Automotive Traction Motor Market to reach $32.28 Bn by 2028: COVID Impact, Trends and Forecast

Automotive traction motor Market: Key Players include ABB, American systems, Hitachi, and Hyundai.

Evolve Business Intelligence, today has published a new market research report on “The global automotive traction motor market size was valued at $3.26 Billion in 2020 and is expected to reach $32.28 Billion by 2028 growing at the CAGR of 33.04% from 2021 to 2028.

For more information on the report:

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Automotive traction motor market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

In terms of COVID 19 impact, the Automotive traction motor market report also includes the following data points:

  • COVID19 Impact on Automotive traction motor market size
  • End-User/Industry/Application Trend, and Preferences
  • Government Policies/Regulatory Framework
  • Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
  • Opportunity in Automotive traction motor market

Analyst View
According to Parimal, Principal Analyst, Evolve Business Intelligence, “the recent COVID scenario had negatively impacted the market. Due to the lockdown imposed in world, the manufacturing units had been temporarily closed. The major workforce had gone to their native land, causing the shortage of skilled labor in motor industries. Traction motor are mainly used in train engine, but due to lockdown and closing down of railway, the demand had stopped the process of technology advancements.”

Competitive Scenario
Some of the major Automotive traction motor players holding high market share include ABB, American systems, Hitachi, and hyundai. These players use partnership and agreement as a key strategy to gain significant market share to compete with market leaders.

Segmental Analysis
Automotive traction motor market is analyzed across the below-mentioned segments:

  • Type
    • AC
    • DC
  • Application
    • Railways
    • Electric Vehicle
    • Others

Report Coverage
The study also contains a comprehensive value chain, as well as details on the key factors affecting the market growth (drivers, constraints, and opportunities). Furthermore, the report includes 10 key players in the Automotive traction motor market ecosystem that have been strategically profiled, along with the market ranking/share for major players. Under the company profile section, the company’s core competencies have been comprehensively analyzed, along with detailing the competitive landscape for the market players, and the strategies such as partnerships and collaboration, acquisitions, product launches and developments, contracts, and business expansion adopted by them to grow in the market.

The key players profiled in the report are:

  • ABB
  • American Traction Systems
  • Hitachi
  • Hyundai Rotem
  • CRRC
  • Mitsubishi
  • Siemens
  • Skoda
  • Toshiba
  • Wabtec

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Research Methodology
This research study makes substantial use of secondary sources, archives, and databases (such as annual reports, news releases, magazines, Trademap, company websites, and other paid databases) to classify and gather information valuable for this analysis. The entire process involves a review of top industry participants’ financial records. Following the determination of the overall market size, the total market was divided into several segments and sub-segments, and this information was then verified through key industry specialists such as CEOs, directors, VPs, and marketing executives.

Report Objectives

  • To define, describe, and forecast the Automotive traction motor market, in terms of value, segmented on the basis of indication, type, technology, and geography
  • To forecast the market size across 4 key regions—Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW)
  • To provide detailed information regarding drivers, restraints, and opportunities, in the Automotive traction motor market
  • To provide an overview of the value chain analysis pertaining to the Automotive traction motor industry
  • To strategically analyze each segment and subsegment with respect to individual overall growth trends and their contribution to the overall Automotive traction motor market
  • To analyze opportunities in the market by identifying high-growth segments of the Automotive traction motor market
  • To profile key players in the Automotive traction motor market and comprehensively analyze their core competencies
  • To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global Automotive traction motor market

About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.

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