WiseGuyReports have announced the addition of a new report titled “2019 Global and Regional Railway Traction Motors Market Research Report Forecast 2025”.
PUNE, MAHARASHTRA, INDIA, November 6, 2019 /EINPresswire.com/ — Report Overview:
In the beginning, the report references a comprehensive analysis and forecast of the Railway Traction Motors market on a global as well as regional level. The report delivers complete data from 2019 to 2025 based on the income generation and historical, existing, and predicted growth in the market in terms of the market value and volume. Moreover, the report contains noteworthy changes taking place in the market features over the review period. A distinctive analysis of impactful trends in the Railway Traction Motors market, verifiable projections, along with macro and micro-economic indicators, regulations, and mandates are also incorporated in the report. By doing so, the report casts light on the appeal of each significant segment of the market over the forecast period.
The forecast and evaluation of the Railway Traction Motors market have been studied on both a regional, as well as global basis. Based on the region, the xx market is reviewed in Asia Pacific (APAC), North America, the Middle East and Africa (MEA), Europe, and Latin America (LATAM).
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Drivers and Constraints
The report includes a thorough analysis of significant factors that impact the Railway Traction Motors market significantly. The report accurately shares details regarding the factors that are driving, challenging, and restraining the growth of the Railway Traction Motors market over the evaluation period. It also comprises the changing aspects that are expected to create potential opportunities for the significant market players to acquire a comprehensive insight of the market.
The market report has been derived with the use of numerous primary (interviews, observations, surveys) as well as secondary (journals, and industrial databases) sources to identify and deduce appropriate data for this all-inclusive commercial, market-oriented, and methodological estimation. Porter’s Five Force Model is also used to define the market evaluation precisely and to verify the several strengths and weaknesses, as well as opportunities, and threats (SWOT analysis), and several quantitative and qualitative studies related to the market.
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The report covers a broad study of the competitive scenario of the Railway Traction Motors market and the current trends that are expected to impact the market. It identifies vital market players of the market, comprising of both key and emerging players. The report consists of the corporations in the market share study to offer a more comprehensive overview of the key market players. Furthermore, the report also contains significant strategic developments of the market, such as new product launch, acquisitions & mergers, partnerships, agreements, research and development collaborations, and joint ventures, along with notable growth policies of key market players on a regional and global basis.
Traction motor is an electric motor which acts as a propulsion device for a vehicle generating rotational torque on a machine. They are used in electrically powered rail vehicles and other electrical vehicles including, elevators, electric milk float and trolleybuses. Railway traction motors are used in Electrical Multiple Units (EMUs), Diesel locomotives, electric locomotives, diesel-electric locomotives, and hybrid electric locomotives.
The global railway traction motor market was USD 24.95 billion in 2018 and is estimated to reach USD 31.55 billion by 2025 at a CAGR of 3.41% during the forecast period
Growth by Region
Europe is the market leader in 2018, because of the increasing demand for electrification of automobiles. Its dominance will continue to lead during the forecast period owing to huge investments in advanced railway technologies by European nations. Asia Pacific follows Europe with China to be a growing prospect due to the rising demand for high speed railways. Market advancement in North America can be attributed to improving railway infrastructure in the US, growing demand for freight trains and urban transportation systems in Brazil contributes towards growth in Latin America.
Drivers vs Constraints
Some of the primary factors driving the market growth of global railway traction motors includes increasing electrification of automobiles, rising need for efficient power consumption and emphasis on improving performance. The use of traction motors in railway engines, low manufacturing and maintenance costs coupled with low emission of greenhouse gases are some of the other factors that increases the market growth. The technological advancements in the railroad sector as well as the ongoing R&D are paving the path for future growth for traction motors.
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Source: EIN Presswire