Steady Rise Projected in Locomotive Market, Reaching New Heights by 2030
Market Research Future Insights
The global Locomotive Market Size is projected to be worth USD 33.5 billion by 2030, registering a CAGR of 11.61% during the forecast period (2023- 2030).
A locomotive machine is a rail transport vehicle powered by diesel or electricity to push or haul the train along its track. Some trains have their self- propelled cargo- carrying vehicles.
These machines perform push- pull operations in which the machines are present at the front, reverse, or both ends of the trains. Electric machines are extensively preferred over diesel machines as they offer high performance, reduce pollution situations, and give lower energy and conservation costs.
The adding urbanization, adding population, and rising business traffic on roads are the major contributors to the rising popularity of these products among the general public. Expansion of rail networks in various developed and developing nations and the rising concern of environmental sustainability among people will aid the growth of the market.
Key Players
· CRRC Corporation Limited
· AEG Power Solutions
· Siemens AG
· Alstom S.A
· GE Transportation
· Transmashholding
· EMD Caterpillar
· Kawasaki Heavy Industries
· Stadler Rail
· Bombardier Transportation
Regional Analysis
The Asia- Pacific region is anticipated to hold the largest Locomotive Market Share during the forecast period. The massive transport assiduity and the constantly rising road passengers and train trip are likely to produce several openings for the companies operating in the indigenous request. In addition, the road is the most favored means of transport among the passengers of the major Asian economies similar to China, India, and Japan.
These three countries are also beating the list of passenger- kilometer per time, as major manufacturers of the locomotive market are headquartered in this region. Asia- Pacific is also characterized by developed and developing economies, similar as Singapore, Malaysia, Indonesia, and Bangladesh. New rail systems for civic passenger transportation and the relief and conservation of the line are anticipated to drive the market in these countries.
Europe is projected to exhibit steady growth in the market over the forecast period due to the presence of a large number of rail material manufacturers and a comprehensive rail network. North America is likely to show good growth in the market aided by a robust original manufacturing base, particularly for diesel machines. likewise, regulations similar as the Buy American Act, which compels foreign rolling stock manufacturers to produce original product spots, are likely to fuel the demand for the product in this region.
Market Segmentation
Based on the technology type, the market is segmented into the IGBT module, GTO thyristor and SiC module.
They generally replace the gate turn- off Thyristor GTO owing to their lighter weight than GTO modules, therefore offering constructive advantages. IGBT consists of three outstations the emitter, collector, and gate and is generally used for travelling long distances to transport passengers and freight. As the power controlling capability of IGBT modules was expanded, they became precipitously popular for use in advanced- powered locomotives.
Based on the propulsion type, the market is segmented into diesel and electric.
The diesel propelled member holds the largest share in the market. A diesel locomotive consists of a diesel machine that works as a traction supplier. Various types of diesel products are developed, which generally differ in terms of their capability to transfer mechanical energy to the driving bus.
Diesel energy is stored in the energy tank which is supplied by an electric energy pump to power the machine. Diesel energy has a high preference owing to the economic cost, lesser vacuity, and lower volatility.
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