Dublin, June 19, 2023 (GLOBE NEWSWIRE) -- The "Railway Traction Motors: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Railway Traction Motors Market to Reach $14.6 Billion by 2030
The global market for Railway Traction Motors estimated at US$9.5 Billion in the year 2022, is projected to reach a revised size of US$14.6 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2022-2030.
DC Motors, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$7.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the AC Motors segment is readjusted to a revised 5.3% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.8 Billion, While China is Forecast to Grow at 7.5% CAGR
The Railway Traction Motors market in the U.S. is estimated at US$1.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.7 Billion by the year 2030 trailing a CAGR of 7.5% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 3.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.7 Billion by the year 2030.
Looking Ahead to 2023
Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 433 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $9.5 Billion |
| Forecasted Market Value (USD) by 2030 | $14.6 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession; Living with COVID-19, the New Normal
- Stagflation and Risk of Recession: New Challenges Emerge for the Global Market in 2022 & 2023
- World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
- Manufacturing Growth Skews Upside amid Rising Prices & Supply Chain Hiccups
- Global PMI Index Points: Jan 2020 to Jan 2022
- A Core Vertical in Transportation Industry, Railways Record Losses in 2020
- Global Railways Market Growth Outlook (in %) for the Years 2019 through 2025
- Global Railways Market: % Annual Growth by Major Geographies for 2019-2025
- Rail Freight Transportation Comes Under Pressure Due to COVID-19 Pandemic
- Hurting Drop in Rail Cargo as COVID-19 Interrupts Transport Routes: Rail Freight Traffic Growth in the US (In %)
- Railways to Bounce Back in Post-COVID-19 Era
- Amidst Pandemic, Potential Opportunities Emerge in International Rail Travel
- Competition
- Railway Traction Motors - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Global Market Prospects & Outlook
- Developing Regions to Spearhead Long-term Growth
- An Introduction to Railway Traction Motors
- Types of Traction Motors in Locomotives
- AC Vs DC Systems
- Other Components Related to Rail Traction Motors
- Recent Market Activity
- Select Global Brands
MARKET TRENDS & DRIVERS
- New Railway Projects and Consequent Rise in Locomotive and Bogie Production to Present Growth Prospects for Traction Motors
- A Snapshot of Select Major Ongoing & Upcoming Projects Focused on Rail Freight Transport
- Rise in Rail Passenger and Freight Traffic: Potential for Growth
- Global Rail Passenger Traffic (in % Share) by Region for 2019 and 2022
- Focus on Development of Urban Rail Transport Infrastructure to Propel Rail Traction Motors Market
- A Snapshot of Select Ongoing and Upcoming Metro Rail Projects
- Worldwide Investments into Light Rail and Metro Rail Projects (in US$ Billion) by Region for the Period 2019-2025
- Expanding Metro Train Network Drives Demand for Metro Train Components
- EMUs and Metro Railways
- Advancements in Engines and Motors to Propel the Market
- Imperative Need to Replace Aging Diesel Locomotives to Reduce Emissions Supports Market Growth
- Diesel-Electric Locomotives Changing the World
- As Governments Focus on Development of High-Speed Trains and Bullet Trains, Railway Traction Motors Market to Benefit
- Select High-speed Rail in Europe in Development by Country
- High-Speed Rail Passenger Traffic (in Billion Passenger Kilometers) by Select Rail Networks for 2019
- Global Level of Deployment of High-Speed Rail Lines by Select Leading Countries
- Breakdown of Length of High-Speed Rail Network by Region: 2020
- World's Fastest Trains in Operation by Speed in Miles/hr: March 2021
- With Rail Freight Transport Being Indispensable for the Global Logistics Chain, Long-term Network Expansion Initiatives Bode Well for the Market
- World Trade Flows Determine Growth Dynamics of Rail Freight Transport Market, Setting Trends in the Traction Motors Market
- Development of Europe-Asia Railway Line and Resultant Rise in Trade Flows Augurs Well for the Market
- Advent of Solar Powered Trains Emerges as a Potential Driving Factor
- Growing Electrification of Rail Lines in Developing Economies Presents Growth Opportunity
- Concerns over Environmental Pollution and Need to Reduce Emissions Drive Demand for Efficient Railway Traction Motors
- Carbon Dioxide Emissions in Lbs Per Passenger by Transportation Mode
- Electric Traction Motors Market to Benefit from the Strengthening Trend towards Electric Locomotives
- Drive Systems Development
- Different Types of Electric Traction Systems
- Development of Diesel Engines Drive Focus onto Traction Motors
- AC Traction Units Hold an Edge Over DC Systems for Railways
- Advancements to Create Lighter, Smaller, and Efficient in Rail Traction Systems
- Monitoring of Rail Traction Monitoring Enables Timely Maintenance and Prevents Failures
- Aftermarket Presents Opportunities for Rail Traction Motors
FOCUS ON SELECT PLAYERS (Total 43 Featured)
- ABB Ltd.
- ALSTOM Holdings SA
- Bharat Heavy Electricals Limited
- Bombardier Inc.
- Caterpillar Inc.
- Hitachi Industrial Products, Ltd.
- Hyundai Motor Group
- Mitsubishi Electric Corporation
- Saini Group
- Siemens AG
- Sulzer Ltd.
- Toshiba International Corporation
- Traktionssysteme Austria GmbH
- VEM Group
For more information about this report visit https://www.researchandmarkets.com/r/sjy67j
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