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United States Traction Motor Market Forecast 2021-2025

The United States traction motor market is expected to project a CAGR of 13.47%, during the forecast years. The country's market growth is accredited to the steady demand for traction motors, especially across the railway industry, and the rapidly developing market for locomotives and electric vehicles. The base year considered for the market study is 2020, and the forecast period is from 2021 to 2025.

Several enterprises operating in the United States' traction motor market have set up numerous contracts linked with traction motors, with various governments. This aspect plays a crucial role in augmenting the country's market growth. Moreover, the United States observes a robust demand for traction motors, especially across the railway industry. Various factors account for the heightened importance of rail transit to the United States' economy. For instance, federal investments in rail passenger cars and locomotives, over recent years, have amounted to several billion dollars.
On the other hand, competencies built into obtaining policies for programs, namely, the Next Generation Corridor Equipment Pool Committee, and the High-Speed Intercity Passenger Rail Initiative, are anticipated to continue the inflow of federal grants. Additionally, there have also been state-level corresponding investments. This includes California's $8 billion investment, for developing the United States' first high speed corridor. Therefore, these factors are expected to facilitate the country's traction motor market growth, during the forecast period.

Some of the prominent companies operating in the market include, Wabtec Corporation, ABB Ltd, American Traction Systems, AMETEK, Toshiba International Corporation, etc.

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United States Traction Motor Market Forecast 2021-2025
Published By :Inkwood Research
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