Global Locomotive Market, By Operational Engine (Station Pilot, Banking Engine, Pilot Engine, Others), Technology (IGBT Power Module, GTO Thyristor Module, SiC Power Module), Locomotive Technology (Turbocharged, Maglevs, Conventional Locomotive), Motive Power (Gas Turbine Electric, Steam Diesel Hybrid, Diesel, Atomic Electric, Steam, Fuel Cell Electric, Electric, Gasoline, Hybrid), Components (Traction, Inverter, Alternator, Rectifier, Auxiliary Power Conversion Unit), Rolling Stock Type (DMU, EMU, Diesel & Electric Locomotive), Application (Passenger, Freight, Switcher Locomotives), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Locomotive Market
Locomotive market will grow at a CAGR of 2.74% in the forecast period of 2021 to 2028. Increase in urbanization is an essential factor driving the 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 that 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 is a crucial factor accelerating the market growth, also rising demand for advanced power components and modernization in the market leading to lower weight locomotives, rise in demand for rolling stock that is energy efficient, continuous expansion of rail networks infrastructure, rising technological progress such as launch of the SiC module, IGBT module and the auxiliary power units and rising traffic congestion are the major factors among others boosting the locomotive market. Moreover, rising population, enhancing economies of developing countries, rising growth in industrial and mining activities, and increasing technological upgradation in locomotives, including e-mobility technology and data-driven maintenance services will further create new opportunities for locomotive market in the forecast period mentioned above.
However, increasing requirement of large capital funding for the integration and establishment as well as maintenance of railway services is the vital factor among others which will curtail the market growth, and will further challenge the locomotive market in the forecast period mentioned above.
This locomotive market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on locomotive market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Locomotive Market Scope and Market Size
Locomotive market is segmented on the basis of operational engine, technology, locomotive technology, motive power, components, rolling stock type and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of operational engine, the locomotive market is segmented into station pilot, banking engine, pilot engine and others. Others have been further segmented into train engine and light engine.
- Based on technology, the locomotive market is segmented into IGBT power module, GTO thyristor module and SiC power module.
- Based on locomotive technology, the locomotive market is segmented into turbocharged, maglevs and conventional locomotive.
- Based on motive power, the locomotive market is segmented into gas turbine electric, steam diesel hybrid, diesel, atomic electric, steam, fuel cell electric, electric, gasoline and hybrid.
- Based on components, the locomotive market is segmented into traction, inverter, alternator, rectifier and auxiliary power conversion unit.
- Based on rolling stock type, the locomotive market is segmented into DMU, EMU and diesel & electric locomotive.
- The locomotive market is also segmented on the basis of application into passenger, freight and switcher locomotives.
Global Locomotive Market Scope Country Level Analysis
Locomotive market is analysed and market size, volume information is provided by country, operational engine, technology, locomotive technology, motive power, components, rolling stock type and application as referenced above.
The countries covered in the locomotive market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the locomotive market due to improving socio-economic conditions in emerging economies such as China, India, and Japan, rising number of government projects such as extension of rail routes, rise in production of rolling stock, advanced rail infrastructure, and the replacement of power conversion systems for better efficiency in this region.
The country section of the locomotive market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Locomotive Market Share Analysis
Locomotive market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to locomotive market.
The major players covered in locomotive market report 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, KONCAR - 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. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.