Saturday, May 28th, 2016 - Future Market Insights

Traction motors are electric motors consisting of stator, (stationary electrical part) surrounded by field coils which are connected by rotor or armature in a sequential form and basically used for driving the machinery. Traction motors market finds its application in escalators, elevators, locomotives, electric vehicles, washing machines and many other electronic products requiring torque for the initial propulsion. Traction motors are utilized to provide rotational or necessary torque to machines or engines. It is basically a DC or AC motor surrounded with field windings connected in series with armature. It is mounted on axle and supported with sleeve bearing. The largest application of traction motors market lies in transportation especially in diesel locomotive. Developments in hybrid vehicle technology where internal combustion engines generate power and the transmission takes place in electrical mode have led to considerable increase in demand of traction motors. High efficiency of traction motors is one of the unique propositions leading to their high adoption across aforementioned applications. On the other hand, under normal conditions traction motors are able to convert 90% of the electrical power into mechanical energy

Traction Motors Market: Drivers & Restraints

The increasing trend in the electrification of vehicles in the automotive industry which in turn has led to the increase in demand for electric components, is one of the major driving factor for the growth of traction motors market. The technological developments such as the development of regenerative brakes, increase in investments in R&D for specific requirements based on the applications of the traction motors, innovations in the hybrid electric vehicle technology and the increasing awareness for the emission reduction in the vehicles are steering the growth of traction motors market. Operational drawbacks such as overheating, commutation problems, insulation breakdown, etc. are some of the constraints for the traction motors market.

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Traction Motors Market: Segmentation

On the basis of application, traction motors market can be segmented into:

  • Transportation

  • Industrial machinery and equipment

  • Others

On the basis of end user, the traction motors can be segmented into:

  • Hybrid vehicles

  • Compact construction equipment

  • Escalators

  • Elevators

  • Other (Washing machines, Electric aircraft etc)

Traction Motors Market: Region-wise Outlook

Hybrid vehicles have started commanding significant share in automotive fleet across most of the developed countries and growing awareness regarding vehicle performance and emission reduction norms are catching attention from most of the automotive manufacturers across the developing countries. This trend is expected to further drive the demand for traction motors market across all the segments of automobiles. Global traction motors market is expected to closely follow the growth trend of industrial machinery and equipment market, however in developing economies it is projected to show promising above average growth between 6% and 8% over the next five years.

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Traction Motors Market: Key Players

Some of the leading players in the traction motors market are ABB, Aisin, Alstom, Continental, General Electric, Magna International, Mitsubishi, and Toshiba to name a few.

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