Zion Market Research Global Locomotive Market, 2016–2024 | Page 4

Locomotive Market
Global Locomotive Market: Regional Analysis
Asia Pacific region contributed for the largest market share due to the increasing population
growth, expanding rail network, and rising urbanization. Developing countries in Asia-Pacific
such as India, China, and Japan will witness strong growth in the near future. Increasing
number of rail infrastructural projects in the Latin American region is anticipated to fuel the
locomotives market growth. The government of North America and Europe is largely investing in
the expansion and modernization of the rail network. Robust economic growth and rise in the
demand for power and conversion systems in the Middle East and Africa will develop the
locomotives market growth in future.
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Global Locomotive Market: Competitive Players
Major leading players in the global locomotive market are Alstom SA, CSR Corporation, Hitachi
Ltd., AEG Power Solutions, Bombardier Transportation, and Siemens AG.