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Traction Transformer Market

Increasing Investments in Rail Infrastructure are likely to augment the Installation of Traction Transformers in Locomotives

An Analysis of the Traction Transformer Market by Installation in Electric Locomotives, High-speed Trains and Metros - Forecast from 2023 to 2033

Traction Transformer Market Outlook (2023 to 2033)

The global traction transformer market will is likely to reach a valuation of US$ 724.2 million by 2023. By 2033, Persistence Market Research forecasts that sales of traction transformers are anticipated to total US$ 1.4 billion while registering a CAGR of 6.7% from 2023 to 2033.

Compared to diesel-powered trains, electric railways run on traction transformers that are extremely environmentally friendly. As a result, they produce no direct emissions and can help reduce the amount of air pollution and greenhouse gas emissions. Cleaner and more sustainable transportation systems are made possible by traction transformers.

The railway network can be supplied with electricity from traction transformers that harness renewable energy sources, such as solar and wind power. Supporting renewable energy infrastructure development reduces dependence on fossil fuels, promotes energy diversification, and reduces the use of fossil fuels. Various railway systems require traction transformers able to handle a wide range of voltages and power levels. Depending on the type of train and conditions of operation, they can be customized.

Electric locomotives are not the only thing on the rise. Old-school diesel locomotives are also being retrofitted with electric engines. By converting the locomotive body, energy efficiency and emissions can be enhanced while the locomotive body can be reused. For locomotive retrofit projects, traction transformers are installed to provide power to the electric traction system.

Report Attributes Details

Traction Transformer Market Size (2023)

US$ 724.2 million

Traction Transformer Projected Market Value (2033)

US$ 1.4 billion

Asia Pacific Market Growth Rate (2023 to 2033)

50.3%

United Kingdom Growth Rate (2023 to 2033)

5.1% CAGR

Japan Market Growth Rate (2023 to 2033)

6.9% CAGR

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2018 to 2022 Traction Transformer Sales Analysis Compared to Demand Forecast from 2023 to 2033

PMR projects that the global traction transformer market is expected to expand at a CAGR of 6.7% between 2023 and 2033. During 2018 to 2022 historical period, a CAGR of 4.6% was registered with respect to traction transformer demand.

In response to global efforts to reduce carbon emissions, electric transportation, including railways, has gained a lot of attention. There are generally fewer emissions produced by electric trains than by diesel trains, which makes them more environmentally friendly. As part of efforts to promote sustainable transportation, this may be an important factor driving demand for traction transformers.

Every component, including traction transformers, has a limited lifespan and must be periodically upgraded and replaced. Due to the age of the existing electric locomotive fleet, new and more efficient traction transformers are needed. Traction transformer market growth is primarily driven by replacement demand. Improved reliability and higher efficiency in traction transformer technology may also contribute to increased demand. A new generation of traction transformers may be more competitive than their predecessors, leading to increased demand as operators upgrade their existing systems.

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How does the Demand for Traction Transformers Fare?

Growing Rail Infrastructures and Government Support to Grow Demand for Traction Transformer Market

Globally, the traction transformer market is driven by the shift towards electric vehicles (EVs) and railway electrification. A growing number of electric trains, trams, and other electrified transport systems require traction transformers, as governments and industries strive to reduce carbon emissions.

Several countries invest in developing and modernizing their railway infrastructure. As part of this initiative, existing rail networks will be expanded, high-speed rail lines will be built, and rail transit systems will be implemented in urban centers. Traction transformers are needed for these infrastructure development projects in order to provide efficient and reliable electrical traction.

Emerging economies are experiencing rapid urbanization and population growth, driving the need for efficient and reliable transportation systems. Trains and trams often use traction transformers for power, which is crucial for urban transportation. Traction transformers are growing in demand because of the need for enhanced mobility in cities.

Various technological advancements are taking place in the traction transformer industry to enhance performance, reduce energy losses, and improve efficiency. Electric transportation systems require lightweight and compact transformers, which are being developed to meet their specific needs. As a result of these advances, investments are being attracted and the market is growing.

Incentives and supportive policies are being implemented worldwide to encourage the adoption of electric transportation. Electric vehicle subsidies, tax benefits, and railway development funding are some of these policies. Manufacturers and suppliers of traction transformers are encouraged to invest in this sector through such initiatives.

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What Opportunities are Projected to present themselves in the Traction Transformer Market?

Innovation and Services will Drive Demand in the Future

Electric vehicle manufacturers, rail operators, and infrastructure developers can collaborate and partner with traction transformer manufacturers. Developing integrated solutions together will allow them to capitalize on the growing demand for electrified transportation.

The traction transformer market, particularly in Asia-Pacific and Latin America, offers significant growth opportunities. For traction transformer manufacturers, the expansion of rail networks and urbanization in these regions provide a favorable market environment.

Continual product innovation, focusing on reliability, efficiency, and compactness, can enable a company to gain a competitive advantage. New market segments can be opened up and customers looking for cutting-edge solutions can be attracted by transformers with higher power density, advanced cooling systems, and smart features.

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Country-wise Insights

What is the Growth of Traction Transformers in the North American Region?

Government Funded Projects to Expand Market for Traction Transformers in North America

North America is expected to be the fastest-growing market for traction transformers between 2023 to 2033. According to the report, the market is expected to accumulate a revenue share of 24.9%. North American diesel engines and high electrification costs have all contributed to the noticeable growth of traction transformers.

Public infrastructure projects are growing rapidly at an unprecedented rate. It is estimated that the United States traction transformers market will reach US$ 200.2 million in 2033. Infrastructural improvements are being made in rail infrastructure through funding and support from the United States.

Combined with federal funding, rail infrastructure improvements, industrialization, and modernization are driving North American rail markets. A traction transformer converts high-voltage electricity from the cable or third rail into a lower voltage suitable for the traction motors on electric locomotives and electric multiple-unit trains (EMUs).

Railway infrastructure that is aging often needs to be renovated and upgraded in order to remain safe and efficient. With the modernization of the United States' rail network, older locomotives may be replaced with electric ones, causing traction transformer demand to rise.

Are Traction Transformers Gaining Revenue in the Asia Pacific?

Asia Pacific to Lead Traction Transformer Market

According to Persistence Market Research, the Asia Pacific traction transformer sales will reach US$ 697.158 million by 2033. Due to rising investment, the traction transformer market in Asia Pacific is expected to grow rapidly. Emerging markets such as India and China will also drive demand for the Asia-Pacific region.

The presence of international players and rapid technological advancements in the region make the Asia Pacific the leader in the traction transformer market. Asia-Pacific is expected to have a spike in public transportation demand due to population growth and infrastructure upgrades. As a result, the traction transformer market in the region is expected to expand.

India and China have growing railway sectors, which will increase demand in the future. Rapid urbanization and development in China are increasing the demand for energy and railway electrification. Over the forecast period, China is expected to gain 52% of the market share. Between 2023 and 2033, markets in China are projected to grow at an 8.1% CAGR.

Indian railway systems and metro projects are likely to increase demand for equipment. As the nation's rail infrastructure develops, Indian authorities hope to attract players for upgrading rolling stocks.

Category-wise Insights

By Rolling Stock, which Traction Transformer Category is expected to drive expansion?

Electric Locomotives are anticipated to make extensive use of Traction Transformers

Electric locomotives have a significant impact on the demand for traction transformers. In 2033, the market for this segment is predicted to grow at a 6.5% CAGR. Electrification of railway networks is becoming a trend in many countries as a sustainable and energy-efficient replacement for diesel locomotives. Among the advantages of electric locomotives are their reduced operating costs, lower emissions, and increased efficiency. As electric trains become more common, the demand for traction transformers has increased.

Rail transport is becoming increasingly popular because of factors such as urbanization, increasing population density, and mass transit being more efficient. With their environmental benefits and higher efficiency, electric locomotives are becoming increasingly popular in passenger and freight applications. Tactility transformers are in greater demand as electric locomotives become more common.

China, Japan, and several European nations have developed high-speed rail projects, which have resulted in a substantial demand for traction transformers. The traction systems of high-speed trains provide the power necessary for the trains to reach their maximum speed. For these high-speed rail networks, traction transformers with higher power ratings are required.

Which Category of Traction Transformers does Overhead Line Voltage are expected to Generate Higher Revenue?

Demand for AC Traction Transformers to be the most promising

According to PMR, the AC overhead line voltage segment will grow at a CAGR of 6.2% by 2033. Demand for high-voltage AC power is typically delivered via overhead lines or third rails. Different rail infrastructures require different power supply systems.

Modern rail systems use traction greatly for a number of reasons, including improved energy efficiency, higher torque, and better control. Trains and locomotives are powered by high-voltage AC power stepped down from overhead lines or third rails by transformer substations located along rail lines.

Transformers are used at these substations to convert the voltage from one form to another. As a result, demand is expected to increase exponentially. In the traction substation, the AC power is further stepped down and converted into a form that can be used by the AC traction motors. A rectifier or inverter is typically included in power electronics equipment.

Competitive Landscape

Manufacturers and developers of traction transformers form strategic partnerships. Marketing efforts, technological capabilities, and product offerings must be improved in order to increase the firm's market share. Innovative solutions can be developed by combining the strengths of these companies. Research and development are done along with improving the product. In order to compete with their competitors, companies often launch new products.

  • In January 2023, RAPT upgraded Line 6 by rearranging rubber-tyred rolling stock. Rail services will include rubber-tired MP89 trains on Line 6. As part of Line 6's upgrade programme, signaling track and platform modifications are also planned. Several additional stabling tracks will be laid as well as a new traction transformer installed.
  • In May 2023, Indian Railways has recently ordered 90 Vande Bharat trainsets through the Integral Coach Factory (ICF). Motors, transformers, and mechanical bogies will be supplied by BHEL, as well as IGBT-based IGBT-based traction converters, auxiliary converters, train control management systems, and IGBT-based traction converters. Bhopal, Jhansi, and Bengaluru are the BHEL sites that will manufacture the products.

Report Scope

Attribute Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

US$ billion for Value

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • Singapore
  • Thailand
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa
  • Israel

Key Market Segments Covered

  • Rolling Stock
  • Mounting Position
  • Overhead Line Voltage
  • Region

Key Companies Profiled

  • ABB Ltd
  • Alstom SA
  • JST transformateurs
  • Mitsubishi Electric Corporation
  • Siemens AG
  • EMCO Limited
  • Hind Rectifiers Ltd
  • International Electric Co., Ltd.
  • Wilson Transformer Company
  • Toshiba Corporation
  • Neeltran Inc

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Traction Transformer Market Outlook by Category

By Rolling Stock

  • Electric Locomotives
    • Freight Locomotives
    • Passenger Locomotives
  • High-speed Trains
  • Metros

By Mounting Position

  • Underframe
  • Machine Room
  • Roof

By Overhead Line Voltage

  • AC
    • 1.2KV
    • 15KV
    • 20KV
    • 25KV
  • DC
    • 0.75KV
    • 1.5KV
    • 3KV

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • ABB Ltd
  • Alstom SA
  • JST Transformateurs
  • Mitsubishi Electric Corporation
  • Siemens AG
  • EMCO Limited
  • Hind Rectifiers Ltd
  • International Electric Co., Ltd.
  • Wilson Transformer Company
  • Toshiba Corporation
  • Neeltran Inc

- Frequently Asked Questions -

According to estimates, the traction transformer market was worth US$ 693 million by 2022.

Traction transformers are expected to generate US$ 724.2 million in sales by 2023.

Globally, the market for traction transformers is projected to grow by US$ 1.4 billion by 2033.

The traction transformer market is expected to grow at a CAGR of 6.7% during the forecast period.

Traction transformer growth increased by 4.6% CAGR from 2018 to 2022.

The electric locomotives segment is expected to dominate the traction transformer market and grow at a CAGR of 6.5% by 2033.

The traction transformer market in South Korea is set to grow at a CAGR of 7.1% over the forecast period.

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