Traction Transformers Market Outlook
A traction transformer is extensively used to transfer energy from one circuit to another using electromagnetic induction. It is one of the crucial elements of the electric traction mechanism that consist of alternating current (AC) and direct current (DC) systems.
The global traction transformers market size reached US$ 676.9 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 925.0 Million by 2027, exhibiting a growth rate (CAGR) of 5.4% during 2022-2027.
The electronic device helps in significantly reducing the operating costs, providing higher power output, and are comparatively lighter in weight than the traditional variants. As a result, they are largely used in high-speed and passenger trains, metro rails, and locomotives.
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Traction Transformers Market Trends:
The increasing demand for traction transformers on account of the electrification of rail networks across the globe is one of the key factors primarily driving the market growth. Apart from this, rapid advancements in the railway sector and the increasing use of traction transformer in traditional and high-speed trains are some other growth-inducing factors. Moreover, the government initiatives to strengthen the railway sector is creating a positive outlook for the market.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined with some of the key players.
· ABB Ltd.
· Alstom SA
· EMCO Limited
· Hind Rectifiers Ltd.
· International Electric Co., Ltd.
· JST Transformateurs
· Schneider Electric SA
· Setrans Holding AS
· Siemens AG
· Wilson Transformer Company
The report has categorized the market based on type, rolling stock, mounting position and overhead line voltage.
Breakup by Type:
· Tap Changing
- Tapped
- Rectifier
Breakup by Rolling Stock:
· Electric Locomotives
· High-Speed Trains
· Metros
· Others
Breakup by Mounting Position:
· Underframe
· Machine Room
· Roof
Breakup by Overhead Line Voltage:
· Alternative Current (AC) Systems
· Direct Current (DC) Systems
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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