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Traction Transformer Market Size, Share, Growth and Forecast 2023

Traction Transformer Market Overview

The global traction transformer market is estimated to expand at 5.00% CAGR during the forecast period. Traction transformer is an electrical device that transforms power from one circuit to another. Tt is one of the most vital components of an electric traction system as it feeds power at safe voltages to essential train functions like traction, heating and ventilation, lighting, brakes, signaling and communication. These transformers are majorly used in high speed trains and electric locomotives where a very high-power rating of over 5.5 MVA is required.

With advancements in railway infrastructure globally and increasing government investments are thereby driving the market for traction transformer over the forecast period. In addition, shift to traction transformers in order to address environmental concerns due to their inherent properties including higher power to weight ratio, low running cost of locomotives, less noise pollution and lack of dependence of crude oil, is also expected to drive the market over the forecast period

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Leading Players

The key players of the 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.

Industry Segmentation

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.

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Regional Outlook

Region wise, Asia Pacific held the largest market share of the global traction transformer market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising population leading to increased connectivity across the region. Moreover, the increasing investment in high-speed rail network, development of new lines, and expansion of existing rail networks are driving the demand for traction transformers in this region.

Scope of this Report

This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global traction transformer market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis

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