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Global Electric Traction Systems Market to Reach $437.3 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Electric Traction Systems estimated at US$368.8 Billion in the year 2020, is projected to reach a revised size of US$437.3 Billion by 2027, growing at a CAGR of 2.5% over the analysis period 2020-2027. Electric Traction Motors, one of the segments analyzed in the report, is projected to record a 2.2% CAGR and reach US$264.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Electric Traction Transformers segment is readjusted to a revised 2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $100.8 Billion, While China is Forecast to Grow at 4.2% CAGR
The Electric Traction Systems market in the U.S. is estimated at US$100.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$80.8 Billion by the year 2027 trailing a CAGR of 4.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.4% and 2.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$54 Billion by the year 2027.



Electric Traction Generators Segment to Record 2.6% CAGR
In the global Electric Traction Generators segment, USA, Canada, Japan, China and Europe will drive the 2.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$22.2 Billion in the year 2020 will reach a projected size of US$26.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 2.7% CAGR through the analysis period.