About Electric Traction System
Electrical traction is defined as the system that uses electrical power for traction system such as railway, trams, and trolleys. Furthermore, electric traction means locomotion in which the driving force is obtained from electrical motors. The global demand for electric traction systems has witnessed a steady rise in the past few years. Factors such as modernization of passenger railcars and growing urbanization, coupled with an increase in electric locomotives, have primarily been the key driving forces for the market in the past few years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The ETS landscape is exciting, with continuous innovation and fierce competition driving advancements in efficiency, sustainability, and cost-effectiveness. As the transportation sector embraces electrification, expect even more players to emerge and the boundaries of technology to be pushed further, ultimately benefiting passengers and the environment. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Electric Traction System market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB, Ltd. (Switzerland), Delphi Automotive LLP (United States), Siemens AG (Germany), Voith GmbH (Germany), Schneider Electric SE (France), Mitsubishi Electric Corporation (Japan), The Curtiss-Wright Corporation (United States), Toshiba Corporation (Japan), Prodrive Technologies (Netherlands), General Electric, Co. (United States), Bombardier Inc. (Canada), CG Power and Industrial Solutions Ltd. (India), American Traction Systems (United States), Caterpillar Inc. (United States), VEM Group (Germany), TTM Rail - Transtech Melbourne Pty Ltd. (Australia) and Traktionssysteme Austria GmbH (Austria) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Kawasaki Heavy Industries Ltd. (Japan), Hyundai Rotem Company (South Korea), Ansaldo Signalling (Italy) and Hitachi, Ltd. (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Electric Traction System market by Type (Electric Traction Transformer, Electric Traction Motor, Electric Traction Generator, Electric Traction Inverter, Electric Traction Converter and Others), Application (Railways, Automotive, Oil & Gas, Power Engineering/Electrical Engineering and Mining) and Region.
On the basis of geography, the market of Electric Traction System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End user, the sub-segment i.e. Automotive will boost the Electric Traction System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Innovation Aimed At Improving Manufacturing Process
Market Growth Drivers:
Increasing Investment in Railway Sector
Challenges:
Lack of Skilled Labor
Restraints:
Volatility in Raw Material Prices
Opportunities:
Rise in the Count of Electric Locomotives, Mushrooming Urbanization, and Refashioning Of Passenger Railcars
Market Leaders and their expansionary development strategies
In December 2023, Siemens Mobility and Ford partner on electrified truck development. This groundbreaking partnership combines Siemens' electric traction expertise with Ford's truck manufacturing prowess to accelerate the transition to electric commercial vehicles.
In July 2023, Bombardier launches TRAXX Africa locomotive for freight transport designed for harsh environments and heavy loads, this electric locomotive caters to the growing demand for sustainable freight solutions in Africa.
Key Target Audience
Electric Traction System 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
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.