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Europe Traction Motor Market Forecast 2021-2028

KEY FINDINGS
The Europe traction motor market is expected to record a CAGR of 14.13%, during the forecast period of 2021 to 2028. The presence of advanced railway systems, the formulation of incentives and laws to promote the sale of electric vehicles, and the availability of state-of-the-art technologies, in order to manufacture traction motors.

MARKET INSIGHTS
The Europe traction motor market growth is evaluated by assessing Russia, France, the United Kingdom, Belgium, Germany, Poland, Italy, and the rest of Europe. France's railway sector ranks third in the world, and second in Europe. It also represents over 300 enterprises from avenues, such as, rolling stock suppliers, infrastructure equipment, engineering, tracks to signaling equipment, and rail equipment. Besides, the French network harbors around 30,000 kilometers of lines, including 2,600 kilometers of high-speed lines, and 3,000 stations. However, the country's freight rail transportation has declined over the last three decades.
On the other hand, Russia is expected to invest nearly $84 billion in railway projects, over the upcoming years, as the rail industry observes significant improvements, with numerous projects proposed. With the anticipated rise in freight volumes in the next ten years, Russia's current rail network and infrastructure have inadequate capacity to manage the surging traffic. Moreover, the country's major priorities for projects include the increasing freight rail rolling stock, the expansion of railway networks, and enhanced connectivity to make freight movement more efficient. As a result, such factors are projected to drive the market growth, over the forecast years.

COMPETITIVE INSIGHTS
Some of the distinguished players operating in the market are ABB Ltd, Škoda Transportation, Eaton, Alstom, etc.

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Europe Traction Motor Market Forecast 2021-2028
Published By :Inkwood Research
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