The traction motors market is poised for dynamic growth, fuelled by the expanding electric vehicle (EV) segment, increasing investment in railway infrastructure, and the ongoing transition toward sustainable urban mobility. Valued at USD 18,240 million in 2025, the market is projected to reach USD 51,580 million by 2035, progressing at a robust CAGR of 13.0% between 2025 and 2035. Rising environmental concerns and policy mandates for zero-emission transport are compelling both public and private sectors to adopt advanced electric propulsion systems.
Traction motors, which are the foundation for electric and hybrid drivetrains, are becoming more complex and efficient. PMSM, axial flux motors, and other high-performance variants are increasingly being incorporated into designs to drive torque density, thermal performance, and vehicle efficiency. These advances are allowing manufacturers to satisfy the growing demands of high-speed railways, electric buses, trucks, and passenger EVs all working in concert.
Additionally, government-backed efforts to upgrade mass transit infrastructure and electrify public transportation fleets should also support long-term demand. Continual growth in smart cities developments and a rise in autonomous and connected transport systems are also positively influencing the market attractiveness of energy-saving and smaller traction motor solutions.
As OEMs and component manufacturers double down on R&D efforts, and governments also ramp up the promotion of electric mobility, the traction motors market is expected to experience breakthrough innovation and large-scale adoption across multiple modes of transportation in the upcoming years.
As the world is on the path of transition towards electrification of mobility and industrial automation, traction motors market is poised to grow phenomenally. Based on application, the market is segmented into transportation, industrial machinery, and equipment, and others, and based on end users, it is segmented into hybrid vehicles, compact construction equipment, escalators, elevators, and others (washing machines, electric aircraft, etc.) Regional-European transportation segment is anticipated to remain the largest segment, driven by their core presence for enabling energy efficiency and carbon neutrality targets in any domain.
Transportation Segment Leads in Application, Driven by Electric Rail and E-Mobility Expansion
By 2025, the transportation segment is expected to hold a share of 58.7% of the entire traction motors market supported mainly by the growing installation of electric trains, metros, trams, and electric buses. Rail, light rail motors:tight environmental regulations, environmental protection concerns and government investment in electrified rail infrastructure and public transport systems in many regions are driving the adoption of high-torque / high-efficiency traction motors. Plus, the emergence of electric trucks and last-mile delivery vehicles further solidifies the upward trajectory for traction motors in transportation applications.
Hybrid Vehicles Dominate End-User Segment, Fueled by Demand for Fuel-Efficient Powertrains
It is anticipated that the hybrid vehicles will continue to remain the leading sub-segment in the end-user category, as they capture an anticipated 39.2% share of the market in 2025, due to their growing preference as a middle ground solution between conventional combustion engines and fully electric vehicles (EVs).
An integral part of hybrid systems, traction motors enable electric propulsion, regenerative braking, and torque assistance to enhance fuel economy. Demand for advanced hybrid traction motors is rising as key automakers expand hybrid line-ups to meet emission targets.
The North America traction motors market is growing at a healthy rate, aided by strong investments in electric transport infrastructure, increasing demand for electric and hybrid vehicles, and developments in rail electrification. The USA is the leading contributor to the regional market, owing to the sustaining programs of electric mobility, backed up with both federal and state-level incentives.
Rising output of electric passenger vehicle types, commercial EV fleets, and electric locomotives are driving the uptake of high-efficiency traction motors. The use of compact electric drivetrains that utilize PMSMs and induction motors is not only growing, it is becoming an integral part of the automotive landscape.
Modernizing rail networks is one of the key drivers of growth for reliable, high-performance traction motors in the region, particularly for commuter and freight rail applications. Rising incorporate in sustainable transit systems, including electric buses and light rail vehicles (LRVs) in Canada, is further fuelling the market expansion for advanced traction motor systems with regenerative braking capabilities.
The mature manufacturing ecosystem established in North America, combined with the presence of major motor makers and top tier automotive OEMs, enables the rapid adoption of higher innovation motor technologies that are focused on high power densities and thermal efficiencies. The drive for domestic rare earth supply and localized production also plays into the growth of the region.
Europe appeals as one of the strong regions for traction motor development, driven by stringent environmental norms, government subsidies for clean mobility and massive electrification of public transport networks. Countries like Germany, France, the UK, and the Netherlands are paving the road to electronic mobility through EVs, trams, metros, and electric buses that incorporate traction motors.
As a center for automotive manufacturing, Germany, in particular, is at the forefront of quickly adopting high-torque, energy-dense motors in next-gen EV platforms. The introduction of dual-motor systems in premium electric vehicle (EV) segments and use of all-wheel-duration (AWD) are driving demand for next-generation traction motors.
Traction motors are at the heart of efforts to improve operational efficiency and reduce carbon emissions as rail electrification across the continent accelerates in response to European Union sustainability directives. This trend is underscored by France’s commitment to eliminating use of diesel trains, and widespread electrification of regional lines.
By comparison, Scandinavian nations are pouring money into all-electric ferry and marine systems featuring well-proven high-output traction motors specifically designed for heavy-duty applications. European research and development programs are emphasizing motor miniaturization, noise reduction and the optimization of magnetic materials, making Europe a pioneer in sustainable motor development.
The Asia-Pacific region accounts for a majority of the global traction motor market, with the sheer volume of vehicles produced in the region and rapid urbanization nationally as well as a balanced focus on electric transportation contributing significantly to growth in this sector. In regional and global market, China leads on large scale of EV production, the expansion of high-speed rail, as well as the government policy support on new energy vehicles (NEVs).
The country’s (user’s) rapid shift to electrified buses and commercial vehicles have driven demand for low-maintenance, high-efficiency traction motors like PMSMs and brushless DC motors. Other than that, China sources key motor materials locally, such as rare earth magnets, creating of a secure and cheaper supply chain for domestic manufacturers.
Meanwhile, India is also becoming an important market with policies like the one under FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles), which focus on the manufacturing of electric buses, three-wheelers and light electric commercial vehicles. Rail modernisation across the country means major cities are also adopting new traction systems for metro rail projects.
Japan and South Korea, are well-known for innovation in electric powertrains and electric industrial motors and have been introducing high-performance traction motors for consumer and industrial applications. The Asia-Pacific region continues to be the fastest-growing and the most innovation-intensive landscape for traction motors by making strong investments in motor control electronics, thermal management, and in-wheel motor technologies.
High Cost and Supply Chain Constraints
The high cost of production and integration is a major challenge for the traction motors market. Rare-earth magnets and high-grade insulation are much more expensive and further drive up costs, particularly for the permanent magnet synchronous motors (PMSM) that are ubiquitous in electric and hybrid vehicle propulsion.
Moreover, supply chain disruptions, especially through sourcing rare-earth materials, are a threat to consistent production and thus adversely impact OEM timelines and prices. Adoption is further complicated by the need to integrate traction motors with legacy systems, particularly in rail and industrial applications.
E-Mobility Expansion and Urban Rail Investments
The transition to electric mobility, fuelled by climate ambitions and government regulations, is a huge opportunity for the traction motors market. Emerging applications such as electric vehicles (EVs) and increased investment in urban transit rail systems metros, trams and high-speed trains will greatly contribute to demand for high-performance traction motors.
Axial flux and magnet-free motor designs may soon emerge as a way to control costs as they climb toward efficiency and scalability. Also, growing use of automation and Industry 4.0 in industrial environment will drive the requirement of electric-driven mobility and robotics that need traction motor solution.
The traction motors market experienced significant growth between 2020 and 2024, as EVs rapidly penetrated the market, and public rail transit systems expanded across Asia and Europe. It included optimized motor torque density, better thermal management and tighter inverter-motor integration. But global supply chain disruptions in 2021 and 2022 exposed vulnerabilities, particularly regarding semiconductor availability and raw material sourcing.
The next generation of motor architectures, such as magnet-less motors and liquid-cooled motors, will reflect the next phase of evolution and potentially disrupt the further market in 2025 to 2035. Better energy density, more compactness and predictive maintenance features will be standard offering.
Investments in electrified transportation infrastructure will likely surge in North America, Europe and parts of Asia, further solidifying traction motors as fundamental components in achieving sustainable mobility. On the other hand, new technologies like additive manufacturing (3D printing) and digital twin technology will reshape production and quality assurance processes.
Market Shifts: A Comparative Analysis 2020 to 2024 vs. 2025 to 2035
| Market Shift | 2020 to 2024 Trends |
|---|---|
| Regulatory Landscape | Focus on fuel efficiency and emission norms |
| Technological Advancements | PMSM and induction motors dominate |
| Industry Adoption | Automotive (EVs), rail, and industrial machinery |
| Supply Chain and Sourcing | Reliance on China for rare-earth magnets |
| Market Competition | Established players lead with incremental innovations |
| Market Growth Drivers | EV boom, rail expansions in emerging economies |
| Sustainability and Energy Efficiency | Moderate focus on energy losses and recyclability |
| Consumer Preferences | Reliability and torque output |
| Market Shift | 2025 to 2035 Projections |
|---|---|
| Regulatory Landscape | Strong mandates for zero-emission mobility and electric public transport |
| Technological Advancements | Rise of axial flux, magnet-less, and compact liquid-cooled motors |
| Industry Adoption | Widespread use across drones, robotics, smart manufacturing, and urban transport |
| Supply Chain and Sourcing | Diversification of supply chains, recycling of magnets, and local manufacturing hubs |
| Market Competition | Entry of startups focusing on innovative and low-cost motor designs |
| Market Growth Drivers | E-mobility mandates, Industry 4.0, and electrified transport infrastructure spending |
| Sustainability and Energy Efficiency | Focus on carbon-neutral motors, energy optimization, and circular economy models |
| Consumer Preferences | Compactness, silent operation, smart diagnostics, and enhanced vehicle range |
It is led by the United States with investments in EV manufacturing, railway modernization and industrial automation contributing to the traction motors market. Key to that are electric propulsion systems, which the major OEMs are increasingly gravitating towards in the pursuit of federal energy efficiency and emissions goals.
Additionally, federal incentives at the USAinvestors in addition to local applications advocating electric transportation have considerably fast-tracked the development of traction motors through automotive, rail, and industrial purposes.
| Country | CAGR (2025 to 2035) |
|---|---|
| United States | 12.7% |
With the expanding electric vehicle ecosystem and the discussion of decarbonizing rail transport, the traction motors market in the UK has potential. Traction motor applications are set to find fertile ground with national infrastructure projects aimed at electrifying rail lines and growing government subsidies for electric mobility. And the country’s robust research ecosystem is generating innovations in motor design and energy efficiency.
| Country | CAGR (2025 to 2035) |
|---|---|
| United Kingdom | 12.4% |
The European Union, particularly Germany, France, and the Netherlands, is experiencing robust growth in the traction motors market due to stringent carbon emission norms and high penetration of EVs and electrified rail systems.
The EU has implemented initiatives, including the green deal and targets for sustainable mobility that are directly driving demand for efficient, high-performance traction motors. Leading automotive and locomotive manufacturers in the region are also making investments in advanced motor technologies, which also supports market advancement.
| Region | CAGR (2025 to 2035) |
|---|---|
| European Union | 12.5% |
The advanced railway networks in Japan, coupled with strong demand for automotive electrification, continue to support the traction motors market in that region. Japanese companies have been at the forefront of technology development for compact, lightweight, and energy-efficient traction motors for high-speed trains and electric vehicles. State-sponsored R&D programs and partnerships with both automakers and rail operators are pushing the market even further.
| Country | CAGR (2025 to 2035) |
|---|---|
| Japan | 12.2% |
As domestic production of EVs ramps up, the traction motors market in South Korea is growing rapidly. With the introduction of new EV line-ups, high-efficiency motors are also being deployed, as seen with companies like Hyundai and Kia, and smart mobility trends are increasing demand for lightweight, and high-powered traction motors. Electrification projects in public transport, especially rail, is providing new opportunities for motor suppliers as well.
| Country | CAGR (2025 to 2035) |
|---|---|
| South Korea | 12.8% |
As electrification becomes the mainstay across railways, electric vehicles (EVs), and industrial automation sectors, the traction motors market is on the verge of radical transformation. From 2024 to 2025, leading manufacturers are ramping up production capacity while concentrating on improving the efficiency of motor technologies, such as synchronous and permanent magnet motors, and forging strategic alliances with OEMs or transit authorities. With growing importance placed on sustainability and energy efficiency, the players are investing in next-gen motor designs for hybrid and fully electric drivetrains.
Market Share Analysis by Key Players & Manufacturers
| Company/Organization Name | Key Offerings/Activities |
|---|---|
| Siemens AG | Unveiled next-gen electric traction motors for rail and EV mobility platforms in 2024. |
| ABB Ltd. | Developed energy-efficient synchronous traction motors for metros and regional trains in 2025. |
| CRRC Corporation Limited | Rolled out integrated traction systems for high-speed rail and mass transit in 2024. |
| Nidec Corporation | Expanded its e-axle traction motor production line for electric vehicles in 2025. |
Key Market Insights
Siemens AG (14-16%)
Siemens remains a dominant force in the rail and metro segments, launching a compact traction motor platform with enhanced torque density and thermal efficiency. Its global presence and local manufacturing hubs support major railway electrification projects across Europe and Asia.
ABB Ltd. (12-14%)
ABB introduced synchronous traction motors optimized for reduced lifecycle costs and high operational uptime, targeting metro networks and freight locomotives. Its motors integrate well with automation and digital twin platforms, aligning with smart rail initiatives.
CRRC Corporation Limited (10-12%)
A key player in the APAC region, CRRC rolled out modular traction systemstailored for both high-speed and urban transit. Its focus on domestic electrification and export programs to Africa and Latin America reinforces its growing footprint.
Nidec Corporation (9-11%)
Nidec leads in EV traction motor innovation. It launched a scalable e-axle motor platform for both passenger and commercial EVs. Its growing customer base in Asia and North America reflects rising demand for compact, power-dense designs.
Other Key Players (47-55% Combined)
Table 1: Global Market Value (US$ Mn) Forecast by Region, 2017-2032
Table 2: Global Market Volume (Units) Forecast by Region, 2017-2032
Table 3: Global Market Value (US$ Mn) Forecast by Rated Power, 2017-2032
Table 4: Global Market Volume (Units) Forecast by Rated Power, 2017-2032
Table 5: Global Market Value (US$ Mn) Forecast by Motor Type, 2017-2032
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Table 7: Global Market Value (US$ Mn) Forecast by Application, 2017-2032
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Table 9: Global Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 10: Global Market Volume (Units) Forecast by Product Type, 2017-2032
Table 11: North America Market Value (US$ Mn) Forecast by Country, 2017-2032
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Table 13: North America Market Value (US$ Mn) Forecast by Rated Power, 2017-2032
Table 14: North America Market Volume (Units) Forecast by Rated Power, 2017-2032
Table 15: North America Market Value (US$ Mn) Forecast by Motor Type, 2017-2032
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Table 19: North America Market Value (US$ Mn) Forecast by Product Type, 2017-2032
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Table 21: Latin America Market Value (US$ Mn) Forecast by Country, 2017-2032
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Table 23: Latin America Market Value (US$ Mn) Forecast by Rated Power, 2017-2032
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Table 25: Latin America Market Value (US$ Mn) Forecast by Motor Type, 2017-2032
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Table 29: Latin America Market Value (US$ Mn) Forecast by Product Type, 2017-2032
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Table 31: Europe Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 32: Europe Market Volume (Units) Forecast by Country, 2017-2032
Table 33: Europe Market Value (US$ Mn) Forecast by Rated Power, 2017-2032
Table 34: Europe Market Volume (Units) Forecast by Rated Power, 2017-2032
Table 35: Europe Market Value (US$ Mn) Forecast by Motor Type, 2017-2032
Table 36: Europe Market Volume (Units) Forecast by Motor Type, 2017-2032
Table 37: Europe Market Value (US$ Mn) Forecast by Application, 2017-2032
Table 38: Europe Market Volume (Units) Forecast by Application, 2017-2032
Table 39: Europe Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 40: Europe Market Volume (Units) Forecast by Product Type, 2017-2032
Table 41: East Asia Market Value (US$ Mn) Forecast by Country, 2017-2032
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Table 43: East Asia Market Value (US$ Mn) Forecast by Rated Power, 2017-2032
Table 44: East Asia Market Volume (Units) Forecast by Rated Power, 2017-2032
Table 45: East Asia Market Value (US$ Mn) Forecast by Motor Type, 2017-2032
Table 46: East Asia Market Volume (Units) Forecast by Motor Type, 2017-2032
Table 47: East Asia Market Value (US$ Mn) Forecast by Application, 2017-2032
Table 48: East Asia Market Volume (Units) Forecast by Application, 2017-2032
Table 49: East Asia Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 50: East Asia Market Volume (Units) Forecast by Product Type, 2017-2032
Table 51: South Asia & Pacific Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 52: South Asia & Pacific Market Volume (Units) Forecast by Country, 2017-2032
Table 53: South Asia & Pacific Market Value (US$ Mn) Forecast by Rated Power, 2017-2032
Table 54: South Asia & Pacific Market Volume (Units) Forecast by Rated Power, 2017-2032
Table 55: South Asia & Pacific Market Value (US$ Mn) Forecast by Motor Type, 2017-2032
Table 56: South Asia & Pacific Market Volume (Units) Forecast by Motor Type, 2017-2032
Table 57: South Asia & Pacific Market Value (US$ Mn) Forecast by Application, 2017-2032
Table 58: South Asia & Pacific Market Volume (Units) Forecast by Application, 2017-2032
Table 59: South Asia & Pacific Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 60: South Asia & Pacific Market Volume (Units) Forecast by Product Type, 2017-2032
Table 61: MEA Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 62: MEA Market Volume (Units) Forecast by Country, 2017-2032
Table 63: MEA Market Value (US$ Mn) Forecast by Rated Power, 2017-2032
Table 64: MEA Market Volume (Units) Forecast by Rated Power, 2017-2032
Table 65: MEA Market Value (US$ Mn) Forecast by Motor Type, 2017-2032
Table 66: MEA Market Volume (Units) Forecast by Motor Type, 2017-2032
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Table 68: MEA Market Volume (Units) Forecast by Application, 2017-2032
Table 69: MEA Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 70: MEA Market Volume (Units) Forecast by Product Type, 2017-2032
Figure 1: Global Market Value (US$ Mn) by Rated Power, 2022-2032
Figure 2: Global Market Value (US$ Mn) by Motor Type, 2022-2032
Figure 3: Global Market Value (US$ Mn) by Application, 2022-2032
Figure 4: Global Market Value (US$ Mn) by Product Type, 2022-2032
Figure 5: Global Market Value (US$ Mn) by Region, 2022-2032
Figure 6: Global Market Value (US$ Mn) Analysis by Region, 2017-2032
Figure 7: Global Market Volume (Units) Analysis by Region, 2017-2032
Figure 8: Global Market Value Share (%) and BPS Analysis by Region, 2022-2032
Figure 9: Global Market Y-o-Y Growth (%) Projections by Region, 2022-2032
Figure 10: Global Market Value (US$ Mn) Analysis by Rated Power, 2017-2032
Figure 11: Global Market Volume (Units) Analysis by Rated Power, 2017-2032
Figure 12: Global Market Value Share (%) and BPS Analysis by Rated Power, 2022-2032
Figure 13: Global Market Y-o-Y Growth (%) Projections by Rated Power, 2022-2032
Figure 14: Global Market Value (US$ Mn) Analysis by Motor Type, 2017-2032
Figure 15: Global Market Volume (Units) Analysis by Motor Type, 2017-2032
Figure 16: Global Market Value Share (%) and BPS Analysis by Motor Type, 2022-2032
Figure 17: Global Market Y-o-Y Growth (%) Projections by Motor Type, 2022-2032
Figure 18: Global Market Value (US$ Mn) Analysis by Application, 2017-2032
Figure 19: Global Market Volume (Units) Analysis by Application, 2017-2032
Figure 20: Global Market Value Share (%) and BPS Analysis by Application, 2022-2032
Figure 21: Global Market Y-o-Y Growth (%) Projections by Application, 2022-2032
Figure 22: Global Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 23: Global Market Volume (Units) Analysis by Product Type, 2017-2032
Figure 24: Global Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 25: Global Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 26: Global Market Attractiveness by Rated Power, 2022-2032
Figure 27: Global Market Attractiveness by Motor Type, 2022-2032
Figure 28: Global Market Attractiveness by Application, 2022-2032
Figure 29: Global Market Attractiveness by Product Type, 2022-2032
Figure 30: Global Market Attractiveness by Region, 2022-2032
Figure 31: North America Market Value (US$ Mn) by Rated Power, 2022-2032
Figure 32: North America Market Value (US$ Mn) by Motor Type, 2022-2032
Figure 33: North America Market Value (US$ Mn) by Application, 2022-2032
Figure 34: North America Market Value (US$ Mn) by Product Type, 2022-2032
Figure 35: North America Market Value (US$ Mn) by Country, 2022-2032
Figure 36: North America Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 37: North America Market Volume (Units) Analysis by Country, 2017-2032
Figure 38: North America Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 39: North America Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 40: North America Market Value (US$ Mn) Analysis by Rated Power, 2017-2032
Figure 41: North America Market Volume (Units) Analysis by Rated Power, 2017-2032
Figure 42: North America Market Value Share (%) and BPS Analysis by Rated Power, 2022-2032
Figure 43: North America Market Y-o-Y Growth (%) Projections by Rated Power, 2022-2032
Figure 44: North America Market Value (US$ Mn) Analysis by Motor Type, 2017-2032
Figure 45: North America Market Volume (Units) Analysis by Motor Type, 2017-2032
Figure 46: North America Market Value Share (%) and BPS Analysis by Motor Type, 2022-2032
Figure 47: North America Market Y-o-Y Growth (%) Projections by Motor Type, 2022-2032
Figure 48: North America Market Value (US$ Mn) Analysis by Application, 2017-2032
Figure 49: North America Market Volume (Units) Analysis by Application, 2017-2032
Figure 50: North America Market Value Share (%) and BPS Analysis by Application, 2022-2032
Figure 51: North America Market Y-o-Y Growth (%) Projections by Application, 2022-2032
Figure 52: North America Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 53: North America Market Volume (Units) Analysis by Product Type, 2017-2032
Figure 54: North America Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 55: North America Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 56: North America Market Attractiveness by Rated Power, 2022-2032
Figure 57: North America Market Attractiveness by Motor Type, 2022-2032
Figure 58: North America Market Attractiveness by Application, 2022-2032
Figure 59: North America Market Attractiveness by Product Type, 2022-2032
Figure 60: North America Market Attractiveness by Country, 2022-2032
Figure 61: Latin America Market Value (US$ Mn) by Rated Power, 2022-2032
Figure 62: Latin America Market Value (US$ Mn) by Motor Type, 2022-2032
Figure 63: Latin America Market Value (US$ Mn) by Application, 2022-2032
Figure 64: Latin America Market Value (US$ Mn) by Product Type, 2022-2032
Figure 65: Latin America Market Value (US$ Mn) by Country, 2022-2032
Figure 66: Latin America Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 67: Latin America Market Volume (Units) Analysis by Country, 2017-2032
Figure 68: Latin America Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 69: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 70: Latin America Market Value (US$ Mn) Analysis by Rated Power, 2017-2032
Figure 71: Latin America Market Volume (Units) Analysis by Rated Power, 2017-2032
Figure 72: Latin America Market Value Share (%) and BPS Analysis by Rated Power, 2022-2032
Figure 73: Latin America Market Y-o-Y Growth (%) Projections by Rated Power, 2022-2032
Figure 74: Latin America Market Value (US$ Mn) Analysis by Motor Type, 2017-2032
Figure 75: Latin America Market Volume (Units) Analysis by Motor Type, 2017-2032
Figure 76: Latin America Market Value Share (%) and BPS Analysis by Motor Type, 2022-2032
Figure 77: Latin America Market Y-o-Y Growth (%) Projections by Motor Type, 2022-2032
Figure 78: Latin America Market Value (US$ Mn) Analysis by Application, 2017-2032
Figure 79: Latin America Market Volume (Units) Analysis by Application, 2017-2032
Figure 80: Latin America Market Value Share (%) and BPS Analysis by Application, 2022-2032
Figure 81: Latin America Market Y-o-Y Growth (%) Projections by Application, 2022-2032
Figure 82: Latin America Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 83: Latin America Market Volume (Units) Analysis by Product Type, 2017-2032
Figure 84: Latin America Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 85: Latin America Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 86: Latin America Market Attractiveness by Rated Power, 2022-2032
Figure 87: Latin America Market Attractiveness by Motor Type, 2022-2032
Figure 88: Latin America Market Attractiveness by Application, 2022-2032
Figure 89: Latin America Market Attractiveness by Product Type, 2022-2032
Figure 90: Latin America Market Attractiveness by Country, 2022-2032
Figure 91: Europe Market Value (US$ Mn) by Rated Power, 2022-2032
Figure 92: Europe Market Value (US$ Mn) by Motor Type, 2022-2032
Figure 93: Europe Market Value (US$ Mn) by Application, 2022-2032
Figure 94: Europe Market Value (US$ Mn) by Product Type, 2022-2032
Figure 95: Europe Market Value (US$ Mn) by Country, 2022-2032
Figure 96: Europe Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 97: Europe Market Volume (Units) Analysis by Country, 2017-2032
Figure 98: Europe Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 99: Europe Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 100: Europe Market Value (US$ Mn) Analysis by Rated Power, 2017-2032
Figure 101: Europe Market Volume (Units) Analysis by Rated Power, 2017-2032
Figure 102: Europe Market Value Share (%) and BPS Analysis by Rated Power, 2022-2032
Figure 103: Europe Market Y-o-Y Growth (%) Projections by Rated Power, 2022-2032
Figure 104: Europe Market Value (US$ Mn) Analysis by Motor Type, 2017-2032
Figure 105: Europe Market Volume (Units) Analysis by Motor Type, 2017-2032
Figure 106: Europe Market Value Share (%) and BPS Analysis by Motor Type, 2022-2032
Figure 107: Europe Market Y-o-Y Growth (%) Projections by Motor Type, 2022-2032
Figure 108: Europe Market Value (US$ Mn) Analysis by Application, 2017-2032
Figure 109: Europe Market Volume (Units) Analysis by Application, 2017-2032
Figure 110: Europe Market Value Share (%) and BPS Analysis by Application, 2022-2032
Figure 111: Europe Market Y-o-Y Growth (%) Projections by Application, 2022-2032
Figure 112: Europe Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 113: Europe Market Volume (Units) Analysis by Product Type, 2017-2032
Figure 114: Europe Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 115: Europe Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 116: Europe Market Attractiveness by Rated Power, 2022-2032
Figure 117: Europe Market Attractiveness by Motor Type, 2022-2032
Figure 118: Europe Market Attractiveness by Application, 2022-2032
Figure 119: Europe Market Attractiveness by Product Type, 2022-2032
Figure 120: Europe Market Attractiveness by Country, 2022-2032
Figure 121: East Asia Market Value (US$ Mn) by Rated Power, 2022-2032
Figure 122: East Asia Market Value (US$ Mn) by Motor Type, 2022-2032
Figure 123: East Asia Market Value (US$ Mn) by Application, 2022-2032
Figure 124: East Asia Market Value (US$ Mn) by Product Type, 2022-2032
Figure 125: East Asia Market Value (US$ Mn) by Country, 2022-2032
Figure 126: East Asia Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 127: East Asia Market Volume (Units) Analysis by Country, 2017-2032
Figure 128: East Asia Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 129: East Asia Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 130: East Asia Market Value (US$ Mn) Analysis by Rated Power, 2017-2032
Figure 131: East Asia Market Volume (Units) Analysis by Rated Power, 2017-2032
Figure 132: East Asia Market Value Share (%) and BPS Analysis by Rated Power, 2022-2032
Figure 133: East Asia Market Y-o-Y Growth (%) Projections by Rated Power, 2022-2032
Figure 134: East Asia Market Value (US$ Mn) Analysis by Motor Type, 2017-2032
Figure 135: East Asia Market Volume (Units) Analysis by Motor Type, 2017-2032
Figure 136: East Asia Market Value Share (%) and BPS Analysis by Motor Type, 2022-2032
Figure 137: East Asia Market Y-o-Y Growth (%) Projections by Motor Type, 2022-2032
Figure 138: East Asia Market Value (US$ Mn) Analysis by Application, 2017-2032
Figure 139: East Asia Market Volume (Units) Analysis by Application, 2017-2032
Figure 140: East Asia Market Value Share (%) and BPS Analysis by Application, 2022-2032
Figure 141: East Asia Market Y-o-Y Growth (%) Projections by Application, 2022-2032
Figure 142: East Asia Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 143: East Asia Market Volume (Units) Analysis by Product Type, 2017-2032
Figure 144: East Asia Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 145: East Asia Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 146: East Asia Market Attractiveness by Rated Power, 2022-2032
Figure 147: East Asia Market Attractiveness by Motor Type, 2022-2032
Figure 148: East Asia Market Attractiveness by Application, 2022-2032
Figure 149: East Asia Market Attractiveness by Product Type, 2022-2032
Figure 150: East Asia Market Attractiveness by Country, 2022-2032
Figure 151: South Asia & Pacific Market Value (US$ Mn) by Rated Power, 2022-2032
Figure 152: South Asia & Pacific Market Value (US$ Mn) by Motor Type, 2022-2032
Figure 153: South Asia & Pacific Market Value (US$ Mn) by Application, 2022-2032
Figure 154: South Asia & Pacific Market Value (US$ Mn) by Product Type, 2022-2032
Figure 155: South Asia & Pacific Market Value (US$ Mn) by Country, 2022-2032
Figure 156: South Asia & Pacific Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 157: South Asia & Pacific Market Volume (Units) Analysis by Country, 2017-2032
Figure 158: South Asia & Pacific Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 159: South Asia & Pacific Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 160: South Asia & Pacific Market Value (US$ Mn) Analysis by Rated Power, 2017-2032
Figure 161: South Asia & Pacific Market Volume (Units) Analysis by Rated Power, 2017-2032
Figure 162: South Asia & Pacific Market Value Share (%) and BPS Analysis by Rated Power, 2022-2032
Figure 163: South Asia & Pacific Market Y-o-Y Growth (%) Projections by Rated Power, 2022-2032
Figure 164: South Asia & Pacific Market Value (US$ Mn) Analysis by Motor Type, 2017-2032
Figure 165: South Asia & Pacific Market Volume (Units) Analysis by Motor Type, 2017-2032
Figure 166: South Asia & Pacific Market Value Share (%) and BPS Analysis by Motor Type, 2022-2032
Figure 167: South Asia & Pacific Market Y-o-Y Growth (%) Projections by Motor Type, 2022-2032
Figure 168: South Asia & Pacific Market Value (US$ Mn) Analysis by Application, 2017-2032
Figure 169: South Asia & Pacific Market Volume (Units) Analysis by Application, 2017-2032
Figure 170: South Asia & Pacific Market Value Share (%) and BPS Analysis by Application, 2022-2032
Figure 171: South Asia & Pacific Market Y-o-Y Growth (%) Projections by Application, 2022-2032
Figure 172: South Asia & Pacific Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 173: South Asia & Pacific Market Volume (Units) Analysis by Product Type, 2017-2032
Figure 174: South Asia & Pacific Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 175: South Asia & Pacific Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 176: South Asia & Pacific Market Attractiveness by Rated Power, 2022-2032
Figure 177: South Asia & Pacific Market Attractiveness by Motor Type, 2022-2032
Figure 178: South Asia & Pacific Market Attractiveness by Application, 2022-2032
Figure 179: South Asia & Pacific Market Attractiveness by Product Type, 2022-2032
Figure 180: South Asia & Pacific Market Attractiveness by Country, 2022-2032
Figure 181: MEA Market Value (US$ Mn) by Rated Power, 2022-2032
Figure 182: MEA Market Value (US$ Mn) by Motor Type, 2022-2032
Figure 183: MEA Market Value (US$ Mn) by Application, 2022-2032
Figure 184: MEA Market Value (US$ Mn) by Product Type, 2022-2032
Figure 185: MEA Market Value (US$ Mn) by Country, 2022-2032
Figure 186: MEA Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 187: MEA Market Volume (Units) Analysis by Country, 2017-2032
Figure 188: MEA Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 189: MEA Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 190: MEA Market Value (US$ Mn) Analysis by Rated Power, 2017-2032
Figure 191: MEA Market Volume (Units) Analysis by Rated Power, 2017-2032
Figure 192: MEA Market Value Share (%) and BPS Analysis by Rated Power, 2022-2032
Figure 193: MEA Market Y-o-Y Growth (%) Projections by Rated Power, 2022-2032
Figure 194: MEA Market Value (US$ Mn) Analysis by Motor Type, 2017-2032
Figure 195: MEA Market Volume (Units) Analysis by Motor Type, 2017-2032
Figure 196: MEA Market Value Share (%) and BPS Analysis by Motor Type, 2022-2032
Figure 197: MEA Market Y-o-Y Growth (%) Projections by Motor Type, 2022-2032
Figure 198: MEA Market Value (US$ Mn) Analysis by Application, 2017-2032
Figure 199: MEA Market Volume (Units) Analysis by Application, 2017-2032
Figure 200: MEA Market Value Share (%) and BPS Analysis by Application, 2022-2032
Figure 201: MEA Market Y-o-Y Growth (%) Projections by Application, 2022-2032
Figure 202: MEA Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 203: MEA Market Volume (Units) Analysis by Product Type, 2017-2032
Figure 204: MEA Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 205: MEA Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 206: MEA Market Attractiveness by Rated Power, 2022-2032
Figure 207: MEA Market Attractiveness by Motor Type, 2022-2032
Figure 208: MEA Market Attractiveness by Application, 2022-2032
Figure 209: MEA Market Attractiveness by Product Type, 2022-2032
Figure 210: MEA Market Attractiveness by Country, 2022-2032
The market was valued at USD 18,240 million in 2025.
It is expected to grow to USD 51,580 million by 2035.
Growth is primarily driven by electric vehicle (EV) adoption, increased railway infrastructure investments, and sustainable urban mobility initiatives.
The top contributing countries are China, United States, Germany, Japan, and India.
Transportation and hybrid vehicles are expected to dominate due to their efficiency, high torque density, and suitability for EV and rail applications.
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