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

Outboard Boats Market on Path to Hit $9.41 Billion by 2029 at 8.9% CAGR
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Outboard Boats Market Outlook: What Size And CAGR Are Anticipated By 2025?
Over the past years, the market size of outboard boats has significantly increased. It is forecasted to rise from $6.2 billion in 2024 to $6.69 billion in 2025, experiencing a compound annual growth rate (CAGR) of 7.9%. Factors…

Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interior …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Projected CAGR for the Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market from 2024 to 2025?
The size of the motor vehicle electrical & electronic equipment, steering suspension, & interiors market has seen substantial expansion in the past few years. A rise from $507.81 billion in…

Hybrid Train Market to Record 6.7% CAGR Growth Through 2029 | Global Analysis Re …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Hybrid Train Market Outlook: How is the Market Expected to Grow by 2025?
The market size for hybrid trains has seen a steady increase in recent times. Its expansion is anticipated to progress from $18.52 billion in 2024 to around $19.63 billion in 2025, boasting a compound annual growth rate…

Global Electric Utility Vehicle Market Expansion at 7.6% CAGR, Valued at $21.31 …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
What Are the Electric Utility Vehicle Market Size Forecast for 2025?
The market size for electric utility vehicles has witnessed considerable growth in the past few years. The sector is expected to expand from a value of $14.92 billion in 2024 to $15.91 billion in 2025, reflecting a compound annual…
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…