The global traction equipment market was valued at $300.1 million in 2021, and is projected to reach $390.7 million by 2031, growing at a CAGR of 2.8% from 2022 to 2031.
Traction may be defined as the force derived from the interaction between a device and a medium that can be used to facilitate a desired motion over the medium. The traction device converts rotary motion derived from an engine into useful linear motion. In addition, according to American society of agricultural and biological engineers, the devices such as winch sprags are exceptions to the traction equipment, but they are traction devices since they provide traction by interacting with a medium-usually soil. The traction in transport system is used to operate in off-road conditions and are used in the wheels and tracks-that is, parts of vehicles rather than complete vehicles such as tractors. In addition, nowadays traction system is the main features of SUV and MUV cars. The number of off -the-road vehicles is rapidly increasing for agriculture, military, construction and for domestic purposes. The total engine power available for conversion into useful pull is generally in excess of the traction capacity that can be developed between the traction device and the soil. Moreover, the limitations of the vehicle in respect to off-the road movement are usually the limitations of the traction device. Furthermore, the efficiency with which a traction device converts energy into pull is usually extremely poor when the device is operating on soil. Moreover, according to National Tillage Machinery Laboratory, the pneumatic tire operating on a concrete surface has an average power efficiency of approximately 75%. The same tire operating on various soils has an average efficiency of less than 50 percent. Furthermore, according to Nebraska Tractor Test Laboratory, the pneumatic tired tractors operating on concrete lose approximately 5 percent more in thermal efficiency when the useful work output is expended through the drawbar than when it is expended through the power takeoff. However, the loss in thermal efficiency on soil will be even greater. With the use of traction equipment, there is minimum loss in thermal efficiency.
Traction equipment market are highly used in electrical, automotive, railway railways, aerospace and defense. In addition, rise in demand for automobiles across the globe and rapid expansion of traction technology in vehicles led to introduce the traction features in automobiles, which lead to increase in demand for traction equipment, which act as the major driving factor for the market. Moreover, rising defense investments by developed and developing nations also act as major opportunity factor for the market.
The global traction equipment market is segmented on the basis of type, application, and region. Depending on type, the market is categorized into traction transformers, traction converters, traction motors & generators and others (inverters and cable protection (PMA)). On the basis of application, it is divided into railway, marine, industrial equipment, electrical vehicles and others (aerospace and military). Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The global traction equipment market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include ABB, Alsrom SA, American traction systems, Bombardier Inc., Caterpillar Inc., Crompton Greaves Limited, Siemens AG, General Electric Company, Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, VEM Group, Toshiba International Corporation and TTM Railway- Transtech Melbourne Pty Ltd.
Traction may be defined as the force derived from the interaction between a device and a medium that can be used to facilitate a desired motion over the medium. The traction device converts rotary motion derived from an engine into useful linear motion. In addition, according to American society of agricultural and biological engineers, the devices such as winch sprags are exceptions to the traction equipment, but they are traction devices since they provide traction by interacting with a medium-usually soil. The traction in transport system is used to operate in off-road conditions and are used in the wheels and tracks-that is, parts of vehicles rather than complete vehicles such as tractors. In addition, nowadays traction system is the main features of SUV and MUV cars. The number of off -the-road vehicles is rapidly increasing for agriculture, military, construction and for domestic purposes. The total engine power available for conversion into useful pull is generally in excess of the traction capacity that can be developed between the traction device and the soil. Moreover, the limitations of the vehicle in respect to off-the road movement are usually the limitations of the traction device. Furthermore, the efficiency with which a traction device converts energy into pull is usually extremely poor when the device is operating on soil. Moreover, according to National Tillage Machinery Laboratory, the pneumatic tire operating on a concrete surface has an average power efficiency of approximately 75%. The same tire operating on various soils has an average efficiency of less than 50 percent. Furthermore, according to Nebraska Tractor Test Laboratory, the pneumatic tired tractors operating on concrete lose approximately 5 percent more in thermal efficiency when the useful work output is expended through the drawbar than when it is expended through the power takeoff. However, the loss in thermal efficiency on soil will be even greater. With the use of traction equipment, there is minimum loss in thermal efficiency.
Traction equipment market are highly used in electrical, automotive, railway railways, aerospace and defense. In addition, rise in demand for automobiles across the globe and rapid expansion of traction technology in vehicles led to introduce the traction features in automobiles, which lead to increase in demand for traction equipment, which act as the major driving factor for the market. Moreover, rising defense investments by developed and developing nations also act as major opportunity factor for the market.
The global traction equipment market is segmented on the basis of type, application, and region. Depending on type, the market is categorized into traction transformers, traction converters, traction motors & generators and others (inverters and cable protection (PMA)). On the basis of application, it is divided into railway, marine, industrial equipment, electrical vehicles and others (aerospace and military). Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The global traction equipment market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include ABB, Alsrom SA, American traction systems, Bombardier Inc., Caterpillar Inc., Crompton Greaves Limited, Siemens AG, General Electric Company, Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, VEM Group, Toshiba International Corporation and TTM Railway- Transtech Melbourne Pty Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the traction equipment market analysis from 2021 to 2031 to identify the prevailing traction equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the traction equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global traction equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Traction Transformers
- Traction Converters
- Traction Motors and Generators
- others
By Application
- Railways
- Marine
- Industrial Equipments
- Electrical Vehicles
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- ABB Ltd.
- Alstom SA
- American Traction Systems
- Bombardier Inc.
- Caterpillar Inc.
- Crompton Greaves Limited
- Siemens AG
- General Electric Company
- Kawasaki Heavy Industries Ltd
- MITSUBISHI ELECTRIC CORPORATION
- VEM Group
- Toshiba International Corporation
- TTM Rail - Transtech Melbourne Pty Ltd.
- Medha Servo Drives Private Limited
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: TRACTION EQUIPMENT MARKET, BY TYPE
CHAPTER 5: TRACTION EQUIPMENT MARKET, BY APPLICATION
CHAPTER 6: TRACTION EQUIPMENT MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Traction Equipment Market," the traction equipment market size was valued at $300.1 million in 2021, and is estimated to reach $390.7 million by 2031, growing at a CAGR of 2.8% from 2022 to 2031.Traction is the adhesive friction of a body on a surface on which it moves or it is the drawing of a vehicle by motive power. In addition, traction is used on electrification systems around the world. However, equipment used in the traction are known as traction equipment. In addition, the main application of traction equipment is used in the railway, automobiles, aerospace and defense. Moreover, traction equipment provides the necessary traction power to move the train is referred as the traction or locomotive. This traction power can be diesel, steam or electric power. The traction system can be classified as non-electric and electric traction systems. According to the American Society of Agricultural and Biological Engineers (ASABE Standards, 2018), there are two types of surface contact devices associated with the motion of a vehicle: traction devices and transport devices. A traction device receives power from an engine and uses the reactions of forces from the supporting surface to propel the vehicle, while a transport device does not receive power, but is needed to support the vehicle on a surface while the vehicle is moving over that surface. Wheels, tires, and tracks can be traction devices if they are connected to an engine or other power source; if not connected, they are transport devices.
The simplest way of analyzing the traction produced by a traction device, such as a wheel or track, is to consider friction forces that act at the contact between a traction device and the surface when the system is in equilibrium. For simplification the machine is assumed to be moving at a constant velocity on a non-variable surface. A traction device (hereafter simplified to the most common implementation as a “wheel”) has two main functions: to support the load acting on the wheel axle and to produce a net tractive force. The force is generally called the dynamic load acting on the wheel. The dynamic load depends on how the weight of the tractor at that point in time is distributed to each wheel.
The global traction equipment market forecast is segmented on the basis of Type, Application, and region. Depending on type, the market is categorized into traction transformers, traction converters, traction motors & generators and others (Inverters and Cable protection (PMA)). On the basis of application, it is divided into railway, marine, industrial equipment, electrical vehicles and others (Aerospace and Military). Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The global traction equipment market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include ABB, Alsrom SA, American traction systems, Bombardier Inc., Caterpillar Inc., Crompton Greaves Limited, Siemens AG, General Electric Company, Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, VEM Group, Toshiba International Corporation and TTM Railway- Transtech Melbourne Pty Ltd.
The global traction equipment market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2021-2031. The report includes the study of the market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the global traction market growth.
Impact of COVID-19 outbreak on the market
The COVID-19 pandemic has curtailed the movement of people, goods and applications worldwide, including in most of the regions in which has production of traction equipment market on large scale. As part of intensifying efforts to contain the spread of COVID-19, a number of local, state and national governments have imposed various restrictions on the conduct of business and travel, such as stay-at-home orders and quarantines that have led to a significant number of business slowdowns and closures. The COVID-19 pandemic has resulted in, and is expected to continue to result in a substantial curtailment of business activities (including the decrease in demand for a broad variety of goods and applications), weakened economic conditions, supply chain disruptions, significant economic uncertainty and volatility in the financial and commodity markets, including the reduction in global demand for traction system.
The manufacturing of traction equipment market was stopped for a specific period of time due to high peak of covid1-19 situation which led to highly impact the sales of traction equipment market.
Sales of traction equipment market is directly proportional to the demand of automobiles. Automobiles have been negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in sales in 2021. However, the demand of traction equipment system was negatively impacted during the lockdown.
Key Findings
On the basis of type, the traction motors and generators segment emerged as the global leader in 2021 and is anticipated to be the largest markets during the forecast period.On the basis of application, the railway segment emerged as the global leader in 2021 and is anticipated to be the largest markets during the forecast period.
On the basis of region, Asia-Pacific registered the highest market share and is projected to maintain the same during the forecast period.
Companies Mentioned
- Abb Ltd.
- Alstom Sa
- American Traction Systems
- Bombardier Inc.
- Caterpillar Inc.
- Crompton Greaves Limited
- Siemens AG
- General Electric Company
- Kawasaki Heavy Industries Ltd
- Mitsubishi Electric Corporation
- Vem Group
- Toshiba International Corporation
- Ttm Rail - Transtech Melbourne Pty Ltd.
- Medha Servo Drives Private Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 270 |
| Published | August 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 300.1 million |
| Forecasted Market Value ( USD | $ 390.7 million |
| Compound Annual Growth Rate | 2.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
