23 July 2019
Visiongain has launched a new report Traction Transformer Market Report 2019-2029: Forecasts by Systems (Alternating Current Systems, Direct Current Systems), by Application (Electric Locomotives, Metros, High Speed Trains) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global traction transformer market is expected to present promising growth prospects over the forecast period. Advancements in railway infrastructure, growing demand for faster commuting means, and favorable governmental initiatives are expected to drive the traction transformer market through the forward period. However, some of the factors that may hinder the market growth are inadequate power supply and performance degradation or voltage drops.
Traction transformer is an electronic tool that is used to design and manufacture the railway system. The device enables the transfer of energy through electromagnetic induction from one circuit to another. Traction transformers are an integral part of the electric traction system that substituted the old traction system run by fossil fuels. On the basis of systems, the traction transformers can be divided into two segments, AC (alternative current) systems and DC (direct current) systems. On the basis of applications, the market is segmented by electric locomotives, metros, high speed trains, and others. These devices are manufactured using raw materials that are non-flammable as well as high temperature and vibration resistant. This is due to the fact that traction transformers have to deal with dynamic working and climatic conditions across the globe. Such complex requirements and design standards for railway power supply systems may pose as an impediment for the traction transformer market growth. However, rapid electrification of railway networks, rising number of passengers, and increased adoption of diesel and electric high speed trains, trams, and locomotives will propel the market growth over the forecast period.
Some of the key players operating in the market include ABB, Siemens, Alstom, JST Transformateurs, Hind Rectifiers Limited, International Electric Co, Ltd, Mitsubishi Electric Corporation, Schneider Electric, Wilson Transformer Company, Grid Solutions (General Electric), Setrans Holding AS, and EMCO Limited. These companies are adopting strategic initiatives such as entering into public-private partnerships to gain competitive advantage and to develop of railway infrastructure around the world.
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