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Market research analysts at Technavio predict that the global traction transformers market will grow steadily during the next four years and post a CAGR of close to 6% by 2021. This market research analysis identifies the growth of high-speed rail networks in developing economies as one of the primary growth factors for this market. The major developing economies in APAC, namely China and India, are increasingly investing in high-speed rail networks. Additionally, large scale projects in the Americas on high-speed rail networks are also underway. The steady growth in high-speed rail networks across the world is expected to fuel the demand for traction transformers.
One of the latest trends that will gain traction in the traction transformers market in the coming years is the use of smart grids to power trains. Electric railways are considered as one of the fastest and the quietest means of transport. However, when the brake is applied, the energy of the moving train is lost. To recapture the energy that is lost during braking is an easy task, but to redistribute it efficiently through the power grid is rather difficult and therefore the research efforts are aimed at efficiently capturing and redistributing the energy lost during braking by using smart grids.
With the presence of several major players, the traction transformers market appears to be competitive. The market is capital-intensive in nature and thus requires high initial investments. Vendors in this segment focus on factors such as the product's cost, strict cost controls, improvements in the value chain, and increased cost awareness.
The leading vendors in the market are -
The other prominent vendors in the market include ALTRAFO, CRRC, EMCO, Hind Rectifiers, Hitachi, International BEZ Group, International Electric power, KONČAR - Electrical Industry, SETRANS HOLDING, Skoda Transportation, and Wabtec Corporation (Brush Traction).
During 2016, the tapped segment accounted for the major shares and dominated the traction transformers market. Tapped traction transformers find wide applications in electric locomotives and high-speed trains. Transport authorities around the globe have recognized the role of light-rail vehicles, monorail, and metro rail in public transport due to the growing traffic congestion in the urban areas. Factors such as the growing population pressure and road congestion will contribute to the growth of rapid-transit vehicles, which in turn, will create the demand for tapped traction transformers in the coming years.
This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the traction transformers market by 2021. Countries such as France and Germany have witnessed a rise in the number of railway infrastructure projects which has led to an increase in demand for rolling stock and related components. This in turn, lead to the demand for traction transformers. Additionally, the Gulf Cooperation Council (GCC) countries, such as Dubai and Doha, have also increased their investments in railway infrastructure projects, which will again lead to the demand for traction transformers in these regions.
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A traction transformer is an equipment which is powered by electricity and is used in the electric traction system of trains. Liberalization of the rails transport market is the major factor influencing the growth of the global traction transformers market. This upcoming report is an essential part of the unit operations industry and provides an extensive analysis of fast-growing markets like construction. Additionally, to help clients achieve a competitive edge over their competitors, Technavio also offers knowledge on various parameters including the uncertain customer preferences, market drivers, and challenges faced by the vendors in the heavy industry.
Technavio’s market research specialists conduct a triangulated approach to qualitative and quantitative research methods and carry out an in-depth analysis of multiple factors, including technological developments and the demand-supply shifts in various markets across the globe to precisely forecast the heavy industry’s growth possibilities. To assist clients develop effective tactics for growth, our upcoming market research report on the global traction transformers market for the period of 2017 to 2021 offers market insights from the statistics collected from reliable market informants such as manufacturers, suppliers, decision makers, and regulatory bodies. Technavio also offers altered reports, which will help local vendors and global players cement their position in the market.
This upcoming research report on the global traction transformers market also considers the growth of related markets such as gas engines, which is expected to grow at a CAGR of nearly 8% by 2021. The upcoming industry research report on the global traction transformers market also identifies the key drivers, trends, and the hurdles currently experienced by the heavy industry and also presents insights into the tools and components segment.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
Tags: power transformer, variable transformer, engineering tools, electric tools, heavy industry market size, unit operations market growth,
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