Traction Motor Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Traction Motor Market is segmented By Type (AC Traction Motors, DC Traction Motors, Permanent Magnet Synchronous Motors), By Application (Railways, Automotive, Others), By Voltage (Low Voltage (Below 1 kV), Medium Voltage (1 kV – 3 kV), High Voltage (Above 3 kV)), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa). The report offers the value (in USD billion) for the above-mentioned segments.

Traction Motor Market is segmented By Type (AC Traction Motors, DC Traction Motors, Permanent Magnet....

Traction Motor Market Size

Market Size in USD Bn

CAGR9.6%

Study Period	2024 - 2031
Base Year of Estimation	2023
CAGR	9.6%
Market Concentration	Medium
Major Players	Siemens AG, ABB Ltd., General Electric Company, Bosch Limited, Nidec Corporation and Among Others

*Disclaimer: Major players are listed in no particular order.

*Source: Coherent Market Insights

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Traction Motor Market Analysis

The traction motor market is estimated to be valued at USD 14.04 Bn in 2024 and is expected to reach USD 26.75 Bn by 2031. It is projected to grow at a compound annual growth rate (CAGR) of 9.6% from 2024 to 2031. The traction motor market is expected to witness strong growth during the forecast period owing to rising sales of electric vehicles worldwide.

Traction Motor Market Report Snapshots

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