Locomotive Market High Demand, Recent Trends, Future Growth, Business Scenario, Product, Technology, Share and Forecast 2030

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“Emerging Research | Locomotive market”

Growing adoption of autonomous locomotive engines is a key driver of locomotive market revenue growth

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 the latest analysis from Emergen Research. The growing adoption of autonomous locomotive engines is a key driver of market revenue growth.

Rapid improvements in microprocessors, artificial intelligence, and miniaturization of laser and optical spatial scanning systems have enabled widespread use of autonomous vehicles on roads and railroads. Automakers have long wanted to harness the power of autonomous electric mobility.

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Rail systems already include seeds of autonomous driving, as well as safety advantages over driving on the open road. Various companies are currently testing, developing and introducing autonomous locomotives, for example, in April 2022, Alstom, a French multinational rolling stock manufacturer, successfully carried out ODS tests in Oosterhout, near the Dutch city of Breda.

The ODS installed on the locomotive is able to detect obstacles up to 1,000 meters away in all weathers and circumstances. It can be used both as a driver assistance system and as a fully automated system when combined with Alstom’s AutoPilot component. Autonomous locomotives are also used in mining sectors. For example, Rio Tinto Limited, which is a global mining company, operates a self-sufficient fleet of 221 heavy-haul locomotives along its 1,700 km route 24 hours a day, retrieving iron ore from southern mines and transporting it to through the rugged Pilbara region to ports 300 kilometers overlooking the Indian Ocean.

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Report Highlights

Revenue from the passenger segment is expected to increase at a steady rate over the forecast period owing to the growing adoption of locomotives in passenger rail transportation.

For example, in February 2022, Alstom, a French multinational manufacturer of rolling stock, signed an agreement for the delivery of up to 50 Traxx electric locomotives to the Société Nationale des Chemins de Fer Belges (SNCB) in Belgium. These new locomotives will be used 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 during the forecast period. An electro-diesel locomotive is a kind of locomotive that can be powered either by electricity or by an on-board diesel engine. The dual-feed installation of electro-diesel locomotives creates a strong demand in the market. In September 2020, Siemens received an order from Deutsche Bahn, a German railway company, for up to 400 electro-diesel hybrid locomotives for its freight fleet.

Asia-Pacific market accounted for the largest share of the global locomotive market revenue in 2021 owing to growing development of railway infrastructure and growing demand for electric locomotives in countries in the region, particularly in China, Japan and India.

Competitive field:

The global locomotive market is highly consolidated owing to the presence of a large number of companies in this industry. The report examines in detail the current position of these companies in the market, their past performance, supply and demand graph, production and consumption patterns, sales network, distribution channels and opportunities. growth in the market. The report examines the strategic approach of leading market players to expand their product offerings and strengthen their market presence.

Some major companies in the global market report include 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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The report further splits the Locomotive market into key segments like types, applications, end-user industries, technologies, and key market regions. The report also throws light on the segment and region exhibiting promising growth in the Locomotive market.

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 cut-off thyristor (GTO)

Insulated Gate Bipolar Transistor (IGBT) Module

Silicon carbide (SiC) module

Type Outlook (Revenue, USD billion; 2019-2030)

Diesel

Electric

Electro-Diesel

Others

Components Outlook (Revenue, USD Billion; 2019-2030)

Rectifier

Alternator

Traction motor

Inverter

Auxiliary power conversion unit

Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Freight

Passengers

Others

The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.

Regional Locomotive Market Outlook:

North America

WE

Canada

Mexico

Europe

Germany

UK

Italy

France

BENELUX

The rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East and Africa

Saudi Arabia

United Arab Emirates

South Africa

Rest of MEA

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Key questions answered by the report:

Which region is expected to dominate the market in the coming years?

What are the recent technological and product advancements in the market?

What are the key strategies adopted by the leading players in the Locomotive market?

What are the main product types and applications of the locomotive industry?

What is the result of the SWOT analysis and Porter’s five forces analysis?

How is the Competitive Landscape of the Locomotive Market?

Who are the major players in the industry?

What is the growth rate of the industry in the coming years?

What will be the valuation of the Locomotive market by 2030?

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About Us:

At Emergen Research, we believe in advancing with technology. We are building a market research and strategy consulting firm with an extensive knowledge base on cutting-edge and potentially market-disrupting technologies that are expected to become more prevalent over the next decade.

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