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The railway traction motor market size is forecast to increase by USD 2.19 billion at a CAGR of 4.5% between 2023 and 2028. The market is driven by several key factors, including the expansion of railway networks, particularly in Asian countries, and the increasing adoption of battery-electric locomotives. Rolling stock innovations, along with advancements in semiconductor technology and energy storage solutions, play a crucial role in enhancing the performance and efficiency of these locomotives, with magnetism and electrical principles being integral to their operation. The emergence of advanced technologies, such as FLXdrive battery-electric locomotives, is facilitating the elimination of fossil fuels in railway transportation. Lithium-ion battery modules are becoming increasingly popular due to their high energy density and long life cycle. Moreover, the shift towards goods and product transportation via railways to reduce pollution is also contributing to market growth. However, the high initial development costs associated with these advanced technologies remain a challenge. In summary, the market is experiencing significant growth due to the expansion of railway networks, the adoption of battery-electric locomotives, and the need for pollution reduction.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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