Market Overview:
The global traction equipment market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for electric vehicles and rising investments in railway infrastructure. The global traction equipment market is segmented by type, application, and region. By type, the market is divided into traction transformer, traction motor, and traction converter. By application, the market is classified into application I and application II. Application I includes metros/subways/light rail trains/trams; locomotives; mining trucks; agricultural tractors; construction vehicles (excavators, bulldozers etc.), airport ground support vehicles ( baggage tugs etc.), material handling equipment (forklifts), passenger cars & coaches) while application II includes heavy haul freight trains). Geographically, the global traction equipment market is analyzed across North America (U.S., Canada), Latin America (Mexico Brazil), Europe(Germany France Italy Spain U K Norway Sweden Switzerland Netherlands Belgium Denmark Finland Ireland Portugal Greece Romania Austria Hungary Poland Czech Republic Slovakia Ukraine Russia Turkey Israel Lebanon Jordan ), Asia Pacific(China Japan India South Korea ASEAN countries Malaysia Indonesia Thailand Vietnam Philippines Singapore Australia New Zealand )and Middle East & Africa(GCC Countries Saudi Arabia Iran Iraq Nigeria South Africa ).
Product Definition:
The term traction equipment refers to any device or mechanism used to create or enhance the grip between a vehicle and the surface on which it travels. This can include devices such as snow chains, all-weather tires, and mud flaps. Traction equipment is important for two reasons: first, it helps keep vehicles from slipping and sliding in slippery conditions; second, it can help provide extra power and stability to moving vehicles.
Traction Transformer:
Traction transformer is a device used to step up or step down the voltage levels of electric power. It is mainly used in railway systems, where it helps in moving the trains from one track to another without any hindrance. The primary function of a traction transformer is to provide electrical power for propulsion and heating purposes for the train.
The global traction transformer market size was valued at USD 856 million in 2016 and is expected to grow at a CAGR of 5.
Traction Motor:
Traction motor is a device, which aids to move the vehicle or equipment by means of wheels. It is used in traction equipment such as railway locomotive and trucking vehicles among others. The global traction motor market size was valued at USD 5,800 million in 2016 and is expected to grow at a CAGR of XX% over the forecast period.
Application Insights:
Application I is anticipated to dominate the global traction equipment market in terms of revenue share at over 40.0% by 2030. Application II includes Application I and application III which are heavy commercial vehicles (HCVs) and light commercial vehicles (LCVs). LCV segment held the largest share in 2017 owing to increasing demand for trucks, vans, and cars from various industries such as food & beverage, retail, healthcare etc. HCV segment is expected to grow significantly over the forecast period due to its increased capacity for carrying heavy loads on a long distance journey with low maintenance cost as compared with other vehicle types.
The growing construction industry across regions coupled with rising demand from automotive manufacturers for new technologies that can provide clean energy is expected to drive electric motor drives in traction equipment applications over the forecast period.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030 owing to increasing demand for electric traction equipment in countries, such as India and China. In addition, growing investments by governments in these regions are likely to boost the demand for heavy commercial vehicles that require advanced traction systems, thereby driving the global market growth.
Europe accounted for over 25% of revenue share in 2017 on account of presence of prominent manufacturers coupled with high adoption rate of latest technologies across major countries including Germany and France among others. Moreover, growing trend towards electrification across various applications is anticipated to drive product demand over next eight years.
North America held a significant share due its large number of manufacturing facilities present in U S A.
Growth Factors:
- Increasing demand for electric vehicles
- Growing construction and infrastructure activities
- Rising adoption of mechanized farming practices
- Proliferation of online retail platforms
- Growing popularity of leasing and renting services
Scope Of The Report
Report Attributes
Report Details
Report Title
Traction Equipment Market Research Report
By Type
Traction Transformer, Traction Motor, Traction Converter
By Application
Application I, Application II
By Companies
ABB., Alstom SA, American Traction Systems, Bombardier Inc., Caterpillar Inc., Crompton Greaves Limited, Siemens AG, General Electric, Kawasaki Heavy Industries, Mitsubishi Electric, VEM Group, Toshiba, TTM Rail - Transtech Melbourne
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
231
Number of Tables & Figures
162
Customization Available
Yes, the report can be customized as per your need.
Global Traction Equipment Market Report Segments:
The global 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
Application I, Application II
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.
- Alstom SA
- American Traction Systems
- Bombardier Inc.
- Caterpillar Inc.
- Crompton Greaves Limited
- Siemens AG
- General Electric
- Kawasaki Heavy Industries
- Mitsubishi Electric
- VEM Group
- Toshiba
- TTM Rail - Transtech Melbourne
Highlights of The 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:
- Application I
- Application II
- 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 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
- 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?
Traction equipment is a machine that helps move heavy objects. It can be used in factories, construction sites, and other places where large items need to be moved.
Some of the major players in the traction equipment market are ABB., Alstom SA, American Traction Systems, Bombardier Inc., Caterpillar Inc., Crompton Greaves Limited, Siemens AG, General Electric, Kawasaki Heavy Industries, Mitsubishi Electric, VEM Group, Toshiba, TTM Rail - Transtech Melbourne.
The traction equipment market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Traction Equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Traction Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Traction Equipment Market - Supply Chain
4.5. Global Traction Equipment Market Forecast
4.5.1. Traction Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Traction Equipment Market Size (000 Units) and Y-o-Y Growth
4.5.3. Traction Equipment Market Absolute $ Opportunity
5. Global Traction Equipment Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Traction Equipment Market Size and Volume Forecast by Type
5.3.1. Traction Transformer
5.3.2. Traction Motor
5.3.3. Traction Converter
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Traction Equipment Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Traction Equipment Market Size and Volume Forecast by ApplicationIII
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Traction Equipment Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Traction Equipment Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Traction Equipment Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Traction Equipment Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Traction Equipment Demand Share Forecast, 2019-2029
9. North America Traction Equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Traction Equipment Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Traction Equipment Market Size and Volume Forecast by ApplicationIII
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Traction Equipment Market Size and Volume Forecast by Type
9.7.1. Traction Transformer
9.7.2. Traction Motor
9.7.3. Traction Converter
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Traction Equipment Demand Share Forecast, 2019-2029
10. Latin America Traction Equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Traction Equipment Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Traction Equipment Market Size and Volume Forecast by ApplicationIII
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Traction Equipment Market Size and Volume Forecast by Type
10.7.1. Traction Transformer
10.7.2. Traction Motor
10.7.3. Traction Converter
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Traction Equipment Demand Share Forecast, 2019-2029
11. Europe Traction Equipment Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Traction Equipment Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Traction Equipment Market Size and Volume Forecast by ApplicationIII
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Traction Equipment Market Size and Volume Forecast by Type
11.7.1. Traction Transformer
11.7.2. Traction Motor
11.7.3. Traction Converter
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
1110.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Traction Equipment Demand Share, 2019-2029
12. Asia Pacific Traction Equipment Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Traction Equipment Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Traction Equipment Market Size and Volume Forecast by ApplicationIII
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Traction Equipment Market Size and Volume Forecast by Type
12.7.1. Traction Transformer
12.7.2. Traction Motor
12.7.3. Traction Converter
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Traction Equipment Demand Share, 2019-2029
13. Middle East & Africa Traction Equipment Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Traction Equipment Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Traction Equipment Market Size and Volume Forecast by ApplicationIII
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Traction Equipment Market Size and Volume Forecast by Type
13.7.1. Traction Transformer
13.7.2. Traction Motor
13.7.3. Traction Converter
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Traction Equipment Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Traction Equipment Market: Market Share Analysis
14.2. Traction Equipment Distributors and Customers
14.3. Traction Equipment Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ABB.
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Alstom SA
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. American Traction Systems
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Bombardier Inc.
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Caterpillar Inc.
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Crompton Greaves Limited
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Siemens AG
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. General Electric
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Kawasaki Heavy Industries
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Mitsubishi Electric
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. VEM Group
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Toshiba
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. TTM Rail - Transtech Melbourne
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
