Date : November 2024
The global traction motor market size is estimated to hit around USD 32.58 billion by 2033, increasing from USD 12.79 billion in 2023 with a CAGR of 9.66% from 2023 to 2033. The top companies operating in the traction motor are Siemens AG, ABB Ltd., General Electric Company, Bosch Limited, Nidec Corporation, Toshiba Corporation, Hitachi, Ltd., Mitsubishi Electric Corporation, Rockwell Automation, Inc., Regal Beloit Corporation, Schneider Electric SE, WEG S.A., Hyundai Rotem Company, CRRC Corporation Limited, Dana Incorporated, and Others.
Report Coverage | Details |
Growth Rate from 2024 to 2033 | CAGR of 9.66% |
Market Size in 2023 | USD 12.79 Billion |
Market Size in 2024 | USD 14.04 Billion |
Market Size by 2033 | USD 32.58 Billion |
Largest Market | North America |
Base Year | 2023 |
Forecast Period | 2024 to 2033 |
Segments Covered | Type, Vehicle Type, End User, and Region |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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