Global Railway Propulsion Systems Market 2018-2022

Below are some of the key findings from the railway propulsion systems market research report

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Global railway propulsion systems industry overview

The cost-effectiveness of rail freight over other modes of transportation is one of the key factors expected to drive the demand for railway propulsion systems. The emergence of e-commerce has resulted in a considerable increase in the need for logistics and transportation services, which account for a major share of the overall product cost. To reduce the cost of transportation, companies have started preferring fast and cost-effective means of freight transportation. Further, due to the technological advancements in railway propulsion systems, railways have emerged as the most cost-effective option of freight transport. Systematic planning to avoid congestion, rail freight transport proves to be a faster mode than the other modes of transportation. Owing to such benefits, railways has emerged as the most preferred transportation mode for e-commerce logistics, increasing the need for rail freight transportation. This will subsequently drive the growth of the railway propulsion systems market, which according to our analysts will register a CAGR of close to 3% by 2022.

The increasing use of alternative fuel in locomotives is one of the key trends expected to gain traction in the market. The railway industry is focusing on replacing carbon-intensive diesel fuel with alternative fuels like LNG, hydrogen, and bio-diesel. The alternative fuel technologies will further replace fuel on non-electrified routes. As a result, the hydrogen power will further fuel the railway propulsion systems market’s growth in the forthcoming years.

Top railway propulsion systems companies covered in this market research report

The railway propulsion systems market is moderately fragmented with companies focusing on launching innovative products to strengthen their position in the market. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this railway propulsion systems industry analysis report will aid clients identify new growth opportunities and design new growth strategies.

The report offers a complete analysis of various companies including:

• ABB
• ALSTOM
• Bombardier
• CRRC
• GENERAL ELECTRIC
• Hitachi

Railway propulsion systems market segmentation based on geographic regions

• Americas
• APAC
• EMEA

With a complete study of the growth opportunities for the companies, the EMEA region will account for the highest market share throughout the forecast period. The region is expected to maintain dominance in the market owing to the presence of major vendors in the advanced economies within the region.

Railway propulsion systems market segmentation based on application

• Diesel locomotives
• Electric locomotives

The diesel locomotives segment will account for the highest railway propulsion systems market share. Additionally, the report also provides an accurate prediction of the contribution of the various application segments to the growth of the railway propulsion systems market size.

Key highlights of the global railway propulsion systems market for the forecast years 2018-2022:

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the railway propulsion systems market during the next five years
• Precise estimation of the global railway propulsion systems market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• Growth of the railway propulsion systems industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on the factors that will challenge the growth of railway propulsion systems companies

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