Global Traction Transformer Market Size – By Type (Tap Changing Transformer, Rectifier Transformer, Arc Furnace Transformer, Others), By Voltage Network (Alternative Current (AC) systems and Direct Current (DC) systems), Mounting position (Under the floor, Over the roof and Machine room), Rolling stock (Electric locomotives, Metros, High-speed trains and Others), By Voltage Level (Low Voltage, Medium Voltage and High Voltage), & Region – Global Forecasts 2024 - 2034
- PUBLISHED ON
- 2024-06-27
- NO OF PAGES
- 231
- CATEGORY
- Electronics & Communication
Market Overview
The Traction Transformer market is predicted to develop at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2034, when it is projected to reach USD 2,493.53 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 1,638.47 Million in 2024.
SOURCE: We Market Research
The global
Traction Transformer market refers to the industry segment involved in the
manufacturing, distribution, and deployment of transformers specifically
designed for electric traction systems. These transformers play a critical role
in electrified railway networks by converting and distributing electrical power
from overhead lines or third rails to power electric locomotives, high-speed
trains, subway systems, trams, and other electrically propelled vehicles.
The market primarily supports railway
electrification projects aimed at replacing diesel-powered trains with
electrically powered ones to reduce environmental impact and enhance
operational efficiency.
Traction transformers
convert high-voltage AC (Alternating Current) from the grid into lower-voltage
AC suitable for powering traction motors of electric trains. They also manage
voltage levels and ensure efficient power transmission across the railway
network.
Traction
transformers are utilized across various types of rail transport systems,
including urban transit, regional railways, intercity trains, and high-speed
rail networks, each requiring transformers tailored to specific voltage levels
and performance requirements.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 1,638.47 Million |
|
Market Forecast in 2034 |
USD 2,493.53 Million |
|
CAGR % 2024-2034 |
6.5% |
|
Base Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast Period |
2024-2034 |
|
Report USP
|
Production, Consumption, company share, company
heatmap, company production capacity, growth factors and more |
|
Segments Covered |
By Type, By Voltage Network, By Voltage Level, By Mounting
Position, By Rolling Stock, and By Region |
|
Regional Scope |
North America, Europe, APAC, South America and
Middle East and Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic
Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia;
Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa;
Nigeria |
Traction Transformer Industry: Dynamics & Restrains
Market opportunity:
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Traction Transformer Segmentation
Market- By Type Analysis
By Type, the Traction Transformer market is categories into Tap Changing Transformer, Rectifier Transformer, Arc Furnace Transformer, Others. Tap Changing Transformer segments dominate the market with the largest share, accounting for over 35% of the market in 2023. Tap changing transformers are designed to adjust the voltage levels to meet varying load conditions in traction systems. They are essential for maintaining stable voltage supply to traction equipment during operation.
The
following segments are part of an in-depth analysis of the global Traction
Transformer market:
|
Market Segments |
|
|
By Type |
·
Tap Changing Transformer ·
Rectifier Transformer ·
Arc Furnace Transformer ·
Others |
|
By Voltage
network |
·
Alternative Current (AC)
systems ·
Direct Current (DC) systems |
|
By Mounting position |
·
Under the floor ·
Over the roof ·
Machine room |
|
By Rolling stock |
·
Electric locomotives ·
Metros ·
High-speed trains ·
Others |
|
By Voltage
Level |
·
Low Voltage ·
Medium Voltage ·
High Voltage |
Traction Transformer Industry: Regional Analysis
Europe Market Forecast
Europe dominates the global Traction Transformer market, accounting for around 38% of the market share in 2023. Countries like Germany, France, and the UK have extensive railway networks and ongoing electrification projects, driving demand for traction transformers. Strong government support for sustainable transportation solutions, high-speed rail projects, and stringent emissions regulations.
North America Market Statistics
North America
has a significant but smaller market share compared to Europe and Asia Pacific.
The United States and Canada are focusing on modernizing existing rail systems
and implementing electrification in urban transit projects. Government
investments in sustainable transportation solutions, urban transit expansions,
and technological advancements in railway electrification.
Asia Pacific Market Forecasts
Asia Pacific is
the fastest-growing region in the traction transformer market. Countries such
as China, India, Japan, and South Korea are investing heavily in expanding
their railway infrastructure and transitioning to electrified rail networks.
Urbanization, population growth, and initiatives to reduce reliance on fossil
fuels are key drivers of market growth in this region.
Middle East & Africa Market Statistics
MEA region is
experiencing moderate growth in the traction transformer market. Countries like
Saudi Arabia, UAE, and South Africa are investing in railway infrastructure
projects, including electrification initiatives. Economic diversification,
urbanization, and improving connectivity across regions driving demand for rail
transport solutions.
Key Market Players
The Traction Transformer Market is dominated by a few
large companies, such as
·
ABB Ltd.
·
Siemens AG
·
Alstom SA
·
Mitsubishi Electric Corporation
·
Toshiba Corporation
·
Schneider Electric SE
·
CG Power and Industrial Solutions
Ltd.
·
Hitachi, Ltd.
·
Wilson Transformer Company
· JST Transformateurs
· Other
1.
Global
Traction Transformer Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Traction Transformer
Market Scope and Market Estimation
1.2.1. Global Traction Transformer Overall
Market Size (US$ Bn) and Volume (Units), Market CAGR (%), Market forecast (2024
- 2034)
1.2.2. Global Traction Transformer
Market Revenue Share (%) and Volume Share (%) and Growth Rate (Y-o-Y) from 2019
- 2034
1.3. Market Segmentation
1.3.1. Type of Global Traction
Transformer Market
1.3.2. Voltage network of Global Traction
Transformer Market
1.3.3. Mounting position of Global Traction
Transformer Market
1.3.4. Rolling stock of Global Traction
Transformer Market
1.3.5. Voltage Level of Global Traction
Transformer Market
1.3.6. Region of Global Traction
Transformer Market
2.
Executive Summary
2.1. Demand Side Trends
2.2. Key Market Trends
2.3. Market Demand (US$ Bn) Analysis
2019 – 2023 and Forecast, 2024 – 2034
2.4. Demand and Opportunity
Assessment
2.5. Market Dynamics
2.5.1. Drivers
2.5.2. Limitations
2.5.3. Opportunities
2.5.4. Impact Analysis of Drivers and
Restraints
2.6. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.7. Cost Tear Down Analysis
2.8. Key Developments
2.9. Porter’s Five Forces Analysis
2.9.1. Bargaining Power of Suppliers
2.9.2. Bargaining Power of Buyers
2.9.3. Threat of Substitutes
2.9.4. Threat of New Entrants
2.9.5. Competitive Rivalry
2.10. PEST Analysis
2.10.1. Political Factors
2.10.2. Economic Factors
2.10.3. Social Factors
2.10.4. Technology Factors
2.11. Value Chain / Ecosystem Analysis
2.12. Key Regulation
2.13. Production Process Overview
3.
Global Traction Transformer
Market Estimates & Historical Trend
Analysis (2019 - 2023)
4.
Global Traction Transformer
Market Estimates & Forecast Trend
Analysis, by Type
4.1. Global Traction Transformer
Market Revenue (US$ Bn) and Volume (Units) Estimates and Forecasts, by Type, 2019
- 2034
4.1.1. Tap Changing Transformer
4.1.2. Rectifier Transformer
4.1.3. Arc Furnace Transformer
4.1.4. Others
5.
Global Traction Transformer
Market Estimates & Forecast Trend
Analysis, by Voltage network
5.1. Global Traction Transformer
Market Revenue (US$ Bn) and Volume (Units) Estimates and Forecasts, by Voltage
network, 2019 - 2034
5.1.1. Alternative Current (AC) systems
5.1.2. Direct Current (DC) systems
6.
Global Traction Transformer
Market Estimates & Forecast Trend
Analysis, by Mounting position
6.1. Global Traction Transformer
Market Revenue (US$ Bn) and Volume (Units) Estimates and Forecasts, by Mounting
position, 2019 - 2034
6.1.1. Under the floor
6.1.2. Over the roof
6.1.3. Machine room
7.
Global Traction Transformer
Market Estimates & Forecast Trend
Analysis, by Rolling stock
7.1. Global Traction Transformer
Market Revenue (US$ Bn) and Volume (Units) Estimates and Forecasts, by Rolling
stock, 2019 - 2034
7.1.1. Electric locomotives
7.1.2. Metros
7.1.3. High-speed trains
7.1.4. Others
8.
Global Traction Transformer
Market Estimates & Forecast Trend
Analysis, by Voltage Level
8.1. Global Traction Transformer
Market Revenue (US$ Bn) and Volume (Units) Estimates and Forecasts, by Voltage
Level, 2019 - 2034
8.1.1. Low Voltage
8.1.2. Medium Voltage
8.1.3. High Voltage
9.
Global Traction Transformer
Market Estimates & Forecast Trend
Analysis, by Region
9.1. Global Traction Transformer
Market Revenue (US$ Bn) and Volume (Units) Estimates and Forecasts, by Region, 2019
- 2034
9.1.1. North America
9.1.2. Western Europe
9.1.3. Eastern Europe
9.1.4. Asia Pacific
9.1.5. Middle East & Africa
9.1.6. Latin America
10. North America Traction
Transformer Market: Estimates &
Forecast Trend Analysis
10.1.
North
America Traction Transformer Market Assessments & Key Findings
10.1.1. North America Traction Transformer
Market Introduction
10.1.2. North America Traction
Transformer Market Size & Volume Estimates and Forecast (US$ Billion & Units)
(2019 - 2034)
10.1.2.1. By Type
10.1.2.2. By Voltage network
10.1.2.3. By Mounting
position
10.1.2.4. By Rolling stock
10.1.2.5. By Voltage Level
10.1.2.6. By Country
10.1.2.6.1. The U.S.
10.1.2.6.2. Canada
10.1.2.6.3. Mexico
11. Western Europe Traction
Transformer Market: Estimates &
Forecast Trend Analysis
11.1. Western Europe Traction
Transformer Market Assessments & Key Findings
11.1.1. Western Europe Traction
Transformer Market Introduction
11.1.2. Western Europe Traction
Transformer Market Size & Volume Estimates and Forecast (US$ Billion & Units)
(2019 - 2034)
11.1.2.1. By Type
11.1.2.2. By Voltage network
11.1.2.3. By Mounting
position
11.1.2.4. By Rolling stock
11.1.2.5. By Voltage Level
11.1.2.6. By Country
11.1.2.6.1.
Germany
11.1.2.6.2.
Italy
11.1.2.6.3.
U.K.
11.1.2.6.4.
France
11.1.2.6.5.
Spain
11.1.2.6.6.
Benelux
11.1.2.6.7.
Nordics
11.1.2.6.8. Rest
of W. Europe
12. Eastern Europe Traction
Transformer Market: Estimates &
Forecast Trend Analysis
12.1. Eastern Europe Traction
Transformer Market Assessments & Key Findings
12.1.1. Eastern Europe Traction
Transformer Market Introduction
12.1.2. Eastern Europe Traction
Transformer Market Size & Volume Estimates and Forecast (US$ Billion & Units)
(2019 - 2034)
12.1.2.1. By Type
12.1.2.2. By Voltage network
12.1.2.3. By Mounting
position
12.1.2.4. By Rolling stock
12.1.2.5. By Voltage Level
12.1.2.6. By Country
12.1.2.6.1.
Russia
12.1.2.6.2.
Hungary
12.1.2.6.3.
Poland
12.1.2.6.4.
Balkan & Baltics
12.1.2.6.5. Rest of E. Europe
13. Asia Pacific Traction
Transformer Market: Estimates & Forecast
Trend Analysis
13.1. Asia Pacific Market Assessments
& Key Findings
13.1.1. Asia Pacific Traction
Transformer Market Introduction
13.1.2. Asia Pacific Traction
Transformer Market Size & Volume Estimates and Forecast (US$ Billion & Units)
(2019 - 2034)
13.1.2.1. By Type
13.1.2.2. By Voltage network
13.1.2.3. By Mounting
position
13.1.2.4. By Rolling stock
13.1.2.5. By Voltage Level
13.1.2.6. By Country
13.1.2.6.1. China
13.1.2.6.2. Japan
13.1.2.6.3. India
13.1.2.6.4. Australia & New Zealand
13.1.2.6.5. South Korea
13.1.2.6.6. ASEAN
13.1.2.6.7. Rest of Asia Pacific
14. Middle East & Africa Traction
Transformer Market: Estimates &
Forecast Trend Analysis
14.1. Middle East & Africa Market
Assessments & Key Findings
14.1.1. Middle
East & Africa Traction
Transformer Market Introduction
14.1.2. Middle
East & Africa Traction
Transformer Market Size & Volume Estimates and Forecast (US$ Billion & Units)
(2019 - 2034)
14.1.2.1. By Type
14.1.2.2. By Voltage network
14.1.2.3. By Mounting
position
14.1.2.4. By Rolling stock
14.1.2.5. By Voltage Level
14.1.2.6. By Country
14.1.2.6.1. UAE
14.1.2.6.2. Saudi
Arabia
14.1.2.6.3. Turkey
14.1.2.6.4. South
Africa
14.1.2.6.5. Rest of
MEA
15. Latin America
Traction Transformer Market: Estimates
& Forecast Trend Analysis
15.1. Latin America Market Assessments
& Key Findings
15.1.1. Latin America Traction
Transformer Market Introduction
15.1.2. Latin America Traction
Transformer Market Size & Volume Estimates and Forecast (US$ Billion & Units)
(2019 - 2034)
15.1.2.1. By Type
15.1.2.2. By Voltage network
15.1.2.3. By Mounting
position
15.1.2.4. By Rolling stock
15.1.2.5. By Voltage Level
15.1.2.6. By Country
15.1.2.6.1. Brazil
15.1.2.6.2. Argentina
15.1.2.6.3. Colombia
15.1.2.6.4. Rest of
LATAM
16. Country Wise Market:
Introduction
17. Competition Landscape
17.1. Global Traction Transformer
Market Product Mapping
17.2. Global Traction Transformer Market
Concentration Analysis, by Leading Players / Innovators / Emerging Players /
New Entrants
17.3. Global Traction Transformer
Market Tier Structure Analysis
17.4. Global Traction Transformer
Market Concentration & Company Market Shares (%) Analysis, 2023
18. Company Profiles
18.1. ABB Ltd.
18.1.1. Company Overview & Key Stats
18.1.2. Financial Performance & KPIs
18.1.3. Product Portfolio
18.1.4. SWOT Analysis
18.1.5. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
18.2. Siemens AG
18.3. Alstom SA
18.4. Mitsubishi
Electric Corporation
18.5. Toshiba
Corporation
18.6. Schneider
Electric SE
18.7. CG Power and
Industrial Solutions Ltd.
18.8. Hitachi, Ltd.
18.9. Wilson
Transformer Company
18.10. JST
Transformateurs
18.11. Others
19. Research
Methodology
19.1. External Transportations /
Databases
19.2. Internal Proprietary Database
19.3. Primary Research
19.4. Secondary Research
19.5. Assumptions
19.6. Limitations
19.7. Report FAQs
20. Research Findings & Conclusion
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Frequently Asked Questions
What is the market size of Traction Transformer Market in 2024?
Traction Transformer Market was valued at USD 1,638.47 Million in 2024.
What is the growth rate for the Traction Transformer Market?
Traction Transformer Market size will increase at approximate CAGR of 6.5% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the market are ABB Ltd., Siemens AG, Alstom SA, Mitsubishi Electric Corporation, Toshiba Corporation, Schneider Electric SE, CG Power and Industrial Solutions Ltd., Hitachi, Ltd., Wilson Transformer Company, JST Transformateurs and others.
Which region dominates the Traction Transformer Market?
Europe dominates the market with an active share of 38%.
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