Hybrid Train Market
The Hybrid Train Market is anticipated to expand at a significant CAGR during the forecast period (2020-2027).
The factors driving the growth of Hybrid Train Market includes increasing focus on utilizing alternative fuels sources such as hydrogen, electric batteries, solar energy and CNG, growing demand for energy efficient transportation systems around the world and rising concerns related to greenhouse gas emissions. According to the report published by Statista, the Global Solar Energy Market was calculated around USD 86 billion in 2015 and is expected to reach USD 422 billion by the end of 2022, which will accelerate the Global Hybrid Train Market Growth in the approaching years. Moreover, the strict regulations imposed by Governments to control the emissions levels, growing emphasis on improving the rail infrastructure and increase in the merger and acquisition activities between the freight companies, are some of the additional factors supplementing the Hybrid Train Market size. In addition, the increasing investments by leading players on research and development, growing adoption of advanced technologies by manufacturers, rising population growth rates and rapid urbanization, are further contributing towards the market growth.
However, the growth of Hybrid Train Market is hindered due to high capital required to support railway infrastructure projects.
The prominent players operating in the market are CAF S.A., Hitachi, Ltd., Wabtec Corporation, Cummins Inc., Bombardier, CRRC, Siemens, Toshiba Corporation, Alstom, and HYUNDAI ROTEM COMPANY, among others.
Based on Propulsion, the Electro Diesel segment is predicted to grow at a significant CAGR during the forecast period
As per the Hybrid Train Market Analysis, growing demand for cost-efficient transportation systems and growing focus on enhancing the railway infrastructure, are some of the factors responsible for the segment’s growth.
Based on Application, the Passenger segment is projected to grow at a remarkable CAGR over the forecast period
According to the Hybrid Train Market Trends, Electro diesel locomotive are sustainable, reduces emissions of harmful substances and are reliable, are some of the factors propelling the segment’s growth.
Based on Region, the Asia-Pacific region is anticipated to capture a sizeable market share during the forecast period
Rise in the number of hybrid train projects, growing adoption of advanced technologies, Government’s initiatives for developing green transportation systems, growing disposable incomes, improvements in the living standards and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.
Key Developments
- In 2020, Hitachi, Ltd. and Hyperdrive Innovation signed an agreement to offer emission-free power to the battery trains, through this agreement they plan to create battery hub in the Northeastern part of the UK.
- In 2020, Siemens was given the first order for 20 Mireo Plus B battery-powered trains by SFBW, these trains can operate with or without overhead powerlines on rail routes.
Market Segmentation
Segmentation by Propulsion
- Battery Operated
- Electro Diesel
- Hydrogen Powered
- Others
Segmentation by Application
- Passenger
- Freight
Segmentation by Operating Speed
- Below 100 Km/H
- 100 – 200 Km/H
- Above 200 Km/H
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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