SAN JOSE, Calif.
- Jan. 20, 2020
-- The global electric traction motor market (https://www.credenceresearch.com/report/electric-traction-motor-market)
worldwide was valued at US$ 12.9 billion in 2018 and is set to grow by 19.2 per cent in the forecast period.
The electric traction motor is driven by factors such as the high acceptance of the traction motors in the locomotives. The electric traction motors have an important role to play in the locomotive. They provide energy efficiency to electric rail vehicles. In addition, increasing investment in the rail sector and digitization in these sectors are fueling the growth of the electric traction motor market. On the other hand, fluctuations in the prices of raw materials are expected to restrict market growth.
Ongoing technological developments in the field of electric motors, promoting their adoption in battery-powered and hybrid vehicles. The growing demand for energy-efficient motors in the automotive sector is expected to boost demand for the electric traction motor market in the near future. In addition, the key players in the electric traction motor are more focused on developing new advanced and efficient products. For instance, in 2017, the Hyundai Rotem the Korean manufactures launched class 220 insulated heat-resistant electric traction motor to fulfill the growing demand for motors that are useful to operate in high temperatures in various industries.Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59792
The global electric traction motor market is categorized into types, power ratios and end-users. Based on end-users, the market is further divided into rail and electric vehicles. Traction motor used across a number of rail applications, including locomotives, railroads, rapid transit vehicles, and others. The electrification of the railways is a key driver of the growth of the market for electric traction in the rail sector. Growing awareness of emission control and strict government regulation promote the growth of traction motors in railway applications.Research Report: https://www.credenceresearch.com/report/electric-traction-motor-market