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Published Date: 2016-09-01Number of Pages: 76

Railway Traction Motors Market (Type - Direct Current (D.C.) Traction Motors, Alternating Current (A.C.) Traction Motors, Synchronous Alternating Current (A.C.) Traction Motors; Application - Diesel Locomotives, Electric Multiple Units (EMUs), Electric Locomotives, Diesel-electric Locomotives ) - North America Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

North America Railway Traction Motors Market: Snapshot

The market for railway traction motors in North America is currently expanding at a steady pace. With the rising population in North America and the growing influx of foreign nationals in the region, the demand for enhanced transportation is escalating. Owing to this factor, the railway industry in North America is undergoing significant transformation. This has had a positive impact on the market for associated equipment. The value of the North America railway traction motors market was pegged at US$10.05 bn in 2015 and, registering a 3.1% CAGR from 2016 to 2024, is estimated to amount to US$13.21 bn by 2024.

North American railroading is majorly privatized and the industry consists of both local and international companies. Considering the rise in initiatives for electrification, the modernization of railcars, and the introduction of environment-friendly technologies, the market provides lucrative opportunities for manufacturers of railway traction motors.

Railway Traction Motors Most Widely Used in Diesel-electric Locomotives

Railway traction motors find application in diesel locomotives, electrical multiple units (EMUs), electric locomotives, and diesel-electric locomotives, among others. The diesel-electric locomotive segment is likely to account for a share of over 45% by 2024, retaining its position as the leading application segment throughout the forecast period. The diesel locomotives segment followed suit, also accounting for a considerable share in the North America railway traction motors market.

Although the electric locomotive segment is anticipated to account for a small share in the overall market, it is projected to register a high CAGR of 5.0% from 2016 to 2024. This has been identified by TMR as one of the most attractive application segments in terms of revenue.

north-america-railway-traction-motors-2016-market
 

Strong Presence of Manufacturers Benefits U.S. Market for Railway Traction Motors

On the basis of country, the North America market railway traction motors market comprises the U.S., Canada, and Mexico. The U.S. accounted for the leading share in the railways traction motors market in North America and is estimated to retain its dominance throughout the forecast period. Registering a 3.5% CAGR during the forecast period, the market is projected to generate just under US$8 bn by 2024. The strong presence of a large number of manufacturers in the country and their consistent efforts in developing improved traction motors have significantly benefited the market here. Large-scale urbanization and rising initiatives to electrify passenger railways have also provided the railway traction motors market in the U.S. significant impetus.

Canada is also a major market for railway traction motors but is presently expanding at a pace slower than that of the U.S. Transparency Market Research attributes this mainly to the limited electrification of rail networks in the country. However, the rising passenger traffic using rail services in Canada has driven railroad companies to adopt improved railway equipment, including railway traction motors. This is anticipated to help the market in Canada maintain a steady pace through 2024.

Mexico accounts for the least share in the North America railway traction motors market. However, new investments are projected to give this market a much-needed boost in the coming years. The railway traction motors market in Mexico also benefits from the North American Free Trade Agreement (NAFTA), which allows the country access to trade and technology from the developed economies of the U.S. and Canada.

Major companies operating in the North America railway traction motors market include ABB Ltd. Alstom S.A., Siemens AG, Bombardier Inc., Hynundai Rotem Company, Mitsubishi Electric Corporation, Skoda Transportation A.S., Hitachi Ltd., Sulzer Ltd., and VEM Sac


Section 1 Preface
1.1 Report Scope & Market Segmentation 
1.2 Research Highlights

Section 2  Research Methodology

Section 3 Executive Summary

Section 4 Market Overview
4.1 Product Overview
4.2 Market Introduction
4.3 Market Trends
4.4 Market Challenges

Section 5 Market Dynamics
5.1 Drivers and Restraints: Snapshot Analysis
5.2 Drivers
     5.2.1 Growing urbanization coupled with increase in freight rail set to boost market growth 
     5.2.2 Innovation in railway technologies boosts demand for traction motors 
     5.2.3 Modernization of passenger railcars 
5.2 Restraints
     5.2.1 Exceptionally low replacement market 
5.3 Opportunities
     5.3.1 Urbanization coupled with environmental concerns 
     5.3.2 Technology driven initiatives to improve railroading 
5.4 Value Chain Analysis
5.5 North America Railway Traction Motors Market Outlook 

Section 6 North America Railway Traction Motors Market Analysis: By Motor Type
6.1 Direct Current (D.C.) Traction Motors 
6.2 Alternating Current (A.C.) Traction Motors 
6.3 Synchronous Alternating Current Traction Motors 
6.4 North America Railway Traction Motors Market Attractiveness Analysis by Motor Type 

Section 7 North America Railway Traction Motors Market Analysis: By Application 
7.1 Diesel Locomotives 
7.2 Electric Multiple Units (EMUs)
7.3 Electric Locomotives 
7.4 Diesel-Electric Locomotives
7.5 North America Railway Traction Motors Market Attractiveness Analysis: By Application 

Section 8 North America Railway Traction Motors Market Analysis: By Country
8.1 U.S. Railway Traction Motors Market Analysis 
8.2 Canada Railway Traction Motors Market Analysis 
8.3 Mexico Railway Traction Motors Market Analysis

Section 9 North America Railway Traction Motors Market Analysis: Competitive Landscape
9.1 North America Railway Traction Motors Market Share Analysis by Company (2015)

Section 10 Company Profiles
10.1 Mitsubishi Electric Corporation
     10.1.1 Company Description & Details
     10.1.2 Business Overview
     10.1.3 SWOT Analysis
     10.1.4 Geographical Revenue Share
     10.1.5 Financial Overview
     10.1.6 Strategic Overview
10.2 Sulzer Ltd.
     10.2.1 Company Description & Details
     10.2.2 Business Overview
     10.2.3 SWOT Analysis
     10.2.4 Geographical Revenue Share
     10.2.5 Financial Overview
     10.2.6 Strategic Overview
10.3 ABB Ltd.
     10.3.1 Company Description & Details
     10.3.2 Business Overview
     10.3.3 SWOT Analysis
     10.3.4 Geographical Revenue Share
     10.3.5 Financial Overview
     10.3.6 Strategic Overview
10.4 Alstom S.A.
     10.4.1 Company Description & Details
     10.4.2 Business Overview
     10.4.3 SWOT Analysis
     10.4.4 Geographical Revenue Share
     10.4.5 Financial Overview
     10.4.6 Strategic Overview
10.5 Bombardier Inc.
     10.5.1 Company Description & Details
     10.5.2 Business Overview
     10.5.3 SWOT Analysis
     10.5.4 Geographical Revenue Share
     10.5.5 Financial Overview
     10.5.6 Strategic Overview
10.6 Hyundai Rotem Company
     10.6.1 Company Description & Details
     10.6.2 Business Overview
     10.6.3 SWOT Analysis
     10.6.4 Geographical Revenue Share
     10.6.5 Financial Overview
     10.6.6 Strategic Overview
10.7 Siemens AG
     10.7.1 Company Description & Details
     10.7.2 Business Overview
     10.7.3 SWOT Analysis
     10.7.4 Geographical Revenue Share
     10.7.5 Financial Overview
     10.7.6 Strategic Overview
10.8 VEM Sachsenwerk GmbH 
     10.8.1 Company Description & Details
     10.8.2 Business Overview
     10.8.3 SWOT Analysis
     10.8.4 Geographical Revenue Share
     10.8.5 Financial Overview
     10.8.6 Strategic Overview
10.9 Skoda Transportation a.s.
     10.9.1 Company Description & Details
     10.9.2 Business Overview
     10.9.3 SWOT Analysis
     10.9.4 Geographical Revenue Share
     10.9.5 Financial Overview
     10.9.6 Strategic Overview
10.10 Hitachi Ltd.
     10.10.1 Company Description & Details
     10.10.2 Business Overview
     10.10.3 SWOT Analysis
     10.10.4 Geographical Revenue Share
     10.10.5 Financial Overview
     10.10.6 Strategic Overview

List of Figures

FIG. 1 Report Scope
FIG. 2 Market Size, Indicative (USD Bn)
FIG. 3 Market Size, By Country (USD Bn)
FIG. 4 Growth Trend, By Country, 2015 – 2024
FIG. 5 Market Share, By Country, 2015 & 2024
FIG. 6 U.S. Passenger Miles Travelled by Rail Type, 2009 – 2014
FIG. 7 Canada Passenger Miles Travelled by Rail Type, 2009 – 2014
FIG. 8 North America Value Chain Analysis
FIG. 9 Market Value Share By Motor Type (2015)
FIG. 10 Market Value Share By Application (2015)
FIG. 11 Market Value Share By Country (2015)
FIG. 12 North America Market Value Share Analysis By Motor Type, 2016 and 2024
FIG. 13 D.C. Traction Motors Market, 2015 – 2024, USD Bn
FIG. 14 A.C. Traction Motors Market, 2015 – 2024, USD Bn
FIG. 15 Synchronous A.C. Traction Motors Market, 2015 – 2024 , USD Bn
FIG. 16 Market Attractiveness Analysis (2015) By Motor Type
FIG. 17 North America Market Value Share Analysis By Application, 2016 and 2024
FIG. 18 Diesel Locomotives Market, 2015 – 2024, USD Bn
FIG. 19 Diesel – Electric Locomotives Market, 2015 – 2024, USD Bn
FIG. 20 Electrical Multiple Units (EMUs) Market, 2015 – 2024, USD Bn
FIG. 21 Electric Locomotives Market, 2015 – 2024, USD Bn
FIG. 22 Market Attractiveness Analysis (2015) By Application
FIG. 23 U.S. Railway Traction Motors Market, 2015 – 2024, USD Bn
FIG. 24 Canada Railway Traction Motors Market, 2015 – 2024, USD Bn
FIG. 25 Mexico Railway Traction Motors Market, 2015 – 2024, USD Bn
FIG. 26 North America Railway Traction Motors Market Share Analysis By Company (2015)

List of Tables

Table 1 North America Market Size (USD Bn) Forecast, By Motor Type, 2015 – 2024
Table 2 North America Market Size (USD Bn) Forecast, By Application, 2015 – 2024

The market for traction motors is growing at varied pace across different geographical regions. In North America, the market is currently expanding at a steady pace, majorly driven by demand from the U.S. and Canada. The market for traction motors in the region is expected to undergo significant transformation owing to increasing research and development for enhancement of railway systems in the region. Moreover, emphasis on improving performance, reducing operating expenditures, maintaining regulatory standards, and customer demand for comfort are impacting the market for railway traction motors in North America. The North America market for railway traction motors is highly consolidated, due to the presence of numerous domestic and international manufacturers. Competition in the market among manufacturers is intense and thus, the entrance of new players is not swift.

Traction motors are the most important component that primarily drives propulsion in road and rail vehicles. These electrical motors are categorized into three types: direct current (D.C.) traction motors, alternating current (A.C.) traction motors, and synchronous alternating current traction motors. Although the diesel locomotives are gradually shifting towards diesel – electric locomotives, the former still accounts for a significant share in North America. Owing to the continuous developments, the demand for traction motors, especially, A.C. traction motors is on a surge in the region. Urbanization coupled with technological developments is major drivers of the traction motors market in North America. Although railways in the region are majorly accounted for by freight rails, there has been a steady growth in passenger railways as well. In a bid to keep up with other geographical markets, especially Europe, North American infrastructure is expected to gradually shift more towards electrification of the railways, particularly for passenger rails. This shift is expected to boost the market for traction motors over the forecast period.

In railways, traction motors are used in various locomotives such as diesel, diesel-electric, electric and electrical multiple units (EMUs) among others. Conventionally, the key source of energy used in locomotives across North America is diesel. However, the U.S. Environmental Protection Agency (EPA) mandates to reduce pollution are compelling the rail industry to focus on alternate sources of energy such as electricity, liquefied petroleum gas, and hydrogen among others. The market for traction motors is expected to continue growing at a substantial pace over the period of forecast, following the ongoing changes in railway transportation technologies, growing investments in development of high speed railway corridors, emphasis on passenger rails, and intensifying competition among manufacturers.

The report includes, analysis of macro and micro economic factors driving and restraining the growth of the North America railway traction motors market. Moreover, the market attractiveness analysis provided in the report, highlights the major areas for future investments in the North America railway traction motors industry. Value chain analysis of the railway traction motors market in North America is also provided in the report to present a comprehensive idea of the different entities operating in the industry. The report is intended to help traction motor suppliers and original equipment manufacturers (OEMs) in understanding the current and upcoming opportunities in the North America railway traction motors market and formulating their business strategies accordingly. In addition, the report is expected to benefit the governments, railroad organizations and other buyer communities.

This study includes the profiles of the major players in the North America railway traction motors market and the different strategies adopted by them to enhance growth and sustain in the competition. Moreover, strength, weakness, opportunity and threats (SWOT) analysis for each company has been included under the research scope. The key participants in the North America railway traction motors market include ABB Ltd. Alstom S.A., Siemens AG, Bombardier Inc., Hynundai Rotem Company, Mitsubishi Electric Corporation, Skoda Transportation a.s., Hitachi Ltd., Sulzer Ltd. and VEM Sachsenwerk GmbH among others.

North America Railway Traction Motors Market, 2016 – 2024: By Type

  • Direct Current (D.C.) Traction Motors
  • Alternating Current (A.C.) Traction Motors
  • Synchronous Alternating Current (A.C.) Traction Motors

North America Railway Traction Motors Market, 2016 – 2024: By Application

  • Diesel Locomotives
  • Electric Multiple Units (EMUs)
  • Electric Locomotives
  • Diesel-Electric Locomotives

North America Railway Traction Motors Market, 2016 – 2024: By Geography

  • North America
    • U.S.
    • Canada
    • Mexico


 
 
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