Traction Transformer Market Analysis, Size, Share, Development, Growth & Demand Forecast 2018 -2023

Traction Transformer Market Research Report: Information by Mounting Position (Underframe, Machine Room, & Roof), Overhead Line Voltage (AC & DC) Rolling Stock (Electric Locomotives, High-Speed Trains, & Metros), and Region – Forecast till 2023
Market Scenario

Traction transformer is an important component which is designed to transform power from the locomotives overhead power which is delivered to the electric motors. As a result, motors turn the wheels of the locomotive. These transformers are generally available in the range of up to 7500 kVA, 25 kV class and are designed according to railway system and said parameters.

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These transformers are especially designed for very harsh environment and are used for heavy freight loads over long distances of more than 1,000 km. The major application areas for traction transformer include high-speed trains, electrical multiple unit, and double-decker electrical multiple units, among others.

Significant government funding for rail infrastructure development will drive the market for traction transformer market. Moreover, shift towards low carbon rail transport and liberalization of rail transport network are also expected to positively trigger the traction transformer market. Moreover, Asia-Pacific being the largest region in traction transformer market, is expected to witness increased investments in railway sector, mainly India, China, and Japan. Also, there is rise in the demand for electric vehicles across the globe which results into reduction in carbon emission. All these factors will drive the market of traction transformer.

The Global Traction Transformer Market is projected to grow at a moderate rate during the forecast period, mainly due to growing power sector and increasing power generation capacities across the globe. For instance, global installed power capacity reached 6,437 GW in 2016 with growth rate of 4.1%. Also, significant development being made in Asian countries such as China and India including the increasing use of coal resources has driven the growth of traction transformers used in the power sector.

Global traction transformer has been segmented based on mounting position, overhead line voltage, and rolling stock. Based on rolling stock, the market has been classified into electric locomotives, high-speed trains, and metros. Electric locomotives segment expected to grow at the highest CAGR during the forecast period. The demand for electric locomotives is increasing in order to reduce the emissions and to increase efficiency of the vehicles by decreasing the dependence on internal combustion engines. This will drive the market for traction transformer that are used in electric locomotives/vehicles.

The Global Traction Transformer Market is expected to grow at ~5.00% CAGR during the forecast period.

Market Segmentation

Global Traction transformer Market

Global Traction Transformer Market is expected to witness a moderate growth rate during the forecast period owing to significant government funding for rail infrastructure development and liberalization of rail transport network. For instance, in February 2018, BNSF (US) invested USD 3.3 billion in network expansion. Moreover, Ford Co would double its electrical vehicle spending and invest USD 90 billion. China is estimated to be the leading market for electric vehicles. The sales of plug-in hybrids in China are projected to reach 12.43 million cars by 2035. These developments would positively impact the demand for traction transformer globally.

Moreover, Rising urbanization, demand from the railway sector, and supportive government plans are expected to drive the market for electric traction transformer in this region. China, India, and Japan are the leading countries contributing to the growth of the electric Traction Transformer Market in Asia Pacific.

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Key Players

The key players of Global Traction Transformer Market are Wilson Transformer Company (Australia), International Electric Co., Ltd. (South Korea), EMCO Limited (India), Mitsubishi Electric Corporation (Japan), Alstom SA (France), ABB Ltd (Switzerland), JST Transformateurs (France), Siemens AG (Germany), Sunten Electric (China), and Setrans Holding AS (France), among others.

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This release was published on openPR.