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Pulished Date January, 2021
ID: 10757
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Locomotive Market Segmentation by Motive Power (Steam, Diesel, Gasoline, Electric, Hybrid, Steam Diesel Hybrid, Fuel Cell Electric, Atomic Electric, and Gas Turbine Electric), By Power Conversion Component (Rectifier, Traction, Inverter, Alternator, and Auxiliary Power Conversion Unit), By Technology (GTO Thyristor Module, IGBT Power Module, and SiC Power Module), By End-Users (Passenger, Freight, and Shunting Or Switcher Locomotives), By Operational Engine (Train Engine, Banking Engine, Pilot Engine, Station Pilot, and Light Engine), By Wheel Arrangement (AAR, Whyte Notation Systems, and UIC Classification) & By Region - Forecast till 2027

Pulished: January, 2021
ID: 10757
Pages: 175

Market Overview

In 2021, the global locomotive market was valued at USD 18.16 billion and estimated to grow at a 10.3% CAGR to reach USD 23.83 billion by 2027.

Locomotives are powered rail transport vehicles that deliver motive power to trains with no payload capacity, and their only purpose is to pull the trains on tracks. Nonetheless, presently, push-pull operations have become popular, in which the trains have locomotives at the back, front, or both ends. Electric locomotives are preferred since they provide high performance, lower maintenance costs, lower energy costs, and reduce pollution levels.

The increasing rate of urbanization, expansion of rail networks in most developed and developing nations, and the growing concern among individuals regarding environmental sustainability drive the global market.

Recent Developments

In 2020, Alstom signed an MoU with Bombardier Inc. and Caisse de dépôt et placement du Québec ("CDPQ") to procure Bombardier Transportation. The cost of the acquisition of all the Bombardier Transportation shares will be around €6 billion.

In March 2020, C.Z. Loko launched three new hybrid locomotives concepts named DualShunter 2000, EffiLiner 2000, and DualLiner 2000 in a Future of Shunting Locomotives conference. These models were planned to hit the track by 2023.

In 2020, Deutsche Bahn has awarded 50 hybrid locomotives orders to Toshiba Corporation. The estimated series assembly of the locomotives will start by 2021. This hybrid locomotive can provide annual energy savings of 30% and diesel fuel savings of 1 million litres per year.

In March 2020, Alstom S.A. rolled out its first all-electric locomotive; it is a part of a USD 3.5 billion order of 800 electric double-section locomotives signed back in 2015 with the Indian Ministry of Railways public-private partnership.

Market Drivers

Key factors driving the global locomotives market growth are the rise in demand for rolling stock that is energy efficient, augmenting urbanization, and expanding rail network infrastructure. A broad spectrum of awaiting rail projects and environmental sustainability will boost market growth in the coming years. Widespread rail networks support the locomotives market to meet the growing demand for public transport. The development of advanced technology like auxiliary power units, SiC module, and IGBT module adds to the largest market share in the global locomotive market. These technologies assist in escalating fuel efficiency, reducing emission level, and lowering the overall weight, which may reduce power loss when switching the current state.

Restraints

The capital intensiveness of rolling stock, high maintenance cost, and overhaul cost are the key restraining factors hampering the global locomotive market's growth.

Market Segmentation

Based on motive power, the market is categorized into steam, diesel, gasoline, electric, hybrid, steam diesel hybrid, fuel cell electric, atomic electric, and gas turbine electric. Motive power is a fundamental agent such as water, steam, electricity, and wind, which imparts motion to its engine. The diesel locomotives are further segmented into early oil locomotive engines, first true diesel engines, modern diesel engines, and slugs or drones.

Based on the power conversion component, the locomotive market is categorized into rectifier, traction, inverter, alternator, and auxiliary power conversion unit. Some of the power conversion components' applications include converting electric energy from one form of energy, adjusting voltage frequency, and converting alternate current to direct current. 

Based on technology, the locomotive market is categorized into the GTO thyristor module, IGBT power module, and SiC power module. Gate Turn-Off Thyristor module is a high-powered semiconductor device, while IGBT power modules are found in traction inverters. SiC modules or silicon carbide modules are used as oil additives to reduce friction and emissions. 

Based on the end-user, the global locomotive market is segmented into passenger, freight, and shunting or switcher locomotives. 

Based on the operational engine, the locomotive market is divided into the train engine, banking engine, pilot engine, station pilot, and light engine. 

Based on wheel arrangement, the locomotive market is categorized into AAR, Whyte notation systems, and UIC classification. A wheel arrangement is a system for naming the distribution of wheels of a locomotive. Since the wheels of a locomotive are optimized for a different use, they form an integral part of the locomotive system's functioning.

Regional Analysis

Geographically, the global locomotive market has been divided into four major regions: North America, Europe, Asia-Pacific, and the rest of the world. In 2018, the global market was dominated by Asia-Pacific, followed by Europe and North America. Asia-Pacific is predicted to hold the largest market share during the forecast timeframe due to its enormous potential consumer base and improving socio-economic conditions in countries such as China, India, and Japan. North America is expanding at a substantial rate over the outlook period. The factors adding to the market's growth in this region are the development of advanced technology, stable economy, heavy industrialization, and key market players such as G.E. Transportation and EMD Caterpillar region. Europe is estimated to keep the second position by market share in the global market throughout the forecast timeframe as it is one of the biggest markets for rail products.

Key Players

Some of the significant players functioning in the global locomotive market are Hitachi Ltd. (Japan), CRRC Corporation Limited (China), Bombardier Inc. (Canada), Alstom S.A. (France), and ABB (Switzerland). 

For instance, Hitachi Ltd. has a strong product offering, and it has invested heavily in R&D to retain its market position. They have embraced new product development and supply contracts as their primary strategy. In contrast, CRRC Corporation Limited has recently surfaced by collaborating with the subsidiaries and adopting new product development and mergers as their primary strategy to appear as the market's leading player.

Impact of COVID-19 on Locomotive Market

The global locomotive market faced a significant market slow down compared to the 2019 growth estimates due to the coronavirus pandemic's impact in the first half of 2020. Nonetheless, steady growth is expected throughout the forecast period, and the market is evaluated to grow at about a 1% CAGR.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Locomotive Market, By Motive Power         

                    6.1.1 Steam 

                    6.1.2 Diesel  

                    6.1.3 Gasoline        

                    6.1.4 Electric

                    6.1.5 Hybrid 

                    6.1.6 Steam Diesel Hybrid 

                    6.1.7 Fuel Cell Electric      

                    6.1.8 Atomic Electric         

                    6.1.9 Gas Turbine Electric 

                    6.1.10 Market Size Estimations & Forecasts (2019-2024)      

                    6.1.11 Y-o-Y Growth Rate Analysis       

                    6.1.12 Market Attractiveness Index       

          6.2 Locomotive Market, By Power Conversion Component              

                    6.2.1 Rectifier         

                    6.2.2 Traction         

                    6.2.3 Inverter         

                    6.2.4 Alternator      

                    6.2.5 Auxiliary Power Conversion Unit   

                    6.2.6 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.7 Y-o-Y Growth Rate Analysis         

                    6.2.8 Market Attractiveness Index         

          6.3 Locomotive Market, By Technology            

                    6.3.1 GTO Thyristor Module        

                    6.3.2 IGBT Power Module  

                    6.3.3 SiC Power Module    

                    6.3.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.5 Y-o-Y Growth Rate Analysis         

                    6.3.6 Market Attractiveness Index         

          6.4 Locomotive Market, By End-Users              

                    6.4.1 Passenger      

                    6.4.2 Freight

                    6.4.3 Shunting Or Switcher Locomotives

                    6.4.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.4.5 Y-o-Y Growth Rate Analysis         

                    6.4.6 Market Attractiveness Index         

          6.5 Locomotive Market, By Operational Engine           

                    6.5.1 Train Engine  

                    6.5.2 Banking Engine        

                    6.5.3 Pilot Engine   

                    6.5.4 Station Pilot   

                    6.5.5 Light Engine  

                    6.5.6 Market Size Estimations & Forecasts (2019-2024)        

                    6.5.7 Y-o-Y Growth Rate Analysis         

                    6.5.8 Market Attractiveness Index         

          6.6 Locomotive Market, By Wheel Arrangement          

                    6.6.1 AAR     

                    6.6.2 Whyte Notation Systems     

                    6.6.3 UIC Classification     

                    6.6.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.6.5 Y-o-Y Growth Rate Analysis         

                    6.6.6 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Motive Power       

                    7.2.3 By Power Conversion Component  

                    7.2.4 By Technology          

                    7.2.5 By End-Users 

                    7.2.6 By Operational Engine        

                    7.2.7 By Wheel Arrangement       

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Motive Power       

                    7.3.3 By Power Conversion Component  

                    7.3.4 By Technology          

                    7.3.5 By End-Users 

                    7.3.6 By Operational Engine        

                    7.3.7 By Wheel Arrangement       

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Motive Power       

                    7.4.3 By Power Conversion Component  

                    7.4.4 By Technology          

                    7.4.5 By End-Users 

                    7.4.6 By Operational Engine        

                    7.4.7 By Wheel Arrangement       

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Motive Power       

                    7.5.3 By Power Conversion Component  

                    7.5.4 By Technology          

                    7.5.5 By End-Users 

                    7.5.6 By Operational Engine        

                    7.5.7 By Wheel Arrangement       

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Motive Power       

                    7.6.3 By Power Conversion Component  

                    7.6.4 By Technology          

                    7.6.5 By End-Users 

                    7.6.6 By Operational Engine        

                    7.6.7 By Wheel Arrangement       

8. Key Player Analysis                           

          8.1 Alstom S.A                 

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Hitachi Ltd                 

          8.3 CRRC Corporation Limited               

          8.4 Bombardier Inc           

          8.5 ABB Ltd            

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms By Cutting Systems and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Locomotive Market By Region, From 2021-2026 ( USD Billion )
  2. Global Locomotive Market By Motive Power, From 2021-2026 ( USD Billion )
  3. Global Steam Market By Region, From 2021-2026 ( USD Billion )
  4. Global Diesel Market By Region, From 2021-2026 ( USD Billion )
  5. Global Gasoline Market By Region, From 2021-2026 ( USD Billion )
  6. Global Electric Market By Region, From 2021-2026 ( USD Billion )
  7. Global Hybrid Market By Region, From 2021-2026 ( USD Billion )
  8. Global Steam Diesel Hybrid Market By Region, From 2021-2026 ( USD Billion )
  9. Global Fuel Cell Electric Market By Region, From 2021-2026 ( USD Billion )
  10. Global Atomic Electric Market By Region, From 2021-2026 ( USD Billion )
  11. Global Gas Turbine Electric Market By Region, From 2021-2026 ( USD Billion )
  12. Global Locomotive Market By Power Conversion Component, From 2021-2026 ( USD Billion )
  13. Global Rectifier Market By Region, From 2021-2026 ( USD Billion )
  14. Global Traction Market By Region, From 2021-2026 ( USD Billion )
  15. Global Inverter Market By Region, From 2021-2026 ( USD Billion )
  16. Global Alternator Market By Region, From 2021-2026 ( USD Billion )
  17. Global Auxiliary Power Conversion Unit Market By Region, From 2021-2026 ( USD Billion )
  18. Global Locomotive Market By Technology, From 2021-2026 ( USD Billion )
  19. Global GTO Thyristor Module Market By Region, From 2021-2026 ( USD Billion )
  20. Global IGBT Power Module Market By Region, From 2021-2026 ( USD Billion )
  21. Global SiC Power Module Market By Region, From 2021-2026 ( USD Billion )
  22. Global Locomotive Market By End-Users, From 2021-2026 ( USD Billion )
  23. Global Passenger Market By Region, From 2021-2026 ( USD Billion )
  24. Global Freight Market By Region, From 2021-2026 ( USD Billion )
  25. Global Shunting Or Switcher Locomotives Market By Region, From 2021-2026 ( USD Billion )
  26. Global Locomotive Market By Operational Engine, From 2021-2026 ( USD Billion )
  27. Global Train Engine Market By Region, From 2021-2026 ( USD Billion )
  28. Global Banking Engine Market By Region, From 2021-2026 ( USD Billion )
  29. Global Pilot Engine Market By Region, From 2021-2026 ( USD Billion )
  30. Global Station Pilot Market By Region, From 2021-2026 ( USD Billion )
  31. Global Light Engine Market By Region, From 2021-2026 ( USD Billion )
  32. Global Locomotive Market By Wheel Arrangement, From 2021-2026 ( USD Billion )
  33. Global AAR Market By Region, From 2021-2026 ( USD Billion )
  34. Global Whyte Notation Systems Market By Region, From 2021-2026 ( USD Billion )
  35. Global UIC Classification Market By Region, From 2021-2026 ( USD Billion )

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