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
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TABLE OF CONTENT
Preface
1.1. Report Description
1.2. Market Segmentation
1.3. Research Scope
1.4. Research Methodology
Transparency Market Research
3