Railway Propulsion System Market By Type (Diesel, Diesel-Electric, Electric), By Application (Locomotive, Metro, Monorail, Trams, Others), By End User (Passenger Transit, Cargo Transit): Global Opportunity Analysis and Industry Forecast, 2023-2032
A railway propulsion system comprises components and technologies used to generate and deliver power for the propulsion of a train. Power generated by fuel, electricity, or any other source must be converted into a usable form. There are components such as generators, converters, transformers, or inverters to offer specific voltage, frequency, or current to cater to the requirement of railways. Alternating current (AC) and direct current (DC) motors are the types of motors commonly used in modern railway propulsion systems. In addition, technological advancements have resulted in the creation of advanced semiconductor devices such as insulated gate bipolar transistors (IGBTs) and thyristors. The development of reliable AC induction motors and the electrification of locomotives and railroads have also gained popularity.
There is a greater emphasis on the development and expansion of urban rail networks owing to the increase in urbanization and population growth in various cities across the globe. This has led to increased demand for railway propulsion systems to power new metro and light rail lines. Moreover, the high-speed railway network is experiencing significant growth. For instance, according to Krzysztof Maminski, the UIC Chairman, the high-speed railway network is developing very dynamically. Over the span of just two years, from 2020 to 2022, the total length of high-speed rail tracks has surged from 44,000 km to approximately 59,000 km, representing an impressive increase of over one-third. Therefore, the expansion of high-speed rail across the globe drives the need for advanced propulsion systems capable of high speeds and efficient energy consumption. Moreover, the global trend of transitioning railways from diesel-powered to electric-powered systems has been driven by the aim to reduce emissions and enhance energy efficiency. Therefore, there is increased demand for electric propulsion systems in the railway industry.
The railway propulsion system market is segmented on the basis of type, application, end user, and region. By type, it is categorized into diesel, diesel-electric, and electric locomotive. By application, the market is classified into locomotive, metro, monorail, trams, and others. By end user, it is bifurcated into passenger transit, and cargo transit. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading companies profiled in the report include CRRC Corporation Limited, Hitachi, Ltd., Mitsubishi Corporation, Siemens, Toshiba Corporation, Alstom, Medcom, Titagarh Rail Systems Limited, ABB, and Fuji Electric Co., Ltd.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the railway propulsion system market analysis from 2022 to 2032 to identify the prevailing railway propulsion system market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the railway propulsion system market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global railway propulsion system market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeDiesel
Diesel-Electric
Electric
By ApplicationLocomotive
Metro
Monorail
Trams
Others
By End UserPassenger Transit
Cargo Transit
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
Spain
Italy
France
Russia
UK
Netherlands
Norway
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Philippines
Indonesia
Viet Nam
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Toshiba Corporation
Mitsubishi Corporation
ABB
Hitachi, Ltd.
Siemens
CRRC Corporation Limited
Alstom
Medcom
Titagarh Rail Systems Limited
Fuji Electric Co., Ltd.
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