Locomotive Market Share to Touch USD 5 Billion at 3.5% CAGR by 2027...

Locomotive Market Share to Touch USD 5 Billion at 3.5% CAGR by 2027

Posted 2021-05-24 15:37:33

Market Analysis

The global Locomotive Market Share is anticipated to touch USD 5 billion at a 3.5% CAGR between 2018- 2025 states the recent Market Research Future (MRFR) analysis. A locomotive, simply put, is a rail transport vehicle that is powered by steam, electricity, and diesel to haul railroad car on tracks, or pulling a train. Some of its components comprise alternator, traction motor, inverter, rectifier, and others. It works on different technologies such as SiC module, GTO thyristor, and IGBT module.

Various factors are propelling the global Locomotive Market Share. As per the current MRFR report, such factors include the expansion of rail network infrastructure, environmental sustainability, increasing urbanization, growth in industrialization, and demand for energy-efficient rolling stock. Additional factors adding market growth include improving economies of developing countries, growing population, growing mining and industrial activities, and technological upgrades in locomotives such as data-driven maintenance services and e-mobility technology.

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On the contrary, the complex nature of components, high components cost, and high initial investments are factors that may limit the global Locomotive Market Share over the forecast period. Besides, the ongoing COVID-19 pandemic has brought the market to a standstill. Its rapid spread has urged governments to take strict measures. Owing to the bans in travel, the locomotive business is likely to be a big hit in the upcoming years.

Market Segmentation

The MRFR report provides an inclusive segmental analysis of the global Locomotive Market Share report based on technology, component, and type.

By type, the global Locomotive Market Share is segmented into electric, diesel, and others. Of these, the electric segment will lead the market over the forecast period.

By component, the global Locomotive Market Share is segmented into alternator, traction motor, inverter, rectifier, and others. Of these, the rectifier segment will dominate the market over the forecast period.

By technology, the global Locomotive Market Share is segmented into SiC module, GTO thyristor, and IGBT module. Of these, the IGBT module segment will have a major share in the market over the forecast period.

Regional Analysis

Based on the region, the global Locomotive Market Share report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, the APAC region will lead the market over the forecast period. Improving socio-economic conditions in Japan, India, and China, a huge potential consumer base, rising urbanization, expanding

rail network, and growing population growth is adding to the global Locomotive Market Share in the region. Japan, China, and India have the maximum share in the market.

The global Locomotive Market Sharein North America is predicted to have healthy growth over the forecast period. The presence of top market players, heavy industrialization, stable economy, advanced technology, and increasing expenditure made by the government to expand and modernize the rail network are factors that are adding to the global Locomotive Market Share in the region.

The global Locomotive Market Share in Europe is predicted to have notable growth over the forecast period. The presence of many large scale manufacturers coupled with the region being the largest market for rail products are adding market growth.

The global Locomotive Market Share in the RoW is predicted to have sound growth over the forecast period. Growing demand for power & conversion systems, robust economic growth, and the rising number of rail infrastructural projects are adding to the global Locomotive Market Share in the region.

Key Players

Prominent players profiled in the global Locomotive Market Share report include Bombardier Transportation (Canada), Stadler Rail (Switzerland), Kawasaki Heavy Industries (Japan), EMD Caterpillar (US), Transmashholding (Russia), GE Transportation (US), Alstom S.A (France), Siemens AG (Germany), AEG Power Solutions (Germany), and Corporation Limited (China).

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Key Questions Addressed by the Report

What was the historic market size?
Which segmentation (Product/ Capacity) is driving market?
What will be the growth rate?
How are the key players in this market?
What are the strategies adopted by key players?

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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