Railway Traction Motors: Worldwide Market Forecast, 2019-2023 with ABB, Alstom, Bombardier, General Electric, Siemens, and Traktionssysteme Austria Leading the Competition - ResearchAndMarkets.com
The railway traction motor market will register a CAGR of almost 4% by 2023.
- The railway traction motor market will register a CAGR of almost 4% by 2023.
- The increase in air traffic and road transport congestion has made rail transport a superior alternative in emerging economies such as India and China.
- The delay in the development and execution of railway projects is another factor hindering the growth of the global railway traction motor market.
- The market appears to be fragmented, and with the presence of several companies including ABB and Alstom, the competitive environment is quite intense.