Press release
Power Conversion Unit Market Size & Share for Locomotive - Industry Trend and Forecast 2018 - 2026
The main objective of this report is to define, describe, and forecast the global “Power Conversion Unit Market for Locomotive” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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The power conversion unit for locomotive constitutes of equipment used in locomotives that converts electric or diesel energy to obtain the train drive. The power conversion unit plays an integral role as the electric power supply of a locomotive is AC, and to achieve advantages of the DC series motor, the power is then converted to DC.
Expansion of the railway network and increased awareness about public transport are driving the power conversion market for locomotive. Increased urbanization driven by investments in infrastructure and development of industrial and commerce zones have fuelled the need of transit, thus driving the locomotive industry and in turn the power conversion unit market for locomotive. Expansion of rail networks in developing countries and rising concerns about emission are prompting several consumers to utilize a public mode of transport such as locomotives. This, in turn, is boosting the power conversion market for locomotive. The transport of freight by rail is less time consuming and cost effective over road freight transport. Europe has wide interstate rail network that is used for freight transport. The increase in rail freight transport is projected to boost the locomotive market and thus boost the demand for power conversion units. In North America, metropolitan areas have electrified power supply network, while the intercontinental and rural network still rely on diesel. The MITRAC (Modular Integrated Traction System) initiated by Bombardier houses power converters for electric and diesel systems, the robust nature of the system allows to operate the locomotive in urban and rural areas. The usage of hydrogen fuel cells to power locomotives present growth opportunities for the power conversion market for locomotive.
The high price of power conversion equipment is a restraining factor for the growth of the market.
The global power conversion unit market for locomotive can be segmented based on component, locomotive, technology, and region. Based on component, the power conversion unit market for locomotive can be classified into five segments. Among them, the traction motor and rectifier are two of the power conversion unit segments. The traction motor are used in electric multiple units and electric locomotives. Increased preference for an electric multiple unit is estimated to drive the power conversion unit market for locomotive.
Based on locomotive, the global power conversion unit market for locomotive can be segregated into four segments. Electric multiple unit and diesel locomotive are the prominent segments of the power conversion market for locomotive. Increased freight transport by rail is estimated to drive the diesel locomotive segment.
In terms of technology, the power conversion unit market for locomotive can be segmented into three segments. The IGBT (Insulated gate bipolar transistor) technology is estimated to expand at a significant growth rate in the near future. The IGBT module have witnessed increased usage in power conversion, as it replaces the inverter technology. Demand for IGBTs is high as they operate at high currents and have high switching frequency.
In terms of region, the power conversion unit market for locomotive can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a leading market for power conversion for locomotives, owing to the high use of railways in India & China.
The key players operating in the region include Bombardier, ABB Ltd., Bharat Heavy Electricals Limited, Hitachi Ltd, CRRC Corporation China, Alstom S.A., Toshiba Corporation, Turbo Power Systems, and AEG Power Solutions.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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