Traction Transformer Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2023
Albany, NY -- (SBWIRE) -- 02/22/2017 -- Traction transformer is an electrical device which is used in designing and manufacturing of railway system. It transfers the energy from one circuit to another through electromagnetic induction. It substituted the traction system run by fossil fuels years ago. It acts as an integral part of electric traction system. In terms of technology traction system is divided two major groups, DC (direct current) systems and AC (alternative current) systems
The use of traction transformer in EMUs or high speed trains has different electrical standards. The voltage lines range from 15 kV or 25 kV which is suitable for traction converters ranging 0.7 kV and 25kV. While manufacturing, quality check is performed by quality assurance departments at each stage of production. It enhances better performance in order to have reliability and energy efficiency, also ensures reduced life cycle cost and easier maintenance cost. Thus the quality check becomes essential before delivering the product into the market. Some of the organization for quality check includes IEC 60310, ISO 9001, ISO 14001 and IRIS Certification.
Some of the major drivers for this market are the congestions of roads due to huge traffic. People are switching over to airways to save time to reach the destination. Thereby, to ease the regularity of railway system, government has initiated projects to make high-speed trains with high power. Some of the factors restraining the market is the voltage drop or the performance degradation, which hinders the smooth functioning of the transformer system. Moreover, inadequate power supply acts as a restraining factor in the growth of traction transformer market.
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The replacement of usual components with power electric technology due to the new advancement by technology in the market serves as an opportunity for this market. This change is called as "fourth revolution" in traction technology
Traction Transformer market by types are tapped, tap changing and rectifier. The market for tapped is more compared to the rest of the types of traction market. These electric transformers have high efficiency of electric motors which convert the kinetic energy into regenerative braking system. This demand is growing with the increase in applications in electric locomotives, high speed trains, trams, and Electric Multiple Units (EMUs).Thus Traction transformer market acts as a catalyst in growth of railway transport system. The growth rate of high speed trains are expected to be high in the forecasted period.
The global traction transformer market is expected to undergo steady growth in the forecasted period. Some of the major players like ABB, Siemens are trying to manufacture products which is efficient and able to differentiate with their competitors. Europe is the largest market in terms of revenue early development of electric traction technology is the main driver that contributes to the growth of this market in Europe. APAC region is the fastest growing market by revenue due to the high density population in the countries like China and India.
Some of the key players in traction transformer market are ABB (Switzerland), Alstom (France), Siemens AG (Germany), Avago technologies ltd (U.S), SPX transformer (U.S) and Schneider Electric SA (France) among others.