Traction Equipment Market By Type (Dc Traction, Ac Traction, Multi Systems), By Component (Traction Transformers, Traction Motors, Traction Converters) - Growth, Future Prospects And Competitive Analysis 2017 - 2025

The purpose of this research study titled "Traction Equipment Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025" is to provide investors, developers, company executives, and industry participants with in-depth analysis to allow them to take strategic initiatives and decisions related to the prospects in the global traction equipment market. This report presents and analyses the major trends prevalent in the global traction equipment market and provides market size and forecast.

This report categorizes the global traction equipment market in terms of system type, components, and geographical distribution. D.C. systems, A.C. systems, and multi-system traction systems are the types of traction systems considered in this study. Based on components, the global traction equipment market is categorized into traction transformers, traction motors, and traction converters. The market revenue and forecast for each mentioned segment for the period 2015–2025 are presented in the report, along with respective CAGRs for the forecast duration of 2017–2025.

Geographically, the global traction equipment market is best understood by categorizing it into five major regions and five major region-level markets, as follows:

• North America
• U.S.
• Canada
• Europe
• U.K.
• France
• Italy
• Germany
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• rest of Latin America
• Middle East and Africa
• GCC
• Rest of the Middle East and Africa

This study includes market revenue and forecasts for each considered geographical market, as well as CAGRs for the forecast period 2017-2025, as well as additional cross-sectional presentations in terms of type, component, and constituent region/country level markets.

This report also includes qualitative assessment factors such as market dynamics (drivers, restraints, and opportunities), the value chain, and Porter's five forces model to have a good understanding of the current and anticipated trends in the global traction equipment market. Competition assessment tools such as market attractiveness assessment and competitive landscape analysis by key players are also demonstrated in the study. Furthermore, this report concludes with a profile of key market players currently enjoying prominent positions in the traction equipment market. The key players profiled in this report are ABB Ltd., American Traction Systems, Alstom SA, Bombardier Inc., Crompton Greaves Limited, Caterpillar Inc., G.E. Company, Mitsubishi Electric Corporation, Kawasaki Heavy Industries Ltd., VEM Group, Siemens, Toshiba International Corporation, and TTM Rail.

Based on the type of system deployed, the global traction equipment market is studied in the following segments:

• D.C. Traction
• A.C. Traction
• Multi Systems 

Among the considered system units, multi systems are the most prominently used railway traction systems. Due to regional variations in railway electrification systems, trains often have to pass from one system to another during transit. A change of locomotives at switching stations is the most common way of achieving this. However, such switching stations have highly sophisticated components that are expensive for both installation and maintenance. Due to this, railway systems worldwide are rapidly adopting multi-system units that can operate at several voltage ranges. The adoption of multi-system locomotives is highest in Europe, where two, three, or four-system locomotives are commonly used for cross-border freight. Installation of multiple systems has enabled passing from one electrification system to another without stoppage and at lower costs.

Based on the type of components used, the global traction equipment market is segmented as follows:

• Traction Transformers
• Traction Motors
• Traction Converters

The overall trends in the traction equipment market are largely driven by evolving technologies, and the market is fragmented by nature. The degree of competition in this market is chiefly determined by offering cost-effective and high-efficiency solutions for long-term sustenance. Overall, demand for traction equipment is expected to be highest in emerging economies such as Asia Pacific, Latin America, the Middle East, and Africa, where significant investment and funding are being channeled toward upgrading transportation infrastructure. Among the considered equipment types, traction motors dominate the overall market, with a revenue share of over 75% in 2016. These items are widely used in both electric and diesel locomotives and are often customized as per the unique locomotive requirements. Furthermore, traction transformers and converters are widely used across electric units and traction substations and demand for these components is expected to rise further as railway lines around the world are upgraded and electrified.

Geographically, the global traction equipment market is cumulative for North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America.

With an approximate revenue share of 40% in 2016, Asia Pacific is the largest market for traction equipment. The Asia Pacific market is anticipated to retain its dominance through the forecast period and present lucrative expansion opportunities for solution providers. This market is majorly driven by growing government funding for upgrades and expansions of railway infrastructure in emerging economies in the region. Building transcontinental cargo ships in China to enhance trade opportunities with Europe is one such opportunistic example. Total electrification of railways in countries such as India and expansion of the light transit system in Australia will present further investment opportunities for the global players in the Asia Pacific market. On the other hand, Europe is the oldest and most mature market for traction equipment. With constant upgrades of continental transit systems and the current prevalence of multi-voltage systems in the region, the demand for multi-voltage systems is anticipated to drive the Europe traction equipment market through the forecast period.

The detailed regional classification of the traction equipment market is as follows:

• North America (U.S. and Canada)
• Europe (U.K., Spain, Italy, Germany, Russia, France, and the Rest of Europe)
• Asia Pacific (China, India, Japan, Australia, and the Rest of Asia Pacific)
• Middle East and Africa (GCC plus the rest of the Middle East and Africa)
• Latin America (Brazil, Mexico, and the Rest of Latin America)

 Frequently Asked Questions: