With the emergence and long-term Impact of COVID-19, Global Traction Transformer Market to reach USD 1054.61 Million by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Traction Transformer Market points towards a potential rise to USD 1054.61 Million by 2030. A traction transformer is an electrical device used in electric rail systems, such as electric locomotives, trams, and electric multiple units, to convert the high-voltage power from the overhead catenary into the lower voltage required by the traction motors. It is a critical component in the power supply system of electric trains, enabling the efficient and reliable transfer of electrical energy.
The Traction Transformer market is expanding because of factors such as growing rail network and increasing number of locomotives. The primary function of a traction transformer is to step down the high-voltage AC power from the grid or power distribution system to a lower voltage suitable for the traction motors. Its importance has progressively increased during the forecast period 2023-2030.
Geographically, the global Traction Transformer market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Europe dominated the market in 2022 owing to the rising government investments and favorable regulations aimed at establishing advanced railway infrastructure. Furthermore, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as expanding railway network infrastructure and active participation of public and private governing organizations.
The global Traction Transformer market is highly competitive owing to the presence of several key manufacturers such as Hitachi ABB Power Grids Ltd Siemens AG Toshiba Corporation Mitsubishi Electric Corporation SPX Transformer Solutions Inc MGM Transformer Company Neeltran Inc Altrafo Srl Alstom SA JST Transformers Group, and others.
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Key findings of the study suggest:
- Global Traction Transformer Market is anticipated to grow with a healthy growth rate of more than 4.90% over the forecast period 2023-2030.
- In the Voltage Network segment, Alternative Current (AC) systems emerged out as the leading market segment in 2022.
- Europe is anticipated to drive regional growth owing to rising government investments and favorable regulations aimed at establishing advanced railway infrastructure.
- Asia Pacific is expected to grow at higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Voltage Network:
- Alternative Current (AC) systems
- Direct Current (DC) systems
By Mounting Position:
- Over the Roof
- Machine Room
- Under the Floor
By Rolling Stock:
- Electric locomotives
- Metros
- High-speed trains
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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