Press release
Driving Forces Behind the Growing Locomotive Market and Rail Transport Demand Driver: A Major Catalyst in the Evolution of the Locomotive Market in 2025
Locomotive Market Size
The rising demand for rail transport is expected to drive the locomotive market. Rail transport is known for its efficiency, especially in freight, and is supported by government policies and infrastructure investments. Locomotives are essential for operating railways, moving goods and passengers over long distances. For example, passenger travel on European railways increased from 260 billion passenger-kilometers in 2021 to 393.37 billion passenger-kilometers in 2022, according to Eurostat. Thus, the growing demand for rail transport is stimulating the locomotive market.
Get Your Locomotive Market Report Here:
https://www.thebusinessresearchcompany.com/report/locomotive-global-market-report
How will the growth rate of the locomotive market shape industry trends by 2034?
The locomotive market will expand from $21.7 billion in 2024 to $23.8 billion in 2025 at a CAGR of 9.7%, supported by growing transportation needs, hybrid-electric advancements, and global rail infrastructure investments.
The locomotive market is projected to grow significantly, reaching $33.95 billion by 2029 at a CAGR of 9.3%. Growth drivers include safety concerns, rising traffic congestion, demand for public transport, urbanization, and increased reliance on rail transport. Emerging trends include rail network electrification, investments in advanced locomotive technologies, digitalization, AI adoption, and railway management system enhancements.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=17189&type=smp
What trends are poised to drive the future success of the locomotive market?
Companies in the locomotive market are focused on developing next-generation hybrid locomotives that combine electric and diesel propulsion systems to reduce emissions, improve fuel efficiency, and increase operational flexibility. These hybrid locomotives represent a significant advancement in sustainable rail transportation. In May 2024, CRRC Corporation Limited, a China-based manufacturer of rolling stock, introduced the Ten six-axle FXN3B locomotives, a new generation of hybrid locomotives. These modular locomotives began shunting operations in Beijing, showcasing technological progress and simplifying maintenance with their standardized design.
Which primary segments of the locomotive market are driving growth and industry transformations?
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
Subsegments:
1) By Diesel: Diesel-Electric Locomotives, Diesel-Hydraulic Locomotives
2) By Electric: Overhead Electric Locomotives, Third Rail Electric Locomotives
3) By Other Types: Hybrid Locomotives, Battery-Powered Locomotives
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=17189
Which geographical regions are pioneering growth in the locomotive market?
Asia-Pacific was the largest region in the locomotive Market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the locomotive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the locomotive market landscape?
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
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=17189&type=smp
What Is Covered In The Locomotive Global Market Report?
•Market Size Forecast: Examine the locomotive market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the locomotive market for a structured understanding.
•Key Players Overview: Analyze major players in the locomotive market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the locomotive market.
•Segment Contributions: Evaluate how different segments drive overall growth in the locomotive market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the locomotive market.
•Industry Challenges: Identify potential risks and obstacles affecting the locomotive market.
•Competitive Landscape: Review strategic developments in the locomotive market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Driving Forces Behind the Growing Locomotive Market and Rail Transport Demand Driver: A Major Catalyst in the Evolution of the Locomotive Market in 2025 here
News-ID: 3927080 • Views: …
More Releases from The Business Research Company
C-X-C Chemokine Receptor Type 2 Market on Track for Strong Growth, Estimated to …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the C-X-C Chemokine Receptor Type 2 Market Through 2025?
There has been a significant expansion in the market for C-X-C chemokine receptor type 2 in the past few years. The market is projected to increase from $1.24 billion in 2024 to $1.38 billion…
Top Market Shifts Transforming the Coenzyme Q10 Market Landscape: Key Insights
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Coenzyme Q10 Market Through 2025?
The market size of coenzyme Q10 has seen impressive expansion in the past years, with predictions stating an increase from $0.74 billion in 2024 up to $0.84 billion in 2025, implying a compound annual growth rate (CAGR)…
2025-2034 Chimeric Antibody Market Evolution: Disruptions, Innovations, and Unta …
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Chimeric Antibody Market Through 2025?
In recent times, there has been a swift expansion in the chimeric antibody market size. We can expect an increase from $12.27 billion in 2024 to $13.74 billion in 2025, reflecting a compound annual growth rate (CAGR)…
2025-2034 Chimeric Antibody Market Evolution: Disruptions, Innovations, and Unta …
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Chimeric Antibody Market Through 2025?
In recent times, there has been a swift expansion in the chimeric antibody market size. We can expect an increase from $12.27 billion in 2024 to $13.74 billion in 2025, reflecting a compound annual growth rate (CAGR)…
More Releases for Locomotive
Locomotive Market: Opportunities, Trends and Key Players
The locomotive market forms a critical part of the global railway infrastructure, enabling efficient freight and passenger transportation across vast geographies. As countries invest in modernizing rail networks and adopting greener transportation solutions, the demand for technologically advanced and energy-efficient locomotives continues to grow.
With a strong push toward sustainability, electrification, and digitalization, the locomotive industry is undergoing a fundamental transformation. This article provides a comprehensive overview of the current state…
Prominent Locomotive Maintenance Market Trend for 2025: Integration Of AI Train …
How Are the key drivers contributing to the expansion of the locomotive maintenance market?
The increasing demand for rail transport is also expected to propel the growth of the locomotive maintenance market. Rail transport is gaining popularity due to its cost-effectiveness and environmental sustainability. Locomotive maintenance ensures the reliability and efficiency of rail systems, preventing breakdowns and delays. According to Eurostat, rail passenger transport in the EU surged by 50.9% in…
Narrow Gauge Electric Locomotive Market Size, Share and Forecast By Key Players- …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- According to the MRI Team's Market Research Intellect, the global Narrow Gauge Electric Locomotive market is anticipated to grow at a compound annual growth rate (CAGR) of 10.75% between 2024 and 2031. The market is expected to grow to USD 68 Billion by 2024. The valuation is expected to reach USD 138.97 Billion by 2031.
The Narrow Gauge Electric Locomotive market is experiencing steady growth, driven by the…
Locomotive Market : Research Observes Strong CAGR Development
The "Global Locomotive Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024", report intends to offer a resourceful means to assess the Locomotive Market and entails the all-inclusive analysis and upfront statistics with regards to the market. This new report is committed fulfilling the requirements of the clients by giving them thorough insights into the market. The Locomotive Market report, titled Locomotive Market, is expansive research…
Smart Locomotive Market: Asia Pacific is prophesied to account for a telling sha …
Global Smart Locomotive Market: Overview
The global smart locomotive market is anticipated to gather pace in its growth with increase in the revamping of aged transmission and distribution infrastructure. Strong investment in smart energy and grid systems and increasing digitalization of power utilities could set the tone for valuable growth of the global smart locomotive market. Improvement in technology and rising focus on the production of alternative energy around the world…
Locomotive Engine Suspension Market Forecast By 2025
A locomotive is a rail transport vehicle that provides the motive power for a train. A locomotive usually does not have a payload capacity of its own, and its sole purpose is to transport the train along the tracks. Some trains have a self-propelled payload-carrying vehicle.
These are not considered as locomotives; they are referred to as railcars, multiple units, or motor coaches. A locomotive suspension consists of a system…
