Technological Advancements in Locomotives Boost Market Expansion

Locomotive Market Overview

Locomotive Market is projected to be worth USD 25.7 billion by 2027, registering a CAGR of 11.61% during the forecast period (2022-2030)

Builders are ramping up production and at the same time continuing to tweak product lines in order to meet railroads efficiency and environmental-compliance needs along with demands for enhanced electronics associated with distributed power initiatives and positive train control (PTC) implementation.

Increasing rate of urbanization is contributing towards the growth of locomotive industry among the general public. Expansion of rail networks in majority of developed as well as developing nations as well as increasing concern amongst the individuals regarding environmental sustainability has lead to a positive impact on the global locomotives market. Significant investment by authorities across the globe in development of railway infrastructure for freight and high speed trains has also resulted in the growth of global Locomotive Market.

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Locomotive Market Segmentation

The global locomotive market has been segmented based on technology, type, and component. On the basis of type, the market for locomotive is segmented based on diesel, electric and others. Additionally, the market on the basis of technology, is segmented into IGBT Module, GTO Thyristor and SiC Module. The global market for locomotive is also covered based on the component segment which is further split into rectifier, inverter, traction motor, alternator and others.

Factors like technological upgradation in locomotives and growing population support the locomotive market growth. The performance of the locomotive market has also been studied for the past and current years. Additionally, the locomotive market report provides analysis of these segments. The locomotive market segmental analysis provided in the report offers major details about the locomotive market based on the data and forecasts till 2025.

Locomotive Market Regional Overview

Companies in the locomotive market are spread across the world. The locomotive market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American locomotive market has many companies across the United States, Canada, and Mexico. The locomotive market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the locomotive market can be found in the market research report. Europe has companies in the locomotive market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the locomotive market across India, China, and Japan in the Asia-Pacific region is also presented in the report.

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Locomotive Market Competitive Landscape

The locomotive market is supported by increasing use of technology across different industry verticals. The population growth around the world and increasing demand of locomotive market based services and products also support the market growth. However, the locomotive market growth can be affected due to capital-insensitivity of railway vehicles. The report covers all such details which will help companies in the locomotive market to strengthen their business plan and improve their product portfolio. The locomotive market research report also provides company profiles of major companies. The company profiles of many organizations operating in the locomotive market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the locomotive market. New companies and established businesses can plan their strategies based on this data provided in the locomotive market research report.

Locomotive Industry News

Bulgarian railway company BDZ Passengers reported that the first of 20 electric engines to be revamped had been obtained and placed into service. The company also plans to acquire another locomotive in the coming months, as stated in an official statement. Consortium Railway Services consists of the Czech-based Ceskomoravska Zeleznicni Opravna, which owns an 83% stake, and the Bulgarian TBD-Tovarni Prevozi.