Global Railway Traction Motors Market Analysis, Trends and Opportunities 2016-2025
A new market study, titled “Global Railway Traction
Motors Market Analysis,
Trends and Opportunities 2016-2025” has been featured on
WiseGuyReports.
Traction motor is an
electric motor which acts as a propulsion device for a vehicle generating
rotational torque on a machine. They are used in electrically powered rail
vehicles and other electrical vehicles including, elevators, electric milk
float and trolleybuses. Railway traction motors are used in Electrical Multiple
Units (EMUs), Diesel locomotives, electric locomotives, diesel-electric
locomotives, and hybrid electric locomotives.
Demand Scenario
The global railway
traction motor market was USD 24.95 billion in 2018 and is estimated to reach
USD 31.55 billion by 2025 at a CAGR of 3.41% during the forecast period
Growth by Region
Europe is the market
leader in 2018, because of the increasing demand for electrification of
automobiles. Its dominance will continue to lead during the forecast period
owing to huge investments in advanced railway technologies by European nations.
Asia Pacific follows Europe with China to be a growing prospect due to the
rising demand for high speed railways. Market advancement in North America can
be attributed to improving railway infrastructure in the US, growing demand for
freight trains and urban transportation systems in Brazil contributes towards
growth in Latin America.
Drivers vs Constraints
Some of the primary
factors driving the market growth of global railway traction motors includes
increasing electrification of automobiles, rising need for efficient power
consumption and emphasis on improving performance. The use of traction motors
in railway engines, low manufacturing and maintenance costs coupled with low
emission of greenhouse gases are some of the other factors that increases the
market growth. The technological advancements in the railroad sector as well as
the ongoing R&D are paving the path for future growth for traction motors.
Some of the constraints
that dampen the future prospects include the high initial cost of railway
traction and the continuing increase in its price, as well as overheating of
traction motors can hinder the growth of the market.
Industry Trends and
Updates
BHEL’s state of the art
Insulated Gate Bipolar Transistors (IGBT) based 3-phase drive propulsion
equipment was installed in India’s first ever AC EMU train for Mumbai which
started its service in December 2017.
Alstom, another leading
player, has incorporated in its recent contracts the use of silicon carbide
power components for auxiliaries and traction convertors. Its advantages being
improved energy consumption, better reliability and lower maintenance costs.
Siemens and Alstom signed
a MoU on 26th September, 2017 to collaborate their businesses. Siemens’
mobility business including its rail traction drives business is combining with
Alstom.
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