Traction equipment serves as a propulsion system, making it useful in  pulling or drawing vehicles. The demand for traction equipment is significantly growing on account of the high demand from railway transportation sector. Countries across the globe are trying to modernize and develop their railway networks owing to the growing economies and population, which create a heightened demand for mass transportation. The growing presence of electrified rail lines and locomotives will drive the  ... Read more

The global traction equipment market is considerably fragmented due to the presence of numerous players in the market. Transparency Market Research (TMR) has found that this market is highly technology-centric and only the companies with efficient and effective products can sustain in the highly competitive nature of the market. The degree of competition is anticipated to remain intense over the forthcoming years due to escalating demand for traction equipment from emerging markets. ... Read more