Global Locomotive Market Growth 2025-2031

The global Locomotive market size is predicted to grow from US$ 13720 million in 2025 to US$ 15230 million in 2031; it is expected to grow at a CAGR of 1.8% from 2025 to 2031.

A locomotive or engine is a rail transport vehicle that provides the motive power for a train.

Global key players of Locomotive include Transmashholding, CRRC, etc. Global top 3 companies hold a share about 60%. Europe is the largest market, with a share about 60%, followed by Asia Pacific and North America with the share about 30% and 10%. In terms of product, Electric Locomotive is the largest segment, with a share about 70%. And in terms of application, the largest application is Freight Transport, with a share about 90%.

LP Information, Inc. (LPI) ' newest research report, the “Locomotive Industry Forecast” looks at past sales and reviews total world Locomotive sales in 2024, providing a comprehensive analysis by region and market sector of projected Locomotive sales for 2025 through 2031. With Locomotive sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Locomotive industry.

This Insight Report provides a comprehensive analysis of the global Locomotive landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Locomotive portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Locomotive market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Locomotive and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Locomotive.

This report presents a comprehensive overview, market shares, and growth opportunities of Locomotive market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Electric Locomotive
Diesel Locomotive

Segmentation by Application:
Freight Transport
Passenger Transport

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Transmashholding
CRRC
Alstom
Wabtec
Bombardier
CLW
BLW
Siemens
Hitachi
Progress Rail
Stadler Rail
Hyundai Rotem

Key Questions Addressed in this Report

What is the 10-year outlook for the global Locomotive market?

What factors are driving Locomotive market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Locomotive market opportunities vary by end market size?

How does Locomotive break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.