Market Overview:
The global railway propulsion systems market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for electric locomotive propulsion systems and rising investments in railway infrastructure projects across the globe. The diesel propulsion systems segment is expected to dominate the global railway propulsion systems market during the forecast period, owing to its low cost and high efficiency as compared to electric locomotive propulsion systems. However, with governments across countries promoting clean energy technologies, the electric locomotive propulsion system segment is projected to witness higher growth rates during the forecast period. In terms of application, trains are expected to account for a larger share of the global railway propulsion systems market than subways duringthe forecast period. This can be attributedtothe increasing investments in railways infrastructure projects worldwide, which are primarily aimed at improving train connectivity within and between cities/regions.
Product Definition:
Railway propulsion systems are devices used to propel railway vehicles. They may be powered by steam, diesel or electric locomotives.
Diesel Propulsion Systems:
Diesel propulsion systems are used in railway vehicles to provide the traction power. The diesel engine is an important part of a railway vehicle, which helps in providing locomotion to the train. It works on the combustion of fossil fuels and produces nitrogen dioxide (NOx), soot, and other gases that are harmful to humans. In addition, it also provides heat and light for passenger cars or freight wagons through gas engines or electricity generation through electric motors.
Electric Locomotive Propulsion Systems:
Electric locomotive propulsion systems and it's usage in railway propulsion systems market is expected to witness significant growth over the forecast period. The growth of this market can be attributed to several factors such as increasing demand for energy-efficient vehicles, technological advancements in electric locomotive design, and rising environmental concerns regarding conventional fuel-driven locomotives.
Application Insights:
The train application segment accounted for the largest revenue share of over 60% in 2017. The segment is projected to witness significant growth over the forecast period owing to rising demand for high-speed rail services across various regions. For instance, China, Japan and India are planning to build thousands of kilometer long high-speed rail networks connecting them with other countries which will result in increased demand for GRPS systems in these regions.
In addition, a number of European countries have developed extensive railway networks that have enabled them to become major trade hubs within Europe as well as across different parts of the world. This has ledto an increase in passenger traffic on conventional railways resulting into higher demand for GRPS systems from 2018 to 2030.
Subway applications are expectedto witness considerable growth during the forecast period owing torainfall from several developing economies such as China Africa Railways Corporation (CRRC), Mexico's Grupo FerroAtlantico.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing investments in infrastructure development, coupled with rising demand for intercity trains. China is projected to play a crucial role in regional growth owing to increasing number of high-speed train projects, such as the link between Beijing and Shanghai (Maglev), Tianjin and Shenzhen (Fuxing) and Guangzhou & Hong Kong (CRH). In addition, growing adoption of electric locomotives will also boost regional demand over the forecast period.
Growth Factors:
- Increasing demand for high-speed railways: The global railway market is expected to grow at a CAGR of 5.8% from 2016 to 2021, reaching a value of ,711 billion by 2021. This growth can be attributed to the increasing demand for high-speed railways across the world.
- Government initiatives and investments in rail infrastructure: Governments around the world are investing in rail infrastructure projects as they offer several advantages such as reducing traffic congestion, improving connectivity, and promoting economic development. This is expected to drive the growth of the railway propulsion systems market in the coming years.
- Technological advancements: The railway propulsion systems market is witnessing rapid technological advancements with companies introducing new products and technologies that offer improved performance and efficiency. This is likely to boost the growth of this market in the coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Railway Propulsion Systems Market Research Report
By Type
Diesel Propulsion Systems, Electric Locomotive Propulsion Systems
By Application
Train, Subway
By Companies
ABB, ALSTOM, Bombardier, CRRC, GENERAL ELECTRIC, Hitachi, ABB
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
128
Number of Tables & Figures
90
Customization Available
Yes, the report can be customized as per your need.
Global Railway Propulsion Systems Market Report Segments:
The global Railway Propulsion Systems market is segmented on the basis of:
Types
Diesel Propulsion Systems, Electric Locomotive Propulsion Systems
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Train, Subway
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- ALSTOM
- Bombardier
- CRRC
- GENERAL ELECTRIC
- Hitachi
- ABB
Highlights of The Railway Propulsion Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Diesel Propulsion Systems
- Electric Locomotive Propulsion Systems
- By Application:
- Train
- Subway
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Railway Propulsion Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Railway propulsion systems are the means by which locomotives and other railway vehicles move along a track. They include engines, transmissions, and axles.
Some of the key players operating in the railway propulsion systems market are ABB, ALSTOM, Bombardier, CRRC, GENERAL ELECTRIC, Hitachi, ABB.
The railway propulsion systems market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Railway Propulsion Systems Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Railway Propulsion Systems Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Railway Propulsion Systems Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Railway Propulsion Systems Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Railway Propulsion Systems Market Size & Forecast, 2018-2028
4.5.1 Railway Propulsion Systems Market Size and Y-o-Y Growth
4.5.2 Railway Propulsion Systems Market Absolute $ Opportunity
Chapter 5 Global Railway Propulsion Systems Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Railway Propulsion Systems Market Size Forecast by Type
5.2.1 Diesel Propulsion Systems
5.2.2 Electric Locomotive Propulsion Systems
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Railway Propulsion Systems Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Railway Propulsion Systems Market Size Forecast by Applications
6.2.1 Train
6.2.2 Subway
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Railway Propulsion Systems Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Railway Propulsion Systems Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Railway Propulsion Systems Analysis and Forecast
9.1 Introduction
9.2 North America Railway Propulsion Systems Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Railway Propulsion Systems Market Size Forecast by Type
9.6.1 Diesel Propulsion Systems
9.6.2 Electric Locomotive Propulsion Systems
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Railway Propulsion Systems Market Size Forecast by Applications
9.10.1 Train
9.10.2 Subway
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Railway Propulsion Systems Analysis and Forecast
10.1 Introduction
10.2 Europe Railway Propulsion Systems Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Railway Propulsion Systems Market Size Forecast by Type
10.6.1 Diesel Propulsion Systems
10.6.2 Electric Locomotive Propulsion Systems
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Railway Propulsion Systems Market Size Forecast by Applications
10.10.1 Train
10.10.2 Subway
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Railway Propulsion Systems Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Railway Propulsion Systems Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Railway Propulsion Systems Market Size Forecast by Type
11.6.1 Diesel Propulsion Systems
11.6.2 Electric Locomotive Propulsion Systems
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Railway Propulsion Systems Market Size Forecast by Applications
11.10.1 Train
11.10.2 Subway
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Railway Propulsion Systems Analysis and Forecast
12.1 Introduction
12.2 Latin America Railway Propulsion Systems Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Railway Propulsion Systems Market Size Forecast by Type
12.6.1 Diesel Propulsion Systems
12.6.2 Electric Locomotive Propulsion Systems
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Railway Propulsion Systems Market Size Forecast by Applications
12.10.1 Train
12.10.2 Subway
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Railway Propulsion Systems Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Railway Propulsion Systems Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Railway Propulsion Systems Market Size Forecast by Type
13.6.1 Diesel Propulsion Systems
13.6.2 Electric Locomotive Propulsion Systems
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Railway Propulsion Systems Market Size Forecast by Applications
13.10.1 Train
13.10.2 Subway
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Railway Propulsion Systems Market: Competitive Dashboard
14.2 Global Railway Propulsion Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 ALSTOM
14.3.3 Bombardier
14.3.4 CRRC
14.3.5 GENERAL ELECTRIC
14.3.6 Hitachi
14.3.7 ABB
