Albany, NY -- (SBWIRE) -- 02/24/2016 -- A new market research report by Transparency Market Research on the global traction transformer market offers a detailed analysis of the factors affecting the growth of the market. The report, titled "Traction Transformer Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023," projects the growth and valuation of the market during the period between 2015 and 2023. The report studies the demand for various types of traction transformers. The growth of the market across key geographical segments has been analyzed and profiles of some of the prominent players in the market have been included in the report.

Traction transformers refer to an electrical device used in designing and manufacturing a railway system. It transfers the energy from one circuit to another through electromagnetic induction. The report points out that the congestions of roads due to heavy traffic have played a pivotal role in the growth of the railway transport system. This, in turn, has led to the manufacture of high-speed trains with high power, thereby boosting the growth of the global traction transformer market. However, inadequate power supply, voltage drops, and performance degradation will hinder the growth of the market. The overall market has a huge opportunity to grow with new advancements in traction technology.

According to product type, the report categorizes the global traction transformer market into tap changing, tapped, and rectifier. The demand for tapped traction transformers is higher compared to other types of traction transformers. These electric transformers display high efficiency of electric motors that convert kinetic energy via regenerative braking systems. The demand for tapped traction transformers is growing with increased applications across high-speed trains, electric locomotives, trams, and electric multiple units (EMUs).

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The global traction transformer market has been segmented into four key regions: North America, Europe, Asia Pacific, and Rest of the World. In terms of revenue, Europe has emerged as the largest market. Early development of electric traction has contributed significantly towards the growth of this market in Europe. During the forecast horizon, Asia Pacific is expected to be the fastest growing market by revenue owing to the high density population across countries such as India and China.

The report profiles some of the key players in the global traction transformer market such as ABB (Switzerland), SPX Transformer (U.S.), Siemens AG (Germany), Alstom (France), Avago Technologies Ltd (U.S), and Schneider Electric SA (France). The major players are trying to manufacture efficient traction transformers to stand ahead of the competition.

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