Overview of the global electric locomotive engines market

According to Technavio’s analyst, the global electric locomotive engines market is anticipated to grow at a steady rate and post a CAGR of close to 4% during the forecast period. The increasing preference for non-polluting and energy-efficient transportation system will drive the growth prospects for the global electric locomotive engines market until the end of 2021. It has been observed that the transport segment accounted for about 25% of the global carbon dioxide emissions from fuel combustion in 2015, which, in turn, will drive the preference for electric locomotive engines over their traditional diesel train counterparts. Additionally, the rising preference for electric locomotive engines for freight transportation due to their fuel-efficiency and on-time modes of transportation, which will increase freight transportation through rails, will also fuel the growth of this global market in the coming years.

The emergence of dual-mode locomotive electric trains will be one of the major trends that will gain traction in the electric locomotive engines market for the next four years. Due to their reduced dependence on petrol, the coming years will witness an increased preference for dual mode trains, which will be one of the major factors propelling the growth of this market.

Competitive landscape and key vendors

The global electric locomotive engines market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. It has been observed that several vendors are increasingly focusing on expanding their customer base and increasing their investments in research and developmental activities.

Key vendors in this market are -

• ALSTOM
• China CNR
• Siemens

Other prominent vendors in the market include CAF, MITSUI, ŠKODA AUTO, and Talgo.

Segmentation by application and analysis of the electric locomotive engines market

• Passenger transport
• Freight transport

The electric locomotive engines market in freight transport accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. One of the major factors responsible for the growing preference for electric rail engines in freight transportation is the increasing traffic congestion on highways and rising fuel prices.

Segmentation by geography and analysis of the electric locomotive engines market

• Americas
• APAC
• EMEA

In terms of geography, APAC accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. Some of the major factors responsible for the market’s growth in the region is the increasing volumes of freight to be transported and the constantly increasing number of vehicles.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global electric locomotive engines market?
• What are the key market trends impacting the growth of the global electric locomotive engines market?
• What are the challenges to market growth?
• Who are the key vendors in the global electric locomotive engines market?
• What are the market opportunities and threats faced by the vendors in the global electric locomotive engines market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global electric locomotive engines market?

Technavio also offers customization on reports based on specific client requirement.