United States Industrial Electric Traction Device Market was valued at USD 0.9 Billion in 2022 and is projected to reach USD 1.4 Billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030.
The US Industrial Electric Traction Device Market is witnessing significant growth as industries adopt advanced technologies for improved efficiency and sustainability. These traction devices, which are critical components in industries like rail transport, logistics, and manufacturing, play a pivotal role in reducing operational costs and enhancing productivity. Their demand has surged as industries look to replace traditional, fuel-dependent systems with electric-driven alternatives, which are both cost-effective and environmentally friendly.
Industrial electric traction devices are primarily utilized in applications such as electric locomotives, cranes, and automated guided vehicles (AGVs). The need for these devices is driven by industries that seek to modernize their machinery, minimize carbon emissions, and comply with government regulations for green technologies. Electric traction provides a more efficient solution than diesel-powered systems, resulting in smoother, quieter, and more reliable operations.
The US market for industrial electric traction devices is being shaped by various requirements from different sectors. For instance, the rail industry requires high-performance electric locomotives capable of moving heavy freight across vast distances. The logistics sector, on the other hand, demands AGVs for material handling in warehouses, while manufacturing plants focus on high-capacity cranes that can move heavy loads quickly and efficiently. As industries move toward automation and electrification, the demand for robust electric traction solutions is only expected to grow.
One of the key drivers of this growth is the technological advancements in electric traction systems. The development of more powerful batteries, improved motor designs, and energy-efficient power systems has made industrial electric traction devices more accessible and affordable. Furthermore, the increasing focus on sustainability and reducing greenhouse gas emissions has led industries to explore alternative energy sources. The shift toward electric traction also aligns with the broader global push for cleaner energy and sustainability, making it an essential investment for future-proofing operations.
In addition to technological improvements, government policies and incentives supporting green initiatives have also played a role in accelerating the adoption of industrial electric traction devices. These policies offer subsidies, tax incentives, and other benefits that encourage industries to adopt electric systems. The combined effect of innovation, regulatory support, and increasing environmental awareness is shaping the future of the industrial electric traction device market in the US.
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ABB
American Traction Systems
Alstom
CG Power and Industrial Solutions Limited
Caterpillar Inc
GE
Mitsubishi Electric Corporation
Kawasaki Heavy Industries
Ltd
VEM Group
Siemens
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Industrial Electric Traction Device Market
Electric Locomotives
Electric Trams and Trolleys
Electric Buses
Hybrid Electric Traction Devices
Battery Electric Vehicles (BEVs)
Public Transportation
Freight and Goods Transport
Mining Transport
Agriculture Transport
Construction and Infrastructure
Direct Current (DC) Technology
Alternating Current (AC) Technology
Regenerative Braking Systems
Wireless Electric Traction Systems
Power Electronics for Traction Control
Low Voltage (Below 1 kV)
Medium Voltage (1 kV to 25 kV)
High Voltage (Above 25 kV)
Government and Municipalities
Private Transport Operators
Infrastructure Development Companies
Utility Providers
Logistics and Freight Companies
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Industrial Electric Traction Device Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Industrial Electric Traction Device Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Industrial Electric Traction Device Market, By Type
6. US Industrial Electric Traction Device Market, By Application
7. US Industrial Electric Traction Device Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Industrial Electric Traction Device Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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