The market for traction equipment is very centred on technology and is highly fragmented. Due to the ongoing demand for traction equipment, particularly from emerging markets, the level of competition is expected to remain high during the forecast period, despite the fact that only businesses that can provide cost-effective and high-efficiency products can sustain themselves in this market.
The surge in investments in the expansion of railway networks across both developing and developed economies is responsible for the global rise in demand for mass transit. Locomotives are propelled by traction equipment, and nations like China, India, the United States, and Germany have been exhibiting an increased demand for the same.
The global traction equipment market has been divided into four geographic segments: North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific had a share of about 41% in 2018 in terms of both revenue and volume, and it has become the main source of income. It is anticipated that the region will continue to be one of the most alluring markets for traction equipment. The significant growth of trade and the swiftly expanding economies have helped to expand this market. Under the Silk Road Economic Belt project, China is constructing a significant transcontinental cargo rail service, which is likely to increase China’s trade with European nations. India recently disclosed its plans to invest US$137 billion in the electrification of its current railway network.Australia is working to increase the number of intercity trains and light rail transit systems. The market for traction equipment in APAC has grown over time as a result of the increased focus on developing and modernising railway networks and systems.
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Key players in the global Traction Units market
Trulife
Chinesport
Chattanooga International
Axis Medical and Rehabilitation
Zynex Medical
Nuovalaris
Bird & Cronin
Fysiomed
Enraf-Nonius
Everyway Medical Instruments Co.,Ltd.
Dr. Med
Johari Digital Healthcare Ltd.
Ito
Huntex Corporation
PHS Chiropractic
BTL International
Alexandave Industries
on the basis of types, the Traction Units market
Cervical
Lumbar
Others
on the basis of applications, the Traction Units market
Hospital
Rehabilitation Center
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2015-2025) of the following regions
North America
United States
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Russia
Others
Asia-Pacific
China
Japan
South Korea
Australia
India
South America
Brazil
Argentina
Columbia
Middle East and Africa
UAE
Egypt
South Africa
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