The Global Railway Traction Motor Market size was valued at USD 33.69 billion in 2019 and
is projected to reach 47.64 billion by 2030, growing at a CAGR of 3.2% from 2020 to 2030.
Traction motor is an electric motor used to generate the power for rotating the wheels of a
train. Traction motors are widely used in railways due to its high performance and greater
durability. These traction motors provide effective torque and mechanical force required for
the effective functioning of the railway coaches with heavy weights.
Market Segmentations and Scope of the Study:
The global railway traction motor market share is analyzed on the basis of type, application
and geography. On the basis of type, the market is segmented into direct current traction
motor, alternating current traction motor, and synchronous alternating current traction motor.
On the basis of application, the market is divided into diesel locomotive, electric multiple units,
electric locomotive, and direct electric locomotive. Geographic breakdown and analysis of
each of the aforesaid segments includes regions comprising North America, Europe, Asia-
Pacific, and RoW.
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North America denotes the higher adoption of railway traction motors and is anticipated to
hold the largest market share throughout the forecast period. This is attributable to the factors
such as developed infrastructure, stringent government regulation to control pollution and
increased use of mono and metro rails in this region. It is expected that the emerging
economies, specifically in the Asia-Pacific region would witness increasing market size with
rapid growth rate owing to increasing focus on electrification of the railways, growth in tourism,
which are expected to promote the market growth in this region.