Oil Filled Traction Transformers Market, By Mounting Position (Machine Room, Under the Floor, Over the Roof), By Voltage Network (Alternative Current (AC) Systems, Direct Current (DC) Systems), By Rolling Stock (Electric Locomotives, Metros, High-speed Trains), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America). The global Oil Filled Traction Transformers Market size was estimated at USD 1.6 billion in 2023 and is projected to reach USD 2.1 billion in 2030 at a CAGR of 7.5% during the forecast period 2024-2030.
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Competitive Landscape of Oil Filled Traction Transformers Market:
· ABB
· Siemens
· JST Transformateurs
· ZARCO REALTIES PRIVATE LIMITED
· Hirect
· International Electric Co., Ltd.
· Mitsubishi Electric Corporation
· Schneider Electric
· Wilson Transformers
· GE
· Setrans Holding AS
· EMCO Limited
· Hind Rectifiers Limited and More
Key Findings
· On the basis of Voltage Network, The Oil Filled Traction Transformers Market segmentates based on voltage network into alternative current (AC) systems and direct current (DC) systems. In 2022, the direct current systems segment captured a substantial revenue share. Adopting a DC electrification system offers numerous advantages, such as considerations for weight and space, rapid braking and acceleration of DC electric motors, cost-effectiveness, and lower energy consumption. These benefits contribute to the preference for DC systems in railway electrification projects, reflecting their significant impact on enhancing operational efficiency and reducing overall project costs.
· On the basis of Mounting Position, The Oil Filled Traction Transformers Market categorizes mounting positions into over the roof, machine room, and under the floor. In 2022, the machine room segment dominated the market in terms of revenue. Within multi-phase rail systems, equipment positioned in machine rooms offers superior flexibility and reliability. The segment is expected to grow during the forecast period, driven by increased adoption of machine room traction motor drives in high-speed trains and electric locomotives. This trend underscores the critical role of machine room installations in enhancing operational efficiency and meeting the evolving demands of modern railway infrastructure worldwide.
· On the basis of Rolling Stock, In 2022, the Oil Filled Traction Transformers Market segments rolling stock into electric locomotives, metros, high-speed trains, and others, with the electric locomotives segment leading in revenue. As rail networks globally transition, electric locomotives are increasingly supplanting steam and diesel counterparts. This shift reflects the industry's embrace of advanced technology and cleaner, faster operational capabilities. The trend underscores a broader movement towards modernizing railway systems to enhance efficiency and sustainability, aligning with evolving environmental and operational standards worldwide.
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Asia pacific to Dominate the Oil Filled Traction Transformers Market:
Asia Pacific dominates the oil tilled traction transformers market, fueled by the rapid expansion of rail networks in developing nations, particularly high-speed metros, which are driving market growth. The increasing adoption of electrified railways is also boosting the demand for traction transformers in the region. In 2022, Asia Pacific held the largest share of the Oil Filled Traction Transformers Market, accounting for 33.4% of revenue, and is projected to maintain the highest compound annual growth rate (CAGR). This growth is supported by substantial government investments and regulatory initiatives aimed at enhancing regional railway infrastructure.
Recent Developments
In April 2023, The BHEL-TWL consortium reached a notable milestone by securing a substantial order for 80 Vande Bharat Trains, marking one of the largest railway tenders for manufacturing and maintaining these trains. BHEL, well-known for its expertise as a leading supplier of rolling stock electrics to Indian railways, will play a pivotal role in this project. Their responsibilities include providing a complete propulsion system, encompassing a train control management system, IGBT-based traction converter-inverter, auxiliary converter, motors, transformers, and mechanical bogies..
In January 2023, The RATP (Parisian Autonomous Transport Administration), operator of the Paris metro, launched an upgrade program for Line 6, stretching from Charles de Gaulle-Étoile to Nation. As part of this initiative, MP89 rubber-tired trains are set to be introduced. The current MP73 fleet on Line 6 will be phased out and replaced by refurbished MP89 trains from Line 4, which will undergo shortening from six cars to five.
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