The Global Hybrid Train Market Research Report 2020-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The hybrid train market (henceforth referred to as the market studied) is anticipated to register a CAGR of about 6.23% during the forecast period (2020 – 2025).
Top Companies in the Global Hybrid Train Market are CRRC Corporation Limited, Bombardier Inc., Alstom SA, Kawasaki Heavy Industries Ltd., Siemens AG, Wabtec Corporation, Hyundai Rotem, Hitachi Ltd. and others.
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Key Market Trends
Electro Diesel Segment Held the Largest Market Share in 2019
In 2019, the Electro Diesel segment held the largest share in the market. Electro diesel railway vehicles, also known as dual-mode or bi-mode, are powered either by an electricity supply (like an electric locomotive) or an onboard diesel engine (like a diesel-electric locomotive).
These railway vehicles are used across all the regions. However, Asia-Pacific and Europe have been identified as the major markets, with several development plans and high deployment units of electro-diesel railway vehicles. Moreover, railway vehicle manufacturers across the world are consistently working on various technologies to further enhance the performance of electro-diesel railway vehicles. For instance:
– In Poland, during 2018, PKP Cargo, Pesa, and the TABOR Institute of Rail Vehicles signed an agreement at InnoTrans to develop an automated electro-diesel locomotive.
– PKP Cargo and Pesa are expected to create a design based on Pesas Gama locomotive platform, which will be verified by TABOR. Following the testing by PKP Cargo, the locomotive is anticipated to be commissioned in 2022.
– The vehicle is expected to operate with GoA 3. Sensors, cameras, and gyroscopes will be fitted, and the input data will be analyzed using artificial intelligence.
– In Spain, the European Investment Bank (EIB) approved a EUR 100 million loan in 2019 to part-finance the planned EUR 201 million procurement of 26 electric and 5 electro diesel trainsets for RENFE. The depots at El Berrn and Santander are expected to be modernized as part of the project.
– In December 2019, CRRC Corporation Limited and the Philippine Secretary of the Department of Transportation signed a contract. According to this contract, the Philippine National Railways (PNR) will purchase three trains from CRRC. The diesel electric multiple unit trains are expected to have a design speed of 120 km/h.
Owing to such aforementioned developments, the electro diesel railway vehicles may replace their diesel counterparts. These electro diesel trainsets have been successfully generating savings in operation and maintenance costs, which may further drive the market growth during the forecast period.
Asia-Pacific is Likely to Lead the Hybrid Train Market during the Forecast Period
The Hybrid Train market is anticipated to dominated by Asia-Pacific due to several ongoing projects to launch the hybrid trains in the region. Asia-Pacific is also one of the biggest markets for the rail industry and the demand for greener trains is growing in the region. The Asia Pacific comprises emerging economies such as China and India along with developed economies such as Japan. The implementation of new technologies and the establishment of new government regulations are driving this market in this region.
Over the past decade, China experienced large-scale and rapid urban rail transit development. Urban rail transit in China is developing toward a networked structure, intellectualized equipment, diversified systems, and innovative technology in recent years. The trend is shifting toward the adoption of large-capacity subways in the central areas of super cities and megacities, with the adoption of the medium-capacity monorail, inner-city rapid rail transit, and magnetic suspension trains, between central urban areas and remote towns.
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What are the market factors that are explained in the report?
Executive Summary: It includes key trends of the global Hybrid Train market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Hybrid Train market based on production and revenue.
Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Hybrid Train market.
Market Segments: This part of the report discusses product type and application segments of the global Hybrid Train market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approach Hybrid Train used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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