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In 2023, the worldwide market for locomotives was estimated to be worth $8.73 billion. The market is expected to increase at a CAGR of 7.73% between 2022 and 2029, from $8.97 billion to $14.91 billion. Demand for locomotives is lower than expected in all regions because to the unprecedented and disastrous global COVID-19 outbreak. Our research shows that international sales fell by -7.68 percent in 2020 compared to 2019. The locomotive, a special kind of train car, is the engine that propels the rest of the train. This railway vehicle is self-sufficient, producing its own power by combustion or electrical means (such as magnetic levitation). Its primary function is to propel or tow other railcars, facilitating the global movement of commodities and people.
Report Coverage
Global Locomotive research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Locomotive report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Locomotive competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Locomotive market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
The increased population makes it more challenging to move people and goods around, which in turn increases traffic and car pollution. As a result, rail transit is increasingly relied upon for regular intra- and intercity commutes. In addition, taking the train as part of a large group is a more economical and time-saving option.
In China, for instance, an estimated 2.61 billion people took the train to work in 2021. When compared to the projected number of commuters in 2020 of 2.53 billion, this figure is 18.5% higher. As a result, rising ridership will fuel the locomotive industry during the next few years. Profitable demand for rail network expansion is also created by the growth of urban and metropolitan areas. More routes mean more need for locomotives to meet diverse transportation requirements. Many national and regional governments are also devoting significant resources to developing railways that will propel the market.
CAUSES OF RESTRICTIONS
Railway networks are expensive to build and maintain because of their size and importance as a means of transportation. Locomotive engines, together with the money needed to keep them running, take up a sizable chunk of the budget. The average cost of a conventional diesel locomotive engine, for instance, is anywhere between $0.5 million and $2 million. However, the cost of an electric locomotive can exceed $6,000,000. Because of this, the market is constrained by the price of the locomotive. Six enormous electric traction motors are powered by an alternator cranked by diesel in a new hybrid diesel electric locomotive engine. The capital cost is inflated by the necessity of an elaborate infrastructure to support the operation of the locomotives on the rails. Because of the high-priced nature of the system as a whole, locomotive engines tend to be quite pricey.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Locomotive market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Locomotive market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
• TMH
• CRRC
• Wabtec Corporation
• Alstom
• Siemens Mobility
• Sinara
• Stadler
• Hitachi
• Hyundai Corporation
• Toshiba International Corporation
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Locomotive market based on the below-mentioned segments:
Global Locomotive Market, By Propulsion Type
Global Locomotive market, By Technology
Global Locomotive Market, By End Use
Global Locomotive Market, By Component
Global Locomotive market, Regional Analysis
Report Coverage
Global Locomotive research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Locomotive report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Locomotive competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Locomotive market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
The increased population makes it more challenging to move people and goods around, which in turn increases traffic and car pollution. As a result, rail transit is increasingly relied upon for regular intra- and intercity commutes. In addition, taking the train as part of a large group is a more economical and time-saving option.
In China, for instance, an estimated 2.61 billion people took the train to work in 2021. When compared to the projected number of commuters in 2020 of 2.53 billion, this figure is 18.5% higher. As a result, rising ridership will fuel the locomotive industry during the next few years. Profitable demand for rail network expansion is also created by the growth of urban and metropolitan areas. More routes mean more need for locomotives to meet diverse transportation requirements. Many national and regional governments are also devoting significant resources to developing railways that will propel the market.
CAUSES OF RESTRICTIONS
Railway networks are expensive to build and maintain because of their size and importance as a means of transportation. Locomotive engines, together with the money needed to keep them running, take up a sizable chunk of the budget. The average cost of a conventional diesel locomotive engine, for instance, is anywhere between $0.5 million and $2 million. However, the cost of an electric locomotive can exceed $6,000,000. Because of this, the market is constrained by the price of the locomotive. Six enormous electric traction motors are powered by an alternator cranked by diesel in a new hybrid diesel electric locomotive engine. The capital cost is inflated by the necessity of an elaborate infrastructure to support the operation of the locomotives on the rails. Because of the high-priced nature of the system as a whole, locomotive engines tend to be quite pricey.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | TMH, CRRC, Wabtec Corporation, Alstom, Siemens Mobility, Sinara, Stadler, Hitachi, Hyundai Corporation, Toshiba International Corporation |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Locomotive Market from 2021 to 2030.
- Market Forecast for Locomotive Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Locomotive competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Locomotive
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Locomotive market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Locomotive market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
• TMH
• CRRC
• Wabtec Corporation
• Alstom
• Siemens Mobility
• Sinara
• Stadler
• Hitachi
• Hyundai Corporation
• Toshiba International Corporation
Primary Target Market
- Market Players of Locomotive
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Locomotive market based on the below-mentioned segments:
Global Locomotive Market, By Propulsion Type
- Diesel
- Electric
Global Locomotive market, By Technology
- IGBT Module
- GTO Module
- SiC Module
Global Locomotive Market, By End Use
- Passengers
- Freight
Global Locomotive Market, By Component
- Rectifiers
- Inverter
- Motor
Global Locomotive market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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