Rail Traction Transformer Market Analysis (grow at a CAGR of 4.2%) 2020-2024 By Size, Share, Revenue, and Technology With Impact Analysis of COVID-19

Rail traction transformer is an equipment which is used to transfer electric power from the catenary to the motor by lowering the voltage. These rail traction transformers are used by various locomotives such as passenger locomotives, high speed trains, metros and others. Rail traction transformer is a crucial part of the rail and helps to improve train performance and operator services.

“The CAGR value Could change due to COVID-19 Pandemic”

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Market Size and Forecast

The global rail traction transformer market is expected to grow at a CAGR of 4.2% over the forecast period i.e. 2017-2024. Further, rail traction transformer market is anticipated to accumulate outstanding sales globally by 2024. Further, the market is growing on the back of various factors such as expanding locomotive industry coupled with considerable government funding.

The global rail traction transformer market is segmented by rolling stock, by mounting position, by voltage and by region. On the basis of rolling stock, the global rail traction transformer market is segmented into electric locomotives, trams trains, high-speed trains, metros and others. Among these segments, electric locomotives segment accounted for the largest segment of overall rail traction transformer market in 2016 and is projected to witness a notable CAGR during the forecast period. Moreover, rising electrified rail infrastructure in developing and developed nations such as U.S., China, India and others is believed to augment the demand for rail traction transformer.

On the basis regional platform, Europe region captured the biggest market of rail traction transformer in 2016. Moreover, Europe region is anticipated to continue its dominance over the forecast period. This region is most lucrative market across the globe owing to presence of vast rail network. In addition to this, burgeoning rail passenger and freight traffic, expansion of rail infrastructure and formulation of favorable government regulations regarding implementation of safer technologies in trains are some of the factors paving a positive wave for the growth of rail traction transformer market in Europe region. Moreover, Western Europe countries such as Germany, U.K. and France are witnessing an augmented demand for rail traction transformer due to presence of high speed trains and metros. For instance, according to Association of the European Railway Industry (UNIFE), various new high speed rail lines and trains are to be incorporated in near future. In addition to this, construction of a new high speed line in order to connect London with different regional cities and adoption of new EMU in Germany are believed to augment the demand for rail traction transformer in Europe region.

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North America rail traction transformer market is anticipated to capture significant share in the global rail traction transformer market. In North America region, U.S. is the dominating country owing to adoption high speed train for the Northeast corridor along with favorable government initiatives. Moreover, various rail infrastructure development projects such as California high speed rail project and others are also believed to foster the growth of rail traction transformer market in North America region. Apart from this, Asia-Pacific region is the fastest growing market of rail traction transformer due to presence of emerging economies such as India, China and others. Moreover, rapid expansion of rail industry in this region is expected to foster the growth of rail traction transformer market. For instance, numerous rail projects such as Singapore-Kuala Lumpur high speed line and others are augmenting the demand for rail traction transformer in this region.

Leading Companies of Global Market:

ABB Ltd, Alstom SA, Siemens AG, Mitsubishi Electric Corporation, Daiichi Electric, JST Transformateurs, Avago technologies ltd, SPX transformer, Schneider Electric SA, Setrans Holding AS, Other Notable Players

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Growth Drivers and Challenges

Factors such as increasing government funding and liberalization of rail transport across the globe are believed to foster the growth of rail traction transformer market by the end of 2024. Moreover, continuous advancement in rail traction transformer by major key vendors in order to fulfill the demand is also predicted to foster the growth of rail traction transformer market. Furthermore, heavy investment by government of various nations in order to improve rail infrastructure is one the major factor bolstering the market of rail traction transformer across the globe. Moreover, For instance, government of India awarded a contract worth USD 3.5 Billion to Alstom and General Electric Co. (GE) in 2015. Under this contract, Alstom and GE are directed to supply 801 double section electric locomotives to Indian Railways for the purpose of freight transport during 2018-2028.

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Furthermore, increase in urbanization is likely to influences and impacts on mobility in future. These impacts are expected to augment the development of mega cities requiring smarter and advanced facilities for transportation such as metros, high speed train and others. Moreover, implementation of metro and high speed trains is expected to foster the growth of rail traction transformer market. However, presence of weak rail infrastructure in undeveloped nation is anticipated to hamper the growth of rail traction transformer market.

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