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TMR Updates Electric Traction Systems Market Forecast and Analysis as Corona Virus Outbreak Disturbs Investment Plans
Electric Traction Systems Market
In a recent merger between Alstom and ABB Ltd. in November 2016, ABB Ltd. contracted with Alstom for supplying 1600 traction transformers for 800 electric freight locomotives in India. Alstom S.A., ABB, Ltd. (Switzerland), The KONAR Group, Delphi Automotive LLP, Siemens AG, Voith GmbH , Schneider Electric SE, Mitsubishi Electric Corporation, The Curtiss-Wright Corporation, Toshiba Corporation, Prodrive Technologies, General Electric, Co., Bombardier Inc., CG Power and Industrial Solutions Ltd., American Traction Systems, Caterpillar Inc., VEM Group, TTM Rail – Transtech Melbourne Pty Ltd., Traktionssysteme Austria GmbH, Kawasaki Heavy Industries Ltd., Hyundai Rotem Company , Ansaldo Signalling, Hitachi, Ltd. are some of the key firms leading the global electric traction systems market.
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electric traction systems marketAccording to Transparency Market Research, the electric traction systems market is anticipated to witness a tepid growth with 2.5% CAGR within the forecast period from 2017 to 2025. The market was valuated to be worth US$342.94 bn in year 2016 and is likely to reach around US$426.54 bn by the end of 2025. Based on type, the electric traction motor segment held 63% of overall shares in 2016 in electric traction systems market, owing to its several applications in electric traction systems. Geographically, Asia Pacific region led the entire market in 2016, with 35% of overall market, where India and China contributed majorly to its growth, trailed by Japan and Australia.
Rise in Use of Electric Locomotives to Propel Demand for Electric Traction Systems Market
Increased rate of urbanization, modernization of passenger railcars, combined with the tremendous rise in the utilization of electric trains, have been the major factors driving the global market for electric traction systems in past few years. The unfaltering ascent in railway traffic in developing and developed economies is encouraging railroad organizations, government experts, and rolling stock producers to concentrate on modernizing passenger railcars. Besides, the rise in popularity of AC coaches have also supported the demand for electric traction systems, as power utilization of vehicles increase to help ACs.
Urgent Need for Quicker Transportation Service to Boost Global Demand
In addition, the demand for rail-based commute is increasing rapidly because of the rapid surge in the global population and the growing demand for quicker transportation services. This is driving huge change in railroad connectivity and other rail-based transportation systems, which is evaluated to grow further. Rural railroads, for example, trams, metros, and intercity high-speed networks are being planned in various big cities in a many developing economies, which is again anticipated to push the market for electric traction systems in the following couple of years. Besides, ceaseless demand in innovative work has affected the market for electric traction systems.
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This review of the global electric traction systems market is based on a recent market research report by “Electric Traction Systems Market (Type – Electric Traction Transformer, Electric Traction Motor, Electric Traction Generator, Electric Traction Inverter, and Electric Traction Converter; End-use Industry – Automotive, Oil & Gas, Power Engineering / Electrical Engineering, Mining, and Transportation) – Global Industry Analysis Size Share Growth Trends and Forecast 2017 – 2025.”
Key Takeaways:
Increased rate of urbanization, modernization of passenger railcars, combined with the tremendous rise in the utilization of electric trains, have been the major drivers of the global market for electric traction systems.
The demand for rail-based commute is increasing rapidly because of the rising the global population and the growing demand for quicker transportation services.
The electric traction systems market has been segmented as follows:
Global Electric Traction Systems Market by Type
Electric Traction Transformer
Electric Traction Motor
Electric Traction Generator
Electric Traction Inverter
Electric Traction Converter
Others
Global Electric Traction Systems Market by End-use Industry
Automotive
Oil & Gas
Power Engineering / Electrical Engineering
Mining
Transportation
Railways
Electric Traction Transformer
Electric Traction Motor
Electric Traction Generator
Electric Traction Inverter
Electric Traction Converter
Others
Others
Others
Global Electric Traction Systems Market by Region
North America
The U.S.
Rest of North America
Europe
The U.K.
Germany
France
Russia
CIS (Except Russia)
Italy
Poland
The Czech Republic
Switzerland
Austria
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
Middle East and Africa
United Arab Emirates
Iran
South Africa
Rest of Middle-East & Africa
South America
Argentina
Brazil
Rest of South America.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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