The Asia Pacific Electric Traction Motor Market would witness market growth of 12.1% CAGR during the forecast period (2022-2028).
For many years, the DC motor served as the foundation of the electric traction drives used in diesel and electric locomotives, street cars, and drilling rigs. It is made up of two components: a rotating armature and fixed field windings positioned around the rotating armature's shaft. The tightly wrapped coils of wire that make up the fixed field windings are installed within the motor case.
The field windings are connected to the armature, which is another series of coils wound around a central shaft, by "brushes," which are spring-loaded contacts pressed up against the commutator, an extension of the armature. To facilitate the proper order of current flow, the commutator gathers all of the armature coil terminations and spreads them in a circular pattern.
The term "series-wound" refers to the entire motor when the armature and field windings are linked in series. Low resistance armature and field circuits are features of series-wound DC motors. Because of Ohm's law, the current is strong when voltage is added to it. High current has the benefit of producing powerful magnetic fields within the motor, which results in high torque (turning force), making it perfect for starting a train.
In this area, the Chinese government is concentrating its efforts on offering incentives to promote the sale of electric vehicles. For instance, India is working to increase the sales of electric vehicles, opening up chances for market expansion. In the following review period, further government initiatives to increase the sale of electric vehicles are anticipated to present chances for market growth. Nations are attempting to increase the sales of electric vehicles, which might help the sector grow. Buyers who adopt electric vehicles are given financial incentives by the Chinese government.
The China market dominated the Asia Pacific Electric Traction Motor Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,433.1 million by 2028.The Japan market is estimated to grow a CAGR of 11.5% during (2022 - 2028). Additionally, The India market would experience a CAGR of 12.8% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Electric Traction Motor Market is Projected to reach USD 23 Billion by 2028, at a CAGR of 11.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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., and Kawasaki Heavy Industries, Ltd.
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