Traction transformer market was valued at $815 million in 2024 and is projected to grow at a CAGR of 4.4% to reach $1.3 billion by 2035. The expansion of high-speed rail networks and the increasing integration of power transmission and distribution networks in both urban and rural areas, along with the growing need for traction transformers, are the main factors propelling the market’s expansion. According to the International Energy Agency (IEA), in July 2023, India is investing in a road-to-rail shift and is rapidly moving towards its target of 100.0% rail track electrification by 2024, with the share of electrified tracks increasing from 45.0% in 2015 to 80.0% in 2022.
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With the increasing number of high-speed rail projects being constructed globally, governments and the business sector are investing in train infrastructure to improve connectivity and dependability. The use of innovative innovations such as lightweight and environmentally friendly transformers is growing. Furthermore, increasing supportive policies and environmental issues promote the adoption of energy-efficient systems. This results in an increasing traction transformer market. For instance, in January 2024, India’s National High-Speed Rail Corp. Ltd. awarded an order to Sojitz Corp. and Larsen & Toubro Limited, a prominent general contractor and complete engineering firm in India, for electrification system works including 508 km of the Mumbai-Ahmedabad High-Speed Rail project.
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- Market Coverage
- Market number available for – 2025-2031
- Base year- 2025
- Forecast period- 2025-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Traction Transformers Market Report Segment
By Rolling Stock
- Locomotives (Diesel and Hybrid)
- High-Speed Trains
- Electric Multiple Unit (EMUs) and Battery Electric Multiple Units (BEMUs)
By Overhead Line Voltage
- Alternative Current (AC)
- Direct Current (DC)
Global Traction Transformers Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia and New Zealand
- ASEAN Economies
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis for 2024 and forecast to 2035.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global traction transformers market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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