Traction Transformer Market is valued at USD 1.12 Billion in 2020 and is expected to register a CAGR of 5.13% by 2030 - Report by Market Research Future (MRFR)

Traction Transformer Market is valued at USD 1.12 Billion in 2020 and is expected to register a CAGR of 5.13% by 2030 – Report by Market Research Future (MRFR)

Future of Market Research

Future of Market Research

Rise in Railway Electrification to Drive Traction Transformer Market Growth

New York, USA, 06 Dec. 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “traction transformer market Research Report: Information by Type, By Overhead Line Voltage, By Mounting Position, By Rolling Stock and By Region – Forecast to 2030, Market is Expected to Acquire a Valuation of Approximately USD 2.91 Billion by the end of 2027. The reports further predict the market to flourish at a robust CAGR of over 5.13% during the assessment period.

Traction Transformer Market Key Players

Prominent industry players profiled in the Traction Transformer market report include-

  • CG Power and Industrial Solutions Limited (India)

  • WAY (Brazil)

  • Alstom (France)

  • Altrafo Srl (Italy)

  • Hind Rectifiers Limited (India)

  • JST Group (France)

  • Toshiba Corporation (Japan)

  • International Electric Co Ltd (South Korea)

  • Schneider Electric (France)

  • Siemens (Germany)

  • ABB (Switzerland)

  • Mitsubishi Electric Corporation (Japan)

  • Emco Limited (India).

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Report Scope:

Report metric

Details

Revenue forecasts in 2027

$2.91 billion

Rate of growth

CAGR of 5.13% from 2022 to 2030

Year of reference

2021

Study period

2022-2030

Key market opportunities

Growth of metro and high-speed rail in developing countries

Key Market Drivers

Growth of intra-city rail infrastructure

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Drivers

Increase in railway electrification to drive market growth

More and more governments around the world are investing in traction substation infrastructure as railway electrification increases. The traction substation converts electrical energy supplied by the electrical system into a form that delivers electrical traction while being consistent with its mode of power distribution. The traction transformer is the main element of the traction substation.

Opportunities

Government initiatives to increase railway infrastructure to support market growth

The government of several countries are taking the initiative to upgrade their rail network and initiate new projects such as high-powered high-speed trains that could accelerate the market growth over the forecast period.

Constraints and challenges

The high price of the electrification of the rail network will remain a drag on the market

The high cost of railway network electrification, design complexity and higher prevalence of diesel-powered railway engine might remain as market restraints during the forecast period.

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Traction Transformer Market – Segmentation

The global traction transformer market is segmented on the basis of rolling stock, mounting position, overhead line voltage, and type.

By Type, the traction transformer market is segmented into rectifier and tap changer.

In terms of overhead line voltage, the AC system will dominate the market during the forecast period.

By mounting position, engine room will dominate the market during the forecast period.

In rolling stock, electric locomotives will spearhead the market over the forecast period.

Traction Transformer Market COVID-19 Analysis

All countries and trends in the Global Traction Transformer Market have been impacted by COVID 19. Endless lockdowns are impacting the Traction Transformer Lasers Market. The global pandemic has posed a number of challenges to the market growth sector as it has impacted everywhere. The development of continued demand and supply was mainly influenced by important factors such as transport infrastructure, new construction, distribution, lack of space and the significant reduction in development activities. Fewer people are traveling than before. Significant strategic developments are taking place due to growing demand from consumers in various countries, multinationals and local governments.

Traction Transformer Market Regional Analysis

APAC to swing traction transformer market

According to several distribution channels, Asia-Pacific is expected to contribute the most. Additionally, traction transformer markets in Australia and China are expected to grow rapidly due to rising investment. Additionally, there has been an increase in demand in major developing countries such as India and China, which is expected to drive growth in a number of markets in the Asia-Pacific region. Undoubtedly, Asia-Pacific is leading the traction transformer markets owing to the presence of major international players and increased technological advancement in this particular region. One of the most important regions in the world, Asia-Pacific, is expected to experience an increasing demand for public transport due to population growth and technological advancements in the transport and infrastructure sectors. This is expected to fuel the expansion of the region’s traction transformer market. The most populous nation in the world, China also has the fastest growing economy. Power requirements and electrification of railways are increasing due to China’s rapid urbanization and development. With its rapid urbanization and economic development, China, according to the World Bank, has the largest high-speed rail network in the world. The demand for traction transformer market in India is also expected to be driven by growing public transport infrastructure needs and developing rolling stock infrastructure. The Indian government intends to attract players for the upgrading of rolling stock in the country with the developments in railway infrastructure.

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North America to See Admirable Growth in Traction Transformer Market

Between 2016 and 2022, North America is projected to experience the fastest traction transformer market growth rate. Rapid industrialization and modernization, government funding and support in the United States for the creation and implementation of high-speed trains and subways in the country, as well as the improvement of rail infrastructure are the major factors propelling the growth of the market in North America. Due to the high cost of electrifying the rail network and the predominance of diesel-powered rail motors, North America is considered another region where traction transformers are experiencing notable growth. Public infrastructure projects, which are carried out quickly, are a key factor in North American growth. The development and implementation of high-speed rail, subways, and improvements to the nation’s railroad infrastructure are all supported by U.S. government funding and assistance.

Related reports:

Distribution Transformer Market Research report: information by type, insulation, power rating, end use – forecast to 2030

power transformer market By type of cooling, by nominal power – Global forecasts until 2030

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