Market
Insight
Traction
transformer market is gaining precedence owing to its importance as a component
that is designed to transform power from the locomotives and delivered to the
electric motors. On this note, Market Research Future reveals a study that
entails, the global Traction
Transformer Market Size can experience a 5.00% CAGR during the forecast
period (2018-2023). The study also covers drivers of the said market and
segments in details, and with the help of it, the market’s progress is
identified in comprehensive way.
According
to the study, the global market for traction transformer market is gaining
traction due to its primary application areas, which include high-speed trains,
electrical multiple units, and double-decker electrical numerous units, and
more. With this, there has also been significant government funding raised for
rail infrastructure development, which has considerably driven the market for
traction transformer and paved ways for opportunities to come in the coming
years.
At
the same time, the mega shift towards low carbon rail transport and
liberalization of rail transport network also claim to be a positive approach
to the market’s growth, which is anticipated to take the growth level to a
greater extent.
Market
Segmentation
As
per the study, the global traction transformer market can be segmented into
mounting position, overhead line voltage, and rolling stock.
In
terms of rolling stock, the market has been classified into electric
locomotives, high-speed trains, and metros, where the electric locomotives
segment is expected to expand at the highest CAGR during the forecast period.
The demand for electric locomotives is mounting to reduce the emissions and to
surge the effectiveness of the vehicles by declining the dependence on internal
combustion engines.
In
terms of the mounting position, the market splits into underframe, machine
room, and roof.
In
terms of overhead line voltage, the market splits into AC and DC.
Regional
Outlook
Global
traction transformer market is regionally studied among the regions of North
America, Asia-Pacific, Europe, Middle East & Africa, and South America.
Among
these, Asia-Pacific is anticipated to witness a modest growth rate during the
assessment period owing to noteworthy government funding for rail
infrastructure development and liberalization of the rail transport network. In
a case, on February 2018, BNSF (US) invested USD 3.3 billion in network
expansion. In this region, China is touted to be the leading market for
electric vehicles with the sales of plug-in hybrids. Also, China is projected
to reach 12.43 million cars by 2035.
Traction
transformer market is also led by Western Europe after by North America region.
Western Europe leading the market is attributed to existence of major players
based in the region. Eastern Europe, Latin America, and MEA are estimated to
observe a moderate growth rate in the traction transformer market.
Key
Players
The
well-known players of Global Traction Transformer Market are listed as Wilson
Transformer Company (Australia), International Electric Co., Ltd. (South
Korea), EMCO Limited (India), Mitsubishi Electric Corporation (Japan), Alstom
SA (France), ABB Ltd (Switzerland), JST Transformateurs (France), Siemens AG
(Germany), Sunten Electric (China), and Setrans Holding AS (France) and many
more.
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