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 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.
- General Electric
- OSRAM SYLVANIA
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