A locomotive is a powerful rail vehicle that provides the motive power for a train. Its primary function is to generate and transmit the mechanical force needed to move the train along the tracks. Locomotives are typically equipped with one or more engines, which can be powered by diesel, electricity, or steam.
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Top Key Players for Locomotive Market:
Strukton, Alstom, AEG Power Solutions B.V., Siemens, TOSHIBA CORPORATION, CRRC, Hitachi Ltd., Bombardier, Bharat Heavy Electricals Limited, Wabtec Corporation, Metso Corporation, Brookville Equipment Corporation and Other major player.
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Market Dynamics and Factors for the Locomotive Market:
Drivers:
Increasing Freight Transportation and E-commerce Logistics to Drive Market Growth
With a growing population leading to transportation challenges such as traffic congestion and pollution, railways have become a vital mode of daily city and intercity travel. Mass rail transit offers cost-effective and time-saving commuting. For example, in 2021, China saw a 2.61 billion increase in train commuters, marking an 18.5% rise from 2020 when 2.53 billion commuters were recorded. This surge in train passengers is expected to boost the locomotive market. Expanding urban areas create a strong demand for expanding rail networks, leading to new locomotive needs. Governments worldwide are investing significant capital in railway development, further driving market growth.
Opportunities:
Government Initiatives
Government initiatives play a crucial role in fostering the adoption and development of locomotives in different regions. Supportive policies and incentives, such as subsidies for eco-friendly locomotives or investment in railway infrastructure, encourage the growth of the locomotive market. These initiatives not only stimulate industry innovation but also contribute to more sustainable and efficient transportation solutions, aligning with broader environmental and economic goals.
Segmentation Analysis of the Locomotive Market:
By Type
· Rigid
· Semi-rigid
· Flexible
By Motive Power
· Gas Turbine Electric
· Steam Diesel Hybrid
· Diesel
· Atomic Electric
· Steam
· Others
By Application
· Passenger
· Freight
· Switcher Locomotives
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By Regional Outlook
· North America (US, Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In March 2020, Alstom has signed a Memorandum of Understanding (MOU) for the acquisition of Bombardier Transportation with Bombardier Inc. and the Caisse de dépôt et placement du Québec ("CDPQ"). The total cost of acquiring all of Bombardier Transportation's shares is expected to be roughly €6 billion.
In March 2020, at a Future of Shunting Locomotives conference, CZ Loko unveiled three new hybrid locomotive concepts: the DualShunter 2000, EffiLiner 2000, and DualLiner 2000. These models were expected to hit the track by 2023.
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