The global traction transformer market size is expected to reach USD 827.1 million by 2025, according to a study by Grand View Research, Inc., progressing at a CAGR of 4.9% during the forecast period. Fast pace of modern lives and surging demand for high-speed commute options are promoting several changes in rail infrastructure across the globe, including shift to technologically advanced electric locomotives. This trend is anticipated to provide a significant push to the market over the forecast period.
Furthermore, favorable government initiatives, including introduction of various policies, funding for high-speed locomotives, and implementation of safer technologies in trains, are leading to positive developments in the global rail infrastructure sector. Increasing expenditure on comfortable and convenient traveling are also encouraging several developments in rail infrastructures worldwide. These transformations are likely to result in greater demand for traction transformers in the next few years.
For PDF sample Copy or More Details please visit link @: https://www.grandviewresearch.com/industry-analysis/traction-transformers-market
Growing environmental concerns regarding power consumption, costly and unsafe locomotives, noise pollution, and dependence on crude oils are impelling adoption of traction systems. Furthermore, expansion of rail transport networks for better traffic management, saving time required for commute, and providing cost-efficient services are stirring up their demand in rail systems globally.
Worldwide, rising number of rail projects is translating into increased adoption and implementation of traction transformers on a large scale. Presence of a limited number of market players offering these products has resulted in fierce competition. Resultant concentration of projects and revenue in hands of a select few companies, which often results in risk of efficiently managing supply and demand, can challenge the growth of the market over the forecast period.
Further key findings from the study suggest:
• Traction transformers provide several benefits over conventional fossil-fuel based traction systems, including rapid acceleration, space availability, cost-efficiency, light-weight, and low power consumption
• Based on voltage network, the alternative current (AC) systems segment held the largest market share in 2018. The demand for AC traction systems is driven by increased adoption of electric locomotives for long-distance travel routes
• Based on mounting position, the machine room segment is poised to exhibit a CAGR of 5.8% over the forecast period. The growth of the segment can be attributed to maximum flexibility and low maintenance offered by equipment mounted in machine rooms
• Based on rolling stock, the electric locomotives segment commanded the highest revenue share in 2018. Upswing in the demand for electrified rail systems has played a pivotal role in high demand for electrical locomotives over the years
• Europe held the dominant share in terms of revenue in 2018. Early development of electrified rail network and favorable regulatory policies aimed at developing efficient public transport are projected to stimulate the growth of the regional market
• Prominent industry participants include Siemens, ABB, Alstom, and EMCO Limited
• These market players are engaged in offering differentiated product portfolio and in entering private-public partnerships to withstand competition. For instance, recently ABB was awarded contracts by governing bodies for the development of metro infrastructure across major metropolitan cities.
To request research report sample copy with TOC please visit @: https://www.grandviewresearch.com/industry-analysis/traction-transformers-market/request/rs1
Grand View Research has segmented the global traction transformer market based on voltage network, mounting position, rolling stock, and region:
Traction Transformer Voltage Network Outlook (Revenue, USD Million, 2014 - 2025)
• Alternative Current (AC) systems
• Direct Current (DC) systems
Traction Transformer Mounting Position Outlook (Revenue, USD Million, 2014 - 2025)
• Over the Roof
• Machine room
• Under the floor
Traction Transformer Rolling Stock Outlook (Revenue, USD Million, 2014 - 2025)
• Electric locomotives
• Metros
• High-speed trains
• Others
Traction Transformer Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o China
o India
o Japan
• Latin America
o Brazil
o Mexico
• Middle East & Africa
For Inquire before buying please visit @: https://www.grandviewresearch.com/inquiry/1122/ibb
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.