Locomotive Market To Reach USD 34.92 Bn By 2030| Caterpillar (USA), Cummins (USA), Electro-Motive Diesel (USA)
Market Overview:
Locomotive Market Size Was Valued at USD 18.10 Billion in 2022, and is Projected to Reach USD 34.92 Billion by 2030, Growing at a CAGR of 8.56 % From 2023-2030.
A locomotive is a rail transport vehicle with the primary function of propelling trains along railroad tracks, typically without carrying any cargo itself. However, modern rail operations increasingly employ push-pull configurations, where locomotives can be positioned at the front, rear, or both ends of a train. Electric locomotives are preferred due to their advantages, including superior performance, lower maintenance costs, reduced energy consumption, and minimal environmental impact. In the near future, rising urbanization, escalating traffic congestion, growing environmental concerns, and ongoing technological advancements are expected to drive demand for locomotives. Governments are actively involved in the market, investing in railway construction, and recognizing railways as an economical and safe mode of transportation, further stimulating growth in the locomotive market.
Top Key Players for Locomotive Market:
Caterpillar (USA),Cummins (USA),Electro-Motive Diesel (USA),Greenbrier Companies (USA),GE Transportation (USA),Alstom (France),Siemens Mobility (Germany),Bombardier Transportation (Germany),Voith Turbo Locomotive Technologies (Germany),Vossloh Locomotives (Germany),Electroputere V. I. Lenin (Romania),Škoda Transportation (Czech Republic),Transmashholding (Russia),National Railway Infrastructure of Ukraine (Ukraine),Newag (Poland),Stadler Rail (Switzerland),Pesa Bydgoszcz (Poland),Hitachi Rail (Japan) Hyundai Rotem (South Korea),Bharat Heavy Electricals Limited (BHEL) (India),Cressida (India),DLW Locomotive Works (India),Titagarh Wagons (India),Taipei Metro Corporation (Taiwan).
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Market Overview:
Locomotive Market Size Was Valued at USD 18.10 Billion in 2022, and is Projected to Reach USD 34.92 Billion by 2030, Growing at a CAGR of 8.56 % From 2023-2030.
A locomotive is a rail transport vehicle with the primary function of propelling trains along railroad tracks, typically without carrying any cargo itself. However, modern rail operations increasingly employ push-pull configurations, where locomotives can be positioned at the front, rear, or both ends of a train. Electric locomotives are preferred due to their advantages, including superior performance, lower maintenance costs, reduced energy consumption, and minimal environmental impact. In the near future, rising urbanization, escalating traffic congestion, growing environmental concerns, and ongoing technological advancements are expected to drive demand for locomotives. Governments are actively involved in the market, investing in railway construction, and recognizing railways as an economical and safe mode of transportation, further stimulating growth in the locomotive market.
Top Key Players for Locomotive Market:
Caterpillar (USA),Cummins (USA),Electro-Motive Diesel (USA),Greenbrier Companies (USA),GE Transportation (USA),Alstom (France),Siemens Mobility (Germany),Bombardier Transportation (Germany),Voith Turbo Locomotive Technologies (Germany),Vossloh Locomotives (Germany),Electroputere V. I. Lenin (Romania),Škoda Transportation (Czech Republic),Transmashholding (Russia),National Railway Infrastructure of Ukraine (Ukraine),Newag (Poland),Stadler Rail (Switzerland),Pesa Bydgoszcz (Poland),Hitachi Rail (Japan) Hyundai Rotem (South Korea),Bharat Heavy Electricals Limited (BHEL) (India),Cressida (India),DLW Locomotive Works (India),Titagarh Wagons (India),Taipei Metro Corporation (Taiwan).
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07:18 AM - Feb 07, 2024 (UTC)
