Traction Equipment Market - Global Industry Analysis; Latest Research Report 2016 - 2024 by Transparency Market Research

Transparency Market Research, July 28, 2016 /PRNewswire/ --

ABB Ltd. is the clear leader in an otherwise fragmented traction equipment market. The company accounted for nearly a quarter of the market in 2014 and has a strong presence in the Americas, Europe, and RoW. The global traction equipment market is immensely capital-intensive and technology-driven and Transparency Market Research believes that technological advancements and brand creation are the best options for players to enhance their market share.

Other players operating in the traction equipment market include Siemens AG, Crompton Greaves Limited, Mitsubishi Electric Corporation, Alstom SA, General Electric Company, Bombardier Inc., American Traction Systems, VEM Group, Toshiba International Corporation, Caterpillar Inc., TTM Rail - Transtech Melbourne Pty Ltd., and Kawasaki Heavy Industries, Ltd.

A number of emerging economies in Asia Pacific present lucrative options for players in the traction equipment market and several companies have been capitalizing on this opportunity in the recent past," the lead author of the study states.

A case in point would be Alstom SA, which has strengthened its footprint in China's blossoming railway sector. Under the joint venture Shanghai Alstom Transport Electrical Equipment Co. Ltd, the company has supplied traction equipment not just for the Shanghai metro line but also the Nanjing metro line since 2014.

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Development and Expansion of Railway Networks Sole Driving Force 

"The global market for traction equipment is entirely dependent on the growth of the railway sector and investments in railways networks globally will impact the demand for traction equipment," a lead analyst at TMR states. The surge in investments, the development and expansion of railway networks in countries such as the U.S., India, China, South Africa, and Spain, and the increase in favorable policies and regulations to curb emissions from transportation are the factors that have driven the demand for traction equipment thus far.