Global Traction Transformer 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. 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. Many regions, across the world, are favoring traction
transformer as the regions have invested immensely in the railway sector and
enhanced the entire sector with developments and innovation. Such an action has
eventually impacted the market to grow without any hindrance that would
continue during the progression period.
The
countries like China, India, and Japan have introduced transformer traction, as
there has been a rise in demand for electric vehicles and across the world as
well. All these factors are tremendously forcing the market to reach high
valuation in the coming years.
Traction
Transformer Industry 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 traction
transformer 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.
These developments would impact positively to the demand for traction
transformer globally. Apart from this, factors such as rising urbanization,
demand from the railway sector, and supportive government plans are also to
drive the market for electric traction transformer in this region. China,
India, and Japan are the leading countries contributing to the growth of the
electric Traction Transformer Market in Asia Pacific.
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.
Browse Complete Traction Transformer Market Report
at: https://www.marketresearchfuture.com/reports/traction-transformer-market-7024
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