The global Traction Transformer market was valued at $612 million in 2018 and is anticipated to grow at a CAGR of 5.4% during the forecast period. Traction transformers are components in the traction chain of locomotives, which are developed to enhance train performance and operator services.Their primary function includes transfer of electric power from the catenary to the motor for use by the converters. Traction transformers are transformers used in locomotives to transfer power to traction motors and other auxiliaries. These transformers are developed to power heavy freight loads over long distances across various land profiles, and extreme temperatures range.According to diverse size, weight and power ratings,traction transformers find application in high-speed, commuter and regional trains, locomotives, tram-trains and AC metros among others. These transformers are mounted on the roof, under the floor or in the machine room of the train in single and multiphase systems. Traction transformers are designed to be highly compact, lightweight and reliable to function efficiently in harsh and demanding environments.
The traction transformer market is influenced by factors such as growing development of rail infrastructure, and increasing need for time efficient commuting networks. The growth in government funding,and initiation of high speed train projects in various countries supports the traction transformer market growth rate. The rising use of railways, especially in the developing economies has increased the demand for traction transformers. Liberal regulation of railway system, along with rapid electrification of rail networks has accelerated the adoption of traction transformer. However, high cost, performance degradation over time,and high prevalence of diesel-powered rail engines in some countries restricts the growth of the market. The growing demand from the emerging economies, and technological advancements are factors expected to offer numerous growth opportunities during the forecast period.
Global Traction Transformer Market, By Mounting Position
Global Traction Transformer Market, By Voltage
Global Traction Transformer Market, By Rolling Stock
Global Traction Transformer Market, by Geography
The market research study on “Traction Transformer Market (By Mounting Position: Roof, Underframe, Machine Room; By Voltage: Alternating Current Traction Transformers, Direct Current Traction Transformers; By Rolling Stock: High Speed Trains, Metro, Electric, Regional Trains, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026” offers a detailed insight of the global Traction Transformer market with analysis of its market segments. Market dynamics with drivers, restraints and opportunities along with their impact on the global market are provided in the report.
This market report comprises a detailed geographic analysis of the Traction Transformer market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, Spain, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, Australia, and Rest of Asia-Pacific. The analysis of Latin America includes Brazil, Chile, and rest of Latin America, whereas MEA includes South Africa, Saudi Arabia, and rest of MEA. Asia-Pacific is expected to grow at a significant rate during the forecast period owing to increasing infrastructure development, expansion of rail network in developing countries, and government investments.
Some major players operating in the global Traction Transformer market include Siemens AG, ABB Ltd., International Electric Co., Ltd., Alstom SA, Mitsubishi Electric Corporation, Schneider Electric, Wilson Transformer Company, and Setrans Holding AS among others. These players are investing in technological development, and are launching new products to cater to the growing demand for consumers. Global players are entering new developing economies for expansion of customer base and strengthening market presence.