Global Locomotive Market Analysis, Size, Market share, Growth, Trend and Forecast to 2029

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 motorized rail transport vehicle that can only be used to drive a train over railway rails; it has no cargo capacity. However, push-pull operations using locomotives in front of, behind, or at both ends of the train are becoming more prevalent today. Because of their superior performance, minimal maintenance and energy costs, and low pollution levels, electric locomotives are chosen. Long-term demand for locomotives is anticipated to be driven by rising urbanization, snarled traffic, growing environmental concerns, and technological advancements. Governments are actively taking part in the market to build railways, which are the most affordable and secure form of transportation, which further accelerates the expansion of the locomotive industry.

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Market Dynamics:

Driver:

The locomotive market is primarily driven by advancements in urbanization, environmental sustainability, a wide range of upcoming rail projects, rising demand for fuel-efficient cars, and developing rail network infrastructure. To meet the need for public transit, the world's large rail network continues to encourage the development of electric locomotives. Additionally, due to technological advancements like the development of SiC modules, IGBT modules, and auxiliary power units, the demand for locomotive motors is rising. These innovations have improved fuel economy, decreased overall weight, and reduced pollution levels. When used as it is now, this has reduced power usage.

Opportunities:

Many locomotive manufacturers are developing novel propulsion technologies, including hydrogen fuel cells, fully electric locomotives, and hybrid diesel-electric locomotives, to achieve zero wheel-to-wheel emissions. For instance, the German company Deutsche Bahn Group and the CRRC Corporation inked a framework agreement in 2018 to export 20 hybrid shunting locomotives. This locomotive uses a third-rail, diesel, and lithium-titanium battery hybrid electric gearbox to reach a top speed of 100 km/h. The battery range of Bombardier's Talent 3 locomotive is now just 40 km, but the firm plans to eventually raise it to 100 km.

The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
• Company Profiling and Competitive Positioning
• Industry Value Chain Analysis
• Market Dynamics and Factors
• Porter's Five Forces Analysis
• Pestle Analysis

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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

Market Segmentation

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

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-kilometer 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)

Key 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 liters on diesel consumption.

Table of content: -
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Growth Opportunities By Segment
Chapter 4: Market Landscape
Chapter 5: Locomotive Market by Type
Chapter 6: Locomotive Market by Motive Power
Chapter 7: Locomotive Market by Application
Chapter 8: Company Profiles and Competitive Analysis
To Be Continue….

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