Market outlook of the generator market in railways
Technavio’s research analyst predicts the global generator market in railways to grow steadily at a CAGR of around 5% during the forecast period. Heavy investments to improve rail infrastructure in emerging markets is a key driver for the growth of generators in railways. With growing congestion in air and road traffic, all major economies are looking forward to developing their railway network infrastructure. This creates a potential market for railway generator manufacturers.
Product innovations in this market are expected to boost market growth during the forecast period. Railways mostly use the end-on-generation type of generators nowadays, replacing the traditional self-generating generators. Many vendors are investing in designing and developing head-on-generation type that is believed to be more efficient.
Geographical segmentation and analysis of the generator market in railways
APAC accounted for 52% of the market share during 2015 and is expected to grow steadily during the forecast period. The rise in urban population and a growing number of industrial areas are expected to buoy the growth of this market until 2020.
Competitive landscape and key vendors
The global generator market in railways is fragmented with the presence of both international and regional vendors. However, many national and regional vendors are emerging in the market with low-cost options. Vendors are forced to distinguish their products in spite of the limited scope for product differentiation to endure the stiff competition and sustain their competitive advantage in this market.
The leading vendors in the market are -
- ABB
- GE
- Harrington
- Stadco Generators
- Traktionssysteme Austria
Other prominent vendors in this market are Caterpillar, Crompton Greaves, Jenoptik, Kirloskar Electric, Sherwood Electromotion, and Toshiba.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global generator market in railways?
- What are the key market trends impacting the growth of the generator market in railways?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global generator market in railways?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the generator market in railways?
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