Global Traction Transformer Market was valued US$ 540.50 Mn in 2017 and is expected to reach 750.80 Mn by 2026, at a CAGR of 4.19 % during a forecast period.
The large-scale electrification and infrastructural renovation of railway networks across the globe are some of the prominent driving factors in the global traction transformer market. Rising traffic congestion in the urban areas across the globe has turned the focus toward the development of public transportation. Many countries are capitalizing either in the renovation of their prevailing light-rail infrastructure or the construction of new ones. The rising inclination of the people toward using public transport in order to check on emissions and pollution levels is expected to increase in the electrification of railway networks.
On the other hand, high costs sustained for the electrification of the rail network and the dominance of diesel-powered rail engines in some countries like the U.K., Taiwan, Mexico, and Brazil are expected to limit the growth in the global traction transformer market.
AC systems are estimated to contribute US $ XX Mn in the global traction transformer market. Rising awareness concerning the need to switch to energy-efficient products as a way of sinking economic and ecological damage caused by outmoded technologies is increasing demand for AC type equipment across the globe. Additionally, the growing popularity of AC systems in mainline railways is also contributing to the growth of the global traction transformer market by the overhead line voltage segment.
Electric locomotives are projected to dominate the global traction transformer market. The rail infrastructure in developing and developed economies across the globe has witnessed the introduction of high-speed and metro railways, thanks to sturdy electrification of national railroads. The railway sector is progressively shifting towards novel technologies and cleaner and faster machines. This trend is projected to result in an amended scope of demand for traction transformers in the electric locomotives segment during the forecast period.
Europe region is estimated to hold a significant share in the global traction transformer market followed by the Asia Pacific. The traction transformer market in Europe region is matured, with increasing adoption of the recent technological advancements in rail traction systems. Expansion of the electrified rail network and favorable regulatory policies intended at developing efficient public transport are expected to stimulate the growth of the traction transformer market in the region. Furthermore, Asia Pacific is expected to be a leading region in the global traction transformer market. Growing investment in the high-speed rail network, development of new lines, and need to the renovation of existing rail networks are increasing the demand for traction transformers in the region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global traction transformer market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global traction transformer market. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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