Pune, 20, April 2023: As per Maximize Market Research, a global business research and consultancy firm, the total global market for “Traction Transformer Market” was USD 652.45 Mn in 2021 and is expected to grow at a CAGR of 4.28 percent over the forecast period to reach USD 912.28 Mn by 2029
Traction Transformer Market Report Scope and Research Methodology
The Traction Transformer Market report is a combination of primary and secondary data. The primary research method includes e-mail interactions, telephonic and face-to-face interviews while secondary data was collected from various sources such as annual or financial reports, government documents, company websites, industry white papers and investor presentations with paid and free databases, which helped to get the immense knowledge of the Traction Transformer market. Primary data was conducted from Traction Transformer industry experts and experts in order to validate the data and analysis of the market. PESTLE analysis used for the report helps to understand the impact of the political, economic, social and technological factors on the Traction Transformer market. The bottom-up approach was used to estimate the global and regional Traction Transformer market size. In-depth information on drivers, restraints, challenges and opportunities has been provided in the report with the SWOT analysis to provide strengths and weaknesses of the Traction Transformer key players in the industry.
Traction Transformer Market Dynamics
During the forecast period, the market is expected to be driven by the increasing adoption of rail traction systems in both traditional and next-generation locomotives such as electric locomotives, tram-trains and high-speed trains in order to cater to the increasing number of passengers and travel routes. The modernization of rolling stock electrical systems is the primary factor driving the growth of the Traction Transformer Market. The electrification of rail networks is creating various lucrative opportunities for the growth of the market.
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Traction Transformer Market Regional Insights
The APAC region held the largest Traction Transformer Market share of 28 percent in 2021 and is expected to grow at a high CAGR of 6.12 percent during the forecast period. The regional market is growing due to the increasing technological advancements and the presence of key players in the region.
During the forecast period, the Traction Transformer Market in North America is expected to grow significantly. The regional market is growing due to the rapidly developing infrastructure.
Traction Transformer Market Segmentation
By Rolling Stock
By Mounting Position
By Overhead Line Voltage
Traction Transformer Market Key Competitors include:
Table of Content for Traction Transformer Market
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Key questions answered in the Traction Transformer Market are:
Key Offerings:
Maximize Market Research is leading Energy & Power research firm, has also published the following reports:
Traction Battery Market – The market size is expected to reach USD 64.22 billion by 2029 at a CAGR of 8.2 percent during the forecast period. The market is growing due to the large-scale deployment of traction batteries in hybrid and electric vehicles.
Electric Vehicle Traction Motor Market – The market size is expected to reach USD 51.72 billion by 2029 at a CAGR of 35.32 percent during the forecast period. The market is expected to be driven by increasing investments in electric vehicles (EVs).
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