Locomotive Market 2019 research report published by Market Research Future, The Global Locomotive Market to grow at moderate 3.5% CAGR and reach USD 5 Bn market value during 2019 to 2023. Locomotive Market is segmented by vehicle technology, component, type and Regional Forecast to 2023.
Global Locomotive Market Competition Analysis:
Some of the leading companies operating in the global market for AEG Power Solutions (Germany), Alstom S.A (France), Transmashholding (Russia), Kawasaki Heavy Industries (Japan), Bombardier Transportation (Canada), CRRC Corporation Limited (China), Stadler Rail (Switzerland), EMD Caterpillar (US), GE Transportation (US) and Siemens AG (Germany).
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Market Highlights:
Locomotive continues to the force that drive the global railway transport sector. Locomotive demand has increased partly owing to the expansion of the railway sector in third-world countries around the global. However, emerging economies remain the key destination for market players. As per the report published by Market Research Future (MRFR), the global locomotive market is set to exhibit a CAGR of 3.5% between 2018 and 2025.
Toward the end of the assessment period the market is expected to reach a valuation of USD 5 Bn. The first locomotive systems where basically powered by steam whereas most locomotives today run on electricity or diesel. The rolling stock industry has witnessed significant technological transformation over the years. Modern locomotives are more powerful and faster. Locomotive are used hauling both passenger and freights.
The global locomotive market is befitting from the rapid urbanization in developing countries around the world. Over the years, there has been a significant expansion in rail networks across both developed and developing countries, which has boosted the demand for locomotive. Increased focus on improving rail transportation infrastructure especially in developing countries has reflected favourably on the global locomotive market. Development high-speed freight corridor and passenger rail system in order to improve the railway transport services has to need for superior locomotives.
The primary growth drivers of the locomotive market include advances in locomotive systems, robust industrial growth, and economic stability. Emergence of data-driven maintenance services and e-mobility technology is likely to the influence the locomotive market. The autonomous locomotive engines are drawing significant commercial interest owing to their market potential. Emphasis is also being placed on developing energy-efficient and eco-friendly railway locomotives. Nevertheless, locomotive manufacturing remains a capital-intansive business, which is a major entry barrier for small-size companies with limited funds. As a result, the market remains accessible to an exclusive number of companies and thereby limiting the competition.
Global Locomotive Market Segmental Analysis:
The segmental analysis of the market has been conducted based on technology, component, type and region.
By technology, key segments include SiC Module, GTO Thyristor and IGBT module. Of the three segments, the IGBT segment is anticipated to exhibits an impressive growth over the next several years. By component, key segments include inverter, rectifier, alternator, tractor motor and others. In terms of value, the rectifier segment currently accounts for a sizeable share of the market and is likely to remain high profitable during the projected period. By type, key segments include electric, diesel and others. In terms of value, the electric segment holds a significant market share.
Global Locomotive Market: Regional Analysis:
On the basis of region, the market has been segmented into Asia Pacific (APAC), Europe, North America and the rest of the world (RoW). APAC dominates the global locomotive market in terms of value. APAC is likely to retain its dominant position throughout the assessment period. The fast-expanding customer base in the region due to rapid economic growth in countries such as India and China is supporting the market growth.
Asia Pacific is followed by Europe, which is the second largest market for locomotive in the world. The market in Europe is expected to remain highly attractive during the assessment period.
North America is expected to remain in the radars of market players. The US makes a sizable contribution to the North America locomotive market in terms of revenue.
Table of Contents:
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Vehicle Type
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Sales Channel
3. Market Landscape
3.1. Porters Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
4. Market Dynamics
4.1. Introduction
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
Continued…
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