Market Overview:
Traction inverter is also called as traction motor is a type of electric motor used to make rotation torque on a machine. The traction inventers are used to alter the energy as effectively as could be expected under the circumstances and make it accessible to drive motor. The market is anticipated to flourish in the future by growing at a significantly higher CAGR.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Prodrive Technologies (Netherlands), ABB (Switzerland), GE (United States), Schenider Electric (France), Advanced Energy Industries (United States), Nissan (Japan), BorgWarner Inc. (United States), TM4 Inc. (Canada), Delphi Technologies (United Kingdom), Curtiss-Wright (United States), Toshiba Corporation (Japan), Siemens AG (Germany), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan) and Hitachi Ltd. (Japan) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility |
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Manufacturers of Traction Inverter Market Study:
Prodrive Technologies (Netherlands), ABB (Switzerland), GE (United States), Schenider Electric (France), Advanced Energy Industries (United States), Nissan (Japan), BorgWarner Inc. (United States), TM4 Inc. (Canada), Delphi Technologies (United Kingdom), Curtiss-Wright (United States), Toshiba Corporation (Japan), Siemens AG (Germany), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan) and Hitachi Ltd. (Japan)
Traction Inverter Market Segment Analysis
Scope | Sub-Segments |
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Application / End User | Public Transportation, Electric Mobility, Industrial Equipment & Machinery and Other |
Type | AC Traction Inverter and DC Traction Inverter |
Technology | SiC,Si-IGBT |
End User | Electric Vehicle,Railway Locomotives,Escalators,Elevators,Other |
Influencing Trend:
Rise in Trend Related To Mechatronics
Market Growth Drivers:
Government Initiatives in Various Countries for Supporting the Use Electric Vehicles and Offering Incentives and Subsidies To Owner and Rise in Usage of Traction Inverter in Railways as a Semiconductor Devices
Challenges:
Lack of Skill Expertise
Restraints:
High Cost of Traction Inventers
Opportunities:
Rise in the Count of Electric Locomotives, Mushrooming Urbanization, and Refashioning Of Passenger Railcars and Shift of Focus Towards Advanced and Technical Version of Electric Mobility
Some of the other players that are also part of study are Sevcon (United Kingdom), Alstom (France), Strukton Rail (Netherlands), Voith GMbh (Germany), Vertiv (United States), Enphase Energy (United States), Fronius International (Austria) and Sungrow (China). The Global Traction Inverter market is gaining huge competition due to involvement of United States companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
In July 2022, Sensor control and subsystem company Curtiss-Wright has introduced the second generation of its traction inverters, which are designed for on-highway and off-highway commercial EVs and hybrids.
In October 2022,Curtiss-Wright Industrial division has announced that it will be using its stand at Bauma 2022 to promote its electrification portfolio including the recently-announced traction inverters and its charge switching units, and showcase its continued development of Human-Machine Interfaces (HMIs) designed in partnership with some of the world’s leading on- and off-highway vehicle OEMs.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Traction Inverter market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Traction Inverter market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Traction Inverter Manufacturing Companies, Consulting Companies In Power Sector, Component Manufacturers And Suppliers, Insulation Raw Material Suppliers, State- Or Government-Owned Corporations, Electric Utilities and Government And Research Organizations.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.