The Electric Traction Motor Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Electric Traction Motor Market?
The market size of the Electric Traction Motor Global Market has seen swift expansion in the recent past. The market size was at $19.79 billion in 2024 and is projected to rise to $23.65 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 19.5%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Electric Traction Motor Industry?
The Electric Traction Motor Global Market is estimated to reach a value of $47.03 billion in 2029, with a compound annual growth rate (CAGR) of 18.8%.
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What are the Key Growth Drivers Fueling the Electric Traction Motor Market?
The key drivers in the electric traction motor market are:
• Research and development in motor technology
• Environmental and sustainability goals driving the transition to clean energy
• Expansion of Electric Vehicle (EV) charging infrastructure
• Increased adoption in commercial and industrial applications and diversification of electric mobility solutions
Global Market Segmentation: Identifying Major Electric Traction Motor Industry Segments
The electric traction motor market covered in this report is segmented –
1) By Type: AC, DC
2) By Power Rating: Less Than 200 kW, Between 200 kW To 400 kW, More Than 400 kW
3) By Application: Railway, Electric Vehicle, Elevators, Conveyors, Industrial Machinery
4) By Industry Vertical: Chemical And Petrochemical, Oil And Gas, Energy And Power, Automotive, Food And Beverages, Healthcare, Other Industry Verticals
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What are the Emerging Trends Shaping the Future of the Electric Traction Motor Market?
The key trends in the ndt services market are:
• Technological improvements in motor design are shaping the future of the market.
• Advanced battery technology is an emerging trend in the market.
• Lightweight and compact motor designs are becoming increasingly prevalent.
• Integration of smart features and IoT is a significant developing trend.
Who Are the Top Competitors & Leading Players in the Electric Traction Motor Market?
Major companies in the electric traction motor market are:
• ABB Ltd.
• Siemens AG
• General Electric Company
• CG Power and Industrial Solutions Ltd
• CRRC Corporation Limited
• Kirloskar Electric Company Ltd.
• Alstom SA
• Traktionssysteme Austria GmbH
• Skoda Transportation AS
• Robert Bosch GmbH
• Mitsubishi Electric Corporation
• Toshiba Corporation
• Nidec Corporation
• Johnson Electric Holdings Limited
• Ametek Inc.
• Regal Beloit Corporation
• WEG SA
• Brook Crompton UK Ltd.
• TECO Electric & Machinery Co. Ltd.
• Hitachi Ltd.
• Emerson Electric Co.
• Parker Hannifin Corporation
• Marathon Electric Motors Limited.
• NORD Drivesystems Pvt. Ltd.
• Bonfiglioli Riduttori SpA
• Sumitomo Heavy Industries Ltd.
• Yaskawa Electric Corporation
• Fuji Electric Co. Ltd.
• Hyundai Rotem Company
• VEM Group
• Voith GmbH & Co. KGaA
• KEB Automation KG
Regional Dominance: Which Area Leads the Global Electric Traction Motor Market?
Asia-Pacific was the largest region in the electric traction motor market in 2024
