Global Traction Locomotive Market Overview:
The global traction locomotive market is expected to grow at a slow pace during the forecast period, according to the AMA study. The rising demand from mining industries due to large supply & transportation of goods and the growing demand from refurbishment & electrification of existing rail fleet are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a slight decline in the growth during the next few years but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Rising Adoption of Electric Locomotives
Market Growth Drivers:
Rising Demand from Mining Industries Due to Large Supply & Transportation of Goods and Growing Demand from Refurbishment & Electrification of Existing Rail Fleet
Challenges:
Short Term Challenges Due to Lack of Transportation & Logistics Facilities Due to Lock-Down of Different Sectors Across the World
Restraints:
The Outbreak of COVID-19 Pandemic is one of the Major Restraints for the Market as Most of the Industries have been Facing Economic Crisis Across the World
Opportunities:
Opportunities in the Asia Pacific Region
Competitive Landscape:
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time.
Some of the key players profiled in the report are Alstom (France), ABB (Switzerland), AEG (United States), EMD (United States), Wabtec Corporation (United States), BOMBARDIER (Canada), Siemens (United States), Caterpillar (United States), Hitachi Ltd. (Japan), CRRC (China), Bharat Heavy Electricals Limited (India), Diesel Locomotive Works (India) and Brookville Equipment Corporation (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Traction Locomotive market by 2027. Considering Market by End Users, the sub-segment i.e. OEMs will boost the Traction Locomotive market. Considering Market by Component, the sub-segment i.e. Rectifier will boost the Traction Locomotive market.
Latest Market Insights:
In February 2019, Wabtec Corporation announced that it has completed the merger with GE Transportation, a former business unit of GE
In May 2019, Alstom announced that it has started the production of passenger electric locomotives Prima M4 KZ4AT in the EKZ joint venture in Nur-Sultan (Astana) Kazakhstan
Stringent Government Regulations Impacting the Transportation Industry
What Can be Explored with the Traction Locomotive Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Traction Locomotive Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Traction Locomotive
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Traction Locomotive market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Traction Locomotive market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.