Global Traction Transformer Market Research Report- Forecast till 2024
Global Traction Transformer Market Research Report: Information by Type (Tap Changing and Rectifier), by Overhead Line Voltage (AC System and DC System), by Mounting Position (Underframe, Machine Room and Roof), by Rolling Stock (Electric Locomotives, High Speed Trains and Metros) and by Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
Traction transformers are primarily used in the railway industry to power electric locomotives. Traction transformers convert electric power supplied by the power company to an apt voltage to power the traction motors of the engine and other auxiliaries. The traction transformer transforms high voltage AC to low voltage DC, which is fed to rectifying to run the DC traction motors. The global market for traction transformers is expected to increase at a steady rate during the forecast period and is mainly due to the growth of intracity railway infrastructure and upgrade of electrical systems in rolling stocks. The different developments in transport systems buses, trains, cars, and motorbikes could be used for public commute. Though, in the recent years due to the increasing awareness among people about climate change and growing pollution levels, commuters are choosing public transport over private transport. Since international Union of Railways specified that trains are 2 to 5 times more energy-efficient than road, inland shipping, and aviation, it is one of the most popular means for passenger commute. Furthermore, intracity public transport, especially the metro allows for faster rides compared to buses and cars. Furthermore, metros are much safer for as they run on specified routes, eliminate the risk of accidents. Such factors increase the demand for metros in big cities across the world. For instance, the Indian government is rolling out intracity metro services in the cities including Pune, Coimbatore, Surat, Kanpur, Patna, and Guwahati to help reduce traffic congestions and improve public transport. Most of these railway networks are supposed to be operational by the year 2025. Such growth of metro transport is expected to drive the demand for the global traction transformer market during the forecast period, as such infrastructures are supported by electricity. As per the International Association Public Transport (UITP), as of December 2017, 178 metro systems include an installed asset base of 642 lines covering a length of 13,903 km. This increase in the length of metro lines is primarily due to the new metro line added in 19 cities in China, the addition of metro lines of 577 Km in India and Iran, and the addition of new metro lines covering a length of 820 Km in the established metro cities. As per the statistical data from UITP, globally metro ridership grew by 19.5% between 2011 and 2017 amounting to 53.7 billion.
Global Traction Transformer Market is divided by type, overhead line voltage, mounting position, rolling stock., and region. Based on type, the global traction transformer market has been segmented into tap changing and rectifier. Based on overhead line voltage, the global traction transformer market has been bifurcated into the AC system and DC system. Based on mounting position, the global traction transformer market has been divided into underframe, machine room, and roof. By rolling stock, the global traction transformer market has been segmented into electric locomotives, high-speed trains, and metros.
Geographically, the global traction transformer market has been segmented into five major regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific is one of the prominent regions in the world, has been witnessing an increase in demand for public transport with the increase in population and the technological advancement in transport & infrastructure industry. This is driven by the growth of the traction transformer market in the region. As per the International Association of Public Transport Statistics Report 2018, there are approximately 26,690 million passengers annually in Asia-Pacific.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook