Traction Transformer Market Overview
Global industry is expected to grow faster than ever before due to new technologies and various key industry players choosing multiple business tactics to expand globally by 2030.
Government policies and various regulations are playing vital role in this industry. Regional market growth is outstanding post pandemic. Some drivers and trends are helping the industry to grow at a high CAGR during forecast period 2023-2030.
Traction Transformer Market to grow at a CAGR of 5.13% during the forecast period 2022 - 2030 with growth of intracity railway infrastructure. The market was valued at USD 1.12 billion in 2020.
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Market Segmentation
- Based on the type, the global traction transformer market is segmented into overhead line voltage, various mounting positions, and different rolling stock.
- Based on the division of type, the global traction transformer market has been segmented into tap changing and rectifier.
- Based on the concept of the mounting position, the global traction transformer market has been segmented into various underframes, various machine rooms, and advanced roofs.
- Based on the rolling stock, the global traction transformer market has been segmented into the latest electric locomotives, various high-speed trains, and metros.
- Based on the region, the global traction transformer market has been segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Regional Classification
As a result of multiple distribution channels, Asia Pacific is expected to be the largest contributor. Furthermore, due to increased investment, Australia and China are expected to rise rapidly in the Traction Transformer Markets. There has also been an increase in demand in important developing countries, such as India and China, which are expected to lead growth in various Asia-Pacific markets. Due to the presence of major global companies in this area as well as significant technological improvement, Asia Pacific is leading the Traction Transformer Markets.
Traction transformers are mostly utilized at a greater scale in the railway sector to power modern electric locomotives. Traction transformers convert electric power supplied by the main power company to a suitable voltage level for powering the train engine's different traction motors and other important auxiliaries. The basic traction transformer is designed to convert high voltage AC to low voltage DC, which is then sent directly to the rectifier to power the DC traction motors in the center.
Industry News
The Natural Cooling Effilight Traction Transformer and the RESIBLOC CRAIL 25 kV are two new traction transformers from Hitachi ABB Power Grids. Both of these devices are based on the company's successful and well-proven platforms, Effilight for liquid-filled traction transformers and RESIBLOC for dry traction transformers. These will assist customers in enhancing reliability and lowering operational costs by providing fresh, added value.
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Key Players:
- CG Power and Industrial Solutions Limited (India)
- WEG (Brazil)
- Alstom (France)
- Altrafo Srl (Italy)
- Hind Rectifiers Limited (India)
- JST Group (France)
- Toshiba Corporation (Japan)
- International Electric Co Ltd (South Korea)
- Schneider Electric (France)
- Siemens (Germany)
- ABB (Switzerland)
- Mitsubishi Electric Corporation (Japan)
- Emco Limited (India)
