According to IMARC Group’s latest report, titled “Traction Transformers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a value of US$ 650 Million in 2020. A traction transformer is extensively used to transfer energy from one circuit to another using electromagnetic induction. It is one of the crucial elements of the electric traction mechanism that consist of alternating current (AC) and direct current (DC) systems. The electronic device helps in significantly reducing the operating costs, providing higher power output, and are comparatively lighter in weight than the traditional variants. As a result, they are largely used in high-speed and passenger trains, metro rails, and locomotives.
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The increasing demand for traction transformers on account of the electrification of rail networks across the globe is one of the key factors primarily driving the market growth. Apart from this, rapid advancements in the railway sector and the increasing use of traction transformer in traditional and high-speed trains are some other growth-inducing factors. Moreover, the government initiatives to strengthen the railway sector is creating a positive outlook for the market. Looking forward, IMARC Group expects the traction transformers market to grow at a CAGR of around 5% during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- ABB Ltd.
- Alstom SA
- EMCO Limited
- Hind Rectifiers Ltd.
- International Electric Co., Ltd.
- JST Transformateurs
- Schneider Electric SA
- Setrans Holding AS
- Siemens AG
- Wilson Transformer Company
Breakup by Type:
- Tap Changing
Breakup by Rolling Stock:
- Electric Locomotives
- High-Speed Trains
Breakup by Mounting Position:
- Machine Room
Breakup by Overhead Line Voltage:
- Alternative Current (AC) Systems
- Direct Current (DC) Systems
Breakup by Region:
- North America
- United States
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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