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Locomotive Market to Rise at 10.3% CAGR till 2027; Increasing Investment in Technological Intervention will Bode Well for Market Growth, says Fortune Business Insights™

Written by Customer Service on . Posted in Mergers And Acquisitions.

Pune, July 15, 2020 (GLOBE NEWSWIRE) — The global locomotive market size is projected to reach USD 23.83 billion by the end of 2027. The high investment in the development of sustainable products will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Locomotive Market Size, Share & Covid-19 Impact Analysis, By Technology Type (IGBT Module, GTO Thyristor, and SiC Module), By Propulsion Type (Diesel and Electric) and Regional Forecasts, 2020-2027,” the market was worth USD 18.16 billion in 2019 and will exhibit a CAGR of 10.3% during the forecast period.The recent coronavirus outbreak has brought major businesses to a standstill. The rapid spread of the disease has urged governments to take strict measures. Due to travel bans, locomotive businesses are likely to take a huge hit in the coming years. The report includes the impact on Covid-19 pandemic on the global locomotive market and discusses how major companies are coping with this.
To get to know more about the short-term and long-term impact of COVID-19 on this market,Bombardier Transportation AlstomHitachi LtdAEG Power SolutionsSiemens MobilityWabtec CorporationToshiba International CorporationCZ LOKO, a.s.CRRC Corporation LimitedHyundai CorporationLocomotives are powered engines that are used to pull trains. The ability of this is to carry a payload is what separates it from low-power engines. The force required to pull trains is much higher than normal vehicles and thus, large scale investments are a necessity and not a benefit. The recent technological advances in design as well as structures of locomotives have allowed applications with higher pulling capacities and lower fuel consumption.The massive investment in the railway sector is consequential to the large amount of passengers it can carry. The extensive of railways in densely populated countries such as India will create several growth opportunities for the companies operating in the market. The presence of several large scale companies will emerge in favor of market growth.https://www.fortunebusinessinsights.com/locomotive-market-103285
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of sustainable locomotive projects in major countries across the world will open up a huge potential for rapid growth. The efforts taken to develop and deploy electricity-powered locomotives by governments as well as private companies will emerge in favor of market growth. In March 2018, Alstom announced completion of its all-electric locomotive in Madhepura, Bihar. The company was working on this contract, supposedly worth USD 75 million, since the past few years. This step was initiated by the Indian government, with the rising demand for sustainable energy. This step was consequential to the massive fuel consumption and carbon emission in the densely populated country of India.Asia Pacific to Emerge Dominant; Rising Urbanization and Expansion of Rail Network Will Aid GrowthThe report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific holds the largest market share. The rising urbanization has created the need for sustainable engines. The massive transport industry and the constantly rising railway passengers and train travels will create several opportunities for the companies operating in the regional market. As of 2018, the market in Asia Pacific was worth USD 5.79 billion and this value is projected to increase at a considerable pace in the coming years.The market in Europe is expected to exhibit a steady CAGR in the coming years. The growth of the market in this region is attributable to the presence of several large scale manufacturers in several countries across this region.Industry Developments:March 2018 – Alstom announced the completion of all-electric locomotive at Madhepura, Bihar, India. The contract with the Ministry of Indian Railways is said to be worth USD 75 million.IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey Insights4.1 Merger, Acquisitions, and Partnerships4.2 Distributor Analysis – For Major Players4.3 Growth and Penetration Analysis4.4 Porter’s Five Forces Analysis4.5 PEST Analysis4.6 Vendor LandscapeGlobal Locomotive Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By Technology Type5.2.1 GTO Thyristor5.2.2 IGBT Module5.2.3 SiC ModuleMarket Analysis, Insights and Forecast – By Propulsion Type5.3.1 Diesel5.3.2 ElectricMarket Analysis, Insights and Forecast – By Region5.4.1 North America5.4.2 Europe5.4.3 Asia Pacific5.4.4 Rest of the WorldTOC Continued…!!!
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About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.  At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.
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