The market is expected to grow at a CAGR of between 4.5% and 5.5% from 2021 to 2031, according to insights provided by the analysis of the Traction Transformer Market.
The market experienced significant growth during the assessment period as a result of factors like rising transportation demand, significant investments in infrastructure and basic transportation, abundant development in numerous large-scale industries, as well as expansion, which is the main growth factor.
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What Promotes the Demand for Traction Transformer Market
The demand for time-efficient transportation networks and expanding rail infrastructure both have an impact on the market for traction transformers.
Government support, the start of high-speed train projects, and other initiatives help the railway system expand while meeting market demand to the fullest.
The demand for traction systems has grown as railroad use, particularly in developing economies, has increased.
The demand led to the development of metro railways and high-speed trains throughout time, as well as the electrification of the current conventional rails. the majority of the demand coming from developing nations.
Rail Transportation Industry to spur the demand of Traction Transformer
The COVID-19 has an effect on all nations, the railroad sector, and the market for traction systems. The market for traction systems has been impacted by the ongoing lockdown. The worldwide pandemic posed problems, and the authorities shut down all medium-speed railways as well.
Innovative planning and execution methods are being used by businesses and the government, along with many other elements, to carry out current commercial activities. In order to meet industrial demand, the aftermarket and maintenance costs are higher in the railway sector.
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North America Market Demand Potential
Because of the high cost of electrifying the rail network and the predominance of diesel-powered rail engines, North America is thought to be another place where traction transformers are growing noticeably.
Public infrastructure projects, which are being carried out quickly, are a key driver in North America’s growth.
Key Segments
By Rolling Stock:
- Electric Locomotives
- Freight Locomotives
- Passenger Locomotives
- High-Speed Trains
- Metros
- Tram Trains
By Mounting Position:
- Underframe
- Machine Room
- Roof
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By Overhead Line Voltage:
- AC
- 1.2KV
- 15KV
- 20KV
- 25KV
- DC
- 0.75KV
- 1.5KV
- 3KV
By Region:
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- Italy
- France
- The U.K.
- Spain
- NORDICS
- BENELUX
- Russia
- Rest of Europe
- East Asia
- China
- Japan
- South Korea
- South Asia Pacific
- India
- ASEAN
- ANZ (Australia and New Zealand)
- Rest of South Asia Pacific
- The Middle East and Africa
- GCC Countries
- Turkey
- North Africa
- South Africa
- Rest of the Middle East and Africa
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