Locomotive Front Lighting System Market - Drivers and Forecasts by Technavio

Technavio has published a new report on the global locomotive front lighting system market from 2017-2021. (Graphic: Business Wire)

LONDON--()--Technavio analysts forecast the global locomotive front lighting system market to grow at a CAGR of almost 2% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global locomotive front lighting system market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers.

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Technavio reports answer key questions relating to market size and growth, drivers and trends, top vendors, challenges, and more. Their analysts continuously monitor and evaluate the market landscape to help businesses assess their competitive position.

Technavio automotive analysts highlight the following three factors that are contributing to the growth of the global locomotive front lighting system market:

Increasing government expenditure into developing public transport

Public transportation provides comfortable and cheaper means of travel wherein the passengers can avoid difficulties of negotiating through heavy traffic conditions on the road. In addition, governments are encouraging the use of public transport for reducing the number of vehicles on the roads and thereby reduce traffic congestion and vehicular pollution.

Siddharth Jaiswal, a lead automotive electronics research analyst at Technavio, says, “The Indian government, along with the power ministry, is planning to electrify about 35,000 km of the railway line by 2023. The ministry estimates to save about USD 3 billion worth fuel in a year by using electric trains and decrease a considerable amount of congestion from the roads.”

Increasing preference for energy-efficient transport

Fluctuating petroleum fuel prices and rising road congestions are driving the need for rail transport of freight. Rail provides a more economical transport of freight over longer distances than the road. Accumulating rates of congestion at highways are the main factors that are detrimental to transporting freight through road.

Freight transport by rail contributes far lesser emissions as compared to road transport. Increasing preference for fuel-efficient and on-time transport for freight are driving the market for electric locomotive engines for freight transportation,” adds Siddharth.

Government regulations over sales of passenger cars

Government regulations on the purchase of new cars force people to choose alternative options for transportation and drive the market for locomotives. Rising pollution levels, increasing rates of traffic congestion, and lack of convenient parking space are driving the governments to place restrictions on the purchase of passenger cars.

Automotive regulations have been imposed in different countries to safeguard consumer interests and to protect the environment. One such regulation is the "zero-emissions vehicle program" of California, which promotes the use of zero-emission hydrogen fuel vehicles.

Top vendors:

  • General Electric
  • OSRAM SYLVANIA
  • Philips

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global locomotive front lighting system market to grow at a CAGR of almost 2% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com