According to a study published by Insure Insights, the global railway traction motors is estimated to grow at a CAGR of 4.5%. The railway traction motor is a distinctly designed electric motor that is used to provide higher torque for railway coaches. Due to their massive weight and long service, the railway coach generally requires motors that are strong, durable, and capable of supporting the high mechanical force. As a result, the railway traction motors offer the upper-level power requirement for the efficient functioning of the railway coach. Electric traction is widely used across the world, specifically for routes with dense traffic, like urban and suburban railways. These high-speed lines require electric traction to obtain the speeds required for inter-city travel.

Top Driver: Rise in Freight Transportation Through railroad and growing traction of metro rails

Factors such as a rise in freight transportation through railroad and growing traction of metro rails are expected to propel the demand for the railway traction motor. Some of the significant market players in the railway traction motor market are focused on the development of more upgraded electric traction motors to sustain the market competitiveness. In Addition, the continuous technological advancements, the increasing electrification in the railways, and growing investment in R & D activities for the development of advanced and efficient electric traction motor is also a significant factor fueling the growth of the market. The exceptional advantages offered by railway traction motor such as increased efficiency, minimum requirement of maintenance, and ability to reduce the use of electricity is further estimated to fuel the market. The rising emphasis towards the speed railways and the expanding metro rail network are other factors leading to increasing adoption of electric traction motor. On the other hand, the high cost of maintenance may hamper the growth of the railway traction motors market in the future.

AC Motors Segment Accounts for the Largest Market Share

The global railway traction motor market is segmented into DC traction motor, AC traction motor, and synchronous AC traction motor based on the type. The AC segment is estimated to be the largest market for railway traction motors during the forecast period. Earlier, DC motors were favored for railway applications. However, AC motors are now extensively being used due to modern power electronics. Compared to DC motors, AC motors are more efficient and easier to control. The market is segmented into diesel locomotive, electric multiple units, electric locomotives, diesel-electric locomotives based on the application.

Massive Investments to Develop Advanced Railway Technologies to Benefit Europe Market

Europe is the dominating region in the global railway traction motor market owing to massive investments to develop advanced railway technologies. Following Europe, Asia Pacific is the leading geographical segment, owing to the surging demand for speed railways. North America is expected to grow sluggishly due to the gradual enhancement of railway infrastructures in the U.S. for its market growth.

Players to Focus on Expanding Applications in Complex Computing, Healthcare, Finance

The global railway traction motor market is estimated to stay fragmented during the forecast period owing to the possible new entrants. The major market players operating in the market are Bombardier Inc., Aisin Seiki Co. Ltd., Saini Heavy Electrical & Engineering Co Private Ltd., Mitsubishi Electric Corporation, ALSTOM, Hyundai Rotem Company, Sulzer Ltd., Bharat Heavy Electricals Ltd., VEM Sachsenwerk GmbH, Zytek Automotive Ltd., and ABB Group.

Bombardier Inc: In May 2017, Bombardier Transportation introduced its new product platform for the locomotive sector at the Transport Logistic trade fair in Munich. The BOMBARDIER TRAXX AC3 locomotive is powered by alternating current, the product platform is now complete with the introduction of new BOMBARDIER TRAXX MS3 (multi system) and DC3 (direct current) locomotives.

Scope of the Report

By Type

• AC traction motor
• DC traction motor
• Synchronous traction motor

By Application

• Diesel locomotive
• electric multiple units
• Electric locomotives
• Diesel-electric locomotives

By Region

• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.