Rolling Stock Power Conversion System Market to Witness Robust Expansion Throughout the Forecast Period 2022 - 2028

According to our latest market study on "Rolling Stock Power Conversion System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Components (Rectifier, Inverter, Alternator, Auxiliary Power Unit (APU), Traction Motor); Rolling Stock Type (Locomotives, Metros, Monorails, Trams, Freight Wagons, Passenger Coaches, Others) and Geography"

The power conversion system utilized in rolling stock converts the alternating current to direct current and originates the diesel-based engine's power to propel the rolling stock. The power conversion unit involves different equipment responsible for deriving the power from diesel- or electric-based machine, which is mandatory to various power components of rolling stock and propel the train.

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Companies Profiled in this report includes: ABB Ltd.,  Alstom,  Bombardier, Inc.,  CRRC Corporation Ltd.,  Hitachi Ltd.,  Siemens AG,  Strukton,  Toshiba Corporation,  Turbo Power Systems,  Trimble Inc.

MARKET SEGMENTATION

  On the basis of component, the market is segmented as rectifier, inverter, alternator, auxiliary power unit (APU), and traction motor.

  On the basis of rolling stock type, the market is segmented as locomotives, metros, monorails, trams, freight wagons, passenger coaches, others.

MARKET DYNAMICS

Drivers:

  Increase in the demand for energy-efficient transport

  Rise in the mining and other industrial activities

  Growing rate of adoption of public transport.

Restraint -

  Skilled labor required for Rolling Stock Power Conversion System

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IMPACT OF COVID-19 ON ROLLING STOCK POWER CONVERSION SYSTEM MARKET

The COVID-19 pandemic has an adverse impact on public transport around the world. Many countries have adopted lockdown measures in which operations of metro and other public transport have been halted, as a result of which passenger numbers have fallen drastically, and services were reduced. For instance, Metro train services in major cities across India restarted operations under COVID-19 guidelines from September 7, 2020, for the first time since March. However, major cities and transit systems worldwide have restarted the operation of metro and railways as the vaccine drives are being successfully implemented. Moreover, the rising need to focus on the reduced emissions and increased efficiency of public transport systems, specifically railways, has resulted in the stability of the global Rolling Stock Power Conversion System market with the strengthening of supply chain and reopening of production facilities.

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