Locomotive Market 2021, Industry Share, Growth, Demands, Research and Analysis

The locomotive market for power conversion systems is primarily driven by for expansion of rail network infrastructure, increasing urbanization and environmental sustainability. With growth in urbanization and industrialization, there is going to be a substantial increase in the demand for power and related conversion systems during the forecast period.

Research Methodology

The research methodology used in the report involves various secondary sources such as Union of European Railway Industries (UNIFE), Brazilian Association of Railroad Suppliers (ABIFER), International Railway Journal (IRJ), amongst others. The market numbers are based on country-wise production of rolling stock, which is further added to arrive at the regional market. This regional data is added to derive global data. The production of rolling stock has been considered, to arrive at the market size, in terms of volume. This country-wise market size, by volume is then multiplied with the country-wise average OE price of each type of power conversion component. This results in the country-wise market size for that particular power conversion component, in terms of value. The same approach has been used to calculate the market sizes of the technology. The summation of the country-wise and regional-level market size, in terms of value, provides the global locomotive market for power conversion system size.

Download PDF:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=245619412

The figure below illustrates the break-up of the profile of industry experts who participated in primary discussions.

Key Players

The locomotive market for power conversion system ecosystem consists of traction motor manufacturers such as Hitachi Ltd (Japan), CRRC Corporation Limited (China) and, AEG Power Solutions (Germany) amongst others; Auxiliary power unit manufacturers such as Turbo Power Systems (U.K.), Alstom S.A (France) and Toshiba Corporation (Japan) among others and converter manufacturers like Strukton (The Netherlands) and Siemens AG (Germany) amongst others. These OEMs integrate these components and sell them to end users to cater to their requirements.

Target Audience

Manufacturers of rolling stock
Manufacturers of rolling stock power conversion components
Raw material suppliers for rolling stock or their power conversion components
Transport authorities
Legal and regulatory authorities
Fleet operators

Speak to Our Analyst:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=245619412

Asia-Pacific: The largest and fastest-growing market for rolling stock power conversion system

The Asia-Pacific region includes key countries such as China, Japan, and India. The locomotive market for power conversion system in the region is expected to grow at a promising CAGR, owing to the increasing number of rail infrastructural projects and growing urbanization. According to Ministry of Railways (India), the ministry has planned to spend approximately USD 142 Billion in the next five years on expansion and modernization. Robust economic growth, coupled with the growing urban population leads to increase in demand for power and conversion systems during the forecast period.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

sales@marketsandmarkets.com

Source: Locomotive Market worth 4.27 Billion USD by 2021