Press release
Traction Equipment Market : Growth, Demand, Supply, SWOT, Consumption, ROI to 2024
Browse Market Research Report: http://www.transparencymarketresearch.com/traction-equipment-market.html
Transparency Market Research has projected that the market sold about 1.1 mn units in 2015 and the demand will reach 1.3 mn units by the end of 2024, growing with a steady CAGR of 2.34% during the period 2016-2024.
Based on product type, traction motors segment has dominated the overall market and accounted for 80% of the share to the market in 2015. This segment is expected to sustain its leading position over the forecast period. Geographically, Asia Pacific emerged as a leading market, contributing to around 40% to the global market in terms of both volume and revenue.
Development of Railway Infrastructure for Better Transportation to Assist Market Expansion
The global traction equipment market is propelled by the development of railway sector and investments in this sector. The increasing demand for advanced equipment for railway sector has resulted in a tremendous growth in the overall market of traction equipment. The expansion and development of railway networks and the surging investments in countries such as Spain, South Africa, China, India, and the U.S., are expected to allot a potential rise to the revenue and the volume of the market. Furthermore, regulations and policies modulated by various governments to curb emissions from transportation are most likely to assist the market expand over the forecast period. Demand for EV traction motors is surging due to the emergence of electric vehicles. This trend in the automotive sector is envisioned to drive the market for traction equipment. In addition, the capability of traction motors of efficiently converting electrical power into mechanical power is most likely to fill-in the increasing demand for efficient power converting products from various industries.
Get TOC Of This Report @ http://www.transparencymarketresearch.com/report-toc/13115
Poor Manufacturing and Shipping Services Could Restrain the Market Growth
The unit-wise shipment of products in the railway sector is exceptionally low. Furthermore, the delivery time and manufacturing time for the products of traction equipment in the railway sector is high compared to automobile sector. These factors could hinder the growth of the market. Furthermore, the replacement requests and off-the-shelf sales are rare, which is further limiting the market to grow with its concealed potential. However, the increasing applications of traction equipment products in the machinery and automotive is expected to sustain the market growth. The demand for equipment such as compressors, blowers, rectifiers, controllers, and other auxiliary systems in the railway segment is increasing, further helping the market to expand. Moreover, the increasing demand for vehicles commuting in all terrains are expected to register a high demand for advanced products. The evolution of hybrid technology is anticipated to sustain the market growth over the forecast period.
Get accurate market forecast and analysis on the Traction Equipment market. Request a sample to stay abreast on the key trends impacting this market @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=13115
This information is taken from the report, “Traction Equipment Market (Equipment Type - Traction Transformer, Traction Motor, Traction Converter) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024.”
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Traction Equipment Market : Growth, Demand, Supply, SWOT, Consumption, ROI to 2024 here
News-ID: 711160 • Views: …
More Releases from Transparency Market Research-Energy & Mining
Dynamic Voltage Restorer Market - Financial Status over Forecast Period 2014-202 …
Global Dynamic Voltage Restorer Market: Overview
With the ever-increasing demand for power, industries are increasingly deploying systems that ensure uninterrupted generation, transmission, and distribution of power to minimize their losses in terms of revenue, resources, and productivity. This is positively influencing the growth of the global dynamic voltage restorer market. Dynamic voltage restorers are principally accountable for offering reliable and cost effective protection against power fluctuations. They allow consumers to isolate…
Gas to Liquids (GTL) Market - Get Facts About Business Strategies 2016-2024
Global Gas to Liquids Market: Overview
Gas-to-liquids (GTL) involves converting natural gas into high-quality liquid fuels, which are traditionally obtained from crude oil. At present, the ever-increasing demand for energy and the growing world population has necessitated the development of alternate energy sources to ease the burden on conventional sources. With the rising environmental considerations of conventional sources of energy, clean sources of energy are needed for reduced carbon footprint.…
Landfill Gas Market - Research report 2014 : 2020
Global Landfill Gas Market: Overview
Landfill gas (LFG) can be utilized for energy generation and to reduce methane emissions in the atmosphere to translate into positive outcomes for local communities. Landfill gas is obtained as a natural byproduct of microbial decomposition of organic matter in landfills. Landfill gas consists almost 50% methane, 50% percent carbon dioxide and a small percentage of complex organic compounds and other compounds.
Landfill gas is utilizable for…
Copper Indium Gallium Selenide (CIGS) Solar Cells Market - Global Industry Analy …
CIGS (Copper indium gallium selenide) is a semiconductor with direct bandgap which is used for solar cells manufacturing. The absorber of CIGS is placed on a glass or plastic backing, together with electrodes on back and front for current collection. Since the material powerfully absorbs sunlight and has a higher absorption coefficient, comparatively as compared to other semiconductor material, a thin film is required. The devices which are prepared with…
More Releases for Traction
SPINALTRAX LUMBER TRACTION REVIEWS 2022( USA AND CANADA UPDATE): DOES THIS TRACT …
Most individuals will have lower back pain at some time in their life since it is so widespread. In fact, lower back pain is the most frequent cause of employment-related impairment and one of the main causes of missed work in the US, according to the National Institute of Neurological Disorders and Stroke (NINDS).
One of the most frequent causes of missed work days is lower back discomfort, which is highly…
Traction Chains Market Will See Strong Expansion Through 2028: Pewag, Rud, Peerl …
The market report delivers an all-inclusive analysis of the market structure along with a forecast of the various segments and sub-segments of the Traction Chains industry. This wide-ranging market research report acts as a backbone for the success of business in any niche. The Traction Chains market survey report has been prepared by conducting market research in a systematic manner. Moreover, the Traction Chains report includes a professional in-depth study…
Automotive Traction Motor Market: Post COVID Growth Opportunity Analysis, ABB, A …
According to the report, the global Automotive Traction Motor market is expected to grow from $3.26 Billion in 2020, which is expected to reach $32.28 Billion by 2028, growing at the CAGR of 33.04% from 2020 to 2028. This growth is attributed to a rise in demand for high-performance motors, favorable government policies, and subsidies. The automotive Traction Motor Market is gaining momentum owing to the rising demand for advanced…
Traction Locomotive Market Analysis Report By Key Players- General Electric, Bru …
UpMarketResearch offers a latest published report on “Global Traction Locomotive Market Industry Analysis and Forecast 2018-2025” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 152 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability.
Get Free Sample Report@ https://www.upmarketresearch.com/home/requested_sample/3136
The report begins with the overview of the Traction Locomotive market and…
Railway Traction Motor Market by Type (Direct Current Traction Motors, Alternati …
The global railway traction motor market was valued at $30.3 billion in 2016, and is estimated to reach $41.6 billion by 2025, growing at a CAGR of 3.8% from 2017 to 2025. Railway traction motor is a type of electric motor, which is used in electrically powered rail vehicles. The global railway traction motor market is expected to witness a significant growth in the future, owing to the technological advancements…
Railway Traction Motors Market - Railway Traction Motors Most Widely Used in Die …
The railway traction motors market in North America is consolidated to a certain degree, with the five leading players collectively accounting for a share of over 55% in 2015. These players are ABB Ltd., Bombardier Inc., Mitsubishi Electric Corporation, Alstom S.A., and Siemens A.G. Transparency Market Research states that considering the current trends in the railway traction motors market in North America, the market shares of some of the key…
