Traction Equipment Market Estimated to Cross US$ 290 Bn by 2030

According to the Vision Research Reports, the Global Traction Equipment market size was valued at USD zz billion in 2020 and is projected to reach US$ 290 billion by 2030 .

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The research report expects the vendor landscape of the global market to remain fragmented as more number of players are expected to enter into the fray. The market is intensely competitive and innovation driven. Companies with high levels of technological infrastructure and highly viable and proficient products stand a chance for a sustainable future in the global traction equipment market. These leading players in the global market are expected to concentrate on developing technologically sound and advanced products in order to stay ahead of their competition.

The global traction equipment market is extremely technology-centric and is immensely fragmented. Despite the fact that only companies that can provide cost-effective and high-efficiency products can sustain in this market, the degree of competition is anticipated to remain high during the forecast period owing to the constant demand for traction equipment, especially from emerging markets.

The global rise in the demand for mass transportation can be attributed to the surge in investments in the expansion of railway networks across both developing and developed economies. Traction equipment is what drives locomotives and countries such as China, India, the U.S., and Germany have been presenting an increased demand for the same.

Based on equipment, the traction equipment market was driven by traction engines in 2020. The segment registered a huge share of around 80% and is anticipated to hold its lead through 2030.

Europe is one of the oldest markets for traction equipment as the first steam, electric, and diesel locomotives were invented in this region. The region is anticipated to trail Asia Pacific in terms of volume and revenue during the forecast period. The strengthening of emission control policies in Europe has made railways an attractive alternative to other modes of transport and this anticipated to fuel the demand for traction equipment in the region.

Asia Pacific to Continue Dominating Market

Depending on the type of equipment, the global traction equipment market has been consistently dominated by traction engines since 2020. The segmented accounted for the lion’s share of nearly 80% of the overall market and is projected to continue to dominate in the foreseeable future.

“Geographically speaking, the global traction market is expected to be led by the regional segment of Asia Pacific. The region accounted for around 41% of the market share in terms of both volume and share and has thus become the chief contributor for the growth of the global market”, observes VRR analysts. In addition to this, fast economic and industrial developments in emerging nations such as India, China, and Philippines among others are also responsible for driving the development of the traction equipment market in the Asia Pacific region. Other regional segments such as North America and Europe are expected to show moderate growth rates in the near future.

Key Players

Some of the key names in the global traction equipment market include names such as Toshiba International Corporation, TTM Rail – Transtech Melbourne Pty Ltd., Caterpillar Inc., VEM Group, Kawasaki Heavy Industries, and ABB Ltd. among others.

Report Highlights Details
Market Size US$ 290 billion by 2030
Base year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Equipment Type
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Toshiba International Corporation, TTM Rail – Transtech Melbourne Pty Ltd., Caterpillar Inc., VEM Group, Kawasaki Heavy Industries, and ABB Ltd. among others

Market Segmentation

Traction Equipment Market: Equipment Type

  • Traction Transformer
  • Traction Motor
  • Traction Converter

Traction Equipment Market: Regional Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia Pacific
  • Rest of the World
    • Brazil
    • Others Countries

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Research Methodology

The research methodology adopted by analysts for compiling the global traction equipment market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global traction equipment market.

Table of Contents

Chapter 1.   Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.   Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.   Executive Summary

3.1.  Market Snapshot

Chapter 4.   Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.     Raw Material Procurement Analysis

4.3.2.     Sales and Distribution Channel Analysis

4.3.3.     Downstream Buyer Analysis

Chapter 5.   Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.     Market Drivers

5.1.2.     Market Restraints

5.1.3.     Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.     Bargaining power of suppliers

5.2.2.     Bargaining power of buyers

5.2.3.     Threat of substitute

5.2.4.     Threat of new entrants

5.2.5.     Degree of competition

Chapter 6.   Competitive Landscape

6.1.1.     Company Market Share/Positioning Analysis

6.1.2.     Key Strategies Adopted by Players

6.1.3.     Vendor Landscape          List of Suppliers          List of Buyers

Chapter 7.   Global Traction Equipment Market, By Equipment Type

7.1.  Traction Equipment Market, by Equipment Type, 2020-2027

7.1.1.     Traction Transformer          Market Revenue and Forecast (2016-2027)

7.1.2.     Traction Motor          Market Revenue and Forecast (2016-2027)

7.1.3.     Traction Converter          Market Revenue and Forecast (2016-2027)

Chapter 8.   Global Traction Equipment Market, Regional Estimates and Trend Forecast

8.1.  North America

8.1.1.     Market Revenue and Forecast, by Equipment Type (2016-2027)

8.1.2.     U.S.

8.1.3.     Rest of North America          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.2.  Europe

8.2.1.     Market Revenue and Forecast, by Equipment Type (2016-2027)

8.2.2.     UK          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.2.3.     France          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.2.4.     Rest of Europe          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.3.  APAC

8.3.1.     Market Revenue and Forecast, by Equipment Type (2016-2027)

8.3.2.     India          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.3.3.     China          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.3.4.     Japan          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.3.5.     Rest of APAC          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.4.  MEA

8.4.1.     Market Revenue and Forecast, by Equipment Type (2016-2027)

8.4.2.     GCC          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.4.3.     North Africa          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.4.4.     South Africa          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.4.5.     Rest of MEA          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.5.  Latin America

8.5.1.     Market Revenue and Forecast, by Equipment Type (2016-2027)

8.5.2.     Brazil          Market Revenue and Forecast, by Equipment Type (2016-2027)

8.5.3.     Rest of LATAM          Market Revenue and Forecast, by Equipment Type (2016-2027)

Chapter 9.      Company Profiles

9.1.  Toshiba International Corporation

9.1.1.     Company Overview

9.1.2.     Product Offerings

9.1.3.     Financial Performance

9.1.4.     Recent Initiatives

9.2.  Transtech Melbourne Pty Ltd.

9.2.1.     Company Overview

9.2.2.     Product Offerings

9.2.3.     Financial Performance

9.2.4.     Recent Initiatives

9.3.  Caterpillar Inc.

9.3.1.     Company Overview

9.3.2.     Product Offerings

9.3.3.     Financial Performance

9.3.4.     Recent Initiatives

9.4.  VEM Group

9.4.1.     Company Overview

9.4.2.     Product Offerings

9.4.3.     Financial Performance

9.4.4.     Recent Initiatives

9.5.  Kawasaki Heavy Industries

9.5.1.     Company Overview

9.5.2.     Product Offerings

9.5.3.     Financial Performance

9.5.4.     Recent Initiatives

9.6.  ABB Ltd

9.6.1.     Company Overview

9.6.2.     Product Offerings

9.6.3.     Financial Performance

9.6.4.     Recent Initiatives

Chapter 10.  Research Methodology

10.1.                 Primary Research

10.2.                 Secondary Research

10.3.                 Assumptions

Chapter 11.  Appendix

11.1.                 About Us

11.2.                 Glossary of Terms

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