Electric Traction Motor Market Segment, Analysis, Forecast 2030
Electric Traction Motor Market Electric Traction Motor Market share is expected to reach USD 59 Billion by 2028, expanding at a compound annual growth rate (CAGR) of 23.04% during the forecast period. increased demand for energy efficient motors is expected to drive global Electric Traction Motor Market. Electric traction motors are used in powering electric vehicles and carrying heavy equipment. New railway track regulations and the shift to electric mobility can drive the winds of change and favor the adoption of these motors in legacy vehicles. The global electric traction motor market report by Market Research Future (MRFR) has been compiled by looking at various growth enablers and hurdles to be faced by the industry for the period of 2022 to 2030 (forecast period). The COVID-19 pandemic and its impact on the market has been explored in depth. Regional Analysis Asia Pacific (APAC) is the largest market for electric traction motors. Rising urbanization, demand from the railway...