Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Traction Transformers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global traction transformers market, with a size of US$ 711.1 million in 2022, is anticipated to achieve substantial growth, reaching US$ 976.0 million by 2028. This growth, at a CAGR of 5.5% during 2023-2028, is attributed to the expansion of the high-speed rail sector, advancements in railway infrastructure, and the increasing electrification of rail networks.
Key Market Insights
Traction transformers play a vital role in the electric traction mechanism, facilitating the transfer of energy between circuits through electromagnetic induction. They are essential components in various rail systems, including high-speed and passenger trains, locomotives, trams, and metro rails. These transformers are strategically positioned within locomotives, either in the machine room, on the roof, or under the roof, ensuring maximum reliability and flexibility across multiphase and single systems. Compared to conventional variants, traction transformers offer reduced operating costs, lightweight construction, and higher power output.
Market Drivers
Several key factors are driving the growth of the global traction transformers market:
- High-Speed Rail Sector: The growth of the high-speed rail sector worldwide, accompanied by significant advancements in railway infrastructure, is a prominent driver for the market.
- Electrification of Rail Networks: Rapid electrification of rail networks across the globe is expected to increase the demand for traction transformers.
- Government Policies: Governments in emerging economies are implementing favorable policies to enhance transportation facilities and optimize rail systems.
- Passenger Commuting: The increasing number of passengers and the diversification of travel routes are boosting demand for traction transformers in both traditional and next-generation locomotives.
- Energy Efficiency: Growing awareness of energy-efficient products is driving the adoption of AC transformers, offering eco-friendly and convenient solutions.
- Environmental Concerns: The focus on reducing environmental damage from outdated technologies is encouraging the use of traction transformers.
- Innovations: Efforts to develop equipment with minimal noise, carbon emissions, power losses, and operating costs are creating a positive outlook for the market.
Market Segmentation
The report offers comprehensive analysis and segmentation of the global traction transformers market, including:
- Type: Tap Changing, Tapped, Rectifier.
- Rolling Stock: Electric Locomotives, High-Speed Trains, Metros, Others.
- Mounting Position: Underframe, Machine Room, Roof.
- Overhead Line Voltage: Alternative Current (AC) Systems, Direct Current (DC) Systems.
- Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Competitive Landscape
Key players in the global traction transformers market include ABB Limited, Alstom Holdings, EMCO Limited, Hind Rectifiers Limited, International Electric Corporation Limited, JST Transformateurs, Schneider Electric SA, Setrans Holding AS, Siemens Aktiengesellschaft, and Wilson Transformer Company, among others.
Key Questions Answered
The report addresses critical questions about the global traction transformers market:
- Performance of the market and future projections.
- Impact of COVID-19.
- Key regional markets.
- Market segmentation by type, rolling stock, mounting position, and overhead line voltage.
- Factors driving market growth and challenges.
- Structure of the market and key players.
- Degree of competition in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $711.1 Million |
| Forecasted Market Value (USD) by 2028 | $976 Million |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/z5t5so
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