London, 23 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the traction transformer market in the APAC 2015-2019, which is expected to witness an improved CAGR of 8.08% during the period 2014-2019.
The growth of the traction transformer market in the APAC is directly proportional to the growth of electric trains across the region. Rapid urbanization and globalization have encouraged congestion in road and air transport, making electric trains a better option. Therefore, increased demand for electric locomotives and high-speed trains has fuelled the demand for traction transformers in the region.
“China, India, Japan, and South Korea are the major revenue generators for the traction transformer market in the APAC,” says Faisal Ghaus, Vice President of Technavio.
“China and India are making efforts to increase the size of their electric locomotive fleets, which will place the APAC in top position in terms of procurement value. This leads to heavy demand for traction transformers, which will motivate vendors to increase their production volumes.”
Key Market Drivers
- Extensive railway network
- Increased investment in rail sector
- High-speed rail network in developing nations
- Stringent gas emission regulations
Key Market Trends
- Advances in technology
- Rapid urbanization
- Increased presence of international vendors
Key Market Vendors
- ABB Ltd.
- Alstom S.A.
- Siemens AG
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
