1 Global Railway Traction Motor Market Outlook
The global Railway Traction Motor market is projected to exhibit substantial growth in the coming years, with a CAGR of 2% from 2024 to 2033, reaching a total market size of $1358.30 million USD in 2024. Railway traction motors are essential for converting electrical energy into mechanical energy to propel trains, and they come in various types, including DC traction motors, AC traction motors, and permanent magnet synchronous motors (PMSM). These motors are used in high-speed trains, multiple units, urban systems, and other railway applications.
Figure Global Railway Traction Motor Market Size and Growth Rate (2024-2033)
2 Railway Traction Motor Market Growth Drivers and Constraints
The market growth is driven by several factors. The increasing demand for efficient and reliable railway transportation systems is a primary driver. As global trade and passenger traffic continue to rise, the need for robust railway infrastructure and efficient traction motors to power these systems becomes more pronounced. Additionally, the push towards sustainable and environmentally friendly transportation solutions has led to a greater focus on electric traction systems, which in turn drives the demand for railway traction motors. Governments around the world are also investing in railway infrastructure development, which further stimulates the market growth. For instance, the Indian government’s initiative to electrify its railway network has led to a significant demand for traction motors.
However, the market also faces certain limitations. The high initial investment and maintenance costs associated with traction motors can be a barrier to entry for some players, especially small and medium-sized enterprises. The complexity of the technology and the need for specialized expertise in design and manufacturing also contribute to the high costs. Moreover, the long project development and execution timelines in the railway sector can lead to delays and uncertainties, which affect the demand for traction motors. The fluctuation in raw material prices, such as wire, mica, resin, and composite materials, can also impact the profitability of manufacturers.
3 Railway Traction Motor Market Innovations and M&A Activities
Technological innovation in the railway traction motor market is focused on improving efficiency, reducing maintenance, and enhancing reliability. The development of PMSM has been a significant technological advancement, offering higher power density and efficiency compared to traditional induction motors. This technology is more compact and lightweight, making it suitable for modern high-speed and urban railway systems. Companies are also investing in research and development to improve the manufacturing processes, reduce costs, and increase the lifespan of the motors. In terms of corporate mergers and acquisitions, the market has seen strategic moves aimed at strengthening the position of companies in the industry. For example, the planned takeover of Traktionssysteme Austria GmbH by Voith Group and PCS Holding in 2020 is expected to enhance their capabilities in drive technology for rail and road vehicles. Such mergers and acquisitions can lead to economies of scale, improved technological capabilities, and a broader product portfolio, which can benefit the overall market development.
In conclusion, the global railway traction motor market is poised for steady growth, driven by the increasing demand for efficient railway transportation and the push towards sustainable solutions. While challenges such as high costs and technological complexity exist, ongoing innovations and strategic corporate moves are expected to shape the future of the market, ensuring its continued relevance and growth in the railway industry.
4 Global Railway Traction Motor Market Analysis by Type
In 2024, the global railway traction motor market is forecasted to have a total revenue of 1358.30 million USD. Among the different types of traction motors, DC traction motors are expected to generate a revenue of 237.97 million USD, accounting for 17.52% of the total market share. AC traction motors are projected to have a revenue of 925.86 million USD, which is 68.16% of the total market share. PMSM (Permanent Magnet Synchronous Motors) are anticipated to contribute a revenue of 194.47 million USD, holding a market share of 14.32%. This distribution reflects the ongoing trend of market share among the different types of traction motors, with AC traction motors maintaining a dominant position, followed by PMSM and DC traction motors.
Table Global Railway Traction Motor Market Size and Share by Type in 2024
Type | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
DC Traction Motors | 237.97 | 17.52% |
AC Traction Motors | 925.86 | 68.16% |
PMSM | 194.47 | 14.32% |
5 Global Railway Traction Motor Market Analysis by Application
In 2024, the global railway traction motor market is forecasted to generate a total revenue of 1358.30 million USD. Among the various applications, high-speed trains are expected to contribute a revenue of 354.65 million USD, representing 26.11% of the total market share. Multiple units are projected to have a revenue of 502.81 million USD, accounting for 37.02% of the market share. Urban systems are anticipated to generate a revenue of 239.06 million USD, which is 17.60% of the total market share. Other applications are expected to contribute a revenue of 261.78 million USD, holding a market share of 19.27%. This forecast indicates a stable distribution of market share across different applications, with multiple units and high-speed trains being the leading segments in terms of revenue contribution.
Table Global Railway Traction Motor Market Size and Share by Application in 2024
Application | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
High-speed Trains | 354.65 | 26.11% |
Multiple Units | 502.81 | 37.02% |
Urban Systems | 239.06 | 17.60% |
Others | 261.78 | 19.27% |
6 Global Railway Traction Motor Market Analysis by Region
In 2024, the global railway traction motor market is forecasted to have a total revenue of 1358.30 million USD. The distribution of this revenue across different regions is as follows: North America is expected to contribute 176.91 million USD, which is 13.02% of the total market share. Europe is projected to have a revenue of 401.65 million USD, accounting for 29.57% of the market share. The Asia-Pacific region is anticipated to generate 667.25 million USD, representing 49.12% of the total market share. South America is expected to contribute 48.49 million USD, holding a market share of 3.57%. The Middle East and Africa are forecasted to have a revenue of 64.00 million USD, which is 4.71% of the total market share. This forecast highlights the significant contribution of the Asia-Pacific region to the global market revenue, followed by Europe and North America, while South America and the Middle East and Africa have relatively smaller shares.
Figure Global Railway Traction Motor Market Share by Region in 2024
7 Top 3 Companies of Global Railway Traction Motor Market
7.1 CRRC Zhuzhou Electric
Company Introduction and Business Overview:
CRRC Zhuzhou Electric, established in 1992, is a leading enterprise in the field of traction motors and transformers under CRRC. The company is dedicated to providing high-quality, cost-effective solutions in the areas of wind generators, industrial motors, and transformers. With a strong focus on technical efficiency and innovation, CRRC Zhuzhou Electric has become a significant player in the global railway traction motor market. The company’s manufacturing base is located in China, and it has a global sales network, ensuring that its products reach customers worldwide.
Products Offered:
CRRC Zhuzhou Electric offers a range of railway traction motors, including the JD160 series AC asynchronous traction motor. This motor is designed for six-axle 120km/h high-power freight locomotives, with a single-axle power of 1200kw. It features a high leakage resistance electromagnetic scheme, large starting traction, and a wide constant power speed range. The motor also has an inorganic shell composite welding structure that improves heat dissipation performance and a high noise immunity squirrel cage rotor structure to ensure the reliability of high-speed rotating rotors.
Production Value in the Latest Year:
CRRC Zhuzhou Electric’s production value reached 196.03 million USD, with a gross margin of 19.59%. The company’s production volume was 10,528 units, and the price per unit was 18,619 USD. This demonstrates the company’s strong market position and its ability to maintain profitability in a competitive market.
7.2 CRRC Yongji Electric
Company Introduction and Business Overview:
CRRC Yongji Electric, founded in 1969, is a subsidiary of CRRC Corporation Limited. It is a national-level innovative enterprise specializing in the development of electric drive products and providing electric drive system solutions for global users. The company is a professional traction electric drive system provider in the fields of transportation and energy in China, with a focus on chemical research and development.
Products Offered:
CRRC Yongji Electric’s product lineup includes the YJ312A high-speed EMU permanent magnet traction motor, designed for high-speed EMUs with a speed of 400 kilometers per hour. The motor has a traction power of 800kW, a rated voltage of 2808V, a rated current of 178.5A, a rated frequency of 279.15Hz, and a weight of no more than 750kg. This motor represents the company’s commitment to high-performance and efficient traction solutions.
Production Value in the Latest Year:
CRRC Yongji Electric’s production value was 138.69 million USD, with a gross margin of 19.22%. The company produced 7,523 units, with a price per unit of 18,436 USD. This reflects the company’s continuous investment in research and development and its ability to deliver high-quality products to the market.
7.3 Siemens
Company Introduction and Business Overview:
Siemens, established in 1847, is a global powerhouse focusing on the areas of electrification, automation, and digitalization. As one of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. The company’s business is spread across Europe and Asia, with a global sales network.
Products Offered:
Siemens offers a wide range of railway traction motors that are used in various types of trams, from light rail vehicles to high-speed trains and powerful locomotives. The company’s expertise in manufacturing and high-quality products has been certified by ISO/TS 22163 (IRIS International Railway Industry Standard) and Q1 (Highest Quality Rating for German Railways). Siemens can produce motors and drives in many countries/regions to meet customer needs, and its service network covers the world.
Production Value in the Latest Year:
Siemens’ production value in the railway traction motor market was 113.90 million USD, with a gross margin of 21.69%. The company produced 5,178 units, with a price per unit of 21,996 USD. This highlights Siemens’ strong market position and its ability to maintain a high level of quality and service in the global market.