Zion Market Research Global Locomotive Market Share, 2016–2024 | Page 2

Locomotive Market
Global Locomotive Market: Overview
The locomotive is the engine in a rail transport vehicle, which provides the motive
power to the train with no payload capacity but aims to move the train along the track.
Some trains have its own self-propelled payload-carrying vehicles. Locomotives are
present at the front, rear, or at both the ends of trains. Electric locomotives are widely
preferred as they provide lower energy costs, high performance, reduced pollution
levels, and lower maintenance cost.
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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