ID: MRFR/E&P/5559-CR | October 2020 | Region: Global | 148 pages
Traction Transformer Market is projected to be worth USD 2.91 billion by 2027, registering a CAGR of 5.13% during the forecast period (2021 - 2027), The market was valued at USD 1.12 billion in 2020.
The worldwide Traction Transformer Market is estimated to increase at a fixed rate during the estimated period and is basically due to the increasing growth of various intra city railway infrastructure and upgrade of modern electrical systems in quick rolling stocks. The different types of developments in various transport systems for example buses, trains, cars, and latest motorbikes could be used for lots of public commuting, easy to commute. In addition to this, in the major recent years due to the rising awareness among various people about ultimate climate change and increased pollution levels, the majority of commuters are choosing basic public transport over their own private transport. According to the data of the International Union of Railways they have specified that the majority of trains are 2 to 5 times more energy efficient and safe than road, expensive inland shipping, and post covid19 the aviation, it is one of the enhanced and most affordable as well as popular means for daily passenger commuting. In addition to this, basic public transport, especially between the metro, facilitates faster rides in comparison to buses and cars. Not only this, the new age metros are pretty safe and less costly for as they run on pre-defined and specified routes, this completely removes the risk of accidents. Due to this, innovative factors have increased the demand for metros in major or prime cities across the world. As because, the central Indian government is now introducing generic intercity metro services in the major metro and large cities including Pune, Coimbatore, Surat, Kanpur, Patna, and Guwahati to curb the problem of traffic congestions and to improve basic public transport. Most of these basic railway networks are projected to be highly operational by 2025. Such impressive growth of metro transit is projected to drive the major demand for the worldwide traction transformer market during the estimated period, as such modern infrastructures are primarily supported by electricity.
Modern technology has increased the demand traction transformer Market Size, there are plenty of advantages to traction transformer devices. The significant part of Europe and Asia is estimated to be the quickest growing area in market share.
The market players for the Traction Transformer industry, are:
COVID 19 Impacts and effects
The COVID 19 has impacted all the countries and the global traction transformer Market Trends as well. Continuous lockdowns have affected the traction transformer lasers market. The global pandemic created several challenges to the market Growth sector, it is affected all over the world. There are major factors like transportation infrastructure, new construction, distribution, lack of spaces; and much-decreased development activities have primarily affected the growth of the ongoing demand and supply. People are not much travelling as earlier. Major strategic developments are taking place. MNC and local government are investing and focusing more in the market Analysis because of the increasing demand from consumers across the various countries.
The traction transformer market value is impressive. According to recent developments, the APAC region is estimated to have major and most favorable growth over the estimated period. The increasing T&D basic infrastructural investment towards the primary development of a large number of long-distance and widespread electricity networks, deviation and shifting trends towards proper deployment of modern energy-efficient technologies, increased and ongoing refurbishment of preexisting grid infrastructure, and modern digitalization of basic power utilities are enhancing and adding to the global transformer market growth in the region. Japan has the biggest market because of growing electricity demand, and increasing regulatory focus towards integrating latest grid technologies. Apart from this, quick installation of advanced electrical equipment, major technological improvements all through the transformer sector , government focus towards the union of renewable power are also adding to the transformer market share.
The global market outlook is segregated into North America, Europe, Asia Pacific region, and Rest-of-the-World (RoW), ranking is based upon the country-level market sizing. The Traction Transformer Market is very huge, all the key players of the market have vital roles. There is no basic debate that in spite of the imposed lockdown of COVID 19, the latest trends and future opportunities of the traction transformer industry will see tremendous rising opportunities.
The increasing dependence of the government and local population on the traction transformer market which also supports several industries around the world that have doubled. The traction transformer market has risen and has come up as quite compelling. The traction transformer Market has been very popular nowadays and booming. There are plenty of emerging markets related to traction transformer market all across the world and major countries like India, China, and Brazil that are projected to grow fast over the estimated years.
The outbreak of COVID-19 has majorly knocked out the growing pace of the traction transformer market because of lockdowns and most of the consumer markets across the globe suffered badly, the economy of various countries shrinks. COVID19 has primarily disrupted the entire supply chain. Not only this, Prolonged lockdown made a various negative influence and affected the morale of the big companies who are related in this field.
The traction transformer market is estimated to have an increased revenue, according to an in-depth detailed report by the latest Market Research Future (MRFR). All thanks to the increased impressive demand. Lots of factors are boosting the traction transformer market. The companies and local government are planning and executing current business operations through innovation techniques. Many factors affect the growth of the traction transformer market such as increased market size, basic trends in global technology, capital investment, etc.
As per the data of the International Association Public Transport (UITP), as of December of the year 2017, approx, 178 metro systems include a valuation of installed asset base of various 642 lines covering a length of total of vast area of 13,903 km. This has raised the length of metro lines majorly due to the new various metro lines added in total of 19 cities in China, the new addition of various metro lines of 577 Km in India and Iran, and not only this, the total addition of latest and new metro lines covering a various length of total of 820 Km in various established metro cities. As per the basic relevant statistical data from UITP, global share of various metro ridership increased by a total of various 19.5% between 2011 and the year 2017 amounting to the total of the revenue of 53.7 billion.
The global Traction Transformer Market is witnessed a substantial growth during the estimated time period because of factors for example increasing demand for transportation, huge investment in basic transportation and infrastructure, plenty of development in various and large scale industries along with the growing expansion is also acting as another primary growth-inducing factor which helps in rising of the Traction Transformer Market
The global Traction Transformer Market is segmented by the categories of type, overhead line voltage, various mounting position, and different rolling stock. And region. On the basis of division of type, the worldwide traction transformer market has been variously divided into two types such as tap changing and rectifier. On the basis of the concept of mounting position, the worldwide traction transformer market has been further segmented into various underframe, various machine rooms, and advanced roof. On the basis of rolling stock, the worldwide spread of market has been further divided into latest electric locomotives, various high-speed trains, and metros.
On the basis of Geographic Segmentation:
Division by Application
The companies in this sector have primary players which encompass various effective strategies and fast research and development activities, major geographic expansions, primary strategic alliances, various product launches, and others.
Division by Region
The regional analysis of several Markets is being divided and studied such as Asia pacific, North America, European nations and rest of the world countries. As per Geographical, Asia Pacific is projected to be the biggest contributor as ruled by several distribution channels. In addition to this, Australia, China are a projected to grow rapidly in Traction Transformer Markets due to increasing investment Also, there has been a rise in demand in major developing countries for example India and China is projected to lead growth in several markets in different Asia-Pacific regions.
Without a debate, Asia pacific is leading the Traction Transformer Markets due to the existence of the grand global players in this particular region as well as increased technological advancement.
Traction transformers are basically used in most of the railway industry at larger scale to power advanced electric locomotives. Traction transformers are capable of converting electric power which is supplied by the main power company to an appropriate voltage level to power the various traction motors of the locomotive engine and other major auxiliaries. The basic traction transformer is designed and meant to convert the high voltage AC to low voltage DC format, which is directly fed to the rectifier to run the central DC traction motors.
|Market Size||2027: USD 2.91 billion|
|CAGR||5.13% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Overhead Line Voltage, Mounting Position and Rolling Stock|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||CG Power and Industrial Solutions Limited (India), WEG (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)|
|Key Market Opportunities||Growing Metro And High-Speed Rail In Developing Countries|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global traction transformer market is expected to record a substantial market valuation.
The global traction transformer market is projected to register a moderate CAGR in the forecast period.
Increasing intracity railway infrastructure and upgrade of electrical systems are driving the growth of the market.
the lack of investment in underdeveloped economies are likely to hamper the growth of the traction transformer market over the review period.
The tap changing segment is slated to expand as the fastest-growing segment.
The metro segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global traction transformer market are ABB (Switzerland), Toshiba Corporation (Japan), Siemens (Germany), Mitsubishi Electric Corporation (Japan), among others.