North America Electric Traction Motor Market Size, Share & Industry Trends Analysis Report By Power Rating (Below 200 kW, 200-400 kW and Above 400 kW), By Type (AC and DC), By Application (Railways, Electric Vehicle), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Electric Traction Motor Market would witness market growth of 11.2% CAGR during the forecast period (2022-2028).
The AC system enables speed control with switchgear on the truck and efficient power distribution along a rail line. Due to their fixed speed characteristic, AC induction motors and synchronous motors are simple and inexpensive maintenance, but difficult to employ for traction motors. An AC induction motor can only operate at a limited speed range, which is dictated by the design of the motor and the frequencies of the AC power source.
A locomotive can now use a variable frequency drive, which enables a broad range of speeds, AC power transfer, and tough induction motors without wearing elements like brushes and commutators. This is made possible by the development of power semiconductors. Before the middle of the 20th century, connecting rods very similar to those used on steam locomotives were frequently employed to drive many driving wheels by a single, huge motor. Examples include the DD1, FF1, and L5 of the Pennsylvania Railroad and the various Swiss Crocodiles.
EV sales have considerably increased recently in Canada, the US, and other nations, but still, constitute a small portion of all new car sales. According to the International Energy Agency, at the end of 2014, there were 665,000 electric vehicles on the road, up from 180,000 in 2012. The market share for light-duty cars in Canada is now 0.28 percent, based on the most recent data. Although electric vehicle (EV) technology has been available for a while, industry insiders believe that consumers are uninformed of the advantages of EVs over conventional cars with internal combustion engines (ICE).
The US market dominated the North America Electric Traction Motor Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,594.2 million by 2028.The Canada market is poised to grow at a CAGR of 13.4% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 13.1% 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 U.S., Mexico, Canada, and Rest of North America.
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.
Scope of the Study
Market Segments Covered in the Report:
By Power Rating
- Below 200 kW
- 200-400 kW
- Above 400 kW
- Electric Vehicle
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Kawasaki Heavy Industries, Ltd.
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