United States Traction Machine Market was valued at USD 0.78 Billion in 2022 and is projected to reach USD 1.30 Billion by 2030, growing at a CAGR of 7.70% from 2024 to 2030.
The US traction machine market plays a critical role in various industries, including construction, transportation, and manufacturing. These machines are essential for providing the necessary mechanical power to move or lift heavy loads in a variety of applications. With industries increasingly focusing on efficiency, safety, and productivity, the demand for traction machines has significantly risen. The requirement for these machines is directly linked to the need for heavy lifting, precise movements, and operational speed in sectors like construction, mining, and even vertical transportation (elevators and escalators). In this article, we explore the types of traction machines dominating the market and the industries driving their demand.
One of the primary types of traction machines in the US market is the geared traction machine, which provides reliable and efficient performance for heavy-duty operations. These machines are widely used in elevator systems, especially in high-rise buildings. Their gear mechanisms allow them to handle heavy weights with minimal energy consumption, making them a preferred choice for urban infrastructure projects. On the other hand, gearless traction machines are gaining popularity in industries that require smooth and quiet operations, such as modern commercial buildings and luxury residential spaces. They are also more energy-efficient, reducing operational costs in the long run.
The demand for traction machines varies across different industries. In the construction sector, cranes and hoists that utilize traction machines are crucial for lifting and transporting heavy materials at construction sites. These machines offer precise control and lifting capabilities that are necessary for safe and efficient operations. In the transportation industry, traction machines are used in various rail systems, helping to drive trains, locomotives, and subway systems. Additionally, they are vital in mining operations, where traction machines are used for hoisting and hauling materials from underground mines.
Technological advancements are also influencing the growth of the traction machine market. Innovations such as smart traction systems equipped with AI and IoT technologies allow for enhanced performance monitoring, predictive maintenance, and increased energy efficiency. Industries are increasingly seeking these advanced solutions to lower operational costs while maintaining high performance. Additionally, as the US continues to invest in modernizing its infrastructure, the demand for both geared and gearless traction machines is expected to grow, creating new opportunities for manufacturers and service providers in the market.
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Nidec Elevator Group
Wittur Group
APSON
Nagaoka Machinery
Torin Drive
Tectronics Engineers
Kolmar Asansor
Elecon
Raman Engineering
Shenyang Yuanda Intellectual Industry Group
Hebei Fengwei Machinery Manufacturing
Montanari Drive Technology
Zhejiang Xierk Elevator Parts
Ningbo Xinda Elevator Traction Technology
Cheng Day International Group
Suzhou BDFUJI Elevator
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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 Traction Machine Market
Electric Traction Machines
Diesel Traction Machines
Hybrid Traction Machines
Railway Industry
Mining Industry
Construction Sector
Airport Ground Support
Below 100 kW
100 kW - 500 kW
Above 500 kW
Single-Circuit Traction Machines
Multi-Circuit Traction Machines
Conventional Traction Systems
Traction Systems with Advanced Control Technologies
Integrated Electric Traction Systems
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 Traction Machine 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 Traction Machine Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Traction Machine Market, By Type
6. US Traction Machine Market, By Application
7. US Traction Machine Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Traction Machine Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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