Traction Equipment Market
The opportunity in the global traction equipment market is poised to increase for US $ 223.38 bn in 2014 to be worth US $ 322.35 bn by 2024 . If these values hold true , the market is expected to register a modest CAGR of 2.34 % during the forecast period . The demand for traction equipment is also anticipated to expand at a tepid 2.09 % CAGR from 2016 to 2024 .
At a revenue share of 39.44 %, Asia Pacific led the overall traction equipment market in 2014 and is likely to retain its lead through 2024 . Europe is a close second . The traction equipment market in the Rest of the World is anticipated to expand at the fastest pace from 2016 to 2024 in terms of both revenue and demand . By type of equipment , traction motors are the leading contributors to the growth of the traction equipment market by value as well as volume , while the segment of traction transformers is projected to register the highest CAGR during the forecast period .
“ The growth rates of these equipment correspond to that of the electrified network and locomotives across the globe ,” the TMR analyst states . “ As a result , the demand for traction equipment will rise with the increase in investments made in railways .”
Traction Equipment Market , by Equipment Type
• Traction Transformer
• Traction Motor
Download the Traction Equipment Industry Fact Sheet by 2024 @ http :// www . transparencymarketresearch . com / sample / sample . php ? flag = S & rep _ id = 13115
TABLE OF CONTENT
Preface
1.1 . Report Description
1.2 . Market Segmentation
1.3 . Research Scope
1.4 . Research Methodology
Transparency Market Research
3