Market Highlights
Traction transformers are primarily used in the railway industry to power electric locomotives. Traction transformers convert electric power supplied by the power company to an appropriate voltage to power the traction motors of the engine and other auxiliaries. The traction transformer converts high voltage AC to low voltage DC, which is fed to the rectifier to run the DC traction motors.
The various developments in transport systems buses, trains, cars, and motorbikes could be used for public commute. However, in recent years due to the increasing awareness among people about climate change and growing pollution levels, commuters are choosing public transport over private transport. Since the International Union of Railways specified that trains are 2 to 5 times more energy-efficient than road, inland shipping, and aviation, it is one of the most popular means for passenger commute. Furthermore, intracity public transport, especially the metro enables faster rides compared to buses and cars. Additionally, metros are much safer for as they run on specified routes, eliminating the risk of accidents. Such factors increase the demand for metros in major cities across the world. For instance, the Indian government is introducing intracity metro services in the cities including Pune, Coimbatore, Surat, Kanpur, Patna, and Guwahati to reduce traffic congestions and improve public transport. Most of these railway networks are expected to be operational by 2025. Such growth of metro transit is expected to drive the demand for the global traction transformer market during the forecast period, as such infrastructures are supported by electricity.
The global traction transformer market has been segmented based on type, overhead line voltage, mounting position, rolling stock, and region. By type, the global traction transformer market has been segmented into tap changing and rectifier. By overhead line voltage, the global traction transformer market has been divided into the AC system and DC system. By mounting position, the global traction transformer market has been segmented into underframe, machine room, and roof. By rolling stock, the global traction transformer market has been segmented into electric locomotives, high-speed trains, and metros.
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Market Research Analysis
By region, the market is segmented as Europe, North America, Asia-Pacific, South America, and the Middle East & Africa. Asia-Pacific dominates the global traction transformer market. Asia-Pacific is one of the prominent regions in the world, is expected to witness increased demand for public transport with the increase in population and the technological advancement in transport & infrastructure industry, which is expected to lead to the growth of the traction transformer market in the region.
China is the most populated country, is the fastest growing economy in the world. Due to the rapid urbanization and developments in China, the energy demand requirement and the electrification of railways are increasing. According to the World Bank, China has the world’s highest high-speed rail network, with the rapid growth of urbanization and economic development in the country. Further, the increase in demand for public transport infrastructure and the development in the rolling stock infrastructure are expected to drive the demand of the traction transformer market in India. With the developments in the railway infrastructure, the Indian government plans to attract players for the upgrade of rolling stocks in the country.
Scope of the Report
This study provides an overview of the global traction transformer market, tracking four market segments across five geographic regions. The report studies key players, providing a four-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific, Middle East, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global traction transformer market by power rating, portability, end-use, and region.
By Type
- Tap Changing
- Rectifier
By Overhead Line Voltage
- AC System
- DC System
By Mounting Position
- Underframe
- Machine Room
- Roof
By Rolling Stock
- Electric Locomotives
- High-Speed Trains
- Metros
By Regions
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
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Key Players
The major players in the global traction transformer market are ABB (Switzerland), Siemens (Germany), Toshiba Corporation (Japan), Mitsubishi Electric Corporation (Japan), Altrafo Srl (Italy), Emco Limited (India), Alstom (France), JST Group (France), International Electric Co Ltd (South Korea), Schneider Electric (France), Hind Rectifiers Limited (India), CG Power and Industrial Solutions Limited (India), and WEG (Brazil).
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