LONDON--(BUSINESS WIRE)--Technavio projects the global auxiliary power systems for rolling stock market to post a CAGR of over 5% during the forecast period. Growth in railway electrification is a key driver which is expected to impact market growth. There are two major benefits of rail electrification which include its economic viability and environment-friendly nature. There is a significant reduction in emissions due to railway electrification.
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In this report, Technavio highlights the emergence of Maglev trains as one of the key emerging trends in the global auxiliary power systems for rolling stock market:
Emergence of Maglev trains
Magnetic levitation trains commonly referred to as Maglev trains, use magnetic suspension to move the vehicle without making contact with the track. In maglev trains, a magnetized coil runs along the track, also known as the guideway. This magnet along the tracks repels the large magnet fitted on the train's undercarriage. The repelling action allows the train to levitate between 1 to 10 cm above the guideway. Once the train is levitated, the coil within the guideway walls is supplied with power, which creates a system of magnetic fields that push and pull the train along the guideway. The electric current that flows through the guideway walls constantly changes the polarity of the magnetized coils. This allows the magnetic field in front of the train to pull the vehicle forward, while the magnetic field behind the train pushes it forward.
“Since maglev trains do not touch the track, the constraints of friction are eliminated. Thus, these trains can achieve speeds of more than 500 kilometers per hour. The absence of friction also reduces the maintenance and operation costs, as there is no wear and tear of wheels. Maglev trains are currently being operated in Shanghai, China; Linimo, Japan; and Incheon, South Korea. In addition, there are maglevs under construction in Israel, parts of China, and Japan,” says a senior analyst at Technavio for unit operations research.
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Market segmentation and analysis through 2022
This market research report segments the global auxiliary power systems for rolling stock market by product (rapid transit vehicles, locomotives, and railroad cars) and key regions (the Americas, APAC, and EMEA).
In 2017, EMEA dominated the global auxiliary power systems for rolling stock market with a share of around 49%, followed by the Americas and APAC. Although APAC accounted for the smallest share of the market, it is expected to post the highest growth during the forecast period in comparison to the other two regions.
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