DUBLIN--(BUSINESS WIRE)--The "Hybrid Train Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The hybrid train market (henceforth referred to as the market studied) is anticipated to register a CAGR of about 6.23% during the forecast period (2020 - 2025).
Train transportation is one of the major transportation modes for any country for both passengers and cargo. However, trains have their own impacts on the environment as trains produce nitrogen dioxide, carbon dioxide, and particulate matter that can contribute to air pollution and negative health effects. To reduce the effects of train on environment companies are coming up with new innovations through which this effect can be reduced such as hybrid trains.
Globally, there's a trend toward greener forms of transport supported by new government regulations, the green transportation trend is penetrating through all the transportation modes such as air transportation, ships, trains, cars and trucks. These factors are likely driving the hybrid train demand over the forecast period.
Key Market Trends
Electro Diesel Segment Held the Largest Market Share in 2019
- In Poland, during 2018, PKP Cargo, Pesa, and the TABOR Institute of Rail Vehicles signed an agreement at InnoTrans to develop an automated electro-diesel locomotive.
- PKP Cargo and Pesa are expected to create a design based on Pesa's Gama locomotive platform, which will be verified by TABOR. Following the testing by PKP Cargo, the locomotive is anticipated to be commissioned in 2022.
- The vehicle is expected to operate with GoA 3. Sensors, cameras, and gyroscopes will be fitted, and the input data will be analyzed using artificial intelligence.
- In Spain, the European Investment Bank (EIB) approved a EUR 100 million loan in 2019 to part-finance the planned EUR 201 million procurement of 26 electric and 5 electro diesel trainsets for RENFE. The depots at El Berrn and Santander are expected to be modernized as part of the project.
- In December 2019, CRRC Corporation Limited and the Philippine Secretary of the Department of Transportation signed a contract. According to this contract, the Philippine National Railways (PNR) will purchase three trains from CRRC. The diesel electric multiple unit trains are expected to have a design speed of 120 km/h.
Asia-Pacific is Likely to Lead the Hybrid Train Market during the Forecast Period
The Hybrid Train market is anticipated to dominated by Asia-Pacific due to several ongoing projects to launch the hybrid trains in the region. Asia-Pacific is also one of the biggest markets for the rail industry and the demand for greener trains is growing in the region. The Asia Pacific comprises emerging economies such as China and India along with developed economies such as Japan. The implementation of new technologies and the establishment of new government regulations are driving this market in this region.
Over the past decade, China experienced large-scale and rapid urban rail transit development. Urban rail transit in China is developing toward a networked structure, intellectualized equipment, diversified systems, and innovative technology in recent years. The trend is shifting toward the adoption of large-capacity subways in the central areas of super cities and megacities, with the adoption of the medium-capacity monorail, inner-city rapid rail transit, and magnetic suspension trains, between central urban areas and remote towns.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Challenges
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.4 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Propulsion
5.1.1 Battery Operated
5.1.2 Electro Diesel
5.1.3 Hydrogen Powered
5.1.4 Other Propulsion Types (Solar Powered, Gas Powered, etc.)
5.2 By Application
5.3.1 North America
5.3.3 Asia Pacific
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 CRRC Corporation Limited
6.2.2 Bombardier Inc.
6.2.3 Alstom SA
6.2.4 Kawasaki Heavy Industries Ltd.
6.2.5 Siemens AG
6.2.6 Wabtec Corporation
6.2.7 Hyundai Rotem
6.2.8 Hitachi Ltd.
6.2.9 Construcciones Y Auxiliar De Ferrocarriles (CAF)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/4hurye