The Electric Locomotives Market Is Predicted To Witness Incremental Growth In The Forecast Period 2023-2032
As per the electric locomotives market report by The Business Research Company, the increasing preference for non-polluting and energy-efficient transport is contributing to the growth of the electric locomotive market.
The global electric locomotives market size will grow from $1.67 billion in 2022 to $1.89 billion in 2023 at a compound annual growth rate (CAGR) of 13.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electric locomotives market size is expected to grow to $2.90 billion in 2027 at a CAGR of 11.4%.
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Major competitors in the electric locomotives market include CRRC Corporation Limited, Bombardier Inc., Alstom SA, Siemens AG, Kawasaki Heavy Industries Ltd., General Electric Company, Transmashholding AG, Stadler Rail AG, Hitachi Ltd., and AEG Power Solutions.
The electric locomotives market is segmented -
• 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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the electric locomotives market.
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Electric locomotive is a locomotive that runs on electricity and gets its power from storage batteries, overhead wires, or third rails, or even generates it on its own.
The Table Of Content For The Electric Locomotives Market Include:
1. Executive Summary
2. Electric Locomotives Market Characteristics
3. Electric Locomotives Market Trends And Strategies
4. Electric Locomotives Market - Macro Economic Scenario
5. Electric Locomotives Market Size And Growth
6. Electric Locomotives Market Segmentation
26. Africa Electric Locomotives Market
27. Electric Locomotives Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electric Locomotives Market
29. Electric Locomotives Market Future Outlook And Potential Analysis
The "Global Electric Locomotives Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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