Traction Transformer Market Share

APAC Market Statistics

The Asia Pacific traction transformer market is poised to gather the largest revenue share of 50.1%, attributed to the burgeoning construction of a high-speed railway network.  The area is home to several rail projects, including high-speed rail networks and urban metro systems, which are likely to boost the demand for traction transformers. In addition, governments of the region are stepping up to modernize their rail systems, leading to a higher demand for traction transformers. Asia may have more than 60,000 km of high-speed rail network by 2030, an increase of roughly 27,000 km from 2020.

China's fundamental national policy is to save energy, which may drive traction transformer market growth in the coming years. For instance, to save energy, guarantee safety, and safeguard the environment, the China Railway Electrification Engineering Group and the China Railway Eryuan Engineering Group have created a new kind of vegetable oil-insulated traction transformer for use on railroads.

In India, the government has been investing in the electrification of railway lines, which may boost the demand for traction transformers. Indian Railways has placed orders with Hitachi Energy India Ltd. for traction transformers that helped the Indian government realize its goal of electrifying the whole broad-gauge network in 2023.

Europe Market Analysis

The traction transformer market in Europe is projected to experience a significant rise in revenue over the projected timeframe encouraged by the increasing funding for the construction of the metro network.  To lessen traffic congestion on the roads, lower emissions, and boost the industry's digital connectivity, EU has made financing available to support rail infrastructure initiatives, which is expected to augment market demand for traction transformers. For instance, various rail upgrading projects have received around USD 6.63 billion in funding under the most recent EU Connecting Europe Facility grant provisions.

The traction transformer market in Germany may witness tremendous growth as the German government has intensified its efforts to promote train travel in the face of climate change and has provided subsidies to build more railroad lines.

After Germany, France, and Spain, Italy has the fourth-largest high-speed rail network in all of Europe and is the only nation to have staged a direct competition over its complete high-speed rail (HSR) network. As a consequence, the demand for traction transformers may rise in the country.