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Locomotive Market is touching new levels – A comprehensive study segmented by Key Players: Strukton, Alstom, AEG Power Solutions B.V., Siemens

05-04-2021 10:35 AM CET | Logistics & Transport

Press release from: Allied Market Research

Locomotive Market

Locomotive Market

Locomotive Market Outlook - 2027

A locomotive is a rail transport used for pulling a train or hauling railroad cars on tracks. Locomotives are categorized into freight, passenger, and repowered locomotives, and are powered by diesel, electricity, or steam. The increasing rate of urbanization has been contributing to the growing popularity of locomotives. Expansion of rail networks in developed and developing nations and increasing concern among individuals regarding environmental sustainability lead to the growth of global locomotives market. Significant investment in the development of railway infrastructure for freight and high-speed trains is expected to boost the growth of the global locomotive market in near future.

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COVID-19 SCENARIO ANALYSIS

The global market for locomotive is severely impacted by the outbreak of the COVID-19 pandemic.
The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
Thus, insufficiency in raw material supply is expected to hamper the production rate of locomotives, which negatively impact the market growth.
However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

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The significant factors impacting the growth of global locomotive market are expansion of railways network and growing population of the countries. However, high initial investment and maintenance cost hampers the growth of global locomotive market. On the other hand, e-mobility and technological advancements provides an opportunity in the locomotive market and will tremendously grow in near future.

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Expansion of railways network

With the need of improving connectivity between remote and local areas, railway network is also expanding. To expand the railway networks the need of the locomotives such as freight, passenger, and repowered locomotives has increased. Thus increase in locomotives has resulted in the growth of global locomotive market.

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Growing population of the countries

Since there is a continuous growth in the population,people tend to move from one place to another for various reasons i.e. for personal and trade purposes. To carry or to move these people, there is a need for increased resources. These resources increases the demand of locomotives. Thus resulting in the growth of global locomotive market in near future.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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