The traction transformer market is estimated to achieve about USD 1.7 billion by 2018. It is predicted to increase at around 7.5 percent CAGR during the forecast phase. A traction transformer is an electrical instrument utilized in the design and manufacture of railway systems. It transports energy from one route to another via electromagnetic stimulation. One of the prime drivers of the traction transformer market is road blockages owing to huge traffic on roads.
A traction transformer varies completely from power and distribution transformers and requires particular concerns owing to vibration issues and presence of space. Thus, the pressures on a traction transformer are very high and the latter needs to be strong enough to tolerate it. The worldwide traction transformer market is estimated to rise from around USD 1.2 billion in 2013 to the aforementioned figure in 2018.
A traction transformer is segmented into three prime sectors, depending on kinds. These are tapped, rectifiers and tap changing. Tapped transformers added utmost income to the traction transformer market in 2012. They are utilized in high speed trains and locomotives owing to their higher power ratings. Traction transformers are utilized in four types of rolling stock. These include electric-locomotives, high speed trains, electric multiple units and trams.
As road blockages are becoming a primary concern for emergent and urbanized nations of the world, governments are hoping that tramways and high-speed trains would provide a solution. Thus, the traction transformer market is a significant component of the expansion of rail transport. Latin America, North America, Africa and Australia are anticipated to be prospective traction transformer markets in the years ahead.
Although, constructing rail infrastructure in Africa would consume time, other regions of the globe can still be considered as stable markets for solid state transformers utilized in traction transformers. Scarcity of power supply is estimated to act as an obstruction for the traction transformer market.