Traction Motor Market to See Promising Growth of USD 20.24 Billion by 2029, Size, Share, Growth, Trends, Gross Revenue and Key Players Outlook

SEOUL, South Korea, Sept. 30, 2022 /PRNewswire/ -- Recent study report released by Data Bridge Market research titled 'Global Traction Motor Market' (covering USA, Europe, China, Japan, India, South East Asia and etc) highlights opportunities, risk analysis, and leveraged with strategic and tactical decision-making support. The data and information of this Traction Motor report help businesses to map the advertising, promotion, marketing, and sales strategy more profitably and also assist in taking sound and efficient decisions. Qualitative and transparent research studies are performed devotedly to offer you an excellent market research report for your niche. Traction Motor' market research report conducts a precise analysis of the current scenario of the market, which covers several market dynamics. In the Traction Motor market report, market drivers and market restraints are studied carefully along with the analysis of the market structure. Not to mention, several charts and graphs have been used effectively to represent the facts and figures in a proper way.

Data Bridge Market Research analyses that the traction motor market which was growing at a value of 12.23 billion in 2021 and is expected to reach the value of USD 20.24 billion by 2029, at a CAGR of 6.50% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Industry Overview: Traction Motor Market

Traction is the production of frictional force between two surfaces, either electrically or non-electrically, without slipping. A traction motor is an electric motor that generates rotation torque on a machine and converts it to a straight-line motion. This motor is categorised as a specific class of industrial motors due to the demands of low-torque high-speed cruising, high torque low-speed hill climbing, a high rate of acceleration/deceleration, and a wide working speed range.

The industry is primarily propelled by strict emission-control laws enacted to ensure environmental sustainability. In the past, a thriving EV market has also pushed expansion prospects. Despite the global automotive industry's experience with recessionary pressures during the COVID-19 pandemic, the outlook for electric vehicle sales has remained positive.

This Traction Motor report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the traction motor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Some of the major players operating in the traction motor market are:

• Saft (France)
• SAMSUNG SDI CO.,LTD. (South Korea)
• Lithium Energy Japan (Japan)
• Tianjin Lishen Battery Co., Ltd. (China)
• Shenzhen A&S Power Technology Co., Ltd. (China)
• LITHIUMWERKS (Europe)
• GlobTek, Inc. (U.S.)
• BYD Company Ltd (China)
• Panasonic Corporation (Japan)
• L.G. Chem (South Korea)
• VARTA Microbattery GmbH (Germany)
• Dalian CBAK Power Battery Co., Ltd (China)
• TOSHIBA CORPORATION (Japan)
• CALB USA Inc. (U.S.)
• Shenzhen BAK Technology Co., Ltd. (China)
• Contemporary Amperex Technology Co., Limited (China)
• A123 Systems LLC (U.S.)
• Amperex Technology Limited (China)
• XALT Energy (Switzerland)
• Leclanche SA (Switzerland)
• MicroStep, spol. s r.o. (Germany)

Recent Industry Development:

• In July 2021 Mercedes-Benz will acquire YASA Motors Ltd., a pioneer in next-generation electric drive technology. Under the terms of the agreement, YASA will operate as a Mercedes-Benz wholly-owned subsidiary, developing high-performance e-motors.
• In December 2020 Parker-Hannifin will release the GVM310 310 mm frame high-power, permanent magnet A.C. motor. This new product joins the company's existing Global Vehicle Motor (GVM) family of off-road and on-road commercial electric and hybrid electric vehicles.

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Opportunity:      

The Electric Traction Motor Market is expected to see significant investment in the coming years. The market will become more profitable as key players increase their investments. During this time, many new innovative traction motors are also coming out.

Consider Data Bridge Market Research for this Report which would Help Impact Your Revenues Positively

• This study offers the latest product news, trends, and updates from the industry's leading players who have leveraged their market position.
• It also offers strategic plans and standards to arrive at informed business decisions adopted by the main players, thereby advocating your go to market strategies.
• In addition, it offers insights into the dynamics of customer behavior that can help the organization better curate market strategies
• Usage of exclusive tailor-made tools along with primary research, secondary research and our in-house data model helps us in extracting the exact market numbers
• Mapping the customer in 3P grid comprising of Purpose, Planning and Positioning, thereby delivering a solution by keeping the prospecting client at the sweet spot
• The market research report includes all of the market's valuable elements, such as sales growth, product pricing & analysis, growth opportunities, and recommendations for addressing market challenges
• The report covers all the primary mergers & acquisitions, alliances, and collaborations that have generated additional opportunities for market players or in some cases, challenges

Industry Dynamics: Traction Motor

Drivers:

• Increasing vehicle electrification

Factors such as increasing vehicle electrification and rising demand for efficient power conversion are expected to drive demand for vehicle traction motors. Furthermore, stringent emission norms and environmental regulations, volatile fossil fuel prices, and the benefits of energy efficiency are among the factors driving demand for vehicle traction motors. Furthermore, rising demand from end-use industries such as automotive and railways is expected to boost demand for vehicle traction motors. Because of government subsidies and discounts, an increasing number of people are purchasing electric vehicles these days.

• High research and development (R&D) activities

The increasing use of high-capacity lithium-ion batteries in rolling stock and traction power is providing lucrative growth opportunities for industry investors and key market players. These companies are heavily investing in research and development (R&D) activities to improve railway systems, allowing them to increase overall sales and profitability. Aside from that, rising investments in electric vehicles (EVs) and the growing need to reduce carbon emissions globally are driving demand for railway traction motors.

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Restraints:

In the forecasted period, an increasing number of operational issues, as well as insulation breakdown and commutation malfunction, will act as market restraints for traction motors.

This traction motor Industry report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the traction motor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Segmentation:

By Application

• Transportation
• Industrial Machinery and Equipment
• Others

By Type

• AC Induction Motor
• Permanent Magnet Motor
• Other

By Vehicle type

• Passenger car
• Commercial vehicle
• Others

By End users

• Hybrid Vehicles
• Compact Construction Equipment
• Escalators
• Elevators
• Other

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Traction Motor Market Country Level Analysis

The countries covered in the Traction Motor Industry report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The Asia-Pacific region will outperform other regional players. The key driver in this region is the growing global concern about carbon emissions. North America has a sizable market for electric traction motors. In the North American region, there are numerous key players. In addition, overall investments in electric traction motors are high in this region.

Europe is another important market region. Carbon emissions are strictly regulated by the government in this region. The need to reduce carbon emissions is high in this region. Therefore, the launch of energy-efficient technologies will rise in Europe.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Traction Motor Market Report Answers the Following Questions:

• What will the market growth rate, growth momentum or acceleration market carries during the forecast period?
• Which are the key factors driving the Traction Motor?
• Which region is expected to hold the highest market share in the Traction Motor?
• What trends, challenges and barriers will impact the development and sizing of the Global Traction Motor?
• What is sales volume, revenue, and price analysis of top manufacturers of Traction Motor?
• What are the Traction Motor opportunities and threats faced by the vendors in the global Traction Motor Industry?

Table of Content: Traction Motor Market

Part 01: Executive Summary

Part 02: Scope of the Traction Motor Market Report

Part 03: Global Traction Motor Market Landscape

Part 04: Global Traction Motor Market Sizing

Part 05: Global Traction Motor Market Segmentation By Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

For More Insights Get Detailed TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=global-traction-motor-market

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