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Hybrid Train Market to Cross $23.9 billion by 2027, At a CAGR of 6.6%

08-23-2021 08:07 AM CET | Energy & Environment

Press release from: Allied Market Research

Hybrid Train Market

Hybrid Train Market

Advantages associated with hybrid trains over conventional trains along with increase in awareness and stringent government regulations regarding environmental pollution drive the growth of the global hybrid train market. However, surge in cost regarding development of hybrid trains and their infrastructure hinders the market growth. On the other hand, supportive government initiatives and investments towards alternative fuel-powered hybrid trains present new opportunities in the coming years.

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Covid-19 Scenario

• With lockdown imposed in many countries, the ban on the import & export and transportation activities disrupted the supply chain and consequently hampered manufacturing activities.
• Many governments banned train travel for citizens to curb the spread of coronavirus. So, the implementation of hybrid trains lowered down during the lockdown.
• Many organizations held the investments back due to economic uncertainty that occurred during the pandemic. The investments would be made post-pandemic as the industry recovers.

Based on application, the passenger segment accounted for the largest market share in 2019, holding nearly 90% of the global hybrid train market, and is expected to maintain its dominant share during the forecast period. Moreover, this segment is estimated to witness the largest CAGR of 6.6% from 2020 to 2027. This is attributed to need to reduce the traffic & pollution from road transport and increase in demand for traveling safely and reliably. The research also analyzes the freight segment.

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On the basis of region, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Europe held the dominant share in 2019, and is anticipated to maintain this trend during the forecast period. This is attributed to rise in adoption of hybrid trains from economies such as Germany, France, Spain, and the UK in the region.

In addition, rise in urbanization and rail infrastructure construction activities in European countries is increasing the demand for hybrid trains, which further drives the growth of the hybrid train market during the forecast period. Moreover, increase in government initiatives toward reducing carbon emissions is expected to fuel the market growth from 2020 to 2027.

The global hybrid train market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include Alstom SA, Ballard Power Systems, Inc., Bombardier, Inc., China Railway Rolling Stock Corporation (CRRC), Hyundai Rotem Company, Kawasaki Heavy Industries, Ltd., Siemens AG, Stadler Rail AG, Toshiba Corporation, and Wabtec Corporation.

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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. 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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