Traction Transformer Market was valued at USD 652.45 Million in 2021, and it is expected to reach USD 912.28 Million by 2029, exhibiting a CAGR of 4.28 % during the forecast period (2022-2029)
Traction Transformer Market Overview:
The Traction Transformer market study gives a complete view of the competition, including the market share and company profiles of the worldwide industry's leading competitors. The scope of the research includes a full assessment of the Traction Transformer Market, as well as the reasons for variations in the industry's growth across a number of sectors.
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
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Traction transformers are mostly used in the railway industry to power electric locomotives. To power the traction motors of the engine and other auxiliaries, traction transformers adapt the electric power supplied by the utility provider. High voltage AC is converted to low voltage DC by the traction transformer, which is then used to power rectification and the DC traction motors. The growth of intercity rail infrastructure and the modernization of rolling stock electrical systems are the primary factors driving the expected steady growth of the global market for traction transformers during the forecast period.
The research methodology used to forecast and estimate the global traction transformer market begins with finding data on major players' revenues through secondary research for example Railway Industry Association (FIF), National Association of Railway Transport (ANTF) (U.S.), International Union of Public Transport (UITP), Association of the European Railway Industry (UNIFE), International Union of Railways (UIC), Community of European Railway & Infrastructure Companies (CER), Railway Industry Association (RIA), and prominent players' annual reports and whitepapers. The vendor helps have also been taken into consideration to decide the traction transformer market segmentation.
Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers' annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
The biggest players in the Traction Transformer market are as follows:
• Hind Rectifiers Limited( India)
• International Electric Co., Ltd.(South Korea)
• Setrans Holding as(France)
• JST Transformateurs(France)
• Schneider Electric SA( France)
• Alstom SA(France)
• Wilson Transformer Company(Australia)
• Mitsubishi Electric Corporation(Japan)
• CRRC( China)
• Sunten Electric(China)
• Brush Traction(UK)
• Altrafo Trasformatori( Italy)
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Traction Transformer market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Traction Transformer Market:
End-user industries where Traction Transformer are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Traction Transformer manufacturers, affecting the Traction Transformer market's growth in 2020. End-user business demand for Traction Transformer has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
Key Questions Answered in the Traction Transformer Market Report are:
In 2021, which segment accounted for the most share of the Traction Transformer market?
What is the competitive landscape of the Traction Transformer market?
What are the key factors influencing Traction Transformer market growth?
In the Traction Transformer market, which region has the most market share?
What will be the CAGR of the Traction Transformer market during the forecast period (2022-2027)?