Market Overview:
The global industrial traction equipment market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles and rising investments in railway infrastructure. The global industrial traction equipment market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into traction transformer, traction motor, and traction converter. The railway segment accounted for a major share of the global industrial traction equipment market in 2017 and is expected to grow at a CAGR of 5% during the forecast period from 2018 to 2030. This growth can be attributed to increasing investments in railway infrastructure across different regions worldwide.
Product Definition:
Industrial Traction Equipment is the equipment used to move materials or products within a factory or industrial setting. This can include conveyor belts, cranes, and forklifts. The importance of Industrial Traction Equipment is that it allows factories to move goods more efficiently and quickly, which can lead to increased production and profits.
Traction Transformer:
Traction transformer is a device used in electric traction equipment for increasing the voltage and power of the system. It is mainly used to provide an alternate power source when primary electricity fails or during switch-over from one supply to another.
The global traction transformer market size was valued at USD 8,15,832 in 2016.
Traction Motor:
Traction motor is a machine used to provide the rotary motion for the wheels of industrial traction equipment. It is also known as electric motor or engine. The working principle of this equipment is based on the wheel and rail system. There are two types of traction motors namely AC (alternating current) and DC (direct current).
Application Insights:
The railway application segment accounted for the largest revenue share of over 60% in 2017. The segment is expected to witness significant growth owing to rising demand for diesel and electric locomotives as well as passenger cars. Moreover, increasing government spending on new railway projects including high-speed rail is further anticipated to drive the market over the forecast period.
Mining was the second largest application segment in 2017 and accounted for a revenue share of 19%. This can be attributed to growing demand from various sectors such as construction, automotive and mining itself which are majorly driven by China which accounts for around 70% of global mining output. Furthermore, robust infrastructure spending in emerging economies including India & Brazil supported by governments is likely to fuel industry expansion over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising investments in electrification and automation of railway infrastructure. China is estimated to invest around USD X billion by 2020 on railways, which will include construction of new high-speed rail lines, stations, and trains as well as modernization of existing infrastructure.
The demand for traction transformer in Europe was valued at over USD X billion in 2017 owing to increasing electrification activities coupled with growing adoption across several industries including mining, oil & gas, marine applications among others. Asia Pacific regional market accounted for a share exceeding 30% owing mainly to high product penetration rates witnessed across emerging economies such as India and China along with other countries such as Indonesia that are richly endowed with natural resources thereby fueling industrialization at a faster pace compared others regions globally thus propelling overall growth within Asia Pacific region over the forecast period.
Growth Factors:
- Increasing demand for electric vehicles
- Growing urbanization and industrialization
- Rising disposable income of consumers
- Technological advancements in electric traction equipment
- Stringent government regulations for emission control
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Traction Equipment Market Research Report
By Type
Traction Transformer, Traction Motor, Traction Converter
By Application
Railway, Mining, Oil and Gas, Others
By Companies
ABB Ltd., Alstom SA, Caterpillar Inc., Mitsubishi Electric Corporation, Toshiba International Corporation, Kawasaki Heavy Industries Ltd., American Traction Systems, Bombardier Inc., Crompton Greaves Limited, Siemens AG, ABB Ltd., VEM Group, TTM Rail - Transtech Melbourne Pty Ltd.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
210
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Traction Equipment Market Report Segments:
The global Industrial Traction Equipment market is segmented on the basis of:
Types
Traction Transformer, Traction Motor, Traction Converter
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Railway, Mining, Oil and Gas, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB Ltd.
- Alstom SA
- Caterpillar Inc.
- Mitsubishi Electric Corporation
- Toshiba International Corporation
- Kawasaki Heavy Industries Ltd.
- American Traction Systems
- Bombardier Inc.
- Crompton Greaves Limited
- Siemens AG
- ABB Ltd.
- VEM Group
- TTM Rail - Transtech Melbourne Pty Ltd.
Highlights of The Industrial Traction Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Traction Transformer
- Traction Motor
- Traction Converter
- By Application:
- Railway
- Mining
- Oil and Gas
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Traction Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Industrial traction equipment is a type of machinery used to move heavy objects over long distances. It includes everything from large trucks and bulldozers to small tractors and forklifts.
Some of the key players operating in the industrial traction equipment market are ABB Ltd., Alstom SA, Caterpillar Inc., Mitsubishi Electric Corporation, Toshiba International Corporation, Kawasaki Heavy Industries Ltd., American Traction Systems, Bombardier Inc., Crompton Greaves Limited, Siemens AG, ABB Ltd., VEM Group, TTM Rail - Transtech Melbourne Pty Ltd..
The industrial traction equipment market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial Traction Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Industrial Traction Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial Traction Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Industrial Traction Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Industrial Traction Equipment Market Size & Forecast, 2020-2028
4.5.1 Industrial Traction Equipment Market Size and Y-o-Y Growth
4.5.2 Industrial Traction Equipment Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Traction Transformer
5.2.2 Traction Motor
5.2.3 Traction Converter
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Railway
6.2.2 Mining
6.2.3 Oil and Gas
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Industrial Traction Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Industrial Traction Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Traction Transformer
9.6.2 Traction Motor
9.6.3 Traction Converter
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Railway
9.10.2 Mining
9.10.3 Oil and Gas
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Traction Transformer
10.6.2 Traction Motor
10.6.3 Traction Converter
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Railway
10.10.2 Mining
10.10.3 Oil and Gas
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Traction Transformer
11.6.2 Traction Motor
11.6.3 Traction Converter
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Railway
11.10.2 Mining
11.10.3 Oil and Gas
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Traction Transformer
12.6.2 Traction Motor
12.6.3 Traction Converter
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Railway
12.10.2 Mining
12.10.3 Oil and Gas
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Traction Transformer
13.6.2 Traction Motor
13.6.3 Traction Converter
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Railway
13.10.2 Mining
13.10.3 Oil and Gas
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Industrial Traction Equipment Market: Competitive Dashboard
14.2 Global Industrial Traction Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB Ltd.
14.3.2 Alstom SA
14.3.3 Caterpillar Inc.
14.3.4 Mitsubishi Electric Corporation
14.3.5 Toshiba International Corporation
14.3.6 Kawasaki Heavy Industries Ltd.
14.3.7 American Traction Systems
14.3.8 Bombardier Inc.
14.3.9 Crompton Greaves Limited
14.3.10 Siemens AG
14.3.11 ABB Ltd.
14.3.12 VEM Group
14.3.13 TTM Rail - Transtech Melbourne Pty Ltd.
