The global traction transformer market was valued at US$540.50 Mn in 2018 and is expected to reach 750.80 Mn by 2026 at a CAGR of 4% over the forecast period. The traction transformer market demand is driven primarily by advances in rail infrastructure around the world. Governments of each country are taking the lead in improving the railway infrastructure and starting new businesses such as high-power high-speed trains. In addition, the rapid electrification of rail networks worldwide and the increasing use of railroads is another factor driving demand for the traction transformer market. However, the complexity of the design and the high cost of the system are factors hindering the growth of the traction transformer market to some extent.
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Traction Transformer Market Segments:
By Sensors Type
• Inductive Loops
• Piezoelectric Sensors
• Image Sensors
• Infrared Sensors
• Lidar Sensors
• Radar Sensors
• Magnetic Sensors
• Acoustic Sensors
• Thermal Sensors
• Bending Plates
By Application
• Vehicle Measurement and Profiling
• Weigh in Motion (WIM)
• Traffic Monitoring
• Automated Tolling (E-Toll)
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