“The North America traction transformer market is projected to grow at a CAGR of 9.4% from 2014 to 2019. In this report, the North America traction transformer market is segmented on the basis of type, voltage range, application, and geography. The rectifier transformers segment is progressing at a CAGR of 13.1% during the forecast period. They are used in industrial applications such as electrolysis process for aluminum or chemical ones for zinc, copper, or chlorine.
The traction transformer market in North America is driven by the increase in electrification of railways and high deployment of high speed trains in this region. Also the enhancement in the government spending in rail infrastructure is fostering the growth of the North America traction transformers market.
Geographically, North America is estimated to command a market share of 11.8% of the global traction transformer market. Factors driving the growth of traction transformers in North America are the increasing use of traction transformers in applications such as rail electrification, owing to the liberalization of rail transport market in North America.
As of 2014, the North America traction transformers market has been dominated by top market players such as ABB Ltd., (Switzerland) and Alstom (France). New product launches and partnerships, agreements, collaborations, and joint ventures are considered as major strategies adopted by market players to achieve growth in the traction transformers market.
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