Zion Market Research Global Locomotive Market Share, 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.