North America Traction Transformer Market Worth $233.1 Million by 2019

Thursday 17 November 2016, Amsterdam

The Report, now available on ASDReports,  “North America Traction Transformer by Type (Tap Changing, Tapped, Rectifier), by Application (High Speed Train, Electric Locomotive, Electrical Multiple Unit, Tram), by Voltage Range (AC, DC), by Geography - Analysis & Forecast to 2019” is estimated to reach $233.1 million by 2019, growing at a CAGR of 9.4% from 2014 to 2019.

Traction transformer forms an integral part of the electric traction, which is a propulsion system mainly used in rail transport. Recent advancements made in traction transformer technology have resulted in the increasing adoption of these devices among varied end-user applications. The North America traction transformer market is segmented on the basis of type, voltage range, application, and geography. According to application, this market is classified into high-speed trains, electric locomotives, electric multiple units (EMUs), and trams. The traction transformer market for high speed train is projected to grow at a CAGR of 10.1% during the forecast period.

Electric traction using traction transformers has many critical advantages over the conventional diesel-based traction systems. Electric traction systems offer numerous benefits, such as power reliability, energy efficiency, long trouble-free service life, and low environmental impact. Among all sectors, the railway industry has become the highest fuel consuming segment in the market. In order to reduce the dependence on oil/diesel consumption, the concept of electrification of railways is slowly gaining popularity. Thus, electrification of rail network has become one of the most significant driving factors influencing the growth of the North America traction transformer market.

In North America, the congestion of roadways and airways is becoming a matter of major concern. In order to resolve this issue, the governmental bodies of this region are shifting their focus towards high-speed trains and tramways as a preferred medium of transportation to ease this pressure. This has become yet another driving factor propelling the growth of the traction transformer market in North America.

This market research report offers a comprehensive overview of market share and value chain analysis, along with in-depth insights on varied market metrics, such as drivers, restraints, and upcoming opportunities. Additionally, the report also lays emphasis on competitive landscape and company profiles of key players thriving in this market.