Global Locomotive Market Outlook to 2023: Global Size, Share, Trends, Manufacturers
Market Research Future published research report on “Global Locomotive Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023
Bharat Heavy Electricals Limited, Berliner Maschinenbau, Lokomo, China Northern Rail Corporation Limited, Bombardier Transportation, Brookville Equipment Corporation, GE Transportation, Alstom Ferroviaria S.p.A are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Locomotive Market.
Locomotive Market – Overview
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 led 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.
Diesel locomotive market is also growing significantly. Majority of the revenue is generated from the aftersales market which encompasses repair and maintenance of the approximately 120,000 diesel locomotives operated worldwide.
Increasing transport demand, as well as fleet refurbishments and new product platforms will spur the global locomotive market. A substantial proportion of locomotives are either operated solely for freight or used universally. The proportion of units used specifically for passenger transport has declined rapidly in the last few years.
The major trend in the market is the increase in the use of autonomous locomotive engines for long distance transport. Increasing preference for non-polluting and energy-efficient transport is majorly driving the growth of the market. Also, the growth of the market is driven by the increasing government expenditure on developing rail systems for public transport.
Locomotive Market – Competitive Analysis
The global locomotive market was significantly affected by the economic downturn in 2008-2010. Many operators chose to rehabilitate old locomotives instead of acquiring new ones. Companies such as Alstom or Siemens signed valuable contracts with the national Russian operator RZD.
Product innovation and a widespread need for fleet renewal will drive the electric locomotive market. An increasing trend towards local suppliers is evident in Eastern Europe. New electric locomotive manufacturers with their production facilities include Pesa and ZNLE in Poland, the Czech manufacturer Skoda, and Tülomsas in Turkey.
Locomotive Market – Segmentation
The Locomotive Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Technology - conventional locomotive, turbocharged and MAGLEVS
Segmentation by Application - Passenger and Freight
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Locomotive Market – Regional Analysis
The Asia-Pacific region is estimated to dominate the locomotive market and is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the improving socio-economic conditions in developing countries such as China, India, Indonesia, and Thailand. The increased populations in countries such as China and India has resulted in increase in need for public transport, which in turn results in an increase in the number of government rail projects.
Bharat Heavy Electricals Limited, Berliner Maschinenbau, Lokomo, China Northern Rail Corporation Limited, Bombardier Transportation, Brookville Equipment Corporation, GE Transportation, Alstom Ferroviaria S.p.A are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Locomotive Market.
Locomotive Market – Overview
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 led 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.
Diesel locomotive market is also growing significantly. Majority of the revenue is generated from the aftersales market which encompasses repair and maintenance of the approximately 120,000 diesel locomotives operated worldwide.
Increasing transport demand, as well as fleet refurbishments and new product platforms will spur the global locomotive market. A substantial proportion of locomotives are either operated solely for freight or used universally. The proportion of units used specifically for passenger transport has declined rapidly in the last few years.
The major trend in the market is the increase in the use of autonomous locomotive engines for long distance transport. Increasing preference for non-polluting and energy-efficient transport is majorly driving the growth of the market. Also, the growth of the market is driven by the increasing government expenditure on developing rail systems for public transport.
Locomotive Market – Competitive Analysis
The global locomotive market was significantly affected by the economic downturn in 2008-2010. Many operators chose to rehabilitate old locomotives instead of acquiring new ones. Companies such as Alstom or Siemens signed valuable contracts with the national Russian operator RZD.
Product innovation and a widespread need for fleet renewal will drive the electric locomotive market. An increasing trend towards local suppliers is evident in Eastern Europe. New electric locomotive manufacturers with their production facilities include Pesa and ZNLE in Poland, the Czech manufacturer Skoda, and Tülomsas in Turkey.
Locomotive Market – Segmentation
The Locomotive Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Technology - conventional locomotive, turbocharged and MAGLEVS
Segmentation by Application - Passenger and Freight
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Locomotive Market – Regional Analysis
The Asia-Pacific region is estimated to dominate the locomotive market and is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the improving socio-economic conditions in developing countries such as China, India, Indonesia, and Thailand. The increased populations in countries such as China and India has resulted in increase in need for public transport, which in turn results in an increase in the number of government rail projects.
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