The latest report by IMARC Group, titled “Traction Transformers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global traction transformers market reached a value of US$
676.9 Million in 2021. Traction transformer refers to a key component of the traction chain that affects the performance and operator services of a train. It is generally used in the railway industry to provide power supply to railway electric vehicles. Traction transformer is mounted in the machine room, on the roof, or under the floor of the train, offering maximum flexibility and reliability in the single and multiphase systems. The transformer transfers energy from one circuit to another through the process of electromagnetic induction. It is manufactured with non-flammable, high-temperature and vibration resistant materials, which are equipped to work under any climatic condition. Over the years, traction transformers have gained prominence as an appropriate substitute for fossil fuels, as they can run on both alternate (AC) and direct current (DC) systems.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Traction Transformers Market Trends:
The major factor driving the market growth is the extensive investments made by governments of different nations to enhance the railway infrastructure. They are also developing numerous intracity railway infrastructure and upgrading the modern electrical systems. In addition, rapid urbanization, increasing number of passengers and growing awareness regarding increased pollution levels have shifted consumer preference toward public transport over private transport, thereby fueling the demand for traction transformers. Furthermore, the increasing congestions due to road traffic coupled with the introduction of high-speed trains is also positively impacting the market growth. In addition to this, the extensive research and development (R&D) activities have led to the development of innovative equipment that can help reduce noise, carbon emissions, power losses, and total energy cost of trains while also increasing their efficiency and performance. On account of these factors, the market is expected to grow at a CAGR of 5.4% during the forecast period (2022-2027).
- Based on the type, the market has been segmented into tap changing, tapped, and rectifier.
- On the basis of the rolling stock, the market has been classified into electric locomotives, high-speed trains, metros, and others.
- The market has been categorized based on the mounting position into underframes, machine rooms and roofs.
- On the basis of the overhead line voltage, the market has been segregated into alternative current (AC) and direct current (DC) systems.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being ABB Limited, Alstom Holdings, EMCO Limited, Hind Rectifiers Limited, International Electric Corporation Limited, JST Transformateurs, Schneider Electric SA, Setrans Holding AS, Siemens Aktiengesellschaft, and Wilson Transformer Company.
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