Global Market Size of Electric Traction Motor Market – 10 Year Market Forecast

Energy & Power

Electric Traction Motor Market Size Forecast 2022-2029

Growing at a CAGR of 14%, the market value of the global electric traction motor market is estimated to be USD 47.08 billion in 2022 and USD 114.31 billion by 2029. The cumulative market size value of the electric traction motor market is USD 642 billion during the forecast period of 2022 to 2029. North America is the largest market for electric traction motors and is expected to account for the majority of the market shares. Railways are estimated to be the most widely used application representing a relatively larger share of the market. AC is the major type of electric traction motor with the highest growth rate in the segment.

Frequently Asked Questions(FAQ)

• What is Global Market Database?

• Global market database is a market research and intelligence tool that provides secondary market information across various business units including electric traction motor.
• What is the expected value of the first year market size for electric traction motor market?

• The expected value of the first year market size for electric traction motor market is USD 47.08 billion.
• By type, which segment is expected to dominate the market by 2029?

• By type, the AC segment is expected to dominate the market by 2029.
• What are the various applications of electric traction motor market?

• The various applications of electric traction motor market are railways, electric vehicle and others.
• What is the CAGR of electric traction motor market?

• The CAGR of electric traction motor market is 14%.

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