New York, July 10, 2023 (GLOBE NEWSWIRE) -- Persistence Market Research predicts a US$ 1.4 billion market for traction transformers by 2033. Over the next decade, the market is predicted to grow by 6.7%. A traction transformer, also known as a train transformer, is an essential component of an electric railway system. Electrical power is provided to traction substations, which in turn supply power to trains. Electrical power is transferred efficiently between the grid and railway system with traction transformers. Through the use of these devices, an extremely large amount of energy can reach the trains without being wasted during transmission.
A traction transformer converts grid voltage into the voltage trains need to run. As a result, trains' electrical systems are compatible with the railway network's power distribution system. Temperature variations, mechanical vibration, and electrical stresses are all factors that train transformers need to withstand during operation. Due to their high reliability and minimal maintenance requirements, they are built to last for a very long time.
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As railway substations and rolling stock have limited space for installation, traction transformers are typically compact and space-saving. Combined with their compact design, they make it easier for them to be integrated into the overall railway system. The traction transformer incorporates numerous safety features to protect passengers, train operators, and maintenance personnel from electrical faults. In addition, fault detection systems are equipped with overcurrent protection, temperature monitoring, and fault detection.
Single-phase transformers are designed to handle the high mechanical stresses of locomotive applications and rapid temperature changes. Train performance and operator services are highly dependent on the performance of traction transformers in the traction system. Power is usually supplied to electric locomotives through traction substations along the railway tracks.
Key Takeaways from Market Study
- Between 2018 and 2022, the traction transformer market witnessed a 4.6% CAGR.
- A revenue share of US$ 200.2 million is expected to be generated in the United States by 2033.
- By 2033, the AC market is expected to grow by 6.2% for traction transformers.
- Projections show that Europe will produce 19.8% of all traction transformers by 2033.
- According to estimates, the traction transformer market in the United Kingdom will generate US$ 36 million by 2033.
- Between 2023 and 2033, the Japanese traction transformer market is expected to grow at a 6.9% CAGR
- Electric locomotives are forecast to grow at a CAGR of 6.5% by 2033.
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“Traction transformers are going to get more popular with enhanced security and advanced technologies. Compact, durable, and reliable designs are expected to increase in demand over the next few years,” says an analyst at Persistence Market Research.
Market Segmentations
- By Rolling Stock (Electric Locomotives, Freight Locomotives, Passenger Locomotives, High-speed Trains, Metros)
- By Mounting Position (Underframe, Machine Room, Roof)
- By Overhead Line Voltage (AC, 1.2KV, 15KV, 20KV, 25KV, DC, 0.75KV, 1.5KV, 3KV)
- By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa)
Key Market Players
Traction transformers are used in many applications and gain market share every year. Developing partnerships and collaborating with key players will enable them to expand into new markets. traction transformers are being developed by a number of companies, including:
- ABB Ltd
- Alstom SA
- JST transformateurs
- Mitsubishi Electric Corporation
- Siemens AG
- EMCO Limited
- Hind Rectifiers Ltd
- International Electric Co., Ltd.
- Wilson Transformer Company
- Toshiba Corporation
- Neeltran Inc
Key Market Developments:
- In June 2023, VLI, a company that offers logistics solutions, signed an agreement for the purchase of nine Wabtec Evolution Series locomotives (ES43BBI model) that will be used in cargo transportation on Ferrovia Centro-Atlântica (FCA). VLI continues to invest in the national rolling stock industry with this order worth approximately R$200 million. Approximately 18 months will pass before the first locomotives are delivered.
- In December 2022, Amtrak announced its plans for its electro-diesel push-pull trainsets to be used on intercity medium-distance service under the name Airo, ordered from Siemens Mobility. Airo trains are scheduled to enter service in 2026-31 following the delivery of the first set of trains in 2025.
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Know More about Report Inclusions
Persistence Market Research published a new market report on the traction transformer market, covering a global industry analysis of 2018 to 2022 and forecasts for 2023 to 2033. This research report provides compelling insights into the rolling stock, mounting position, and overhead line voltage across all major regions.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
For additional information on how traction transformer sales will increase in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
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