Locomotive Market Size Will Achieve USD 27.56 Bn by 2030 growing at 7.7% CAGR - Exclusive Report by Emergen Research
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Rising adoption of autonomous locomotive engines is a key factor driving locomotive market revenue growth
VANCOUER, BC, CANADA, January 18, 2023 /EINPresswire.com/ -- The global locomotive market size was USD 14.31 Billion in 2021 and is expected to register a revenue CAGR of 7.7% during the forecast period, according to latest analysis by Emergen Research. Rising adoption of autonomous locomotive engines is a key factor driving market revenue growth.Rapid improvement of microprocessors, Artificial Intelligence, and miniaturization of laser and optical spatial scanning systems has enabled widespread use of autonomous vehicles on roads and railways. Automakers have long desired to harness power of autonomous electric mobility. Railway systems already include seeds of autonomous driving, as well as safety advantages over open-road driving
Leading companies looking for new revenue streams will find this research very helpful in understanding the market and its underlying dynamics. It is useful for companies looking to diversify into new markets or expand their current scope of operations.
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Strukton, Alstom SA., Hitachi Ltd., Bombardier Inc., Bharat Heavy Electricals Limited, Brookville Equipment Corporation, CRRC Corporation Limited, AEG Power Solutions, Toshiba Corporation, Siemens AG., Mitsubishi Heavy Industries, Ltd., and Wabtec Corporation.
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How will this Report Benefit you?
We have recently released a 250-page report from Emergen Research that includes 194 tables and 189 charts and graphics. Those who need commercial, in-depth market assessments for the global Locomotive Market , as well as a detailed market segment analysis, can find our new report valuable. Our recent study provides a thorough assessment of the whole regional and global market for Locomotive Market . To increase market share, obtain a comprehensive financial analysis of the whole market and its various segments. It is clear that energy storage technology is rapidly expanding. Look at how you might take advantage of the current and future revenue-generating opportunities in this industry. Additionally, the research will assist you in making more effective strategic decisions, such as building growth strategies, strengthening competitor analysis, and increasing business productivity.
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The report highlights the current impact of COVID-19 on the Locomotive Market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Locomotive Market according to the impact of COVID-19.
Some Key Highlights from the Report :
The passengers segment revenue is expected to increase at a steady rate over the forecast period due to rising adoption of locomotives in passenger railway transport. For instance, in February 2022, Alstom, a French multinational rolling stock manufacturer signed a deal for delivery of up to 50 electric Traxx locomotives to Belgiumβs SociΓ©tΓ© Nationale des Chemins de Fer Belges (SNCB). These new locomotives will be utilized for cross-border and domestic travel in the Netherlands, Belgium, Germany, and Luxembourg.
The electro-diesel segment is expected to register a steady revenue growth rate over the forecast period. An electro-diesel locomotive is a kind of locomotive that could be powered by either electricity or an onboard diesel engine. Dual power facility of electro-diesel locomotives creates a high demand in the market. In September 2020, Siemens received an order from Deutsche Bahn, a German railroad company for up to 400 electro-diesel hybrid locomotives for its cargo fleet.
The Asia Pacific market accounted for largest revenue share in the global locomotive market in 2021 due to increasing development of railway infrastructure and rising demand for electric locomotives in countries across the region, especially in China, Japan, and India. Over the 14th five-year plan period (2021-2025), China is expected to invest around USD 154.88 billion in expanding railway network in the Yangtze River Delta region.
Segments covered in the report:
Emergen Research has segmented the global locomotive market based on technology, type, component, end-use, and region:
Technology Outlook (Revenue, USD Billion; 2019-2030)
Gate Turn-Off (GTO) Thyristor
Insulated-Gate Bipolar Transistor (IGBT) Module
Silicon Carbide (SiC) Module
Type Outlook (Revenue, USD Billion; 2019-2030)
Diesel
Electric
Electro-Diesel
Others
Component Outlook (Revenue, USD Billion; 2019-2030)
Rectifier
Alternator
Traction Motor
Inverter
Auxiliary Power Conversion Unit
Others
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End-Use Outlook (Revenue, USD Billion; 2019-2030)
Freight
Passengers
Others
Geographic Segment Covered in the Report:
The Locomotive Market provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)
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What Questions Should You Ask before Buying a Market Research Report?
How is the Locomotive Market evolving?
What is driving and restraining the Locomotive Market ?
How will each Locomotive Market submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030 ?
How will the market shares for each Locomotive Market submarket develop from 2022 to 2030 ?
What will be the main driver for the overall market from 2022 to 2030 ?
Will leading Locomotive Market s broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030 ?
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