FORT WORTH, Texas, May 5, 2015 /PRNewswire/ --
The North American traction transformer market report defines and segments the concerned market with analysis and forecast of revenue. The market for traction transformers in North America was valued at $149.1 million in 2014, and is projected to reach $233.1 million by 2019, at a CAGR of 9.4% from 2014 to 2019.
Browse through the TOC of North America Traction Transformer Market for an analysis of industry trends and segments, with the help of various tables and figures.
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Traction transformer forms an integral part of the electric traction, which is a propulsion system mainly used in rail transport. Recent advancements made in traction transformer technology have resulted in the increasing adoption of these devices among varied end-user applications. The North America traction transformer market is segmented on the basis of type, voltage range, application, and geography. According to application, this market is classified into high-speed trains, electric locomotives, electric multiple units (EMUs), and trams. The traction transformer market for high speed train is projected to grow at a CAGR of 10.1% during the forecast period.
Electric traction using traction transformers has many critical advantages over the conventional diesel-based traction systems. Electric traction systems offer numerous benefits, such as power reliability, energy efficiency, long trouble-free service life, and low environmental impact. Among all sectors, the railway industry has become the highest fuel consuming segment in the market. In order to reduce the dependence on oil/diesel consumption, the concept of electrification of railways is slowly gaining popularity. Thus, electrification of rail network has become one of the most significant driving factors influencing the growth of the North America traction transformer market.
In North America, the congestion of roadways and airways is becoming a matter of major concern. In order to resolve this issue, the governmental bodies of this region are shifting their focus towards high-speed trains and tramways as a preferred medium of transportation to ease this pressure. This has become yet another driving factor propelling the growth of the traction transformer market in North America.
This market research report offers a comprehensive overview of market share and value chain analysis, along with in-depth insights on varied market metrics, such as drivers, restraints, and upcoming opportunities. Additionally, the report also lays emphasis on competitive landscape and company profiles of key players thriving in this market.
The Asia-Pacific Traction Transformer Market is estimated to grow at a CAGR of 8.3% from 2014 to 2019. In today's dynamic world of technology, cutting-edge technological capabilities of traction transformers are used for various applications. It is an integral part of the electric traction, which is mainly used for rail transport system that utilizes electricity to power trains and other rolling stock.
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