Traction Transformer Market Analysis Report By Mounting Position, By Voltage Network, By Rolling Stock And Segment Forecasts From 2019 To 2025

Industry Insights

The global traction transformer market size was accounted for USD 594.0 million in 2018 and is projected to grow at the CAGR of 4.9% over the forecast period, 2019 to 2025. Rail infrastructure development along with growing demand for a fast commutation network is projected to boost the market growth. 

Various OEMs are engaging in private-public partnerships (PPPs) for developing efficient rail infrastructure. In addition, supporting government initiatives for building enhanced public transportation is supporting the market growth. All these key factors are projected to bolster operational capacity for rail infrastructure.

Furthermore, the rising adoption of traction systems in next-generation electric and diesel locomotives and tram-trains is anticipated to support improved travel routes in the next few years. 

The traction system is manufactured using high-temperature, vibration-resistant, and non-flammable materials to support different climatic conditions. However, complex designs in railway power systems may hinder the market growth. 

Voltage Network Insights

The traction transformers market is divided into direct current systems and alternative current systems depending on the voltage network. In 2018, alternative current systems attributed to over 69.0% market share in the overall market. It is projected to register a higher CAGR over the forecasted period.

Increasing demand for energy-efficient systems owing to rising environmental concerns is expected to proliferate the demand for AC systems. In addition, the growing popularity of AC-type systems in railways is projected to positively impact market growth. 

Mounting Position Insights

Mounting positions are segmented into under the floor, machine room, and roofing categories. In 2018, the machine room and under the floor segment together constituted a market share of more than 84.0% in the overall market.

The machine room category is anticipated to grow at a CAGR of around 5.8% from 2019 to 2025.  On the other hand, under the floor category is expected to expand at a substantial rate, it provides benefits including larger space area in the train. Thus, the segment is projected to have significant growth across developing economies wherein there is an increase in population from the past few years. 

Machine room equipment provides higher flexibility and reliability in railing systems. The growing adoption of this equipment in high-speed trains and electric locomotives is expected to support the market growth.

Rolling Stock Insights

In 2018, the electric locomotives segment dominated the market with the highest share in the overall market, contributing over 69.0% of the total share. Electric locomotives are growing in demand and are getting replaced with steam and diesel locomotives.

Development in the railway sector is now shifting towards adopting advanced technologies, especially in fast cleaning solutions. This trend is projected to surge the demand for traction systems in the next few years. 

Regional Insights

In 2018, the Asia Pacific and Europe together held the major share of over 60.0% in the overall market. In the European market, there is a higher adoption of new technologies which in turn is expected to bolster the demand for rail infrastructure development equipment. In the Asia Pacific, supportive government regulations & funding are proliferating the growth of traction systems in rail services.

In addition, a rising rail network across developing economies including high-speed metros is prominently projected to support the market growth. Moreover, the growing adoption of electrified railroads is also anticipated to bolster the need for traction transformers.

Countries such as Switzerland, Netherlands, Japan, and Belgium are key markets in urban electrified rail systems. These regions are projected to open up growth opportunities for traction transformer equipment.

Impact of COVID-19

COVID-19 outbreak has unsettled the production of traction transformers, and also curtailed the demand for transformers across the globe. Several companies have their production facilities in China, which was first hit by the coronavirus. Subsequently, lockdown, travel ban, and stoppage of international trade have hampered the growth of the market.

In addition, various companies have resumed their production and partly or fully in some regions. For example, ABB has opened its majority of production facilities. Therefore, the opening of manufacturing facilities is estimated to drive market growth over the next few years.

Traction Transformer Market Share Insights

Leading players in the market include EMCO Limited, Alstom, ABB, and Siemens. The market is highly competitive in nature with the presence of global & established players. Key players in the market are focusing on public-private partnerships (PPP) to remain competitive in the market.

Key players in the market engage in developing innovative products with higher energy efficiency and low power consumption. Some of the players invest in R&D activities to expand their product portfolio. 

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global traction transformer market report on the basis of voltage network, mounting position, rolling stock, and region:

• Voltage Network Outlook (Revenue, USD Million, 2014 - 2025)
    • Alternative Current (AC) systems
    • Direct Current (DC) systems

• Mounting Position Outlook (Revenue, USD Million, 2014 - 2025)
    • Over the Roof
    • Machine Room
    • Under the Floor

• Rolling Stock Outlook (Revenue, USD Million, 2014 - 2025)
    • Electric locomotives
    • Metros
    • High-speed trains
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa (MEA)