Albany, NY -- (SBWire) -- 11/09/2017 --Demand for traction equipment is increasing globally. The major factor driving this growth is increasing demand for efficient railway transportation. Due to the rapid increase in freight and passenger traffic, countries around the world are trying to develop and modernize their railway networks. Rising populations and growing economies have created demand for mass transportation. Many countries, such as China and Spain, are rapidly developing their high-speed rail networks. While countries such as India and the U.S. focus on increasing the electrified lines in their network, others, such as Brazil, Germany, and the U.K., are focusing on modernizing their aging fleets. Traction systems are used to pull or draw vehicles (i.e., they act as propulsion systems for trains). Hence with the increasing presence of locomotive and electrified rail lines, the traction equipment market will also expand during the forecast period. Asia Pacific occupied the largest share of the traction equipment market in 2015, closely followed by Europe.

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This report by Transparency Market Research analyzes, estimates, and forecasts demand for traction equipment on the global and regional level for an eight-year period from 2016 to 2024 in terms of volume and cumulative revenue. The study also provides information on restraints, drivers, and opportunities along with their impact on the overall market during the forecast period. The report segments the market on the basis of equipment type and region and provides estimates and forecast of the traction equipment market for each segment.

The study analyzes the product value chain, from raw material suppliers to end-users. Additionally, it contains an evaluation of the market along the Porter's Five Forces model, which analyzes the degree of competition in the market by considering factors such as the bargaining power of buyers and suppliers, threats from substitute products and new entrants. The report also includes a market attractiveness analysis for the traction equipment market on the basis of regions. The report includes a detailed competitive landscape of the traction equipment market including company market share analysis and the profiles of key market participants.

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The report provides a comprehensive view of the traction equipment market by segmenting the market along the lines of equipment type and geography. The equipment type segment comprises the traction transformer, traction motor, and traction converter sub-segments. The traction system is the primary driving force of locomotives. In railway systems, it is supplemented by equipment such as controllers, rectifiers, blowers, compressors, and other auxiliary systems. Traction motors are widely used in all types of locomotives. Transformers and converters are also used in the electrification of railway lines. The requirement of traction motors, traction transformers, and traction convertors differs depending upon the type of locomotive, electrification system, and terrain suitability.

The traction equipment market has been segmented on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World. The Rest of the World segment includes Latin America, the Middle East, and Africa. Demand for each type of traction equipment in terms of volume and cumulative revenue for each of these regions has been forecast in the report for the period from 2016 to 2024. The report also contains detailed analysis of some major countries in the traction equipment market, such as the U.S., China, India, Brazil, Germany, Spain, and Russia.

Leading manufacturers profiled in the report include ABB Ltd., Alstom SA, American Traction Systems, Bombardier Inc., Caterpillar Inc., Crompton Greaves Limited, Siemens AG, General Electric Company, Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, VEM Group, Toshiba International Corporation, and TTM Rail - Transtech Melbourne Pty Ltd. These companies have been profiled in detail with features such as company overview, financial overview, business strategies, employee strength, and recent developments.

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