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New Analysis from Global Industry Analysts Reveals Steady Growth for Traction Equipment, with the Market to Reach 1.3 Million Units Worldwide by 2026
SAN FRANCISCO, Sept. 16, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Traction Equipment - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Pool: 15781
Companies: 47 - Players covered include ABB Ltd.; Alstom SA; American Traction Systems; Bombardier, Inc.; Caterpillar, Inc.; CG Power and Industrial Solutions Ltd.; General Electric Company; Kawasaki Heavy Industries Ltd.; Mitsubishi Electric Corporation; Siemens AG; Toshiba International Corporation; TTM Rail - Transtech Melbourne Pty. Ltd.; VEM motors GmbH and Others.
Coverage: All major geographies and key segments
Segments: Equipment Type (Traction Transformer, Traction Motor, Traction Converter)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Traction Equipment Market to Reach 1.3 Million Units by 2026
Amid the COVID-19 crisis, the global market for Traction Equipment estimated at 1.1 Million Units in the year 2020, is projected to reach a revised size of 1.3 Million Units by 2026, growing at a CAGR of 1.9% over the analysis period. Traction Transformer, one of the segments analyzed in the report, is projected to record a 2.8% CAGR and reach 152.7 Thousand Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Traction Motor segment is readjusted to a revised 1.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at 332.7 Thousand Units in 2021, While China is Forecast to Reach 196.8 Thousand Units by 2026
The Traction Equipment market in the U.S. is estimated at 332.7 Thousand Units in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 196.8 Thousand Units by the year 2026 trailing a CAGR of 3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.4% and 1.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.
Traction Converter Segment to Reach 119.6 Thousand Units by the year 2026
In the global Traction Converter segment, USA, Canada, Japan, China and Europe will drive the 2.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of 77.6 Thousand Units in the year 2020 will reach a projected size of 92 Thousand Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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