The global Railway Traction Inverter market is anticipated to reach a valuation of US$ 3,843.4 Million in 2022 and continue to grow at a CAGR of 5.8% from 2022 to 2032, according to research by Future Market Insights. The top 3 nations are predicted to control around 23 to 25% of the market by the end of 2022, as sales of railway traction inverters are expected to grow.
| Attributes | Details |
|---|---|
| Market Size 2021 | US$ 3,144.2 Million |
| Market Size 2022 | US$ 3,843.4 Million |
| Market Size 2032 | US$ 6,754.2 Million |
| Value CAGR (2022 to 2032) | 5.8% |
High-speed trains and metros are becoming more and more popular, along with the increasing demand for domestic travel. Railroad travel agencies are also developing new contacts with various governments to operate rail lines.
Currently, the rail transit infrastructure is being increasingly developed. New signals are being designed and intended for use on light rail vehicles. This has very lucrative opportunities due to population growth and the increase in worldwide rail networks.
Growing implementation of advanced technologies and stringent government regulations for emissions are expected to drive the global railway traction inverter market during the forecast period.
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The market analysis for railway traction inverters from 2017 to 2021 revealed a historical growth rate of 2.4% CAGR, with increased investments in rail infrastructure driving the market's expansion during the course of the historical period from 2017 to 2021.
However, as per the current survey conducted by FMI, the forecast growth outlook for the Railway Traction Inverter is to remain around 5.8% for the period of 2022 and 2032. The global market for railway traction inverters is growing as a result of increasing traction motor integration with locomotive engines, cheap manufacturing and maintenance costs, reduction in performance, and low emission levels.
On the other hand, it is anticipated that increased Research and Development and budgetary support for the development of railroads would create new opportunities for market participants in the forecast period.
The increase in the demand for remote stations due to the increasing amount of railroad infrastructure and government investment in transportation infrastructure will lead to a boost in the need for railroad traction inverter circuits. Governments are devoting a great deal of effort to building and improving transportation infrastructure in cities, such as increasing the number of metro stations and light rail lines.
Due to increasing inner-city living populations, urbanization, and changing demographic travel habits, railroads help constitute a significant component of the global public transport system. These trends are predicted to advertise the railway traction inverter market's future expansion for the next few years.
It is predicted that growing corporate employment, particularly in emerging nations, and growing populations in urban areas would hasten the development of the worldwide railway sector and favorably impact the sales of railway traction inverters. Additionally, European nations are concentrating on expanding their rail networks, introducing new locomotives, metros, and high-speed trains, all of which will accelerate the expansion of the railway traction inverter market.
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Electric traction requires a significant initial outlay for the power system. The entire system will come to a halt if the power source fails. Electric braking and control need additional tools to be accomplished.
These factors may limit the global market's growth for railway traction inverters. Additionally, it is anticipated that the increased popularity of railway traction inverters in developing countries may constrain the market's growth during the forecast period.
In terms of revenue share, the Asia Pacific region led the global market in 2022. Due to the growing need for new passenger trains, the rail lines in developing nations are expanding, which is contributing to the growth of the railway traction inverter market. The vast rail networks of India and China are expected to benefit the most from lucrative growth prospects in the tramway traction inverter market.
Importantly, the largest rail systems in the world are found in China and India. The principal means of transportation for long distances in India is the passenger or mainline railway, and as the nation's infrastructure improves, demand for additional trains is expected to increase. Expanding economic pillars will subsequently drive the railway traction inverter market throughout the course of the estimated timeframe.
Due to expanding metro-line and high-speed train developments in the area, Japan is also noted with a considerable market share among developed areas for railway traction inverters. Throughout the coming years, healthy growth is anticipated in North America and Europe. Additionally, Latin American nations are expected to see favorable economic development.
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Key players operating in the Railway Traction Inverter market include Key players operating in Railway Traction Inverter market include Voith GmbH & Co. KGaA, Mitsubishi Electric Corporation, American Traction Systems, Simatex AG, Hitachi, Ltd. Toshiba Corporation.
The key players in the global market are focusing on improving their capabilities and resources to meet the rising demand for Railway Traction Inverter by opening new production facilities in the targeted market. To increase their visibility and assets, the major players are also implementing joint venture and partnership plans into practice.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Technology Type, Train Type, Capacity, Sale Channel, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ANEAN, Australia and New Zealand, GCC Countries, South Africa, Northern Africa, Turkey |
| Key Companies Profiled | Voith GmbH & Co. KGaA; Mitsubishi Electric Corporation; American Traction Systems; Simatex AG; Hitachi, Ltd.; Toshiba Corporation; Medcom; Alstom; Albiero Medha Power srl |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Railway Traction Inverter market reached over US$ 3,144.2 Million.
During the forecast period, the Railway Traction Inverter market is estimated to expand at a CAGR of 5.8% from 2022 to 2032.
The Railway Traction Inverter market is projected to reach US$ 6,754.2 Million by the end of 2032.
China is projected to lead the East Asia Railway Traction Inverter market in the forecast period.
The key players operating in the Railway Traction Inverter market are Voith GmbH & Co. KGaA, Mitsubishi Electric Corporation, American Traction Systems, Simatex AG, and, Hitachi, Ltd.
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Railway Traction Inverter Market
