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Locomotive Global Market Report 2024 - By Trends, Size, Share, Growth Analysis, Forecast To 2033
Locomotive Market
As per the report, the locomotive market size has grown strongly in recent years. It will grow from $19.89 billion in 2023 to $21.70 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The locomotive market size is expected to see strong growth in the next few years. It will grow to $31.10 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
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What Is Driving The Growth Of The Global Locomotive Market?
Driving Forces Behind the Growing Locomotive Market and Rail Transport Demand
The increasing demand for rail transport is expected to propel the growth of the locomotive market going forward. Rail transport is the movement of passengers and goods via trains that run on fixed tracks or railways, utilizing a specialized infrastructure of tracks, bridges, tunnels, and stations to facilitate efficient and sustainable transportation over land. The demand for rail transport is due to efficiency in freight transport, infrastructure investments, government policies, and incentives. Locomotives are integral to the efficient operation of railways, enabling the movement of goods and passengers across vast distances while providing flexibility and adaptability to various operational needs
What Is The Key Trend In The Global Locomotive Market?
Leading Locomotive Companies Innovate With Next-Generation Hybrid Locomotives For Sustainable And Efficient Rail Transport
Major companies operating in the locomotive market are focused on developing advanced products such as next-generation hybrid locomotives to reduce emissions, improve fuel efficiency, and enhance operational flexibility by combining the benefits of electric and diesel propulsion systems. Next-generation hybrid locomotives are advanced rail vehicles that integrate multiple propulsion systems, representing a significant step forward in the rail industry's efforts to create more sustainable and efficient transportation solutions.
How Is The Global Locomotive Market Segmented?
The locomotive market covered in this report is segmented -
1) By Type: Diesel, Electric, Other Types
2) By Component: Rectifier, Inverter, Traction Motor, Alternator, Other Components
3) By Technology: IGBT Power Module, GTO Thyristor Module, SiC Power Module
4) By End-User: Freight, Passengers, Other End-User
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How Is The Competitive Landscape Of The Global Locomotive Market?
Major companies operating in the locomotive market are Siemens AG, Tata Motors Limited, CRRC Corporation Limited, Mitsubishi Heavy Industries Ltd., Toshiba Corporation, Alstom SA, Kawasaki Heavy Industries Ltd., Knorr-Bremse AG, Wabtec Corporation, Transnet SOC Ltd., Stadler Rail, Progress Rail, Hyundai Rotem Co., Strukton Rail B.V., Hitachi Rail, KONČAR - Elektroindustrija d.d., Pesa SA, Brookville Equipment Corporation, Akiem SA, Škoda Transportation a.s., PT Industri Kereta Api (Persero), Bombardier Transportation, Taiwan Rolling Stock Company
Contents Of The Global Locomotive Market
1. Executive Summary
2. Locomotive Market Report Structure
3. Locomotive Market Trends And Strategies
4. Locomotive Market - Macro Economic Scenario
5. Locomotive Market Size And Growth
…..
27. Locomotive Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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