It is projected that the locomotive market size would expand at a compound annual growth rate (CAGR) of 3.5%, with a projected growth of US$5 billion by 2025. Growing mining activity and rising economies in emerging nations are the main drivers of the worldwide locomotive market. These elements are anticipated to fuel expansion and have shaped the locomotive market. Businesses in the locomotive industry may also have to deal with issues including risk aversion and large upfront costs.
All facets of the business are covered in detail in the locomotive market study. The research includes growth forecasts from analysts analyzing the locomotive industry, and they advise businesses in the market to adjust their business plans accordingly.
Market Segmentation
The global locomotive market has been segmented based on technology, type, and component. On the basis of type, the market for locomotive is segmented based on diesel, electric and others. Additionally, the market on the basis of technology, is segmented into IGBT Module, GTO Thyristor and SiC Module. The global market for locomotive is also covered based on the component segment which is further split into rectifier, inverter, traction motor, alternator and others.
Factors like technological upgradation in locomotives and growing population support the locomotive market growth. The performance of the locomotive market has also been studied for the past and current years. Additionally, the locomotive market report provides analysis of these segments. The locomotive market segmental analysis provided in the report offers major details about the locomotive market based on the data and forecasts till 2025.
Regional Overview
Companies in the locomotive market are spread across the world. The locomotive market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American locomotive market has many companies across the United States, Canada, and Mexico. The locomotive market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the locomotive market can be found in the market research report. Europe has companies in the locomotive market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the locomotive market across India, China, and Japan in the Asia-Pacific region is also presented in the report.
Competitive Landscape
The locomotive market is supported by increasing use of technology across different industry verticals. The population growth around the world and increasing demand of locomotive market based services and products also support the market growth. However, the locomotive market growth can be affected due to capital-insensitivity of railway vehicles. The report covers all such details which will help companies in the locomotive market to strengthen their business plan and improve their product portfolio.
The locomotive market size research report also provides company profiles of major companies. The company profiles of many organizations operating in the locomotive market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the locomotive market. New companies and established businesses can plan their strategies based on this data provided in the locomotive market research report.
Industry News
Bulgarian railway company BDZ Passengers reported that the first of 20 electric engines to be revamped had been obtained and placed into service. The company also plans to acquire another locomotive in the coming months, as stated in an official statement. Consortium Railway Services consists of the Czech-based Ceskomoravska Zeleznicni Opravna, which owns an 83% stake, and the Bulgarian TBD-Tovarni Prevozi.
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