The Business Research Company’s latest report Electric Locomotives Global Market Report 2020 covers Electric Locomotives market drivers, Electric Locomotives market trends, Electric Locomotives market segments, Electric Locomotives market growth rate, Electric Locomotives market major players, and Electric Locomotives market size. The report provides in-depth analysis of the impact of COVID-19 on the Electric Locomotives industry, along with revised market numbers due to the effects of the coronavirus.
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Electric Locomotives Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global electric locomotives market is expected to decline from $6.53 billion in 2019 to $6.4 billion in 2020 at a compound annual growth rate (CAGR) of -1.99%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and all travel and transport activities. The market is then expected to recover and reach $7.85 billion in 2023 at CAGR of 7.06%.
The report covers the Electric Locomotives market’s segments-
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.
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