Rolling Stock Traction Transformer Market Size, Share, Growth, and Industry Analysis, Segmentation By Type (Core Type Traction Transformer and Shell Type Traction Transformer), By Application (Electric Locomotives, High Speed Trains, Electric Multiple Units (Emus), Trams and Others), Regional Insights and Forecast To 2032

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ROLLING STOCK TRACTION TRANSFORMER MARKET OVERVIEW

Global rolling stock traction transformer market size is predicted to reach USD 3.2 billion by 2032 from USD 2 billion in 2023, registering a CAGR of 5.3% during the forecast period.

A vital part of electrifying railroad networks is a rolling stock traction transformer. It is essential in providing the proper voltage and frequency to run the traction motors of electric trains when converting electrical power from the grid or an overhead catenary system. A traction transformer's main job is to reduce the high voltage from the power supply—which is usually between 15 and 25 kV—to the voltage that the traction motors need, which is usually between 600 and 3 kV. To satisfy the unique needs of the train's propulsion system, this change is required.

COVID-19 IMPACT

COVID-19 Adverse Effected in Project Delays and the Financial Challenges Havocked the Market Growth 

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The economic aftermath of the epidemic, lockdowns, travel restrictions, and budgetary constraints may have resulted in delays or postponements of several rail electrification projects. This might thus have an impact on the need for rolling stock traction transformers. The pandemic may have caused budget cuts for manufacturers, suppliers, and railway operators, which would have impacted investments in electrification projects and new train equipment.

LATEST TRENDS

High Speed Rail and Urban Transit Projects with Advanced Technologies to Tumble Up the Market Shares

Urban transportation systems and high-speed rail are in constant demand. In these projects, traction transformers are essential, and manufacturers can concentrate on creating transformers that satisfy the particular needs of urban and high-speed rail applications. The incorporation of cutting-edge technology into traction transformers is a continuing trend. This covers advancements in cooling systems, digital monitoring for preventive maintenance, and insulating materials. The significance of remote monitoring and diagnostics in guaranteeing the dependability and functionality of rolling stock traction transformers is growing.

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ROLLING STOCK TRACTION TRANSFORMER MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into core type traction transformer and shell type traction transformer.

• Core Type Traction Transformer: The main and secondary windings of a core-type transformer encircle the magnetic core, which is made of laminated iron or steel. Usually, the windings are coiled around the core's limbs, or legs. Due to its small size and good magnetic coupling between the windings, it is often more affordable at power ratings below those of other options.

• Shell Type Traction Transformer: The windings of a shell-type transformer are encircled by the magnetic core. The magnetic core is positioned inside the windings, and the windings are encased in the core like a shell. Typically, the windings have a concentric or cylindrical structure. It gives windings more mechanical support and improved short-circuit strength. Because of the winding configuration, it is more easily cooled and adjustable for larger power ratings.

By Application

Based on application the global market can be categorized into Electric Locomotives, High Speed Trains, Electric Multiple Units (Emus), Trams and others.

• Electric Railways: Rolling Stock Drive An essential part of electric locomotives are transformers. They are in charge of transforming third rail or overhead catenary high-voltage AC electricity into the appropriate voltage and frequency needed by the traction motors. This makes it possible for the locomotive to provide the power required for motion.

• High-Speed Trains: Robust and potent traction systems are necessary for high-speed trains, which run at considerably faster speeds than conventional trains. In order to reduce the high-voltage electricity coming from the electrified infrastructure to the levels needed by the traction motors of the high-speed train, rolling stock traction transformers are essential. They enhance the high-speed train services' overall effectiveness, dependability, and performance.

• Electric Multiple Units (EMUs): EMUs are made up of several vehicles, each having a separate traction system. Each vehicle has Rolling Stock Traction Transformers that convert the incoming high-voltage AC electricity to the right levels for the traction motors. In suburban and regional train services, EMUs are frequently utilized to provide effective and adaptable transportation.

• Trams: Often referred to as streetcars or trolleys, trams are powered by either a track-based power source or overhead wires. The similar process is carried out by rolling stock traction transformers in trams, which transform incoming high-voltage AC power into the amounts needed for the tram's traction motors. For efficiency and environmental concerns, electrification of trams is a preferred option for urban transportation.

DRIVING FACTORS

Rail Electrification Initiatives and High-Speed Rail Development to Electrify the Market Growth

Initiatives to electrify trains have surged as a result of the worldwide movement toward environmentally friendly and sustainable modes of transportation. Traction transformer demand is rising dramatically as more nations and areas electrify their train networks. The need for sophisticated, high-performing traction transformers is being driven by the expansion of high-speed rail networks around the world. Effective and dependable traction systems are necessary for high-speed trains, and traction transformers are essential for providing the necessary electricity.

Increasing Rail Connectivity with Government Support to Accelerate the Market Sales

Rail networks may become electrified as a result of increased rail connectivity, particularly in areas that prioritize strengthening commerce and transportation connections. Rolling stock traction transformers are in more demand as a result of this enhanced connection. Rolling stock traction transformer demand may be greatly impacted by government efforts, subsidies, and regulatory support for train electrification projects. Infrastructure investments for electrified rail systems can be stimulated by policies that support the transition to electric vehicles.

RESTRAINING FACTOR

Cost and Maintenance Challenges to Deprive the Market Growth

High-quality traction transformer installation and production can be costly. The total cost of rail electrification projects may be significantly impacted by the initial cost of these components. The decision to deploy electric traction systems may be influenced by cost factors. Traction transformers need routine maintenance to guarantee optimum performance and dependability, just like any other electromechanical component. Increased operating expenses and service interruptions may result from faults or failures. The use of predictive maintenance techniques is crucial to reducing downtime.Hence, such factors are expected to hinder the rolling stock traction transformer market growth during the forecast period.

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ROLLING STOCK TRACTION TRANSFORMER MARKET REGIONAL INSIGHTS

The market is primarily segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

Europe to Dominate the Market due to Having Well-Established Rail Network with Extensive Electrification Growth

A number of parameters, including the degree of railway electrification, rail infrastructure investment, manufacturing capabilities, and demand for electric trains, are taken into account when determining the dominating region for Rolling Stock Traction Transformers market share. Europe boasts a highly developed rail system that is heavily electrified, especially in nations like Germany, France, Italy, and Spain. The need for traction transformers has increased as a result of the European Union's commitment to high-speed rail and sustainable transportation, which have led to major investment in rail electrification projects.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market through Innovation and Market Expansion

Important industry players have a big impact on the market and are crucial in determining customer preferences and market dynamics. These major firms provide consumers easy access to a vast array of clothing alternatives through their huge retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also enhanced consumer trust and loyalty. These industry titans also consistently fund R&D, bringing cutting-edge designs, materials, and clever features to rolling stock traction transformer to meet changing customer demands and preferences. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.

List of Top Rolling Stock Traction Transformer Companies

• ABB (Switzerland)
• Alstom (France)
• SIEMENS (Germany)
• MITSUBISHI ELECTRIC (Japan)
• SETRANS HOLDING (France)
• JST-transformers (U.S.)
• Emco (U.S.)
• CNR (Italy)
• Keda Electric Machinery (China).

INDUSTRIAL DEVELOPMENT

October 2021: ABB declared its participation in building the world's first ever permanent electric road, which will power both private and commercial vehicles, including buses and trucks.

December 2022: After investing $150 million, ABB inaugurated a new robotics plant spanning 67,000 square meters in Shanghai.

REPORT COVERAGE 

The report includes a thorough SWOT analysis and offers predictions for market growth in the future. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.