Farmington, May 09, 2023 (GLOBE NEWSWIRE) -- The Global Electric Locomotive Engines Market Size Was USD 1.89 Billion in 2022 And Is Projected To Grow To USD 4.02 Billion By 2030, Exhibiting A CAGR Of 11.4% From 2023 to 2030. Increasing demand for non-polluting and energy-efficient transportation is boosting the electric locomotive market. Electric locomotives emit 20%–35% less carbon per passenger mile than diesel locomotives, which contributes to a reduction in carbon emissions, according to the UK Department of Transport. This is made possible by the electric locomotives' highly efficient electric motors, which typically have an efficiency of around 90% due to innovations such as regenerative braking, which can recover energy from braking. Environmental concerns have increased the demand for non-polluting and energy-efficient transportation systems, propelling the market for electric locomotives.
Request Sample Copy of Report “Electric Locomotive Engines Market Size, Share & Trends Estimation Report By Energy Transfer (Overhead lines, Third rail, On-board energy storage),By Traction Units ( Ac traction units, Dc traction units, Multi system units),By Application (Passenger transport, Freight transport), By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
The market for electric locomotive engines can be segmented according to how power is supplied, the level of automation, the type of power, the components, and where they are sold. On the basis of how power is transmitted, the market can be divided into three categories. The most common source of power for an electric locomotive engine is an overhead power line. Because it is easy to install. Based on the level of automation, the market for electric train engines can be divided into four categories. In most locations, the GoA1 segment is the most important aspect of the business, but the next level of automation will soon be implemented.
On the basis of their power source, the market for electric train engines can be divided into two categories. DC motors have a high starting power, which enables them to move quicker initially regardless of the load. DC engines can also operate on AC power. Thus, DC-powered electric train engines dominate the market. Based on what they sell, the market can be divided into thirteen distinct segments. The components of an electric train engine include electric motors, a transformer, an inverter, and a compressor.
Regional Analysis:
During the forecast period, There are five primary markets for electric locomotive engines, based on location. North America is the global market leader because more people utilize technology and robotics there than anywhere else. China's market is expanding rapidly. China is anticipated to dominate the market for electric locomotive engines due to its inexpensive sources and government support.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 11.4% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 4.02 Billion |
| By Energy Transfer |
|
| By Traction Units |
|
| By Application |
|
| By Companies |
|
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Trends: After a pandemic, increased digitalization will accelerate market expansion.
The increasing demand for technologies that reduce locomotive emissions, which are a significant source of air pollution, is one of the primary factors propelling the global market for electric locomotive engines. During the period of the prognosis, stringent emission regulations, such as Tier II pollution standards for diesel locomotive engines, are anticipated to bolster the market for electric locomotive engines.
Utilizing more self-propelled engines to accelerate market expansion.
Autonomous locomotives are automated transit systems that operate independently of human intervention. They are under observation at the control point. With these items, people and products can be transported over short and long distances. A centralized control system that keeps track of all trains and a predefined railway network and infrastructure are essential for the intelligent movement of self-driving locomotives within certain cities and metros.
Drivers: After a pandemic, increased digitalization will accelerate market growth.
The increasing demand for technologies that reduce locomotive emissions, which are a significant source of air pollution, is one of the primary factors propelling the global market for electric locomotive engines. During the period of the prognosis, stringent emission regulations, such as Tier II pollution standards for diesel locomotive engines, are anticipated to bolster the market for electric locomotive engines.
Utilizing more self-propelled engines to accelerate market expansion.
Autonomous locomotives are automated transit systems that operate independently of human intervention. They are under observation at the control point. With these items, people and products can be transported over short and long distances. A centralized control system that keeps track of all trains and a predefined railway network and infrastructure are essential for the intelligent movement of self-driving locomotives within certain cities and metros.
Restraints: acquiring and maintaining expensive rolling stock will impede market expansion.
In recent years, there has been a surge in demand for these products due to the growing popularity of rail travel. The primary cause for the change in transportation methods is that traffic is worsening and causing more issues. The high number of locomotives on the global market is also attributable to improvements in rail infrastructure, inexpensive fares, environmental friendliness, and quicker travel.
Key Segments Covered:
Top Market Players:
- ALSTOM
- CRRC
- General Electric
- Siemens
- CAF
- Talgo
- Bombardier
- Bharat Heavy Electricals Limited
By Energy Transfer
- Overhead lines
- Third rail
- On-board energy storage
By Traction Units
- Ac traction units
- Dc traction units
- Multi system units
By Application
- Passenger transport
- Freight transport
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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