What does an Electric Traction Motor mean?
An electric traction motor that transforms electrical energy into torque energy and is linked to a shaft to provide linear motion. Moreover, an electric traction control system in the motor helps in pausing or limiting the speed of the wheels of a vehicle. Due to the large weight of automobiles, traction motors are commonly employed to operate huge vehicles such as locomotives, trains, and industrial machinery. These are also utilized in elevators and conveyors. Market database suggests that geared electric traction elevators are gearless electric traction elevators of two types of electric traction elevators. These motors provide a number of advantages, including low noise, high reliability, and low maintenance.
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How growing concerns regarding vehicle emissions are encouraging the use of electric traction motors?
Transportation nowadays accounts for roughly a quarter of direct CO2 emissions, making it a significant source of pollution. The transportation sector recognizes the need to transition from conventional fuel vehicles to electric and hybrid vehicles that are more ecologically friendly in order to minimize emissions from motor vehicles. By using electric traction motors for propulsion instead of gasoline, EVs can provide several environmental benefits over internal combustion engine vehicles. Governments throughout the world are implementing various incentive programs to encourage the commercial deployment of this new, greener technology in order to decarbonize the transportation sector.
For instance, according to market database in 2021, New Zealand country came up with a ‘The Clean Car Discount’ scheme. Under this scheme, electric and low-emission cars will be cheaper for the country’s buyers. Moreover, The Ministry of Heavy Industries launched the FAME INDIA scheme to encourage the adoption of electric and hybrid vehicles in India. Currently, phase 2 of the FAME India Scheme is being implemented for a 5-year term, beginning in April 2019. This phase intends to assist the electrification of public and shared transportation, as well as offer subsidies for 5,000 e-4 Wheeler Passenger cars, and 7090 e-buses. Global Market Database helps analyse the key electrification trends within the global markets. The overall competitive mapping for this sector can be analyzed using the Global Market login.
The development of electric vehicles has reached the pinnacle of “national strategy” in some countries. For instance, California was the first state to propose a zero-emission vehicle (ZEV) sales requirement for heavy-duty trucks in 2020. From 2024 onwards, the Advanced Clean Truck Regulation will be in place. The Netherlands and the other nations are pioneering deployment initiatives for zero-emission commercial vehicle zones. Thereby, electric vehicle sales have increased considerably over the previous few years, owing to supporting regulations and technological advancements.
Global Market Analysis suggests that factors driving the electric traction motor market are due to a growing emphasis on high-speed railways, as well as an expanding metro rail network. As per Global Market Database, it has been observed that Japan, Europe, and Russia have the most electric railway traffic, whereas South America continues to rely primarily on diesel. Passenger rail is significantly more electrified compared to freight train in almost all regions. The regions that rely on urban and high-speed rail have the highest proportion of passenger kilometers served by electricity. For instance, Market research tools suggest that in April 2021, Alstom, India’s multinational sustainable mobility provider with a broad range of services, had delivered the 100th electric rail to Indian Railway Network.
Conclusively, market database indicates all the above-mentioned factors are accelerating the electric traction motor market demand at a rapid pace. Business Intelligence Platforms like Global Market Database can be used to analyze the overall market trends across global markets.
Besides, having an increasing demand for electric traction motors, the fluctuating prices of raw materials such as copper, magnets, aluminum, and other materials used in the manufacturing of electric traction motors are expected to limit the electric traction motor’s growth. In addition to it, the outbreak of the COVID-19 pandemic had a significant influence on the global electric traction motor. The spread of the infection has hampered global economic growth, as well as automotive sales in the first half of 2020. Furthermore, disruptions in the electric traction market’s supply chain due to rigorous movement restrictions are projected to have an impact on the industry’s profitability.
Asia Pacific Market Developments
Market research tools state that high demand for electric traction motors in the Asia Pacific region is due to its vast fleet of electric vehicles, rail, and metro projects. China, Japan, India, and South Korea are expected to dominate the region owing to the increase in electrification projects. Free Market research tools can be used to study the overall change in trends for the electrification market. Market research tools also suggest that besides electric vehicles, China and India are transitioning their railway projects from fossil fuel engines to electric engines.
For instance, Alstom completes seven metro projects in Shanghai, Chengdu, and Xi’an by January 2021. According to the Indian government, it plans to convert its entire railway network to electricity by 2024.
ABB India was awarded a contract worth USD 17.2 million to supply traction equipment to Chittaranjan Locomotives Works in India in February 2020. Under this contract, the Indian rail network would be electrified.
Nidec Corporation, a Japanese electric motors manufacturer had planned to invest USD 1.8 billion in EV powertrains in February 2020, which will boost the need for millions of electric motors for cars. By establishing three new production sites in Poland, China, and Mexico, the corporation expanded its geographical footprint.
As a result of the aforementioned efforts, the region is expected to witness a huge market demand for electric traction motors during the forecast era.
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