Traction Motor Market - Forecasts from 2025 to 2030

Traction Motor Market, at a 8.74% CAGR, is anticipated to reach USD 25.330 billion in 2030 from USD 16.660 billion in 2025.

The traction motor market is set for robust expansion over the forecast period, propelled by escalating requirements for high-performance electric variants, favorable governmental policies and incentives promoting electric vehicles, and a surge in railway electrification initiatives. Electric motors designated as traction motors power an array of vehicles, encompassing locomotives, electric or hydrogen automobiles, electric multiple units like trains, trolleybuses, elevators, and even roller coasters. The accelerating adoption of electric vehicles and heightened construction sector investments are projected to generate substantial demand for these motors, thereby catalyzing comprehensive market growth.

A primary impetus stems from burgeoning infrastructure and construction investments, which are significantly elevating traction motor requirements. DC series motors, a prominent traction motor subtype, excel in heavy-duty construction environments owing to their exceptional starting torque and variable speed capabilities. These attributes make them indispensable for applications such as electric locomotives, steel rolling mills, hoists, lifts, and cranes. Governmental capital infusions into construction endeavors are anticipated to amplify this demand trajectory. For instance, the US Census Bureau documented a notable escalation in total construction spending, rising from 1,501,841 million dollars in February 2020 to 1,844,105 million dollars in February 2023. Such intensified project pipelines and fiscal commitments from public sectors are poised to underpin sustained traction motor market advancement.

Segmentation insights reveal that the transportation sector's rapid evolution is hastening traction motor integration. The proliferation of transportation needs is driving greater utilization of these motors in electric trolley buses and expansive railway networks. Traction motors, energized by electricity, deliver the requisite force to propel train wheels, leveraging their robust torque output and precise speed regulation. Electrification trends and augmented governmental funding in railways are expected to further invigorate market dynamics. In March 2023, the Indian Ministry of Railways introduced the Bharat Gaurav trains, designed to showcase India's historical landmarks and cultural heritage. These developments, aligned with broader electrification efforts, are forecasted to reinforce traction motor uptake within transportation frameworks.

Geographically, the Asia-Pacific region is positioned to command a predominant market portion throughout the forecast period. This dominance arises from surging construction investments and electric vehicle production tailored for transportation, collectively spurring regional traction motor demand and fostering market proliferation. Data from the International Organization of Motor Vehicle Manufacturers (OICA) indicates a 27% uptick in Asia-Pacific bus and coach production, from 140,234 units in 2021 to 177,657 units in 2022, with India registering a 111% surge in railway coach output over the same interval. Indian railways have outlined plans for 102 semi-high-speed Vande Bharat Express trains to commence operations by 2024, including an initial rollout of at least 10 trains linking 40 cities by August 2022, alongside a comprehensive electrification target for all broad-gauge lines by 2023. Furthermore, the International Trade Administration reported in April 2023 that China's 14th Five-Year Plan (2021-2025) allocates over 27 trillion yuan ($4.2 trillion) toward new infrastructure development. This confluence of railway sector enhancements and supportive construction investments is anticipated to expedite traction motor market growth across Asia-Pacific.

Overall, the synergistic forces of performance-driven demand in electric mobility, policy-backed electrification, infrastructure capital flows, transportation sector electrification, and Asia-Pacific's manufacturing and investment ecosystem establish a solid platform for the traction motor market's projected ascent. These interconnected drivers highlight the motors' pivotal function in enabling efficient, high-torque propulsion across diverse vehicular and industrial applications in an increasingly electrified global landscape.

Key Benefits of this Report:

• Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, and other sub-segments.
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Report Coverage:

• Historical data from 2022 to 2024 & forecast data from 2025 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
• Company Profiling (Strategies, Products, Financial Information, and Key Developments among others.

Market Segmentation:

• TRACTION MOTOR MARKET BY TYPE
• AC Motor
• DC Motor
• Others
• TRACTION MOTOR MARKET BY POWER OUTPUT
• Up to 100 kW
• 100 to 500 kW
• Greater than 500 kW
• TRACTION MOTOR MARKET BY END-USER
• Building & Construction
• Automtove
• Railways/ Locomotives
• Marine
• Others
• TRACTION MOTOR MARKET BY GEOGRAPHY
• North America
• By Type
• By Power Output
• By End-User
• By Country
• USA
• Canada
• Mexico
• South America
• By Type
• By Power Output
• By End-User
• By Country
• Brazil
• Argentina
• Others
• Europe
• By Type
• By Power Output
• By End-User
• By Country
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• By Type
• By Power Output
• By End-User
• By Country
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• By Type
• By Power Output
• By End-User
• By Country
• China
• India
• Japan
• South Korea
• Indonesia
• Thailand
• Taiwan
• Others