Electric Traction Motor Market: 2021 COVID-19 Impact Sales Revenue, Development Strategy, Growth Potential, Analysis and Business Distribution
Market Highlights Electric traction motor is a type of electric motor which is used for propulsion of a vehicle. It is used in electrically powered rail vehicles such as electric multiple units and electric locomotives. Furthermore, traction motor is installed in fully hybrid and battery electric vehicles. Permanent magnet synchronous motor and asynchronous motors are two main types of traction motor which is currently driving the electric traction motors. Based on type, the market is segmented as AC motor and DC motor. AC segment is estimated to dominate the market during the forecast period due to its wide application in railways and electric vehicles. Increasing demand for electric vehicles and need for energy efficient motor worldwide would lead to growth in electric traction motor market. Considering the application, the market is segmented as railways, electric vehicles, elevators, conveyors, industrial machinery. Railways is the estimated to be the largest segment in e...