North America Electric Traction Motor Market to Expand by 11.2% Annually Through 2028

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Dec 15, 2022, 05:30 ET

DUBLIN, Dec. 15, 2022 /PRNewswire/ -- The "North America Electric Traction Motor Market Size, Share & Industry Trends Analysis Report By Power Rating (Below 200 kW, 200-400 kW and Above 400 kW), By Type (AC and DC), By Application (Railways, Electric Vehicle), By Country and Growth Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.

The North America Electric Traction Motor Market is expected to witness market growth of 11.2% CAGR during the forecast period (2022-2028).

EV sales have considerably increased recently in Canada, the US, and other nations, but still, constitute a small portion of all new car sales. According to the International Energy Agency, at the end of 2014, there were 665,000 electric vehicles on the road, up from 180,000 in 2012. The market share for light-duty cars in Canada is now 0.28 percent, based on the most recent data. Although electric vehicle (EV) technology has been available for a while, industry insiders believe that consumers are uninformed of the advantages of EVs over conventional cars with internal combustion engines (ICE).

The US market dominated the North America Electric Traction Motor Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $4,594.2 million by 2028.The Canada market is poised to grow at a CAGR of 13.4% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 13.1% during (2022 - 2028).

Based on Power Rating, the market is segmented into Below 200 kW, 200-400 kW and Above 400 kW. Based on Type, the market is segmented into AC and DC. Based on Application, the market is segmented into Railways, Electric Vehicle and Others. The report also covers geographical segmentation of Electric Traction Motor market. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

Scope of the Study
Market Segments Covered in the Report:
By Power Rating

Below 200 kW
200-400 kW
Above 400 kW

By Type

By Application

Railways
Electric Vehicle
Others

By Country

US
Canada
Mexico
Rest of North America

Key Market Players

Robert Bosch GmbH
Toshiba Corporation
ABB Group
Siemens AG
Nidec Corporation
General Electric (GE) Co.
CG Power & Industrial Solutions Ltd. (Murugappa Group)
Mitsubishi Electric Corporation
Ametek, Inc.
Kawasaki Heavy Industries, Ltd.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

Chapter 3. Competition Analysis - Global

Chapter 4. North America Electric Traction Motor Market by Power Rating

Chapter 5. North America Electric Traction Motor Market by Type

Chapter 6. North America Electric Traction Motor Market by Application

Chapter 7. North America Electric Traction Motor Market by Country

Chapter 8. Company Profiles

Companies Mentioned

Robert Bosch GmbH
Toshiba Corporation
ABB Group
Siemens AG
Nidec Corporation
General Electric (GE) Co.
CG Power & Industrial Solutions Ltd. (Murugappa Group)
Mitsubishi Electric Corporation
Ametek, Inc.
Kawasaki Heavy Industries, Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/7w96ke

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Research and Markets
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SOURCE Research and Markets