How big is the Railway Traction Motor Market?

The Railway Traction Motor Market size is expected to reach USD 11.70 billion in 2024 and grow at a CAGR of 5.40% to reach USD 15.20 billion by 2029. Read More

What is the current Railway Traction Motor Market size?

In 2024, the Railway Traction Motor Market size is expected to reach USD 11.70 billion. Read More

Who are the key players in Railway Traction Motor Market?

ABB Ltd., Alstom SA, Mitsubishi Electric Corporation, Siemens and Hitachi Ltd are the major companies operating in the Railway Traction Motor Market. Read More

Which is the fastest growing region in Railway Traction Motor Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Railway Traction Motor Market?

In 2024, the Asia Pacific accounts for the largest market share in Railway Traction Motor Market. Read More

What years does this Railway Traction Motor Market cover, and what was the market size in 2023?

In 2023, the Railway Traction Motor Market size was estimated at USD 11.07 billion. The report covers the Railway Traction Motor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Railway Traction Motor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Railway Traction Motor Market Share

Statistics for the 2023 & 2024 Railway Traction Motor market share, created by Mordor Intelligence™ Industry Reports. Railway Traction Motor share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Railway Traction Motor Industry

The railway traction motor market is consolidated and led by globally and regionally established players. These companies adopt strategies such as new product launches, collaborations, and mergers to sustain their market positions. For instance,

In May 2023, Alstom NUG Propulsion System (ANP), Alstom's joint venture in China, introduced an innovative traction system on one of its trains. Passenger trial operations are currently being conducted in Chengdu, building on previous tests of the novel traction technology in Sweden.

This new traction system's successful deployment and ongoing trials highlight Alstom's commitment to advancing rail technology and expanding its capabilities in both the Chinese and global markets.