Monday, November 28, 2022
HomePress ReleaseEIN PresswireAt 13% CAGR, Global Electric Traction Motor Market Size & Share Surpass...

At 13% CAGR, Global Electric Traction Motor Market Size & Share Surpass US$ 24 Bn 2030, Forecast & Analysis Report | CMI


Custom Market Insights

Electric Traction Motor Market was at US$ 14.2 Billion in 2021 and is growing to approx US$ 24 Billion by 2030, with a CAGR growth of 13% between 2022 and 2030.

The Global Electric Traction Motor Market was estimated at USD 14.2 Billion in 2021 and is anticipated to reach around USD 24 Billion by 2030, growing at a CAGR of roughly 13% between 2022 and 2030”

— Custom Market Insights

SANDY, UTAH, UNITED STATES, September 26, 2022 /EINPresswire.com/ — According to the study, The Global Electric Traction Motor Market was estimated at USD 14.2 Billion in 2021 and is anticipated to reach around USD 24 Billion by 2030, growing at a CAGR of roughly 13% between 2022 and 2030.

Electric Traction Motor Market: Overview

Traction motor-equipped vehicles are exclusively hybrid and battery-powered (BEVs). BEVs and HEVs have rapidly gained recognition in the global automotive industry by providing almost zero emissions and fuel efficiency at ever-lower prices. Around the world, numerous automakers are currently creating cutting-edge HEV and EV designs. For consumers to experience the best range and fuel economy, preventing electrical and magnetic losses is essential.

Electric Traction Motor Market: Growth Drivers

The market is expanding due to increased investments in electric vehicles and the growing adoption of energy-efficient motors. EV sales are increasing due to the traction motors’ high efficiency and low power consumption. Additionally, tight environmental regulations and emission limits to safeguard environmental sustainability fuel the demand for EVs, creating excellent conditions for market expansion.

A growing popular preference for zero-emission vehicles has resulted in a global boom in hybrid electric vehicle (HEV) sales. Therefore, the market would gain from the increased HEV production. The government is also implementing various schemes, like tax benefits and rebates, to boost EV sales, driving the market for EV traction motors.

Get a sample of the report: https://www.custommarketinsights.com/request-for-free-sample/?reportid=18558

Key Insights:

A) Per the analysis shared by our research analyst, the Electric Traction Motor market is estimated to grow annually at a CAGR of around 13% over the forecast period (2022-2030).

B) In terms of revenue, the Electric Traction Motor market was valued at around USD 12 billion in 2021 and is projected to reach USD 24 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.

C) Based on power rating segmentation, the <200 kW segment was predicted to show maximum market share in 2021.

D) Based on the type segmentation, the AC motors segment was the leading revenue-generating category in 2021.

E) Based on application segmentation, the electric vehicle (EV) segment was the leading revenue-generating category in 2021.

F) Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.

Press Release For Electric Traction Motor Market: https://www.custommarketinsights.com/press-releases/electric-traction-motor/

Regional Landscape

The Asia Pacific region will lead the electric DC motor market in 2021. The expansion is anticipated to result from an increase in the use of electric vehicles (EVs) and a significant number of rail and metro projects in the continent’s developing nations, including China, India, Japan, and others. Due to its rapid urbanization, China intends to reduce the pollution from its road transport vehicles, which will spur the development of electric vehicles. These elements will influence future market statistics for electric transition motors in China.

In 2021, Europe ranked second after North America in terms of the use of electric traction motors. The need for electric traction motors in the area is rising along with the demand for electric automobiles.

Get a sample of the report:https://www.custommarketinsights.com/request-for-free-sample/?reportid=18558

Key Players

Siemens AG

NIDEC Corporation

CRRC

Skoda Electric

CG Power

GE

Bosch

Alstom

Directly Purchase a Copy of the Report @ https://www.custommarketinsights.com/checkout/?reportid=18558

The Electric Traction Motor Market is segmented as follows:

By Type

AC motor

DC motor

By Power Rating

<200 kW

200 kW to 400 kW

>400 kW

By Application

Electric Vehicles

Railways

Others

By Geography

North America

The USA

Canada

Mexico

Europe

The UK

Germany

France

Italy

Russia

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Malaysia

Philippines

Rest of Asia-pacific

Latin America

Brazil

Rest of Latin America

Middle East and Africa

GCC

North Africa

South Africa

Rest of Middle East & Africa

Get a sample of the report:https://www.custommarketinsights.com/request-for-free-sample/?reportid=18558

Take a Look at our other Reports:

Global Spend Analytics Market 2022 – 2030: https://www.custommarketinsights.com/report/spend-analytics-market/

Global Somatostatin Analogs Market 2022 – 2030: https://www.custommarketinsights.com/report/somatostatin-analogs-market/

Global Social Media Analytics Market 2022 – 2030: https://www.custommarketinsights.com/report/social-media-analytics-market/

Global Quinine Market 2022 – 2030: https://www.custommarketinsights.com/report/quinine-market/

About Us

Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.

Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.

Get a sample of the report:https://www.custommarketinsights.com/request-for-free-sample/?reportid=18558

Contact Us

Joel John
Custom Market Insights
+1 801-639-9061
joel@custommarketinsights.com
Visit us on social media:
Facebook
Twitter
LinkedIn



RELATED ARTICLES

Most Popular