Traction systems, or propulsion systems in rail networks, are used to draw or pull the train across the track. A lot of nations are showing a relatively stable rate of demand for traction equipment, owing to a stable rail network. This does not, however, imply that the demand has stagnated. Being instruments that experience heavy wear and tear, there is a constant need for replacement of existing traction equipment. This can happen in the older system is irreparable, or has become too dated to use.
Browse the full Global Traction Equipment Market Report:http://www.mrrse.com/traction-equipment-market
The global traction equipment market is expected to reach a volume of 1.3 mn units by 2024. It was calculated at 1.1 mn units and this volume is projected to expand at a rather sluggish CAGR of 2.09% from 2016 to 2024.
Which Regions are Showing Better Demand for Traction Equipment?
The global demand for traction equipment is not spread uniformly across all regions, in the sense that different regions are showing a different scale of demand owing to their current needs. The one consistent factor across all regions is population: with the rapid increase in population in all regions, the need for transportation and transit has increased sharply. This effect is much more visible in nations such as China and India, over several nations from Europe.
There are still, however, commonalities in the type of demand. For instance, Spain and China are both focusing on the development of high-speed rail networks. The U.S. and India on the other hand are doubling up on their efforts to increase the number of electrified lines and networks. Countries such as the U.K., Germany, and Brazil are more intent on the modernization of their existing fleets.
How Big a Role is Equipment Upgrading Playing in the Global Traction Equipment Market?
The demand for upgrading existing rail networks is currently the leading driver acting on the global traction equipment market. Asia Pacific in 2015 was the leading revenue generator for traction equipment players, and a large chunk of this revenue was generated in the upgrading of rail network systems. A lot of key regions in the world are doing the same, and players in the global traction equipment market are benefitting from the demand for these upgrades. The process of upgrading rail network equipment is also being carried out strongly in Europe, which is the oldest regional market for rail equipment.
The global traction equipment market is also benefitting from the massive expansion projects carried out by Asia Pacific governments. This region will continue to be highly attractive for traction equipment manufacturers for a long time
Browse the full Press Release of Global Traction Equipment Market at http://www.mrrse.com/global-traction-equipment-market
Will Traction Motors Continue to be as Popular as They Have Been?
In 2015, traction motors took up a massive share of 80% in terms of volume. By higher preference and better options, traction motors are expected to stay the leading equipment type in the global traction equipment market till 2024. Traction motors are usable in both diesel as well as electric trains. Additionally, the leading providers of traction motors in the world – Siemens and ABB, Ltd. – offer their customers a high range of customizability to suit their unique requirements in both locomotives as well as traction substations. Owing to these factors, traction motors are expected to remain in the leading position in terms of popularity among all traction equipment types.