Global Railroad Traction Power Supply System Market is valued at USD 28.88 billion in 2022 and is projected to reach a value of USD 43.99 billion in 2030 expanding at a CAGR of 5.4% over the forecast period of 2022-2030.
A traction motor in railways constitutes an electric motor that converts electrical energy into torque energy, and it is connected to a shaft, resulting in linear motion.
Traction motors are powered by electricity and generate the power to rotate the wheels of the train.
The turning force produced by traction motors is transmitted to the wheels via the driving gear unit and axle.
Traction motors are typically mounted in the railway rolling stocks where the wheels are housed.
Reduced number of components for fewer items requiring maintenance and reduced frequency.
Completely sealed structure and improved accessory devices such as cooling fans help keep noise levels low in railway traction motors.
Global Railroad Traction Power Supply System Market: Overview
The Global Railroad Traction Power Supply System Market is valued at USD 28.88 billion in 2022 and is projected to reach a value of USD 43.99 billion in 2030 expanding at a CAGR of 5.4% over the forecast period of 2022-2030.
Government investments on railways infrastructure development and increase in number of railway network the demand for railway traction inverters will increase.
In urban areas, governments are focusing on investing significant amount to develop the effective and efficient transport infrastructure, such as increase in number of metro stations as well as metros, to make passenger transport faster and comfortable.
Railways are an integral part of the public transportation system around the globe and will play an important role due to increasing public density, urbanization and changing travel behaviour of the population.
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These factors are expected to accelerate the growth of the railway traction inverter market throughout the assessment period.
Key Trends: Growth Determinants and Challenges
Air pollution caused by transportation
Air pollution caused by transportation has been a major environmental issue, and governments across the globe have been making vigorous efforts to lower the emissions from transportation. According to data collected from the European Commission, railways emit around 1% of all transport NO2. Consequently, existing HC fuel powered railways are being converted into electric railways to reduce these emissions.
Electrification of railway routes is rapidly increasing across the globe. India electrified more than 6000 km’s of its rail network during 2020. Electrification of rail networks and conversion of conventional diesel locomotives into electric locomotive are boosting the demand for electric traction systems.
Installing high-capacity lithium-ion batteries
Progress is being made on the practical application of technologies for installing high-capacity lithium-ion batteries in rolling stock and using them for traction power. In particular, installing batteries in rolling stock that runs on non-electrified sections of track can save energy, minimize noise, and reduce maintenance requirements as compared to that by conventional diesel railcars. Hitachi has commercialized a battery-powered train that can run on non-electrified sections of track by using energy stored in batteries that are charged from the alternating current (AC) overhead lines These new technologies offer significant opportunities for players in the global railway traction market.
Competitive Landscape:
- ABB Group
- ALSTOM
- BHEL
- Bombardier
- Hyundai Rotem Company
- Mitsubishi Electric Corporation
- Saini Group
- Siemens
- Sulzer Ltd.
- VEM Group
Segmental Analysis of Global Railroad Traction Power Supply System Market:
Based Type
- DC Traction Motor
- AC Traction Motor
- Synchronous AC Traction Motor
Based on Application
- Diesel Locomotive
- Electric Multiple Units
- Electric Locomotives
- Diesel-Electric Locomotives
Based on Component
- Current Collectors
- Propulsion systems
- Auxiliary Power Supply Unit
- Control Units
- Others
Based on Railway Type
- Passenger
- High-speed Railways
- Metro or Subway
- Trams
- Suburban
- Monorail
- Freight
Asia Pacific held a significant share of the global railway traction market in 2020. This high share is attributable to the expansion of rail network, increase in locomotive production, and high number of passengers carried by railways in China, India, and other countries in Asia Pacific.
Major questions answered in the report:
- What are the major challenges, growth factors and trends in the Global Railroad Traction Power Supply Systems Market?
- Which top companies are contributing in the growth of Global Railroad Traction Power Supply Systems Market?
- Which regional segment accounts for the largest revenue share in the Global Railroad Traction Power Supply Systems Market?
Key takeaways from the report:
- Regional analysis coupled with other segmental analysis.
- Market trends, challenges and growth factors.
- The Global Railroad Traction Power Supply System Market is valued at USD 28.88 billion in 2022 and is projected to reach a value of USD 43.99 billion in 2030 expanding at a CAGR of 5.4% over the forecast period of 2022-2030.
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