France Market Value Share, By Type, 2022 (E)
Figure 93: France Market Value Share, By Application, 2022 (E)
Figure 94: Italy Market Value Analysis (US$ Mn), 2022 & 2032
Figure 95: Italy Market Value Share, By Type, 2022 (E)
Figure 96: Italy Market Value Share, By Application, 2022 (E)
Figure 97: Spain Market Value Analysis (US$ Mn), 2022 & 2032
Figure 98: Spain Market Value Share, By Type, 2022 (E)
Figure 99: Spain Market Value Share, By Application, 2022 (E)
Figure 100: Russia Market Value Analysis (US$ Mn), 2022 & 2032
Figure 101: Russia Market Value Share, By Type, 2022 (E)
Figure 102: Russia Market Value Share, By Application, 2022 (E)
Figure 103: China Market Value Analysis (US$ Mn), 2022 & 2032
Figure 104: China Market Value Share, By Type, 2022 (E)
Figure 105: China Market Value Share, By Application, 2022 (E)
Figure 106: Japan Market Value Analysis (US$ Mn), 2022 & 2032
Figure 107: Japan Market Value Share, By Type, 2022 (E)
Figure 108: Japan Market Value Share, By Application, 2022 (E)
Figure 109: South Korea Market Value Analysis (US$ Mn), 2022 & 2032
Figure 110: South Korea Market Value Share, By Type, 2022 (E)
Figure 111: South Korea Market Value Share, By Application, 2022 (E)
Figure 112: India Market Value Analysis (US$ Mn), 2022 & 2032
Figure 113: India Market Value Share, By Type, 2022 (E)
Figure 114: India Market Value Share, By Application, 2022 (E)
Figure 115: ASEAN Market Value Analysis (US$ Mn), 2022 & 2032
Figure 116: ASEAN Market Value Share, By Type, 2022 (E)
Figure 117: ASEAN Market Value Share, By Application, 2022 (E)
Figure 118: Australia Market Value Analysis (US$ Mn), 2022 & 2032
Figure 119: Australia Market Value Share, By Type, 2022 (E)
Figure 120: Australia Market Value Share, By Application, 2022 (E)
Figure 121: New Zealand Market Value Analysis (US$ Mn), 2022 & 2032
Figure 122: New Zealand Market Value Share, By Type, 2022 (E)
Figure 123: New Zealand Market Value Share, By Application, 2022 (E)
Figure 124: GCC Countries Market Value Analysis (US$ Mn), 2022 & 2032
Figure 125: GCC Countries Market Value Share, By Type, 2022 (E)
Figure 126: GCC Countries Market Value Share, By Application, 2022 (E)
Figure 127: Turkey Market Value Analysis (US$ Mn), 2022 & 2032
Figure 128: Turkey Market Value Share, By Type, 2022 (E)
Figure 129: Turkey Market Value Share, By Application, 2022 (E)
Figure 130: South Africa Market Value Analysis (US$ Mn), 2022 & 2032
Figure 131: South Africa Market Value Share, By Type, 2022 (E)
Figure 132: South Africa Market Value Share, By Application, 2022 (E)
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Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the global railway traction motors market size?
The global railway traction motors market is valued at US$ 11 billion in 2022.
What is the predicted market size for 2032?
Global demand for railway traction motors is estimated to reach US$ 17 billion by 2032.
What is the projected growth rate for the railway traction motors market?
The global market for railway traction motors is projected to expand at a CAGR of 4.4% from 2022 to 2032.
What was Asia Pacific's market share in 2021?
Asia Pacific captured 48% share of the railway traction motors market in 2021.
Which type of railway traction motor held the largest market share in 2021?
AC motors accounted for the largest market share of 45.2% in 2021.
What are the primary factors driving demand for railway traction motors?
Increasing adoption of metros and monorails and rapid transition to railway electrification systems are primary factors driving market expansion.
Who are the top manufacturers of railway traction motors?
Mitsubishi Electric Corporation, ABB Ltd, ALSTOM Holdings SA, Caterpillar Inc., Bharat Heavy Electricals Limited, Bombardier Inc., Saini Group, Siemens AG, Sulzer Ltd., Traktionssysteme Austria GmbH, and Toshiba International Corporation are key manufactu
Railway Traction Motors Market