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(IT-NEWSWIRE.COM, September 09, 2019 ) Market Overview
• Traction Transformers are large single-phase transformers fitted in locomotives to feed power to traction motors and other auxiliaries. It is an integral part of an electric traction system in the vehicle and helps in the smooth movement of motors used in locomotives, high-speed trains, and trams.
Market Dynamics
• High urbanization rates, demand for high speed commuting, favorable government initiatives in providing better public transportation facilities and the need for the conservation of fossil fuels are the major factors driving the traction transformer market.
• Growing urbanization rates is a major factor boosting the growth of the railways industry. According to the statistics published by the World Bank, the global urbanization rate increased steadily from 54.38% in 2016 to 54.83% in 2017 finally reaching 55.28% by 2018. Thus, the rising number of rail projects is translating the increased adoption and implementation of traction transformers on a large scale. The growing urbanization rates have led to the development of smart cities across the world and this is a major attributing factor for the growth of the high-speed commuting networks in cities. Owing to these factors, the global traction transformer market is anticipated to grow at a healthy pace in the future.
• Initiatives taken by many manufacturers in substituting conventional technology with power train technology is expected to create huge market opportunities for manufacturers and suppliers operating in the traction transformer market.
Market Segmentation
• Based on the rolling stock, the market is segmented as trams, high speed locomotives, metros, electric multiple units.
• High speed locomotives is the dominant segment of the global traction transformer market owing to the rapid evolution of the global railway sector. According to the international energy agency, three-quarters of passenger rail transport activity takes place on electric trains, which is an increase from 60% in 2000 - the rail sector is the only mode of transport that is widely electrified today. Around 600 billion passenger-kilometres are travelled by high-speed rail every year compared with 3 100 billion by conventional rail. With more than sevenfold growth since 2000, high-speed rail has been the main area of infrastructure growth in the global rail network, reaching close to 68 000 track-kilometres in 2017.
• Two-out-of-three high-speed rail tracks are in China, which starting from virtually zero only a decade ago has built over 41 000 kilometres of high-speed rail tracks. The speed and size of this achievement place it among the largest infrastructure projects of recent years which is expected to augment the growth of the market in the forecast period.
Geographical Analysis
• The Global Traction Transformer Market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa.
• The European region is further dominated into countries such as the UK, Germany, Italy, Spain, France and Rest of Europe. The European region is the dominant region of the global traction transformer market owing to the highly developed railway infrastructure facilities and rapid adoption of electrification of railway networks in this region. According to the statistics published by the European Union Statistics Division, passenger transport by rail in the EU continued its growth in 2017 for the fifth successive year. In 2017, rail passengers transport in the EU was estimated at 465 billion passenger-kilometers, up 3 % from 2016. A steady growth was observed between 2013 and 2017, with a growth in each quarter of these five years compared with the same quarter of the previous year. All in all, fifteen of the EU-28 Member states reported increases in passenger transport (in number of passengers) between 2016 and 2017. The largest increases were recorded in Romania, Slovakia and Luxembourg. Major companies in this market such as ABB, Schenider Electric, Siemens operate from the European Union as their main base.
• Companies are incorporating competitive strategies such as new product launches and technological advancements to contribute improve the overall market share and to remain competitive in the market. For instance, in May 2019, Stäubli Electrical Connectors has upgraded its MPC range of rail industry modular power connectors as part of its process of continuous improvement. With ratings of 3600 V and up to 700 A, the units can be used for connecting transformers, traction motors, inverters and batteries as well as power links between carriages which is expected to provide a boost to the European traction transformer market in the future.
Competitive Analysis
• New product launches, expansion of facilities, mergers and acquisitions and strategic partnerships are vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.
• In December 2017, Mitsubishi Electric Corporation announced today that it will be the first Japanese company to supply the French National Railways (SNCF) with prototype traction transformers for the Z2N commuter train operating in Paris and its suburbs and T4 tram trains also operating in the Parisian suburbs.
• In November 2017, Swiss engineering group ABB said on Tuesday that it will expand its traction transformer business in India to drive competitiveness. ABB has announced a strategic realignment of its global transformer manufacturing, engineering and service footprint to enhance competitiveness in a dynamic market environment marked by increasing competition and consolidation in the rail industry.
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