Traction Equipment Market By Type (Traction Transformers, Traction Converters, Traction Motors and Generators, others), By Application (Railways, Marine, Industrial Equipments, Electrical Vehicles, Others): Global Opportunity Analysis and Industry Forecas

Traction Equipment Market By Type (Traction Transformers, Traction Converters, Traction Motors and Generators, others), By Application (Railways, Marine, Industrial Equipments, Electrical Vehicles, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The global traction equipment market was valued at $300.1 million in 2021, and is projected to reach $390.7 million by 2031, growing at a CAGR of 2.8% from 2022 to 2031.

Traction may be defined as the force derived from the interaction between a device and a medium that can be used to facilitate a desired motion over the medium. The traction device converts rotary motion derived from an engine into useful linear motion. In addition, according to American society of agricultural and biological engineers, the devices such as winch sprags are exceptions to the traction equipment, but they are traction devices since they provide traction by interacting with a medium-usually soil. The traction in transport system is used to operate in off-road conditions and are used in the wheels and tracks-that is, parts of vehicles rather than complete vehicles such as tractors. In addition, nowadays traction system is the main features of SUV and MUV cars. The number of off -the-road vehicles is rapidly increasing for agriculture, military, construction and for domestic purposes. The total engine power available for conversion into useful pull is generally in excess of the traction capacity that can be developed between the traction device and the soil. Moreover, the limitations of the vehicle in respect to off-the road movement are usually the limitations of the traction device. Furthermore, the efficiency with which a traction device converts energy into pull is usually extremely poor when the device is operating on soil. Moreover, according to National Tillage Machinery Laboratory, the pneumatic tire operating on a concrete surface has an average power efficiency of approximately 75%. The same tire operating on various soils has an average efficiency of less than 50 percent. Furthermore, according to Nebraska Tractor Test Laboratory, the pneumatic tired tractors operating on concrete lose approximately 5 percent more in thermal efficiency when the useful work output is expended through the drawbar than when it is expended through the power takeoff. However, the loss in thermal efficiency on soil will be even greater. With the use of traction equipment, there is minimum loss in thermal efficiency.

Traction equipment market are highly used in electrical, automotive, railway railways, aerospace and defense. In addition, rise in demand for automobiles across the globe and rapid expansion of traction technology in vehicles led to introduce the traction features in automobiles, which lead to increase in demand for traction equipment, which act as the major driving factor for the market. Moreover, rising defense investments by developed and developing nations also act as major opportunity factor for the market.

The global traction equipment market is segmented on the basis of type, application, and region. Depending on type, the market is categorized into traction transformers, traction converters, traction motors & generators and others (inverters and cable protection (PMA)). On the basis of application, it is divided into railway, marine, industrial equipment, electrical vehicles and others (aerospace and military). Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.

The global traction equipment market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include ABB, Alsrom 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 Railway- Transtech Melbourne Pty Ltd.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the traction equipment market analysis from 2021 to 2031 to identify the prevailing traction equipment market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the traction equipment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global traction equipment market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Traction Transformers
Traction Converters
Traction Motors and Generators
others

By Application

Railways
Marine
Industrial Equipments
Electrical Vehicles
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Arabia
South Africa
Rest of LAMEA

Key Market Players

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
TTM Rail – Transtech Melbourne Pty Ltd.
Medha Servo Drives Private Limited

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