Report Overview:
Electric Traction Motors are specialized electric motors used primarily in the propulsion systems of various vehicles, such as electric trains, trams, electric cars, and boats. They convert electrical energy into mechanical energy, enabling movement. These motors are integral to the transition toward clean and efficient transportation systems. Unlike conventional internal combustion engines, electric traction motors offer superior energy efficiency, lower emissions, and enhanced torque control, making them ideal for modern mobility applications.
Electric traction motors can be powered through various means, such as onboard batteries, overhead electric lines, or third-rail systems. Depending on the type, these motors are classified into Alternating Current (AC) and Direct Current (DC) systems, each with its specific advantages and applications.
Market Value:
Global Electric Traction Motors Market was estimated at USD 13,560 million in 2024 and is projected to reach USD 28,729.34 million by 2032, growing at a strong CAGR of 8.70% during the forecast period.
In North America, the market size was recorded at USD 4,079.97 million in 2024, with a projected CAGR of 7.46% through 2032. This significant growth reflects increasing investments in electric mobility infrastructure, adoption of electric vehicles (EVs), and modernization of rail networks.
CAGR of 8.70% (2024 – 2032)
By Applications:
Rail Industry
Electric Vehicle
Boat
Others
By Types:
Key players include:
• KONCAR
• CG Power and Industrial Solutions
• Siemens AG
• Parker-Hannifin Corp
• SKF AB
• ABB Ltd.
• Alstom SA
• CRRC Corporation Limited
• Robert Bosch GmbH
