A new global traction transformer market research report has been made available by Transparency Market Research, titled “Traction Transformer Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023”.
According to the report, the global traction transformer market is expected to undergo steady growth in the forecasted period.
Some of the major drivers for this market are the congestions of roads due to huge traffic and government-initiated projects to make high-speed trains with high power.
Some of the factors restraining the market is the voltage drop or the performance degradation, which hinders the smooth functioning of the transformer system. Moreover, inadequate power supply acts as a restraining factor in the growth of traction transformer market.
The replacement of usual components with power electric technology due to new technology advancements in the market serves as an opportunity for this market. This change is called the “fourth revolution” in traction technology.
Europe is the largest market in terms of revenue. Early development of electric traction technology is the main driver contributing to the growth of this market in Europe. APAC region is the fastest growing market by revenue due to the high density population in the countries like China and India.
Some of the key market players profiled in the report include ABB (Switzerland), Alstom (France), Siemens AG (Germany), Avago Technologies Ltd (U.S.), SPX transformer (U.S.) and Schneider Electric SA (France), among others.
Source: Transparency Market Research