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South Korea Traction Transformer Market
South Korea’s Traction Transformer Market is experiencing growth as the country continues to invest in its rail infrastructure and modernize its transportation systems. Traction transformers are critical components in electric rail systems, responsible for converting high-voltage electricity into a suitable form for traction motors. South Korea’s emphasis on expanding and upgrading its high-speed rail network, along with its metropolitan transit systems, is driving the demand for advanced traction transformers.
The South Korean government’s focus on smart transportation solutions and sustainable development further supports the market, as new technologies are integrated into rail systems to enhance efficiency and reliability. The market is characterized by a strong presence of both domestic and international manufacturers, who are investing in research and development to produce cutting-edge transformers with improved performance and energy efficiency. As South Korea continues to advance its rail infrastructure and embrace innovative technologies, the traction transformer market is expected to experience sustained growth.
Traction transformers are essential components of electric traction systems, which are used to power trains, trams, and other electric vehicles. They convert the high voltage electricity from the overhead power lines to a lower voltage that is suitable for the traction motors.
The traction transformer market is expected to grow at a CAGR of 6.35% during the forecast period 2024-2032.
The many sorts of improvements in various transportation systems, including buses, trains, vehicles, and the most recent motorcycles, might be used for a variety of public commuting, making it simple to commute. The latest generation metros are relatively safe and cost-effective because they operate on pre-defined and pre-specified routes, which eliminates the chance of accidents.
Innovative elements have raised the demand for metros in big or prime cities around the world as a result of this. As a result, the Indian government is implementing generic intercity metro services in key metro and large cities such as Pune, Coimbatore, Surat, Kanpur, Patna, and Guwahati to alleviate traffic congestion and improve basic public transportation.
Key Players
- Xylem (US)
- KSB Group (Germany)
- Flowserve Corporation (US)
- EBARA CORPORATION (Japan)
- Tsurumi Manufacturing Co. Ltd. (Japan)
- The Gorman-Rupp Company (US)
- Atlas Copco AB (Sweden)
- The Weir Group PLC (UK)
- Sulzer Ltd. (Switzerland), among others
Market Segmentation
Based on the type, the global traction transformer market is segmented into overhead line voltage, various mounting positions, and different rolling stock.
Based on the division of type, the global traction transformer market has been segmented into tap changing and rectifier.
Based on the concept of the mounting position, the global traction transformer market has been segmented into various underframes, various machine rooms, and advanced roofs.
Based on the rolling stock, the global traction transformer market has been segmented into the latest electric locomotives, various high-speed trains, and metros.
Based on the region, the global traction transformer market has been segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Regional Classification
As a result of multiple distribution channels, Asia Pacific is expected to be the largest contributor. Furthermore, due to increased investment, Australia and China are expected to rise rapidly in the Traction Transformer Markets. There has also been an increase in demand in important developing countries, such as India and China, which are expected to lead growth in various Asia-Pacific markets. Due to the presence of major global companies in this area as well as significant technological improvement, Asia Pacific is leading the Traction Transformer Markets.
Traction transformers are mostly utilized at a greater scale in the railway sector to power modern electric locomotives. Traction transformers convert electric power supplied by the main power company to a suitable voltage level for powering the train engine's different traction motors and other important auxiliaries. The basic traction transformer is designed to convert high voltage AC to low voltage DC, which is then sent directly to the rectifier to power the DC traction motors in the center.
Industry News
The Natural Cooling Effilight Railway electrification and the RESIBLOC CRAIL 25 kV are two new traction transformers from Hitachi ABB Power Grids. Both of these devices are based on the company's successful and well-proven platforms, Effilight for liquid-filled traction transformers and RESIBLOC for dry traction transformers. These will assist customers in enhancing reliability and lowering operational costs by providing fresh, added value.
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