Market Research Future (MRFR) has launched a new release on the global Locomotive Market Revenue Size. The report presents a thorough overview of the global Locomotive Market Revenue Size on the back of a detailed analysis of the market’s historical growth trajectory and leading segments. The market’s historical growth trajectory is assessed in detail in the report in order to understand the major factors underlying the market’s growth in the study period. Locomotive Market Revenue – Overview
Builders are ramping up production and at the same time continuing to tweak product lines in order to meet railroads efficiency and environmental-compliance needs along with demands for enhanced electronics associated with distributed power initiatives and positive train control (PTC) implementation.
Increasing rate of urbanization is contributing towards the growth of locomotive industry among the general public. Expansion of rail networks in majority of developed as well as developing nations as well as increasing concern amongst the individuals regarding environmental sustainability has lead to a positive impact on the global locomotives market. Significant investment by authorities across the globe in development of railway infrastructure for freight and high speed trains has also resulted in the growth of global Locomotive Market Revenue.
Diesel Locomotive Market Revenue is also growing significantly. Majority of the revenue is generated from the after-sales market which encompasses repair and maintenance of the approximately 120,000 diesel locomotives operated worldwide.
Increasing transport demand, as well as fleet refurbishments and new product platforms will spur the global Locomotive Market Revenue. A substantial proportion of locomotives are either operated solely for freight or used universally. The proportion of units used specifically for passenger transport has declined rapidly in the last few years.
The major trend in the market is the increase in the use of autonomous locomotive engines for long distance transport. Increasing preference for non-polluting and energy-efficient transport is majorly driving the growth of the market. Also, the growth of the market is driven by the increasing government expenditure on developing rail systems for public transport.
Locomotive Market Revenue – Competitive Analysis
The global Locomotive Market Revenue was significantly affected by the economic downturn in 2008-2010. Many operators chose to rehabilitate old locomotives instead of acquiring new ones. Companies such as Alstom or Siemens signed valuable contracts with the national Russian operator RZD.
Product innovation and a widespread need for fleet renewal will drive the electric Locomotive Market Revenue. An increasing trend towards local suppliers is evident in Eastern Europe. New electric locomotive manufacturers with their production facilities include Pesa and ZNLE in Poland, the Czech manufacturer Skoda, and Tülomsas in Turkey.
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