Press release
Electric Locomotives Market Size to Reach $3.23 Billion by 2029 | Growth at 7.8% CAGR Forecast
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.What is the Projected Market Size of the Electric Locomotives Industry?
The market size for electric locomotives has seen significant growth in recent years. Expected to expand from $2.13 billion in 2024 to $2.39 billion in 2025, it predicts a compound annual growth rate (CAGR) of 11.9%. This surge during the historic period can be traced back to the escalating preference for transport options that are both energy-efficient and pollution-free, a growing demand for freight services, robust economic progress in emerging markets, and heightened sector-based investment in electric locomotives.
What Will Be the Size of the Electric Locomotives Market by 2029?
The market size for electric locomotives is anticipated to experience robust growth in the forthcoming years and is projected to reach $3.23 billion by 2029, with a compound annual growth rate (CAGR) of 7.8%. This growth in the projected period is due to a rising inclination towards efficient systems that are free from pollution, an upswing in digitalization, and an increase in the number of cutting-edge electric locomotive projects. The forecast period will see some significant trends, such as enhancements in power supply, strategic alliances, research and development, the introduction of the dual mode in electric locomotive trains, and ai-powered driver assistance systems in locomotives.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/electric-locomotives-global-market-report
What Are the Key Drivers Accelerating Growth in the Electric Locomotives Market?
The rise in demand for non-polluting and energy-efficient modes of transport is fueling the expansion of the electric locomotives market. As stated by the UK Department of Transport, electric locomotives often boast an efficiency of approximately 90% thanks to innovations like regenerative braking, which aids in energy conservation during braking. Moreover, compared to diesel-powered alternatives, these emit 20%-35% less per passenger mile, contributing significantly to carbon emission reduction. The concern for an eco-friendly environment is prompting the need for cleaner and more energy-efficient transport methods, consequentially propelling the growth of the electric locomotives market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3197&type=smp
How Is the Electric Locomotives Market Segmented by Type, Application, and Region?
The electric locomotives market covered in this report is segmented -
1) By Energy Transfer: Overhead Lines, Third Rail, On-Board Energy Storage
2) By Technology: IGBT Module, GTO Thyristor, SiC Module
3) By Traction Units: AC Traction Units, DC Traction Units, Multi System Units
4) By Application: Passenger Transport, Freight Transport
Subsegments:
1) By Overhead Lines: Catenary System Locomotives, Pantograph-Equipped Electric Locomotives
2) By Third Rail: Electric Locomotives Using Third Rail Systems, Dual-Power Locomotives
3) By On-Board Energy Storage: Battery Electric Locomotives, Hybrid Locomotives with On-Board Energy Storage Systems
What Are the Key Trends Driving Growth in the Electric Locomotives Market?
The increasing adoption of dual-mode locomotive electric trains is anticipated to be a significant trend propelling the growth of the electric locomotives market within the forecasted period. In May 2022, Navdoot, a dual-mode locomotive that operates on battery power, was introduced by the Indian West Central Railways. Both electricity and batteries are utilized to fuel this engine.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=3197&type=smp
Who Are the Leading Companies Driving Growth in the Electric Locomotives Market?
Major companies operating in the electric locomotives market include CRRC Corporation Limited, Hitachi Ltd, Kawasaki Heavy Industries, Siemens AG, Stadler Rail AG, Wabtec Corporation, Bharat Heavy Electricals Limited, Toshiba Corporation, Alstom S. A, Hyundai Rotem, Banaras Locomotive Works, China Railway Corp, CZ LOKO, ZOS Vrutky a.s, ZEPHIR, Schalke Locomotives GmbH, Vossloh Locomotives GmbH, SOFTRONIC Ltd, PESA Bydgoszcz SA, Faur SA, Newag SA, Bombardier Inc, General Electric Company, Transmash holding AG
Which Is the Leading Region in the Global Electric Locomotives Market?
Western Europe was the largest region in the electric locomotives market in 2024. Asia-Pacific was the second largest region in the global electric locomotives market share. The regions covered in the electric locomotives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@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 Electric Locomotives Market Size to Reach $3.23 Billion by 2029 | Growth at 7.8% CAGR Forecast here
News-ID: 4173202 • Views: …
More Releases from The Business Research Company

Top Market Shifts Transforming the Rainwater Harvesting Systems Market Landscape …
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 Rainwater Harvesting Systems Market Through 2025?
Over the past few years, there has been substantial growth in the market size of rainwater harvesting systems. The industry, which was valued at $1.94 billion in 2024, is predicted to rise to $2.07 billion by…

Live Concerts Fueling Surge In Percussion Instruments Market Growth: Transformat …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Percussion Instruments Industry Market Size Be by 2025?
Over the past few years, the market size of percussion instruments has examined a steady rise. With an increase from $1.44 billion in 2024 to $1.47 billion in 2025, it expects a Compound Annual Growth Rate (CAGR) of…

Emerging Trends to Drive Hydraulic Equipment Market Growth at 3.5% CAGR Through …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Hydraulic Equipment Market Size Growth Forecast: What to Expect by 2025?
The size of the hydraulic equipment market has consistently increased in the past few years. Projections show that it will rise from $45.21 billion in 2024 to $46.86 billion in 2025, recording a compound annual growth rate (CAGR)…

Emerging Trends to Reshape the Fishing Drones Market: Innovative Advancement In …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Fishing Drones Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of fishing drones has seen a swift increase in the past few years. An expansion from $0.89 billion in 2024 to $0.99 billion in 2025, representing a compound annual growth rate (CAGR)…
More Releases for Locomotive
Locomotive Market Is Booming Worldwide 2025-2032
Global Locomotive Market size was valued at USD 10.09 billion in 2023 and is poised to grow from USD 10.87 billion in 2024 to USD 19.67 billion by 2032, growing at a CAGR of 7.7% during the forecast period (2025-2032).
The Research report on Locomotive Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing…
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…