Global Traction Transformer Market Size, Share & Industry Trends Analysis Report By Mounting Position, By Voltage Network, By Rolling Stock (Electric Locomotives, Metros, High-speed Trains), By Regional Outlook and Forecast, 2022 - 2028
The Global Traction Transformer Market size is expected to reach $901.6 Million by 2028, rising at a market growth of 5.7% CAGR during the forecast period.
A traction transformer is an electrical device, which is used in the development and construction of rail systems. Using electromagnetic induction, it moves energy from one circuit to another. In current scenarios, the traction transformers are essentially a replacement for the system powered by fossil fuels. It functions as a crucial component of the electric traction system. The two main categories of traction systems in terms of technology are AC systems and DC systems.
A system that propels a vehicle and obtains driving or tractive force from different components, such as electric motors, steam engines, diesel engine drives, etc., is referred to as a traction system. In other words, a locomotive gives a train the required traction power to move. Diesel, steam, or electric energy can be used as traction power. The two types of traction systems are non-electric and electric.
As the electrification of railways is increasing, more governments throughout the world are investing in the traction substation infrastructure. The electric energy provided by the electricity system is transformed by the traction substation into a form that delivers electric traction and simultaneously, is consistent with its power distribution mode. The traction transformer is the main element of the traction substation.
Tapped, tap changing, and rectifier are the three segments for traction transformers. These electric transformers contain very efficient electric motors that use regenerative braking to convert kinetic energy. With more electric locomotives, high-speed trains, electric multiple units (EMUs), and trams being used, this demand is increasing. Thus, the market for traction transformers stimulates the development of the railway transportation system. In the coming years, high-speed train growth is expected to be significant.
COVID-19 Impact Analysis
The sudden change in revenue sources for transportation operators, many of which face an unanticipated financial shortfall, was a side effect of this transition. When the COVID-19 pandemic lockdown restrictions were released, organizations needed to make arrangements in advance to ensure the preparedness of the transportation network for a return to regular operations. This led to an increase in the R&D in the railway sector and its associated components. As a result, in the coming years, the traction transformer market will expand substantially.
Market Growth Factors
A Rise In Demand In Developing Countries For Metro Systems And High-Speed Rail
The increased rate of urbanization has increased the demand for a transportation alternative that is not only quick but also frequent and flexible during rush hour. Both high-speed rail networks for intercity travel and metro for travel inside cities are very popular modes of transportation in major metropolitan areas. There is a consensus that metro railways offer higher comfort levels, efficiency, and speed than bus services, which renders them more appealing to decision-makers and potential passengers.
Custom-Made Solutions Increasing The Presence Of Traction Transformers
The performance of trains and the services provided by operators are both impacted by traction transformers, which are crucial parts of the traction chain. Major manufacturers of traction transformer's part have increased their portfolios in the power technologies sector, which are receiving recognition for finding widespread application in AC metros, tram-trains, and high-speed, commuter, and regional trains.
Market Restraining Factors
High Price Of Electrification Of The Rail Network
There are numerous ways to improve the efficiency of freight railways, including lighter trains that require less energy to travel, improved braking, frequently with software that aids the train pilot, as well as traction power electrification. The last option enables lower energy consumption at the time of use (onboard the train), as the train does not need to transport the diesel fuel across great distances before use. Yet, merely one-third of the world's railway network is electrified.
Voltage Network Outlook
Based on voltage network, the traction transformer market is bifurcated into alternative current (AC) systems and direct current (DC) systems. The direct current systems segment procured a significant revenue share in the traction transformer market in 2021. Many benefits come with adopting a DC electrification system, including considerations for weight and space, quick braking and acceleration of DC electric motors, lower cost, and reduced energy use.
Mounting Position Outlook
On the basis of mounting position, the traction transformer market is divided into over the roof, machine room, and under the floor. The machine room segment garnered the largest revenue share in the traction transformer market in 2021. In multi-phase rail systems, equipment located in machine rooms delivers the highest level of flexibility and reliability. Over the course of the forecast period, the segment's expansion is anticipated to be supported by the rising utilization of machine room traction motor drives in high-speed trains and electric locomotives.
Rolling Stock Outlook
Based on rolling stock, the traction transformer market is categorized into electric locomotives, metros, high-speed trains, and others. The electric locomotives segment recorded the maximum revenue share in the traction transformer market in 2021. Electric locomotives are gradually replacing steam and diesel locomotives as rail infrastructure throughout the world changes. The railroad industry is moving more and more toward cutting-edge technology and faster, cleaner equipment.
Regional Outlook
On the basis of region, the traction transformer market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment witnessed the highest revenue share in the traction transformer market in 2021. With the early adoption of the majority of recent technology developments in rail traction systems, the industry in Europe is mature. This expansion can be ascribed to rising public spending and supportive laws intended to build up the region's railway infrastructure.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, JST Transformateurs, EMCO Limited, Hind Rectifiers Limited, International Electric Co, Ltd, Mitsubishi Electric Corporation, Schneider Electric SE and Wilson Transformer Company Pty Ltd.
Strategies Deployed in Traction Transformer Market
Aug-2022: Schneider Electric formed a partnership with Ikeja Electric (IE), the largest Nigerian power distribution company. Through this partnership, Schneider focused on scaling up access to electricity and made arrangements for a sustainable power industry in Nigeria. The partnership worked to enhance electricity distribution in Ikeja's network by addressing problems experienced by power distribution companies, namely the insufficiency of traceability in cases of fault occurrence, which causes outages for extended periods.
Jul-2022: Siemens partnered with Esri, a leading provider of location intelligence and geographic information systems (GIS). With this partnership, Siemens focused on increasing its abilities for the maintenance, operations, and planning of power networks, which eased the work of grid operators. In this partnership, the company integrated spatial analytics software and powerful mapping by Esri with its expertise in electrical topology.
Apr-2022: Siemens introduced CAREPOLE, a unique single-phase dry-type transformer designed for pole applications. CAREPOLE is developed to provide the American grids with the technological requirements they lack. The distribution transformer is made from cast resin and offers a sustainable and reliable substitute for oil-filled transformers.
Mar-2021: Siemens acquired C&S Electric Limited, a producer of electrical equipment. Following this acquisition, Siemens focused on catering to the increasing requirement of India for low-voltage power distribution.
Jun-2020: ABB Power Grids signed an agreement with Stena Recycling, Sweden's leading recycling company. Through this agreement, the companies aimed to develop work for recycling the latest transformers. The agreement was a prominent step that led to a circular economy thereby promoting a sustainable society.
Nov-2019: Siemens partnered with Juwi, a developer of renewable energy. Under this partnership, the companies aimed at developing microgrids, especially for the mining industry. The partnership enabled the companies to design advanced control systems for microgrids that allowed the streamlined incorporation of sustainable power into the off-grid power supply of mines.
Sep-2018: ABB unveiled RESIBLOC Rail, an innovative oil-free traction transformer. RESIBLOC Rail provides efficiency and safety's highest level in rail transport. The product signified the commitment of ABB to offering sustainable mobility solutions.
Scope of the Study
Market Segments covered in the Report:
By Mounting Position
- Machine Room
- Under the Floor
- Over the Roof
- Alternative Current (AC) Systems
- Direct Current (DC) Systems
- Electric Locomotives
- Metros
- High-speed Trains
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
- ABB Group
- Siemens AG
- JST Transformateurs
- EMCO Limited
- Hind Rectifiers Limited
- International Electric Co, Ltd
- Mitsubishi Electric Corporation
- Schneider Electric SE
- Wilson Transformer Company Pty Ltd
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Traction Transformer Market, by Mounting Position
- 1.4.2 Global Traction Transformer Market, by Voltage Network
- 1.4.3 Global Traction Transformer Market, by Rolling Stock
- 1.4.4 Global Traction Transformer Market, by Geography
- 1.5 Methodology for the research
- Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market Composition and Scenario
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
- Chapter 3. Strategies Deployed in Traction Transformer Market
- Chapter 4. Global Traction Transformer Market by Mounting Position
- 4.1 Global Machine Room Market by Region
- 4.2 Global Under the Floor Market by Region
- 4.3 Global Over the Roof Market by Region
- Chapter 5. Global Traction Transformer Market by Voltage Network
- 5.1 Global Alternative Current (AC) Systems Market by Region
- 5.2 Global Direct Current (DC) Systems Market by Region
- Chapter 6. Global Traction Transformer Market by Rolling Stock
- 6.1 Global Electric Locomotives Market by Region
- 6.2 Global Metros Market by Region
- 6.3 Global High-speed Trains Market by Region
- 6.4 Global Others Market by Region
- Chapter 7. Global Traction Transformer Market by Region
- 7.1 North America Traction Transformer Market
- 7.1.1 North America Traction Transformer Market by Mounting Position
- 7.1.1.1 North America Machine Room Market by Country
- 7.1.1.2 North America Under the Floor Market by Country
- 7.1.1.3 North America Over the Roof Market by Country
- 7.1.2 North America Traction Transformer Market by Voltage Network
- 7.1.2.1 North America Alternative Current (AC) Systems Market by Country
- 7.1.2.2 North America Direct Current (DC) Systems Market by Country
- 7.1.3 North America Traction Transformer Market by Rolling Stock
- 7.1.3.1 North America Electric Locomotives Market by Country
- 7.1.3.2 North America Metros Market by Country
- 7.1.3.3 North America High-speed Trains Market by Country
- 7.1.3.4 North America Others Market by Country
- 7.1.4 North America Traction Transformer Market by Country
- 7.1.4.1 US Traction Transformer Market
- 7.1.4.1.1 US Traction Transformer Market by Mounting Position
- 7.1.4.1.2 US Traction Transformer Market by Voltage Network
- 7.1.4.1.3 US Traction Transformer Market by Rolling Stock
- 7.1.4.2 Canada Traction Transformer Market
- 7.1.4.2.1 Canada Traction Transformer Market by Mounting Position
- 7.1.4.2.2 Canada Traction Transformer Market by Voltage Network
- 7.1.4.2.3 Canada Traction Transformer Market by Rolling Stock
- 7.1.4.3 Mexico Traction Transformer Market
- 7.1.4.3.1 Mexico Traction Transformer Market by Mounting Position
- 7.1.4.3.2 Mexico Traction Transformer Market by Voltage Network
- 7.1.4.3.3 Mexico Traction Transformer Market by Rolling Stock
- 7.1.4.4 Rest of North America Traction Transformer Market
- 7.1.4.4.1 Rest of North America Traction Transformer Market by Mounting Position
- 7.1.4.4.2 Rest of North America Traction Transformer Market by Voltage Network
- 7.1.4.4.3 Rest of North America Traction Transformer Market by Rolling Stock
- 7.2 Europe Traction Transformer Market
- 7.2.1 Europe Traction Transformer Market by Mounting Position
- 7.2.1.1 Europe Machine Room Market by Country
- 7.2.1.2 Europe Under the Floor Market by Country
- 7.2.1.3 Europe Over the Roof Market by Country
- 7.2.2 Europe Traction Transformer Market by Voltage Network
- 7.2.2.1 Europe Alternative Current (AC) Systems Market by Country
- 7.2.2.2 Europe Direct Current (DC) Systems Market by Country
- 7.2.3 Europe Traction Transformer Market by Rolling Stock
- 7.2.3.1 Europe Electric Locomotives Market by Country
- 7.2.3.2 Europe Metros Market by Country
- 7.2.3.3 Europe High-speed Trains Market by Country
- 7.2.3.4 Europe Others Market by Country
- 7.2.4 Europe Traction Transformer Market by Country
- 7.2.4.1 Germany Traction Transformer Market
- 7.2.4.1.1 Germany Traction Transformer Market by Mounting Position
- 7.2.4.1.2 Germany Traction Transformer Market by Voltage Network
- 7.2.4.1.3 Germany Traction Transformer Market by Rolling Stock
- 7.2.4.2 UK Traction Transformer Market
- 7.2.4.2.1 UK Traction Transformer Market by Mounting Position
- 7.2.4.2.2 UK Traction Transformer Market by Voltage Network
- 7.2.4.2.3 UK Traction Transformer Market by Rolling Stock
- 7.2.4.3 France Traction Transformer Market
- 7.2.4.3.1 France Traction Transformer Market by Mounting Position
- 7.2.4.3.2 France Traction Transformer Market by Voltage Network
- 7.2.4.3.3 France Traction Transformer Market by Rolling Stock
- 7.2.4.4 Russia Traction Transformer Market
- 7.2.4.4.1 Russia Traction Transformer Market by Mounting Position
- 7.2.4.4.2 Russia Traction Transformer Market by Voltage Network
- 7.2.4.4.3 Russia Traction Transformer Market by Rolling Stock
- 7.2.4.5 Spain Traction Transformer Market
- 7.2.4.5.1 Spain Traction Transformer Market by Mounting Position
- 7.2.4.5.2 Spain Traction Transformer Market by Voltage Network
- 7.2.4.5.3 Spain Traction Transformer Market by Rolling Stock
- 7.2.4.6 Italy Traction Transformer Market
- 7.2.4.6.1 Italy Traction Transformer Market by Mounting Position
- 7.2.4.6.2 Italy Traction Transformer Market by Voltage Network
- 7.2.4.6.3 Italy Traction Transformer Market by Rolling Stock
- 7.2.4.7 Rest of Europe Traction Transformer Market
- 7.2.4.7.1 Rest of Europe Traction Transformer Market by Mounting Position
- 7.2.4.7.2 Rest of Europe Traction Transformer Market by Voltage Network
- 7.2.4.7.3 Rest of Europe Traction Transformer Market by Rolling Stock
- 7.3 Asia Pacific Traction Transformer Market
- 7.3.1 Asia Pacific Traction Transformer Market by Mounting Position
- 7.3.1.1 Asia Pacific Machine Room Market by Country
- 7.3.1.2 Asia Pacific Under the Floor Market by Country
- 7.3.1.3 Asia Pacific Over the Roof Market by Country
- 7.3.2 Asia Pacific Traction Transformer Market by Voltage Network
- 7.3.2.1 Asia Pacific Alternative Current (AC) Systems Market by Country
- 7.3.2.2 Asia Pacific Direct Current (DC) Systems Market by Country
- 7.3.3 Asia Pacific Traction Transformer Market by Rolling Stock
- 7.3.3.1 Asia Pacific Electric Locomotives Market by Country
- 7.3.3.2 Asia Pacific Metros Market by Country
- 7.3.3.3 Asia Pacific High-speed Trains Market by Country
- 7.3.3.4 Asia Pacific Others Market by Country
- 7.3.4 Asia Pacific Traction Transformer Market by Country
- 7.3.4.1 China Traction Transformer Market
- 7.3.4.1.1 China Traction Transformer Market by Mounting Position
- 7.3.4.1.2 China Traction Transformer Market by Voltage Network
- 7.3.4.1.3 China Traction Transformer Market by Rolling Stock
- 7.3.4.2 Japan Traction Transformer Market
- 7.3.4.2.1 Japan Traction Transformer Market by Mounting Position
- 7.3.4.2.2 Japan Traction Transformer Market by Voltage Network
- 7.3.4.2.3 Japan Traction Transformer Market by Rolling Stock
- 7.3.4.3 India Traction Transformer Market
- 7.3.4.3.1 India Traction Transformer Market by Mounting Position
- 7.3.4.3.2 India Traction Transformer Market by Voltage Network
- 7.3.4.3.3 India Traction Transformer Market by Rolling Stock
- 7.3.4.4 South Korea Traction Transformer Market
- 7.3.4.4.1 South Korea Traction Transformer Market by Mounting Position
- 7.3.4.4.2 South Korea Traction Transformer Market by Voltage Network
- 7.3.4.4.3 South Korea Traction Transformer Market by Rolling Stock
- 7.3.4.5 Singapore Traction Transformer Market
- 7.3.4.5.1 Singapore Traction Transformer Market by Mounting Position
- 7.3.4.5.2 Singapore Traction Transformer Market by Voltage Network
- 7.3.4.5.3 Singapore Traction Transformer Market by Rolling Stock
- 7.3.4.6 Malaysia Traction Transformer Market
- 7.3.4.6.1 Malaysia Traction Transformer Market by Mounting Position
- 7.3.4.6.2 Malaysia Traction Transformer Market by Voltage Network
- 7.3.4.6.3 Malaysia Traction Transformer Market by Rolling Stock
- 7.3.4.7 Rest of Asia Pacific Traction Transformer Market
- 7.3.4.7.1 Rest of Asia Pacific Traction Transformer Market by Mounting Position
- 7.3.4.7.2 Rest of Asia Pacific Traction Transformer Market by Voltage Network
- 7.3.4.7.3 Rest of Asia Pacific Traction Transformer Market by Rolling Stock
- 7.4 LAMEA Traction Transformer Market
- 7.4.1 LAMEA Traction Transformer Market by Mounting Position
- 7.4.1.1 LAMEA Machine Room Market by Country
- 7.4.1.2 LAMEA Under the Floor Market by Country
- 7.4.1.3 LAMEA Over the Roof Market by Country
- 7.4.2 LAMEA Traction Transformer Market by Voltage Network
- 7.4.2.1 LAMEA Alternative Current (AC) Systems Market by Country
- 7.4.2.2 LAMEA Direct Current (DC) Systems Market by Country
- 7.4.3 LAMEA Traction Transformer Market by Rolling Stock
- 7.4.3.1 LAMEA Electric Locomotives Market by Country
- 7.4.3.2 LAMEA Metros Market by Country
- 7.4.3.3 LAMEA High-speed Trains Market by Country
- 7.4.3.4 LAMEA Others Market by Country
- 7.4.4 LAMEA Traction Transformer Market by Country
- 7.4.4.1 Brazil Traction Transformer Market
- 7.4.4.1.1 Brazil Traction Transformer Market by Mounting Position
- 7.4.4.1.2 Brazil Traction Transformer Market by Voltage Network
- 7.4.4.1.3 Brazil Traction Transformer Market by Rolling Stock
- 7.4.4.2 Argentina Traction Transformer Market
- 7.4.4.2.1 Argentina Traction Transformer Market by Mounting Position
- 7.4.4.2.2 Argentina Traction Transformer Market by Voltage Network
- 7.4.4.2.3 Argentina Traction Transformer Market by Rolling Stock
- 7.4.4.3 UAE Traction Transformer Market
- 7.4.4.3.1 UAE Traction Transformer Market by Mounting Position
- 7.4.4.3.2 UAE Traction Transformer Market by Voltage Network
- 7.4.4.3.3 UAE Traction Transformer Market by Rolling Stock
- 7.4.4.4 Saudi Arabia Traction Transformer Market
- 7.4.4.4.1 Saudi Arabia Traction Transformer Market by Mounting Position
- 7.4.4.4.2 Saudi Arabia Traction Transformer Market by Voltage Network
- 7.4.4.4.3 Saudi Arabia Traction Transformer Market by Rolling Stock
- 7.4.4.5 South Africa Traction Transformer Market
- 7.4.4.5.1 South Africa Traction Transformer Market by Mounting Position
- 7.4.4.5.2 South Africa Traction Transformer Market by Voltage Network
- 7.4.4.5.3 South Africa Traction Transformer Market by Rolling Stock
- 7.4.4.6 Nigeria Traction Transformer Market
- 7.4.4.6.1 Nigeria Traction Transformer Market by Mounting Position
- 7.4.4.6.2 Nigeria Traction Transformer Market by Voltage Network
- 7.4.4.6.3 Nigeria Traction Transformer Market by Rolling Stock
- 7.4.4.7 Rest of LAMEA Traction Transformer Market
- 7.4.4.7.1 Rest of LAMEA Traction Transformer Market by Mounting Position
- 7.4.4.7.2 Rest of LAMEA Traction Transformer Market by Voltage Network
- 7.4.4.7.3 Rest of LAMEA Traction Transformer Market by Rolling Stock
- Chapter 8. Company Profiles
- 8.1 ABB Group
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Research & Development Expense
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Partnerships, Collaborations, and Agreements:
- 8.1.5.2 Product Launches and Product Expansions:
- 8.2 Siemens AG
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.4 Research & Development Expense
- 8.2.5 Recent strategies and developments:
- 8.2.5.1 Partnerships, Collaborations, and Agreements:
- 8.2.5.2 Product Launches and Product Expansions:
- 8.2.5.3 Acquisition and Mergers:
- 8.2.6 SWOT Analysis
- 8.3 Schneider Electric SE
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expense
- 8.3.5 Recent strategies and developments:
- 8.3.5.1 Partnerships, Collaborations, and Agreements:
- 8.3.6 SWOT Analysis
- 8.4 Mitsubishi Electric Corporation
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Research & Development Expense
- 8.5 Hind Rectifiers Limited
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Research & Development Expenses
- 8.6 JST Transformateurs
- 8.6.1 Company Overview
- 8.7 EMCO Limited
- 8.7.1 Company Overview
- 8.8 International Electric Co., Ltd.
- 8.8.1 Company Overview
- 8.9 Wilson Transformer Company Pty Ltd
- 8.9.1 Company Overview
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