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. A detailed analysis report of COVID-19 impact on Traction Transformer Market Size is provided with the
report.
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
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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.
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Regional Outlook
Region wise, Asia Pacific held the largest market
share of the global traction 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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