The Asia Pacific Traction Transformer Market would witness market growth of 6.2% CAGR during the forecast period (2022-2028).
The heavy traffic on the roadways is one of the main factors driving the expansion of railways. People are using airplanes more frequently to cut down on travel time, but these cannot be accessed by everyone as they are expensive. Therefore, government programs to create high-speed trains with great power have been started in order to improve the regularity of the railway system.
Several OEMs in the industry are forming public-private partnerships to build rail infrastructure in various nations across the world in order to guarantee a consistent increase in demand. Furthermore, it is anticipated that supportive government initiatives, such as funding for the creation of improved public transportation, will make it easier to implement traction transformers. This will in turn strengthen the operational effectiveness of rail infrastructure across a number of nations.
The People's Republic of China (PRC) is building high-speed rail (HSR) at a fast rate to boost rail competition in the passenger sector and ease inter-city transit. All cities have developed new towns surrounding HSR stations to take benefit of spillover effects, establish economic cohesiveness at the local level, and recuperate the local equivalent investment in infrastructure. Many standardized technology and techniques have been created to hasten HSR construction.
The China market dominated the Asia Pacific Traction Transformer Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $82.7 million by 2028. The Japan market is estimated to grow a CAGR of 5.6% during (2022 - 2028). Additionally, The India market would experience a CAGR of 6.9% during (2022 - 2028).
Based on Mounting Position, the market is segmented into Machine Room, Under the Floor, and Over the Roof. Based on Voltage Network, the market is segmented into Alternative Current (AC) Systems and Direct Current (DC) Systems. Based on Rolling Stock, the market is segmented into Electric Locomotives, Metros, High-speed Trains, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Traction Transformer Market is Projected to reach USD 901.6 Million by 2028, at a CAGR of 5.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, JST Transformateurs, EMCO Limited, Hind Rectifiers Limited, International Electric Co, Ltd, Mitsubishi Electric Corporation, Schneider Electric SE and Wilson Transformer Company Pty Ltd.
By Mounting Position
By Voltage Network
By Rolling Stock
By Country
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