Railway Traction Motor Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F- Product Image

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Railway Traction Motor Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F

Report
183 Pages
February 2025
Region: Global
TechSci Research
ID: 6054518

The Railway Traction Motor Market was valued at USD 13.0 Billion in 2024, and is expected to reach USD 18.1 Billion by 2030, rising at a CAGR of 5.71%. The market is experiencing significant growth due to the increasing global demand for energy-efficient and environmentally friendly transportation systems. The growing emphasis on sustainable transportation solutions and the shift towards electrification in railway networks are key factors driving this growth. Electric traction motors provide a more energy-efficient and cost-effective alternative to traditional diesel engines, making them an appealing choice for operators focused on reducing their carbon footprints. Additionally, government initiatives promoting green practices and investments in railway infrastructure are fueling demand for advanced traction systems, further accelerating market expansion.

Market Drivers:

Railway Electrification Growth

A primary driver for the railway traction motor market is the global trend toward railway electrification. As nations work to reduce carbon emissions and decrease reliance on fossil fuels, electrification offers a cleaner alternative to traditional diesel-powered trains. Rail operators are increasingly upgrading their infrastructure to integrate electrified rail lines, which necessitates the installation of modern traction motors. This transition not only enhances energy efficiency but also lowers long-term operational costs. With growing government support for sustainable transportation, the pace of railway electrification is expected to accelerate, further driving the demand for advanced traction systems.

Key Market Challenges:

High Initial Investment Costs

The substantial initial costs associated with rail network electrification and the installation of electric traction motors present a significant challenge. Many rail operators are hesitant to invest in costly infrastructure upgrades, particularly in regions with limited budgets or outdated rail systems. The high upfront costs of replacing diesel engines with electric motors, as well as the need for new rail lines, substations, and supporting infrastructure, can be a barrier for operators, slowing the adoption of electric traction systems. Additionally, the long-term cost savings are not always an immediate consideration for all stakeholders, further hindering market growth.

Key Market Trends:

Integration of Smart Technologies

The integration of smart technologies is increasingly transforming the railway traction motor market. Rail operators are adopting IoT (Internet of Things) sensors and AI-powered analytics to optimize motor performance, facilitate predictive maintenance, and minimize downtime. These technological advancements are improving operational efficiency, enhancing safety, and reducing maintenance costs. The incorporation of digital technologies also allows for real-time monitoring, offering insights into the condition of traction motors and enabling swift identification of potential issues before they lead to failures.

Key Market Players:

Mitsubishi Electric Corporation
VEM Motors GmbH
Saini Electrical and Engineering Works
Siemens AG
Hyundai Rotem Company
Hitachi Industrial Products, Ltd.
ABB Ltd.
Sulzer Ltd.
Alstom SA
CG Power and Industrial Solutions Limited (Murugappa Group)

Report Scope:

This report segments the Global Railway Traction Motor Market into the following categories, along with detailed industry trends:

By Type:

DC Traction Motor
AC Traction Motor
Synchronous AC Traction Motor

By Application:

Diesel Locomotive
Electric Locomotive
Diesel-Electric Locomotive

By Region:

North America (United States, Canada, Mexico)
Europe & CIS (Germany, France, U.K., Spain, Italy)
Asia-Pacific (China, Japan, India, Thailand, Indonesia, South Korea, Australia)
Middle East & Africa (Turkey, South Africa, Saudi Arabia, UAE)
South America (Brazil, Argentina)

Competitive Landscape

Company Profiles: A detailed analysis of the major companies operating in the Global Railway Traction Motor Market is included.

Available Customizations:

TechSci Research offers customized reports based on specific business requirements. The following customization options are available:

Company Information:

Detailed analysis and profiling of additional market players (up to five).

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1. Introduction

1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments

4. Global Railway Traction Motor Market Outlook

4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Type Market Share Analysis (DC Traction Motor, AC Traction Motor, Synchronous AC Traction Motor)
4.2.2. By Application Market Share Analysis (Diesel Locomotive, Electric Locomotive, Diesel-Electric Locomotive)
4.2.3. By Regional Market Share Analysis
4.2.3.1. North America Market Share Analysis
4.2.3.2. Europe & CIS Market Share Analysis
4.2.3.3. Asia-Pacific Market Share Analysis
4.2.3.4. Middle East & Africa Market Share Analysis
4.2.3.5. South America Market Share Analysis
4.2.4. By Top 5 Companies Market Share Analysis, Others (2024)
4.3. Global Railway Traction Motor Market Mapping & Opportunity Assessment
4.3.1. By Type Market Mapping & Opportunity Assessment
4.3.2. By Application Market Mapping & Opportunity Assessment
4.3.3. By Regional Market Mapping & Opportunity Assessment

5. North America Railway Traction Motor Market Outlook

5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type Market Share Analysis
5.2.2. By Application Market Share Analysis
5.2.3. By Country Market Share Analysis
5.2.3.1. United States Railway Traction Motor Market Outlook
5.2.3.1.1. Market Size & Forecast
5.2.3.1.1.1. By Value
5.2.3.1.2. Market Share & Forecast
5.2.3.1.2.1. By Type Market Share Analysis
5.2.3.1.2.2. By Application Market Share Analysis
5.2.3.2. Canada Railway Traction Motor Market Outlook
5.2.3.2.1. Market Size & Forecast
5.2.3.2.1.1. By Value
5.2.3.2.2. Market Share & Forecast
5.2.3.2.2.1. By Type Market Share Analysis
5.2.3.2.2.2. By Application Market Share Analysis
5.2.3.3. Mexico Railway Traction Motor Market Outlook
5.2.3.3.1. Market Size & Forecast
5.2.3.3.1.1. By Value
5.2.3.3.2. Market Share & Forecast
5.2.3.3.2.1. By Type Market Share Analysis
5.2.3.3.2.2. By Application Market Share Analysis

6. Europe & CIS Railway Traction Motor Market Outlook

6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type Market Share Analysis
6.2.2. By Application Market Share Analysis
6.2.3. By Country Market Share Analysis
6.2.3.1. France Railway Traction Motor Market Outlook
6.2.3.1.1. Market Size & Forecast
6.2.3.1.1.1. By Value
6.2.3.1.2. Market Share & Forecast
6.2.3.1.2.1. By Type Market Share Analysis
6.2.3.1.2.2. By Application Market Share Analysis
6.2.3.2. Germany Railway Traction Motor Market Outlook
6.2.3.2.1. Market Size & Forecast
6.2.3.2.1.1. By Value
6.2.3.2.2. Market Share & Forecast
6.2.3.2.2.1. By Type Market Share Analysis
6.2.3.2.2.2. By Application Market Share Analysis
6.2.3.3. Spain Railway Traction Motor Market Outlook
6.2.3.3.1. Market Size & Forecast
6.2.3.3.1.1. By Value
6.2.3.3.2. Market Share & Forecast
6.2.3.3.2.1. By Type Market Share Analysis
6.2.3.3.2.2. By Application Market Share Analysis
6.2.3.4. Italy Railway Traction Motor Market Outlook
6.2.3.4.1. Market Size & Forecast
6.2.3.4.1.1. By Value
6.2.3.4.2. Market Share & Forecast
6.2.3.4.2.1. By Type Market Share Analysis
6.2.3.4.2.2. By Application Market Share Analysis
6.2.3.5. U.K. Railway Traction Motor Market Outlook
6.2.3.5.1. Market Size & Forecast
6.2.3.5.1.1. By Value
6.2.3.5.2. Market Share & Forecast
6.2.3.5.2.1. By Type Market Share Analysis
6.2.3.5.2.2. By Application Market Share Analysis

7. Asia-Pacific Railway Traction Motor Market Outlook

7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type Market Share Analysis
7.2.2. By Application Market Share Analysis
7.2.3. By Country Market Share Analysis
7.2.3.1. China Railway Traction Motor Market Outlook
7.2.3.1.1. Market Size & Forecast
7.2.3.1.1.1. By Value
7.2.3.1.2. Market Share & Forecast
7.2.3.1.2.1. By Type Market Share Analysis
7.2.3.1.2.2. By Application Market Share Analysis
7.2.3.2. Japan Railway Traction Motor Market Outlook
7.2.3.2.1. Market Size & Forecast
7.2.3.2.1.1. By Value
7.2.3.2.2. Market Share & Forecast
7.2.3.2.2.1. By Type Market Share Analysis
7.2.3.2.2.2. By Application Market Share Analysis
7.2.3.3. India Railway Traction Motor Market Outlook
7.2.3.3.1. Market Size & Forecast
7.2.3.3.1.1. By Value
7.2.3.3.2. Market Share & Forecast
7.2.3.3.2.1. By Type Market Share Analysis
7.2.3.3.2.2. By Application Market Share Analysis
7.2.3.4. Thailand Railway Traction Motor Market Outlook
7.2.3.4.1. Market Size & Forecast
7.2.3.4.1.1. By Value
7.2.3.4.2. Market Share & Forecast
7.2.3.4.2.1. By Type Market Share Analysis
7.2.3.4.2.2. By Application Market Share Analysis
7.2.3.5. Indonesia Railway Traction Motor Market Outlook
7.2.3.5.1. Market Size & Forecast
7.2.3.5.1.1. By Value
7.2.3.5.2. Market Share & Forecast
7.2.3.5.2.1. By Type Market Share Analysis
7.2.3.5.2.2. By Application Market Share Analysis
7.2.3.6. South Korea Railway Traction Motor Market Outlook
7.2.3.6.1. Market Size & Forecast
7.2.3.6.1.1. By Value
7.2.3.6.2. Market Share & Forecast
7.2.3.6.2.1. By Type Market Share Analysis
7.2.3.6.2.2. By Application Market Share Analysis
7.2.3.7. Australia Railway Traction Motor Market Outlook
7.2.3.7.1. Market Size & Forecast
7.2.3.7.1.1. By Value
7.2.3.7.2. Market Share & Forecast
7.2.3.7.2.1. By Type Market Share Analysis
7.2.3.7.2.2. By Application Market Share Analysis

8. Middle East & Africa Railway Traction Motor Market Outlook

8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type Market Share Analysis
8.2.2. By Application Market Share Analysis
8.2.3. By Country Market Share Analysis
8.2.3.1. South Africa Railway Traction Motor Market Outlook
8.2.3.1.1. Market Size & Forecast
8.2.3.1.1.1. By Value
8.2.3.1.2. Market Share & Forecast
8.2.3.1.2.1. By Type Market Share Analysis
8.2.3.1.2.2. By Application Market Share Analysis
8.2.3.2. Turkey Railway Traction Motor Market Outlook
8.2.3.2.1. Market Size & Forecast
8.2.3.2.1.1. By Value
8.2.3.2.2. Market Share & Forecast
8.2.3.2.2.1. By Type Market Share Analysis
8.2.3.2.2.2. By Application Market Share Analysis
8.2.3.3. Saudi Arabia Railway Traction Motor Market Outlook
8.2.3.3.1. Market Size & Forecast
8.2.3.3.1.1. By Value
8.2.3.3.2. Market Share & Forecast
8.2.3.3.2.1. By Type Market Share Analysis
8.2.3.3.2.2. By Application Market Share Analysis
8.2.3.4. UAE Railway Traction Motor Market Outlook
8.2.3.4.1. Market Size & Forecast
8.2.3.4.1.1. By Value
8.2.3.4.2. Market Share & Forecast
8.2.3.4.2.1. By Type Market Share Analysis
8.2.3.4.2.2. By Application Market Share Analysis

9. South America Railway Traction Motor Market Outlook

9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type Market Share Analysis
9.2.2. By Application Market Share Analysis
9.2.3. By Country Market Share Analysis
9.2.3.1. Brazil Railway Traction Motor Market Outlook
9.2.3.1.1. Market Size & Forecast
9.2.3.1.1.1. By Value
9.2.3.1.2. Market Share & Forecast
9.2.3.1.2.1. By Type Market Share Analysis
9.2.3.1.2.2. By Application Market Share Analysis
9.2.3.2. Argentina Railway Traction Motor Market Outlook
9.2.3.2.1. Market Size & Forecast
9.2.3.2.1.1. By Value
9.2.3.2.2. Market Share & Forecast
9.2.3.2.2.1. By Type Market Share Analysis
9.2.3.2.2.2. By Application Market Share Analysis

10. Market Dynamics

10.1. Drivers
10.2. Challenges

11. Market Trends & Developments

12. Competitive Landscape

12.1. Company Profiles
12.1.1. Mitsubishi Electric Corporation
12.1.1.1. Company Details
12.1.1.2. Products
12.1.1.3. Financials (As Per Availability)
12.1.1.4. Key Market Focus & Geographical Presence
12.1.1.5. Recent Developments
12.1.1.6. Key Management Personnel
12.1.2. VEM motors GmbH
12.1.2.1. Company Details
12.1.2.2. Products
12.1.2.3. Financials (As Per Availability)
12.1.2.4. Key Market Focus & Geographical Presence
12.1.2.5. Recent Developments
12.1.2.6. Key Management Personnel
12.1.3. Saini Electrical and engineering works
12.1.3.1. Company Details
12.1.3.2. Products
12.1.3.3. Financials (As Per Availability)
12.1.3.4. Key Market Focus & Geographical Presence
12.1.3.5. Recent Developments
12.1.3.6. Key Management Personnel
12.1.4. Siemens AG
12.1.4.1. Company Details
12.1.4.2. Products
12.1.4.3. Financials (As Per Availability)
12.1.4.4. Key Market Focus & Geographical Presence
12.1.4.5. Recent Developments
12.1.4.6. Key Management Personnel
12.1.5. HYUNDAI ROTEM COMPANY
12.1.5.1. Company Details
12.1.5.2. Products
12.1.5.3. Financials (As Per Availability)
12.1.5.4. Key Market Focus & Geographical Presence
12.1.5.5. Recent Developments
12.1.5.6. Key Management Personnel
12.1.6. Hitachi Industrial Products, Ltd.
12.1.6.1. Company Details
12.1.6.2. Products
12.1.6.3. Financials (As Per Availability)
12.1.6.4. Key Market Focus & Geographical Presence
12.1.6.5. Recent Developments
12.1.6.6. Key Management Personnel
12.1.7. ABB Ltd.
12.1.7.1. Company Details
12.1.7.2. Products
12.1.7.3. Financials (As Per Availability)
12.1.7.4. Key Market Focus & Geographical Presence
12.1.7.5. Recent Developments
12.1.7.6. Key Management Personnel
12.1.8. Sulzer Ltd.
12.1.8.1. Company Details
12.1.8.2. Products
12.1.8.3. Financials (As Per Availability)
12.1.8.4. Key Market Focus & Geographical Presence
12.1.8.5. Recent Developments
12.1.8.6. Key Management Personnel
12.1.9. Alstom SA
12.1.9.1. Company Details
12.1.9.2. Products
12.1.9.3. Financials (As Per Availability)
12.1.9.4. Key Market Focus & Geographical Presence
12.1.9.5. Recent Developments
12.1.9.6. Key Management Personnel
12.1.10. CG Power and Industrial Solutions Limited (Murugappa Group)
12.1.10.1. Company Details
12.1.10.2. Products
12.1.10.3. Financials (As Per Availability)
12.1.10.4. Key Market Focus & Geographical Presence
12.1.10.5. Recent Developments
12.1.10.6. Key Management Personnel

13. Strategic Recommendations/Action Plan

13.1. Key Focus Areas
13.1.1. Target Type
13.1.2. Target Application

14. About the Publisher & Disclaimer

Companies Mentioned

Mitsubishi Electric Corporation
VEM motors GmbH
Saini Electrical and engineering works
Siemens AG
HYUNDAI ROTEM COMPANY
Hitachi Industrial Products, Ltd.
ABB Ltd.
Sulzer Ltd.
Alstom SA
CG Power and Industrial Solutions Limited (Murugappa Group

Table Information

Report Attribute	Details
No. of Pages	183
Published	February 2025
Forecast Period	2024 - 2030
Estimated Market Value ( USD ) in 2024	$ 13 Billion
Forecasted Market Value ( USD ) by 2030	$ 18.1 Billion
Compound Annual Growth Rate	5.7%
Regions Covered	Global
No. of Companies Mentioned	10

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