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Traction Equipment Market - Global Industry Analysis; Latest Research Report 2016 - 2024 by Transparency Market Research


News provided by

Transparency Market Research

28 Jul, 2016, 08:30 GMT

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Transparency Market Research, July 28, 2016 /PRNewswire/ --

ABB Ltd. is the clear leader in an otherwise fragmented traction equipment market. The company accounted for nearly a quarter of the market in 2014 and has a strong presence in the Americas, Europe, and RoW. The global traction equipment market is immensely capital-intensive and technology-driven and Transparency Market Research believes that technological advancements and brand creation are the best options for players to enhance their market share.

Other players operating in the traction equipment market include Siemens AG, Crompton Greaves Limited, Mitsubishi Electric Corporation, Alstom SA, General Electric Company, Bombardier Inc., American Traction Systems, VEM Group, Toshiba International Corporation, Caterpillar Inc., TTM Rail - Transtech Melbourne Pty Ltd., and Kawasaki Heavy Industries, Ltd.

A number of emerging economies in Asia Pacific present lucrative options for players in the traction equipment market and several companies have been capitalizing on this opportunity in the recent past," the lead author of the study states.

A case in point would be Alstom SA, which has strengthened its footprint in China's blossoming railway sector. Under the joint venture Shanghai Alstom Transport Electrical Equipment Co. Ltd, the company has supplied traction equipment not just for the Shanghai metro line but also the Nanjing metro line since 2014.

Get Industry Research PDF for more Professional and Technical Industry Insights: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=13115

Development and Expansion of Railway Networks Sole Driving Force 

"The global market for traction equipment is entirely dependent on the growth of the railway sector and investments in railways networks globally will impact the demand for traction equipment," a lead analyst at TMR states. The surge in investments, the development and expansion of railway networks in countries such as the U.S., India, China, South Africa, and Spain, and the increase in favorable policies and regulations to curb emissions from transportation are the factors that have driven the demand for traction equipment thus far.

However, TMR predicts that the global market will witness a rather slow growth in demand over the course of the forecast period. This is mainly due to the fact that the manufacturing and delivery time in this market is quite high and compared to the automobile sector the unit-wise shipment in the railway sector is exceptionally low. "Off-the-shelf sales are rare, as are replacement requests," the analyst reports. This limits the demand for traction equipment.

Browse Research Report with ToC & Free Analysis: http://www.transparencymarketresearch.com/traction-equipment-market.html

Asia Pacific Surges Ahead in Demand for Traction Equipment 

The opportunity in the global traction equipment market is poised to increase for US$223.38 bn in 2014 to be worth US$322.35 bn by 2024. If these values hold true, the market is expected to register a modest CAGR of 2.34% during the forecast period. The demand for traction equipment is also anticipated to expand at a tepid 2.09% CAGR from 2016 to 2024.

At a revenue share of 39.44%, Asia Pacific led the overall traction equipment market in 2014 and is likely to retain its lead through 2024. Europe is a close second. The traction equipment market in the Rest of the World is anticipated to expand at the fastest pace from 2016 to 2024 in terms of both revenue and demand. By type of equipment, traction motors are the leading contributors to the growth of the traction equipment market by value as well as volume, while the segment of traction transformers is projected to register the highest CAGR during the forecast period.

Browse Research Press Release: http://www.transparencymarketresearch.com/pressrelease/traction-equipment-market.htm

Expansion and Upgrade of Rail Transit Systems Boost Demand for Traction Equipment in APAC 

In terms of geography, the global traction equipment market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. In 2015, Asia Pacific a share of around 40% both by revenue and volume and has emerged as the leading revenue generator. The region is expected to remain one of the most attractive markets for traction equipment. The significant development of trade and rapidly growing economies have contributed toward the expansion of this market. China is building a major transcontinental cargo rail service under the Silk Road Economic Belt project, which is likely to increase China's trade with European countries. India recently announced its plans for the electrification of its existing railway network with a US$137 bn investment. Australia is working toward expanding its light rail transit systems as well as intercity trains. This increased focus on expanding and upgrading railway networks and systems has boosted the APAC traction equipment market over the years.

Europe is one of the oldest markets for traction equipment as the first steam, electric, and diesel locomotives were invented in this region. The region is anticipated to trail Asia Pacific in terms of volume and revenue during the forecast period. The strengthening of emission control policies in Europe has made railways an attractive alternative to other modes of transport and this anticipated to fuel the demand for traction equipment in the region.

Traction Motors Take the Lead as Suppliers Offer Customized Solutions 

By type of equipment, the traction equipment market was led by traction motors. This segment accounted for a massive share of nearly 80% in 2015 and is expected to retain its lead through 2024. Traction motors are used in electric and diesel locomotives and the key suppliers of traction motors, such as ABB Ltd. and Siemens AG, have been offering customized traction motors to suit the unique requirements of locomotives. Traction converters and transformers are used in electric locomotives as well as in traction substations. The market for these will grow in the forecast period due to various projects being undertaken for the electrification of railway lines across the globe.

"The growth rates of these equipment correspond to that of the electrified network and locomotives across the globe," the TMR analyst states. "As a result, the demand for traction equipment will rise with the increase in investments made in railways."

Browse Regional Market Research: http://www.europlat.org/global-traction-equipment-market.htm

This review is based on the findings of a TMR report titled "Traction Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."

Traction Equipment Market, by Equipment Type 

  • Traction Transformer
  • Traction Motor

Traction Equipment Market, by Region

North America 

  • The U.S.
  • Canada

Europe 

  • Germany
  • The U.K.
  • Spain
  • France
  • Russia
  • Rest of Europe

Asia Pacific 

  • China
  • India
  • Australia
  • Japan
  • Rest of Asia Pacific

Rest of the World 

  • Brazil
  • Other Countries

Browse Other Research Report: 

  • Incinerator Equipment Market: http://www.transparencymarketresearch.com/incinerator-equipment-market.html
  • Industrial Biomass Boiler Market: http://www.transparencymarketresearch.com/industrial-biomass-boiler-market.html

About TMR 

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research

State Tower
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com


Website: http://www.transparencymarketresearch.com
Blog: http://www.tmrblog.com/

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