Traction Transformer Market Overview
The global traction transformer market is estimated to expand at 5.00% CAGR
during the forecast period. Traction transformer is an electrical device
that transforms power from one circuit to another. Tt is one of the most vital
components of an electric traction system as it feeds power at safe voltages to
essential train functions like traction, heating and ventilation, lighting,
brakes, signaling and communication. These transformers are majorly used in
high speed trains and electric locomotives where a very high-power rating of
over 5.5 MVA is required.
With advancements in railway
infrastructure globally and increasing government investments are thereby
driving the market for traction transformer over the forecast period. In
addition, shift to traction transformers in order to address environmental
concerns due to their inherent properties including higher power to weight
ratio, low running cost of locomotives, less noise pollution and lack of
dependence of crude oil, is also expected to drive the market over the forecast
period
Leading Players
The key players of the global Traction Transformer
Market are 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), among others.
Industry Segmentation
Global
traction transformer has been segmented based on mounting position, overhead
line voltage, and rolling stock. Based on rolling stock, the market has been
classified into electric locomotives, high-speed trains, and metros. Electric
locomotives segment expected to grow at the highest CAGR during the forecast
period. The demand for electric locomotives is increasing in order to reduce
the emissions and to increase efficiency of the vehicles by decreasing the
dependence on internal combustion engines. This will drive the market for
traction transformer that are used in electric locomotives/vehicles.
Regional Outlook
Region wise, Asia Pacific held the largest market
share of the global traction
power transformer market in 2017. It is estimated that Asia-Pacific region
would be the fastest growing market during the forecast period, mainly due to
the rising population leading to increased connectivity across the region.
Moreover, the increasing investment in high-speed rail network, development of
new lines, and expansion of existing rail networks are driving the demand for
traction transformers in this region.
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