Transparency Market Research delivers key insights on the global traction transformer market. In terms of revenue, the global traction transformer market is estimated to expand at a CAGR of 5.2% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global traction transformer market.
The global traction transformer market is broadly affected by several factors, including increase in use of railways for travelling, and increasing adoption of advanced technology. Thus, increase in applications of traction transformers in different types of rolling stock is propelling the global market
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Traction Transformer Market: Dynamics
Countries across the world are focused on infrastructural development and public transport, such as metros and trams, which plays a vital role in improving infrastructure. Intra-city light rail systems carry passengers typically along rails embedded in roads or cobblestone paths, called trams. A metro is also popular in several metro cities across the world is the same sort of transportation within a city concept, except it usually runs wholly or in part underground or aboveground.
Governments are promoting public transport to reduce traffic and to reduce global warming; consequently, a huge number of people prefer travelling through EMU (Electrical multiple units), trams, metros, etc., which has increased the demand for rolling stock all across the world.
The expansion of intra-city travel is estimated to boost the demand for locomotives, thus, driving the traction transformer market during the forecast period. However, high initial investment in electrification of rail network is a key factor that is likely to hamper the global traction transformer market.
Traction Transformer Market: Prominent Regions
The traction transformer market in Asia Pacific is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and rise in usage of traction transformer in various types of trains in the region. The traction transformer market in Europe is projected to expand considerably during the forecast period, due to rise in investments by manufacturers in the region. The traction transformer market in North America is likely to expand during the forecast period, owing to an increase in usage of traction transformer in high-speed trains and electrification of rail lines in the region.
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Traction Transformer Market: Key Players
Key players operating in the global traction transformer market are Hitachi ABB Power Grids Ltd, Siemens AG, Toshiba Corporation, Mitsubishi Electric Corporation, SPX Transformer Solutions Inc., MGM Transformer, Neeltran , Altrafo Srl, Alstom SA, and JST Transformateurs.
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