Railway Traction Motor Market 2019-2023 | Evolving Opportunities with ABB and Alstom | Technavio
LONDON--(BUSINESS WIRE)--Oct 23, 2019--
The global railway traction motor market is poised to grow by USD 2.37 billion during 2019-2023, progressing at a CAGR of almost 4% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global railway traction motor market 2019-2023. (Graphic: Business Wire)
Read the 124-page research report with TOC on “Railway Traction Motor Market Analysis Report by type (DC motors, AC motors, and synchronous motors), by geography (APAC, North America, Europe, MEA, and South America), and segment forecasts, 2019 - 2023”.
The market is driven by the demand for rail logistics due to rising trade activities. Also, the emergence of battery electric locomotives is anticipated to boost the growth of the railway traction motor market.
The trade industry is growing significantly through railways due to the high efficiency of rail transport over road transport and the rise of intermodal transportation. Furthermore, rail freight transportation is also more fuel-efficient when compared to road transportation. With the growth of trade activities through rail transport, the demand for railway traction motors is expected to increase in the coming years, which will drive market growth.
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Major Five Railway Traction Motor Market Companies:
ABB owns and operates businesses under various segments such as electrification products, robotics and motion, industrial automation, and power grids. The company offers both modular and frameless traction motors.
Alstom operates the business under four segments, which include rolling stock, services, systems, and signaling. The company offers asynchronous or synchronous, closed or open motors and different cooling and ventilation options along with winterization and tropicalization if required.
Bombardier has business operations under various segments, namely business aircraft, commercial aircraft, aerostructures and engineering services, and transportation. Some of the railway traction motor products offered by the company are MITRAC 500, MITRAC 1000, and MITRAC 3000.
GENERAL ELECTRIC operates the business under eight segments, which include power, aviation, healthcare, renewable energy, oil and gas, transportation, lighting, and capital. The company offers 5GE731ED3 DC traction motor, 733-H1 DC traction motor, 5GE741B1 DC traction motor, 733 DC traction motor, 763 DC traction motor, and 838F1 DC traction motor.
Siemens operates the business through the following segments: power and gas, digital factory, energy management, building technologies, mobility, process industries and drivers, Siemens Healthineers, Siemens Gamesa Renewable Energy, and Siemens Financial Services. The company offers individual traction motors, including coupling and gearbox, to complete drive trains.
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Railway Traction Motor Type Outlook (Revenue, USD Million, 2019 - 2023)
Railway Traction Motor Regional Outlook (Revenue, USD Million, 2019 - 2023)
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INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS RAIL AUTOMOTIVE ENGINEERING OTHER ENERGY TRANSPORT MANUFACTURING ENERGY LOGISTICS/SUPPLY CHAIN MANAGEMENT
SOURCE: Technavio Research
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PUB: 10/23/2019 06:30 AM/DISC: 10/23/2019 06:30 AM