The Locomotive Market size is projected to reach USD 29.62 billion by 2028 |

Market Overview:

The Locomotive Market size is projected to reach USD 29.62 billion by 2028 from an estimated USD 16.67 billion in 2021, growing at a CAGR of 8.56% globally.

A locomotive is a powered rail transport vehicle that powers a train without payload capacity and its use is solely to pull the train along the railroad tracks. But nowadays, push-pull operations are becoming more common, with locomotives behind, in front of, or at both ends of the train. Electric locomotives are preferred because of their high performance, low maintenance, and energy costs, and low levels of pollution. In the foreseeable term, increased urbanization, traffic congestion, expanding environmental concerns, and technology improvements are expected to fuel locomotive demand.

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Market Dynamics:

Drivers:

Progress in urbanization, environmental sustainability, a wide range of future rail projects, increasing demand for energy-efficient vehicles, and expanding rail network infrastructure are key factors driving the locomotive market. The extensive rail network around the world continues to support the growth of electric locomotives to meet the demand for public transport. In addition, the demand for locomotive motors is increasing due to technological advances such as the introduction of SIC modules, IGBT modules, and auxiliary power units. These advances have reduced emission levels, improved fuel efficiency, and reduced overall weight. This has reduced power consumption when it's used in its current state.

Opportunities:

For achieving zero wheel-to-wheel emission many locomotives manufacturers are coming up with new propulsion technologies locomotives such as the hybrid diesel-electric battery, completely battery-electric, and hydrogen fuel cell. For instance, in 2018, CRRC corporation signed a framework agreement with Deutsche Bahn Group of Germany to export 20 hybrid shunting locomotives. With a maximum speed of 100km/h this locomotive is a combination of third-rail, diesel, and a lithium-titanite battery hybrid electric transmission.

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Segmentation Analysis of Locomotive Market:

By Operation Engine:

IGBT Power Module is dominating in the Locomotive market. Insulated Gate Bipolar Transistors (IGBTs) are today's state-of-the-art power electronics for the traction system of electric (and diesel-electric) rail vehicles. They replace the previous inverter generation represented by GTO (gate turn-off thyristors). In contrast to conventional transistors, IGBTs operate at very high currents (> 1000 A).

By Motive Power:

The Diesel segment is dominating the locomotive market. Diesel-powered locomotive engines are the most used type of motive power engines in the world. Since the development of the locomotive engine, diesel-powered engines used for long-haul routes for passenger and freight purposes. This type of locomotive generates self-power by using diesel fuel with a two-stroke or four-stroke engine.

By Application:

The Passenger segment is expected to dominate the locomotive market. Currently, the use of locomotive has exceeded by the passenger segment tremendously as a large percentage of crowd uses trains for longer journey in all part of the world due to cheap fair and comfort. During the second quarter (Q2) of the financial year 2021-22, 248 million rail passenger rides were made in the United Kingdom.

By Type:

Rigid
Semi-rigid
Flexible

By Motive Power:

Gas Turbine Electric
Steam Diesel Hybrid
Diesel
Atomic Electric
Steam
Others

By Application:

Passenger
Freight
Switcher Locomotives

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Regional Analysis of Locomotive Market:

The Asia Pacific is dominating the locomotive market. The railway is the preferred means of transport among the passengers of the major Asian economies such as China, India, and Japan. With these three countries also topping the list of passenger-km per year, in addition to that major manufacturers of the locomotive market are headquartered in this region. Local governments are putting more and more capital into advancing the present rail network. For instance, in 2018 China invested USD 117.12 billion in fixed rail assets and its plan for 2020 is to invest in 6,800 km of new railway lines which is 40% up from the previous year, in which approx.

By Region:

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
South America (Brazil, Argentina, Rest of SA)

Players Covered in 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 and other major players.

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Key Industry Developments in Locomotive Market:

March 2020, Alstom has signed a Memorandum of Understanding (MOU) for the acquisition of Bombardier Transportation with Bombardier Inc. and the Caisse de dépôt et placement du Québec ("CDPQ"). The total cost of acquiring all of Bombardier Transportation's shares is expected to be roughly €6 billion.

In March 2020, In a Future of Shunting Locomotives conference, CZ Loko unveiled three new hybrid locomotive concepts: the DualShunter 2000, EffiLiner 2000, and DualLiner 2000. These models were expected to hit the track by 2023.

April 2020, Toshiba Corporation has been granted 50 hybrid locomotive orders by Deutsche Bahn, with series production expected to begin in 2021. This hybrid locomotive can save 30% on annual energy consumption and 1 million litres on diesel consumption.

Table of Content:

Chapter 1: Introduction

1.1 Research Objectives

1.2 Research Methodology

1.3 Research Process

1.4 Scope and Coverage

1.4.1 Market Definition

1.4.2 Key Questions Answered

1.5 Market Segmentation

Chapter 2: Executive Summary

Chapter 3: Growth Opportunities by Segment

3.1 By Type

3.2 By Motive Power

3.3 By Application

Chapter 4: Market Landscape

4.1 Porter's Five Forces Analysis

4.1.1 Bargaining Power of Supplier

4.1.2 Threat of New Entrants

4.1.3 Threat of Substitutes

4.1.4 Competitive Rivalry

4.1.5 Bargaining Power Among Buyers

4.2 Industry Value Chain Analysis

4.3 Market Dynamics

4.3.1 Drivers

4.3.2 Restraints

4.3.3 Opportunities

4.5.4 Challenges

4.4 Pestle Analysis

4.5 Technological Roadmap

4.6 Regulatory Landscape

4.7 SWOT Analysis

4.8 Price Trend Analysis

4.9 Patent Analysis

4.10 Analysis of the Impact of Covid-19

4.10.1 Impact on the Overall Market

4.10.2 Impact on the Supply Chain

4.10.3 Impact on the Key Manufacturers

4.10.4 Impact on the Pricing

Chapter 5: Locomotive Market by Type

To be Continue….

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The Locomotive Market size is projected to reach USD 29.62 billion by 2028

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