Railway traction inverter works on a wide component for transforming an electric energy in a way that it gets converted into power and then eventually in motion. This inverter helps to minimize switching and conduction losses at low and high currents, which allow maximization of rail acceleration and driving range. It is used to convert kinetic energy into electric to charge the battery of the vehicle, which helps to replace old engines equipped with fuel into pollution-free and an ecofriendly environment. However, increase in demand for fast railways and metros drives the railway traction inverter market.
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COVID-19 scenario analysis:
- COVID-19 has rapidly affected the railway industry, thus hampering the growth of the railway traction inverter market.
- Earlier, this market was expected to register a significant growth in 2021, but due to COVID-19, the market is expected to decline in the near future until the situation becomes stable.
- Industries are facing slower production due to lockdown and low demand. This is expected to eventually close down all the processes.
- Due to non-operation of railways, many companies have stopped their production, which led to decline in the growth of the railway traction inverter market.
- COVID-19 has stopped the expansion of the railway industry, which has declined the growth of the railway traction inverter market.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Top impacting factors for the growth of the railway traction inverter market are increase in demand for metros &high-speed trains and development of infrastructure. Moreover, high cost and lack of medical reimbursement hamper the growth of the market. Furthermore, rapid increase in population and infrastructure for growth of railway networks provide lucrative opportunities for the railway traction inverter market.
Increase in demand for metros & high-speed trains
With increase in demand for mobility solutions, there is rise in demand for metros and high-speed trains. Therefore, governments are planning to expand railway networks. Furthermore, increase in government expenditure on railways drives the railway traction inverter market.
Development of infrastructure
Continuous developments in railway infrastructure and better mobility solutions for travelers to reach their destinations safely & on time have initiated governments to develop the traction inverter market. This is estimated to allow maximization of rail acceleration &driving range and promote the growth of the railway traction inverter market.
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Key benefits of the report:
- This study presents the analytical depiction of the railway traction inverter market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the railway traction inverter market share.
- The current market is analyzed from 2020 to 2027 to highlight the railway traction inverter market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the railway traction inverter market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Railway Traction Inverter Market Report Highlights
| Aspects | Details |
| By Type | Less than 1 MW Equal to 1 MW More than 1 MW |
| By Application | Original Equipment Manufacturer Aftermarket |
| By Region | North America (US, Canada) Europe (Germany, UK, France, rest of Europe) Asia-Pacific (China, Japan, India, rest of Asia-Pacific) Latin America (Brazil, Mexico, rest of LATAM) the Middle East Africa |
| Key Market Players | Alstom, Simatex AG, Toshiba Corporation, Voith GmbH & Co KGaA, American Traction Systems, Medcom, Albiero Medha Power srl, Mitsubishi Electric Corporation, Hitachi Ltd. |
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