Global Traction Motor Market

Global Traction Motor Market Overview

• The Global Traction Motor Market Size is Anticipated to Grow from USD 18.07 Billion in 2023 to USD 66.05 Billion by 2033, Growing at a CAGR of 13.84% from 2023 to 2033.
• The market growth is rising due to the demand for electric vehicles (EV) and the manufacturing of high-performance motors.
• Several government initiatives encouraging the use of traction motor along with the growing R&D investments aids in driving the market growth.
• The traction motor market refers to the industry for electric motors used for propelling vehicles, particularly in electric and hybrid vehicles, as well as in railway applications.  

Major vendors in the Global Traction Motor Market 

Schneider Electric SE, The Curtiss-Wright Corporation, Prodrive Technologies, Toshiba Corporation, General Electric Co., CG Power Industrial Solutions Ltd., Aisin, ABB, Ltd., Alstom S.A., Siemens AG, Delphi Automotive LLP, Voith GmbH, Mitsubishi Electric Corporation, and others.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the traction motor market based on the below-mentioned segments:

Global Traction Motor Market, By Type

• DC Traction Motor
• AC Traction Motor
• Synchronous Motor

Global Traction Motor Market, By Power Rating

• Less than 200kW
• 200-400 kW
• More than 400 kW

Global Traction Motor Market, By Application

• Railways
• Electric Vehicles
• Industrial Vehicles

Global Traction Motor Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa