Locomotive market will grow at a CAGR of 2.74% in the forecast period of 2021 to 2028. Increase in urbanization is an essential factor driving the locomotive market.
In order for rail cars to move, locomotives must provide the necessary power. However, because locomotives can also transport payloads, this is preferable to having several locomotives attached to various rail vehicles that are unable to move independently. Instead of being used for freight, these systems are typically favoured for passenger rail transit networks. Growing environmental concerns are a significant factor accelerating market growth, as are other factors such as rising demand for advanced power components, modernization of the market leading to lighter locomotives, rising demand for energy-efficient rolling stock, ongoing infrastructure expansion of rail networks, and rising technological advancements such as the introduction of the SiC module, IGBT module, and auxiliary power units.
A mining locomotive is a heavy-haul freight train used in underground or opencast mines. They may be diesel-powered, use electric power from an electrified third rail at some of the mine’s sections, or run on steam power tapped from burning coal seams. The newest analysis available from & Consulting focuses on the locomotive market’s size, share, growth rate, and market trends, as well as the variables and factors that affect it both in the short and long term. In order to evaluate its present and future possibilities, the paper looks into the trends in the locomotive market. Additionally, our analysis of the locomotive market offers market participants and recent entrants a thorough picture of the competitive landscape. In terms of Locomotive Industry revenue, sales, export, or import, this study offers an analytical assessment of the key problems that could materialize in the market.
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Segmentations:
Global Locomotive Market: Major Players
CZ LOKO, a.s.
Toshiba International Corporation
Hyundai Corporation
Wabtec Corporation
Alstom
Bombardier Transportation
Hitachi Ltd
AEG Power Solutions
Siemens Mobility
CRRC Corporation Limited
Global Locomotive Market: By Types
Diesel
Electric
Electro-diesel
Others
Global Locomotive Market: By Applications
Freight
Passenger
Others
Global Locomotive Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Locomotive market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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Growth Factors:
Due to the decreased costs of raw material extraction, which is a crucial component of market growth, mining companies switch from operating underground mines to open cast ones. For instance, over 97% of copper is currently mined today using an open pit method, up from over 95% in the past. Due to the rise in demand, suppliers will be able to raise their spending. Due to their reduced dependence on diesel fuel and environmental friendliness, electric locomotive utilization is on the rise. Additionally, compared to steam or diesel locomotives, their speed offers a number of advantages, including greater safety features for nearby workers and a more dependable power source.
This report examines all the key factors influencing growth of global Locomotive market, including demand-supply scenario, pricing structure, profit margins, production and value chain / ecosystem analysis. Regional assessment of global Locomotive market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, scope of NPD in new markets, pricing strategies, innovation possibilities and much more.
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