Market Analysis: Global Locomotive Market
Global locomotive market is expected to register a steady CAGR of 2.79% in the forecast period of 2019-2026. This rise in market value can be attributed to the rise in the levels of expenditure on the advancements modernization of railway systems globally, also high levels of government expenditure to improve and develop rail transport systems for public conveyance.
Market Definition: Global Locomotive Market
Locomotives can be defined as an engine of railway vehicles which is the power source for their movements, although they are also capable of carrying the payload which is more preferable rather than having an individual locomotive attached to different rail vehicles that cannot move by themselves. These systems are generally preferred in passenger rail transport systems rather than freight.
- Rise in the demand for fuel efficient among growing concerns for the environment; this factor is expected to positively affect the growth of the market
- Increased demand for advanced power components and modernization in the market leading to lower weight locomotives is expected to positively affect the growth of the market
- High levels of urbanization leading to enhanced adoption of railway services globally is expected to drive the market growth
- Requirement of large capital funding for the integration and establishment as well as maintenance of railway services are factors restraining the growth of the market
Segmentation: Global Locomotive Market
- Insulated-Gate Bipolar Transistor (IGBT) Power Module
- Gate Turn-Off (GTO) Thyristor Module
- Silicon Carbide (SiC) Power Module
By Locomotive Technology
- Conventional Locomotive
By Motive Power
- Gas Turbine Electric
- Steam Diesel Hybrid
- Atomic Electric
- Fuel Cell Electric, Electric
- Auxiliary Power Conversion Unit
By Rolling Stock Type
- Diesel Multiple Unit (DMU)
- Electric Multiple Unit (EMU)
- Diesel & Electric Locomotive
- Switcher Locomotives
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In February 2019, Wabtec Corporation announced that they had completed the merger with GE Transportation. This merger establishes Wabtec as a global leader in transportation & logistics products and services providing the highest levels of modernized & advanced levels of equipments and components.
- In December 2018, A. Stucki Company announced that they had acquired Savage Fueling Corp. The acquisition will help in expansion of locomotive services of A. Stucki Company where Savage Fueling Corp. will continue to operate with the same management & employees although the name will be changed to Velocity Rail Solutions.
Competitive Analysis: Global Locomotive Market
Global locomotive market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of locomotive market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Locomotive Market
Few of the major competitors currently working in the locomotive market are Strukton; Alstom; AEG Power Solutions B.V.; Siemens; TOSHIBA CORPORATION; CRRC; Hitachi, Ltd.; Bombardier; Bharat Heavy Electricals Limited; Wabtec Corporation; Metso Corporation; Brookville Equipment Corporation; Materfer; KONČAR - Electronics and Informatics Inc.; A. Stucki Company; UGL Rail; Tata Motors; Kawasaki Rail Car, Inc.; HYUNDAI ROTEM COMPANY; Taiwan Rolling Stock Co, Ltd. and Stadler Rail AG.
Research Methodology: Global Locomotive Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved