Global Traction Transformers Market - Opportunity Assessment and Forecast by Technavio

Technavio has published a new report on the global traction transformers market from 2017-2021. (Graphic: Business Wire)

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LOND0N--()--According to the latest market study released by Technavio, the global traction transformers market is expected to reach USD 108.4 billion by 2021, growing at a CAGR of close to 6%.

This research report titled ‘Global Traction Transformers Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global traction transformers market is expected to grow with the large-scale electrification and infrastructural upgrade of railway networks across the globe. Population density in cities is increasing with the migration of people from rural to urban areas. Increasing economic prosperity and a growing middle-class segment, particularly in the developing economies, have resulted in a shortage of mobility options. There has been a shift in focus toward public transport in the developed economies across the world. The growing inclination of the people toward using public transport in order to put a check on emissions and pollution levels has led to the rise in the electrification of railway networks. This has added impetus to the global traction transformers market.

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Technavio’s heavy industry research analysts categorize the global traction transformers market into the following segments by type. They are:

  • Tapped
  • Tap-changing
  • Rectifier transformers

Tapped

The tapped transformers segment dominated the global traction transformers market in 2016 with a share of 88.82%. Because of their high-power ratings, these transformers are indispensable in electric and high-speed trains. They are priced relatively higher than rectifiers and tap-changing transformers.

According to Gaurav Mohindru, a lead unit operations research analyst from Technavio, “Growing traffic congestion in the urban areas has turned the focus of the authorities toward improved public transportation. Transport authorities worldwide have recognized the role of light-rail vehicles, monorail, and metro rail in public transport. As a result, many countries are investing either in the renovation of their existing light-rail infrastructure or the construction of new ones.”

Tap-changing

The tap-changing type of traction transformers accounts for a lower market share than tapped transformers. These are low priced, and therefore generate less revenue compared with other types of traction transformers. There are two types of tap-changing transformers: off-load tap changing transformers and on-load tap changing transformers.

"An increase in the number of EMUs will also create more demand for traction transformers. For instance, environmental pollution from diesel engines has compelled governments in Europe and the Americas to deploy EMUs, as these are more efficient, less noisy, and generate less pollution,” says Gaurav.

Rectifier transformers

The rectifier transformers segment accounted for the smallest share of the global traction transformers market. They are special application transformers that contain both diodes and thyristors in the same tank as the main transformers. Rectifier traction transformers operate on DC voltage and are used in trams.

There are various tramway projects in progress across the globe, mainly to address the need for sustainable transport. For instance, in 2017, ALSTOM was awarded its first tramway contract in Taiwan for the second phase of the Kaohsiung tramway project. Similarly, there are other planned tramway projects in countries like Iran, Qatar, Australia, and France. The growing number of tramway projects are expected to provide an impetus to the demand for rectifier transformers during the forecast period.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • ABB
  • ALSTOM
  • JST transformateurs
  • Mitsubishi Electric
  • Siemens

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global traction transformers market is expected to reach USD 108.4 billion by 2021, growing at a CAGR of close to 6%.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com