Locomotive Market is projected to be worth USD 25.7 billion by 2027, registering a CAGR of 11.61% during the forecast period (2021 – 2027), The market was valued at USD 18.9 billion in 2020

The Locomotive Market is driven by improving economies of developing countries as well as growing mining activities. These factors have helped shape the locomotive market and are expected to boost the growth. Companies in the locomotive market could also face challenges such as high initial investments and risk concerns. The details covered in the locomotive market report cover all the aspects of the industry. Analysts studying the locomotive market have also shared growth projections in the report and have suggested locomotive market players to plan business strategies accordingly.

Prominent Players

The Prominent Players operating in the global locomotive market are CRRC Corporation Limited (China), AEG Power Solutions (Germany), Siemens AG (Germany), Alstom S.A (France), GE Transportation (US), Transmashholding (Russia), EMD Caterpillar (US), Kawasaki Heavy Industries (Japan), Stadler Rail (Switzerland), and Bombardier Transportation (Canada) The report for the Global Locomotive Market of Market Research Future covers extensive primary research.

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This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historic and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.

Market Segmentation

The global Locomotive Market has been segmented based on technology, type, and component. On the basis of type, the market for locomotive is segmented based on diesel, electric and others. Additionally, the market on the basis of technology, is segmented into IGBT Module, GTO Thyristor and SiC Module. The global market for locomotive is also covered based on the component segment which is further split into rectifier, inverter, traction motor, alternator and others.

Factors like technological upgradation in locomotives and growing population support the locomotive market growth. The performance of the locomotive market has also been studied for the past and current years. Additionally, the Locomotive Industry report provides analysis of these segments. The locomotive market segmental analysis provided in the report offers major details about the locomotive market based on the data and forecasts till 2025.

Regional Overview

Companies in the Locomotive Market are spread across the world. The locomotive market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American locomotive market has many companies across the United States, Canada, and Mexico. The locomotive market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the locomotive market can be found in the market research report. Europe has companies in the locomotive market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the locomotive market across India, China, and Japan in the Asia-Pacific region is also presented in the report.

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Competitive Landscape

The Locomotive Market is supported by increasing use of technology across different industry verticals. The population growth around the world and increasing demand of locomotive market based services and products also support the market growth. However, the locomotive market growth can be affected due to capital-insensitivity of railway vehicles. The report covers all such details which will help companies in the locomotive market to strengthen their business plan and improve their product portfolio. The locomotive market research report also provides company profiles of major companies. The company profiles of many organizations operating in the locomotive market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the locomotive market. New companies and established businesses can plan their strategies based on this data provided in the locomotive market research report.