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Locomotive Market Size 2020: Global Projection, Solutions, Services Forecast to 2025

Apr 16th 2020 at 10:06 AM

Locomotive Market Size – Overview

Builders are ramping up production and at the same time continuing to tweak product lines in order to meet railroads efficiency and environmental-compliance needs along with demands for enhanced electronics associated with distributed power initiatives and positive train control (PTC) implementation.   

Increasing rate of urbanization is contributing towards the growth of locomotive industry among the general public. Expansion of rail networks in majority of developed as well as developing nations as well as increasing concern amongst the individuals regarding environmental sustainability has lead to a positive impact on the global locomotives market. Significant investment by authorities across the globe in development of railway infrastructure for freight and high speed trains has also resulted in the growth of global Locomotive Market Size.

Diesel Locomotive Market Size is also growing significantly. Majority of the revenue is generated from the after-sales market which encompasses repair and maintenance of the approximately 120,000 diesel locomotives operated worldwide.

Increasing transport demand, as well as fleet refurbishments and new product platforms will spur the global Locomotive Market Size. A substantial proportion of locomotives are either operated solely for freight or used universally. The proportion of units used specifically for passenger transport has declined rapidly in the last few years.

The major trend in the market is the increase in the use of autonomous locomotive engines for long distance transport. Increasing preference for non-polluting and energy-efficient transport is majorly driving the growth of the market. Also, the growth of the market is driven by the increasing government expenditure on developing rail systems for public transport.

Locomotive Market Size – Competitive Analysis

The global Locomotive Market Size was significantly affected by the economic downturn in 2008-2010. Many operators chose to rehabilitate old locomotives instead of acquiring new ones. Companies such as Alstom or Siemens signed valuable contracts with the national Russian operator RZD.

Product innovation and a widespread need for fleet renewal will drive the electric Locomotive Market Size. An increasing trend towards local suppliers is evident in Eastern Europe. New electric locomotive manufacturers with their production facilities include Pesa and ZNLE in Poland, the Czech manufacturer Skoda, and Tülomsas in Turkey.

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Industry/ Innovation/ Related News:

Dec 2017- Bharat Heavy Electricals Limited has bagged Rs9900mn contract for the manufacture and supply of 150 electric locomotives from Indian Railways. The company is already executing an order for 50 numbers of similar rating locomotives for Indian Railways. These locomotives will have many firsts like ergonomically designed AC cabins for the comfort of drivers; tri-plate console for brake system resulting in compact and clean layout; state-of-the art cable management system with EPDM modules, etc.

December, 2017- Bombardier and Mercitalia Rail Signed Contract for 40 TRAXX DC3 Locomotives and Long-Term Fleet Maintenance Service. It also includes options for up to 20 additional locomotives and maintenance services, as well as an option for additional eight years of maintenance on the whole fleet.

December, 2014-  State-owned China CNR Corporation Limited (CNR) and China South Locomotive & Rolling Stock Corporation Limited (CSR) merged to form a single company- China Railway Stock Corp. (CRRC) which was valued at USD 26 billion. All existing contracts nationally and internationally were transfered to CRRC, including orders worth USD 275 million from Argentina and a USD 570 million contract to supply passenger cars for Boston’s subway system.

Locomotive Market Size – Segmentation

The Locomotive Market Size can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Technology - conventional locomotive, turbocharged and MAGLEVS
Segmentation by Application - Passenger and Freight
Segmentation by Regions: North America, Europe, APAC and Rest of the World.

Locomotive Market Size – Regional Analysis

The Asia-Pacific region is estimated to dominate the Locomotive Market Size and is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the improving socio-economic conditions in developing countries such as China, India, Indonesia, and Thailand. The increased populations in countries such as China and India has resulted in increase in need for public transport, which in turn results in an increase in the number of government rail projects.

The largest national fleets of electric locomotives are found today in China, Russia and India followed by Germany, Italy and France.

In Western Europe, demand will always exist for new electric locomotives due to the overall size of the region's fleet, while Europe's high prices ensures it remains important for total market volume.

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