DUBLIN--(BUSINESS WIRE)--The "Electric Locomotives Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global electric locomotives market.
This report focuses on electric locomotives market which is experiencing strong growth. The report gives a guide to the electric locomotives market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global electric locomotives market is expected to decline from $6.53 billion in 2019 to $6.4 billion in 2020 at a compound annual growth rate (CAGR) of -1.99%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and all travel and transport activities. The market is then expected to recover and reach $7.85 billion in 2023 at CAGR of 7.06%.
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The electric locomotives market consists of sales of electric locomotives which provide motive power to trains with no payload capacity, and their only use is to pull trains along the tracks. The sales consist of revenue generated by establishments that are primarily engaged in the manufacturing of locomotives and its components such as electric motors, transformer, inverter, and compressor.
The electric locomotives market covered in this report is segmented by energy transfer into overhead lines; third rail; on-board energy storage. It is also segmented by technology into IGBT module; GTO thyristor; SIC module, by traction units into AC traction units; DC traction units; multi system units and by application into passenger transport; freight transport.
The emergence of dual-mode locomotive electric trains will be one of the major trends that will gain traction in the electric locomotive market in the forecast period. In November 2019, Rail systems RP GmbH and Siemens Mobility signed a contract for the supply of two Vectron Dual Mode locomotives that can be operated either as diesel or electric unit. On electrified routes, the Vectron Dual Mode is powered by electricity to save fuel and reduce maintenance costs. Due to their reduced dependence on petrol, the coming years will witness an increased preference for dual-mode trains, which will be one of the major factors propelling the growth of this market.
Increasing preference for non-polluting and energy-efficient transport is contributing to the growth of the electric locomotives market. According to UK Department of Transport, besides highly efficient electric motors in electric locomotives that regularly have efficiency of around 90% due to the advancements such as regenerative braking which can recover energy from braking, they emit 20%-35% less carbon per passenger mile than those enabled by diesel and helps in reduction in carbon emissions. Concerns regarding greener environment resulted in increasing demand for non-polluting and energy-efficient transport systems, thereby driving the electric locomotives market.
Key Topics Covered:
1. Executive Summary
2. Electric Locomotives Market Characteristics
3. Electric Locomotives Market Size And Growth
3.1. Global Electric Locomotives Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Electric Locomotives Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Electric Locomotives Market Segmentation
4.1. Global Electric Locomotives Market, Segmentation By Energy Transfer, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Electric Locomotives Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Electric Locomotives Market, Segmentation By Traction Units, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.4. Global Electric Locomotives Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Electric Locomotives Market Regional And Country Analysis
5.1. Global Electric Locomotives Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Electric Locomotives Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- CRRC Corporation Limited
- Bombardier Inc.
- Alstom SA
- Siemens AG
- Kawasaki Heavy Industries Ltd.
- General Electric Company
- Transmashholding AG
- Stadler Rail AG
- Hitachi Ltd.
- AEG Power Solutions
- Strukton, Bombardier Inc.
- Wabtec Corporation
- Toshiba Corporation
- Metso Corporation
- Brookville Equipment Corporation
- KONAR - Electronics and Informatics Inc.
- A. Stucki Company
- UGL Rail
- Tata Motors
- MITSUI & Co., Ltd (MITSUI)
- KODA AUTO
For more information about this report visit https://www.researchandmarkets.com/r/b27psg