Market Overview:
The global rail traction converter market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for electric and hybrid locomotives, rising investments in railway infrastructure, and growing adoption of advanced technologies. Based on type, the propulsion converter segment is projected to lead the global rail traction converter market during the forecast period. This can be attributed to the increasing demand for electric locomotives across the globe. However, integrated compact converters are expected to grow at a higher CAGR during the forecast period as they offer high efficiency and low weight along with other benefits such as easy installation and maintenance. Based on application, diesel locomotive segment accounted for majority of share in 2017; however, electric locomotive segment is projected to grow at a higher rate during 2018-2030 owing increased adoption rates across developed countries such as U K.
Product Definition:
A rail traction converter (RTC) is a device used on electrified railways to convert direct current (DC) electricity from the railway power supply to alternating current (AC) for use by train motors. The RTC is a key component of an AC/DC electrical system.
Propulsion Converter:
Propulsion converter is a device used to convert electric power into mechanical energy by using electrical energy stored in batteries. The mechanical energy generated is utilized for the wheels or motors which propel the vehicle forward. One of the important aspects of this product includes controlling and monitoring its speed, converting torque from electric motor to wheel turning force, and controlling battery charging rate.
Integrated Compact Converter:
ICC is a power electronic device that helps to convert the AC to DC and back, with the help of PFC. It’s used in Rail Traction Converter for charging batteries.
Integrated compact converters are designed for applications where high power density is required along with small size and weight. These devices have an integrated circuit (IC) that functions as a switching regulator, which eliminates external components from the system resulting in lower weight and cost reduction.
Application Insights:
The diesel locomotive application segment accounted for the largest market share in 2017 and is projected to grow at a CAGR of XX% over the forecast period. The diesel engine has been one of the most widely used engines on railroads across the world since its invention in 1876 and still remains an important part of modern railway systems. Railways that use diesels are more likely to have traction motors, which require converters for electric locomotives as well as diesel-electric hybrid trains.
The electric locomotive application segment is expected to witness considerable growth during the forecast period owing to increasing government funding towards railways development, particularly in Europe and China where high-speed railways are being developed at a rapid pace. Electric Locomotives do not have any moving parts, so they do not need lubricants or oil; hence their maintenance costs are reduced significantly when compared with their counterparts i.e.
Regional Analysis:
Europe dominated the global market in terms of revenue share in 2017. The European rail sector has been severely affected by the COVID-19 pandemic and this is expected to have a negative impact on its economic performance. However, some countries such as Germany are anticipated to witness positive growth owing to increased government spending on infrastructure development and other initiatives undertaken by them.
Asia Pacific is projected to be one of the fastest growing regional markets over the forecast period owing to increasing demand for high efficiency traction motor from various application segments including electric locomotives, diesel locomotives, industrial applications among others. China led Asia Pacific with largest market share in 2017 due to large scale investments made by Chinese manufacturers such as CSR Corporation Limited (Shanghai) and Sinomach (Beijing). These companies are focusing more on exports rather than domestic sales which will result into huge export numbers for Asia Pacific region during future years till 2030 time frame.
Growth Factors:
- Increasing demand for electric vehicles
- Growing urbanization and industrialization
- Stringent government regulations for emission control
- Development of advanced technologies and components
- Rising investments in rail infrastructure
Scope Of The Report
Report Attributes
Report Details
Report Title
Rail Traction Converter Market Research Report
By Type
Propulsion Converter, Integrated Compact Converter
By Application
Diesel Locomotive, Electric Locomotive, Others
By Companies
ABB, CRRC, Siemens, Ingeteam, Bombardier, Voith, Toshiba, CAF Power & Automation, Končar, Medha, Inovance, Cgglobal
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
199
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Rail Traction Converter Market Report Segments:
The global Rail Traction Converter market is segmented on the basis of:
Types
Propulsion Converter, Integrated Compact 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
Diesel Locomotive, Electric Locomotive, 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
- CRRC
- Siemens
- Ingeteam
- Bombardier
- Voith
- Toshiba
- CAF Power & Automation
- Končar
- Medha
- Inovance
- Cgglobal
Highlights of The Rail Traction Converter 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:
- Propulsion Converter
- Integrated Compact Converter
- By Application:
- Diesel Locomotive
- Electric Locomotive
- 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 Rail Traction Converter 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
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
A Rail Traction Converter is a device that allows electric trains to run on standard railroad tracks.
Some of the major companies in the rail traction converter market are ABB, CRRC, Siemens, Ingeteam, Bombardier, Voith, Toshiba, CAF Power & Automation, KonÄar, Medha, Inovance, Cgglobal.
The rail traction converter market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Rail Traction Converter 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 Rail Traction Converter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Rail Traction Converter 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 Rail Traction Converter 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 Rail Traction Converter Market Size & Forecast, 2020-2028
4.5.1 Rail Traction Converter Market Size and Y-o-Y Growth
4.5.2 Rail Traction Converter 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 Propulsion Converter
5.2.2 Integrated Compact 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 Diesel Locomotive
6.2.2 Electric Locomotive
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Rail Traction Converter 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 Rail Traction Converter 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 Propulsion Converter
9.6.2 Integrated Compact 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 Diesel Locomotive
9.10.2 Electric Locomotive
9.10.3 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 Propulsion Converter
10.6.2 Integrated Compact 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 Diesel Locomotive
10.10.2 Electric Locomotive
10.10.3 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 Propulsion Converter
11.6.2 Integrated Compact 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 Diesel Locomotive
11.10.2 Electric Locomotive
11.10.3 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 Propulsion Converter
12.6.2 Integrated Compact 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 Diesel Locomotive
12.10.2 Electric Locomotive
12.10.3 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 Propulsion Converter
13.6.2 Integrated Compact 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 Diesel Locomotive
13.10.2 Electric Locomotive
13.10.3 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 Rail Traction Converter Market: Competitive Dashboard
14.2 Global Rail Traction Converter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 CRRC
14.3.3 Siemens
14.3.4 Ingeteam
14.3.5 Bombardier
14.3.6 Voith
14.3.7 Toshiba
14.3.8 CAF Power & Automation
14.3.9 Končar
14.3.10 Medha
14.3.11 Inovance
14.3.12 Cgglobal
