Press release
Electric Locomotives Market 2020-2030: COVID-19 Growth and Change
Electric Locomotives Market
The global electric locomotives market is expected to decline from $6.53 billion in 2019 to $6.4 billion in 2020 at a compound annual growth rate (CAGR) of -1.99%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and all travel and transport activities. The market is then expected to recover and reach $7.85 billion in 2023 at CAGR of 7.06%.
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The electric locomotives market consists of sales of electric locomotives which provide motive power to trains with no payload capacity, and their only use is to pull trains along the tracks. The sales consists of revenues generated by establishments that are primarily engaged in the manufacturing of locomotives and its components such as electric motors, transformer, inverter, and compressor.
Increasing preference for non-polluting and energy-efficient transport is contributing to the growth of the electric locomotives market. According to UK Department of Transport, besides highly efficient electric motors in electric locomotives that regularly have efficiency of around 90% due to the advancements such as regenerative braking which can recover energy from braking, they emit 20%-35% less carbon per passenger mile than those enabled by diesel and helps in reduction in carbon emissions. Concerns regarding greener environment resulted in increasing demand for non-polluting and energy-efficient transport systems, thereby driving the electric locomotives market.
Electric Locomotives Market Segmentation: -
By Energy Transfer
Overhead Lines
Third Rail
On-board Energy Storage
By Technology
IGBT Module
GTO Thyristor
SiC Module
By Traction Units
AC Traction Units
DC Traction Units
Multi System Units
By Application
Passenger Transport
Freight Transport
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Few Points From Table Of Content
1. Executive Summary
2. Electric Locomotives Market Characteristics
3. Electric Locomotives Market Size And Growth
4. Electric Locomotives Market Segmentation
5. Electric Locomotives Market Regional And Country Analysis
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.
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25. Electric Locomotives Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Electric Locomotives Market
27. Electric Locomotives Market Trends And Strategies
28. Electric Locomotives Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Electric Locomotives Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Electric Locomotives Market are CRRC Corporation Limited, Bombardier Inc., Alstom SA, Siemens AG, Kawasaki Heavy Industries Ltd., General Electric Company, Transmashholding AG, Stadler Rail AG, Hitachi Ltd., AEG Power Solutions.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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