Traction Transformer
Market size and Growth Rate:
According
to our research report, the Traction Transformer Market Size is estimated to be
USD 1508 Million in 2017 and is projected to reach USD 1758 Million by 2022, at
a CAGR of 5.84% from 2017 to 2022.
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Report developed on Traction Transformer Market @ https://www.researchcosmos.com/reports/traction-transformer-market/2119395824
Traction Transformer
Market Overview:
The traction transformer is an electrical device which is
practiced in designing and manufacturing of railway system. It gives the energy
from one circuit to another through electromagnetic electricity. The principal
application areas for traction transformer include electrical multiple units,
high-speed trains, and double-decker electrical multiple units, among
others.
Traction Transformer
Market Growth Drivers and Restraints:
Important government funding for rail infrastructure
development will drive the market for traction transformers. Furthermore, the
shift towards low carbon rail transport and liberalization of rail transport
network are also expected to positively trigger the traction transformer
market. Also, there is a growth in the demand for electric vehicles across the
globe which results in a reduction in carbon emissions, which will drive the
market of traction transformer.
The global traction transformer market is predicted to
grow at a moderate rate during the forecast period, mainly due to growing power
sector and power generation capacities across the globe. Some of the factors
restraining the market are the voltage drop or special degradation, which
hinders the smooth functioning of the transformer system. Further, inadequate
power supply also acts as a challenging factor in the growth of the market.
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Traction Transformer
Market Geographical Segmentation:
Based on regions, Asia Pacific (APAC) is the largest
region in the traction transformer market and is anticipated to witness
increased investments in the railway sector, principally in the nations like China,
India, and Japan. Europe is the biggest market in terms of revenue and early
development of electric traction technology is the main driver that contributes
to the growth of this market in Europe. APAC region is the quickest growing
market by the revenue due to the high-density population in countries like
China and India. It is expected that the Asia-Pacific region would be the
fastest growing market during the forecast period, largely due to the rising
population leading to increased connectivity across the region. Moreover, the
increasing investment in the high-speed rail network, the development of new
lines, and expansion of existing rail networks are driving the demand for
traction transformers in this region.
Key Players of the Traction
Transformer Market:
Some of the key players of global traction transformer
market include International Electric Co., Ltd., EMCO Limited, Wilson
Transformer Company, Alstom SA, ABB Ltd, JST Transformations, Siemens AG,
Mitsubishi Electric Corporation, Suntan Electric, and Veterans Holding AS,
among others.
Traction Transformer
Market Segmentation:
By Type:
·
Dry-type Traction Transformer
·
Oil-immersed Traction Transformer
By Application:
·
Railways
·
Urban Transportation
By Region:
·
North America
·
South America
·
Europe
·
Asia Pacific
·
Middle East and Africa
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