Zion Market Research Global Locomotive Market, 2016–2024 | Page 3

Locomotive Market
Global Locomotive Market: Growth Factors
Key factors that are driving the global locomotives market growth are the rise in demand for
rolling stock that is energy efficient, augmenting urbanization, and expanding rail networks
infrastructure. A broad spectrum of awaiting rail projects and environmental sustainability will
boost the market growth in the near future. Widespread rail networks support the locomotives
market in order to meet the growing demand for public transport. The emergence of the
advanced technology such as auxiliary power units, SiC module, and IGBT module contribute to
the largest market share in the global market. These technologies are helping to escalate the
fuel efficiency, reduced emission level, and lower the overall weight may lead to lessening power
loss when switching the current state. However, high maintenance & repair cost and huge
capital investment in rolling stocks are the major restraining factors of the global locomotives
market.
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Global Locomotive Market: Segmentation
The global locomotives market is divided on the basis of technology, motive power, end use,
and operational engine. Based on technology, the market is categorized into IGBT power
module, SiC power module, and GTO thyristor module. The motive power segment is segmented
into gas turbine electric, steam diesel hybrid, diesel, atomic electric, steam, fuel cell electric,
electric, gasoline, and hybrid. On the basis of end use, the locomotives market is classified into
switcher locomotives, freight, and passenger. The operational engine segment is bifurcated into
station pilot, train engine, light engine, banking engine, and pilot engine.