Press release
Hybrid Train Global Market Expected to Grow $24.41 Billion with CAGR of 7.2% By 2028 | Key Players: Alstom SA, Siemens AG, Wabtec Corporation, Hyundai Rotem Company, Bombardier Inc.
Hybrid Train Market
The Business Research Company presents an extensive market research report on the Hybrid Train Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The hybrid train market size has grown strongly in recent years. It will grow from $17.24 billion in 2023 to $18.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to environmental regulations, rising fuel costs, government initiatives and incentives, urbanization and congestion, rail industry innovation..
The hybrid train market size is expected to see strong growth in the next few years. It will grow to $24.41 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to competitive landscape, public awareness and perception, global market expansion, focus on innovation and r&d, demonstration projects and pilot programs.. Major trends in the forecast period include electrification of transport, environmental regulations and emission reduction, hydrogen fuel cell integration, smart and connected railways, focus on energy efficiency..
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Key Market Players:
Major companies operating in the hybrid train market report are CRRC Corporation Limited, Alstom SA, Siemens AG, Wabtec Corporation, Hyundai Rotem Company, Bombardier Inc., Stadler Rail AG, Hitachi Ltd., Ballard Power Systems Inc., Construcciones y Auxiliar de Ferrocarriles SA, Rolls-Royce Holdings plc, The Kinki Sharyo Co. Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Vivarail Ltd., Thales Group, Kawasaki Heavy Industries Ltd., Cummins Inc., ABB Ltd., General Electric Company, Caterpillar Inc., Voith GmbH & Co. KGaA, Mitsubishi Heavy Industries Ltd., Vossloh AG, Škoda Transportation AS, Newag S.A., PESA Bydgoszcz S.A., Stäubli Electrical Connectors AG, Prodrive Technologies B.V., TMH International AG, ZF Friedrichshafen AG, Faiveley Transport S.A., Knorr-Bremse AG, Akiem Group S.A., Talgo S.A.
Market Drivers:
The increasing focus on reducing emissions from railways is expected to drive the hybrid train market. Governments and stakeholders across the world are focusing on reducing carbon footprints and overall emissions from transportation. Hybrid trains achieve reduced fuel consumption, which provides environmental benefits and economic savings. For instance, the Indian Railways is significantly focusing on electrifying the entire rail network by December 2023, with complete electrification of the Indian Railways targeted by the financial year 2024 by increasing its sourcing of renewable energy to electrify the traction network and reduce energy consumption. Hence, the growing focus on reducing emissions from railroads will drive the market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/hybrid-train-global-market-report
The hybrid train market covered in this report is segmented -
1) By Propulsion: Electro-Diesel, Battery Operated, Hydrogen Powered, Gas Powered, Solar Powered
2) By Operational Speed: Below 100 km/h, 100-200 km/h, Above 200 km/h
3) By Application: Freight, Passenger
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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