LOCOMOTIVE MARKET IS EXPECTED TO EXHIBIT SIGNIFICANT GROWTH OVER 2030

Locomotive Market Is Expected To Exhibit Significant Growth Over 2030

Locomotive Market Is Expected To Exhibit Significant Growth Over 2030

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Locomotive market is anticipated to grow at a CAGR of 8.2% during the forecast period (2024-2031). The market growth is driven by the rising demand for locomotives in developing regions due to growing investments in strengthening rail networks and infrastructure. Advancement in locomotive technology and the growing urbanization globally are other contributors to the global market growth. Additionally, the approach of shifting road traffic to the local rail network can be beneficial for market development. Further, the market is experiencing a significant boom by the rising trend of intramodal transport, the growing rail-freight industry, and the upgradation of passenger locomotives to optimize cost and time.

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In recent years, the traction around developing and deploying autonomous transport has risen exponentially which has also impacted the rail transport industry. Major players in the field are willing to invest and develop autonomous locomotive technology aimed at increasing the number of trains in both passenger and freight divisions, decreasing congestion, optimizing human resources, and evading the possibility of human error. For instance, in November 2022, Alstom accomplished the highest level of automation on a shunting locomotive near Breda, Netherlands, in collaboration with Dutch infrastructure manager ProRail and Belgian rail freight operator Lineas. This level of automation, known as GoA4, refers to fully automated starting, driving, stopping, and management of unexpected obstructions or occurrences without the direct involvement of any on-train workers during shunting tasks. This demonstration marks the end of a series of experiments conducted as part of an ongoing collaboration between Alstom, ProRail, and Lineas.

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  • Market Coverage

  • Market number available for – 2025-2031

  • Base year- 2025

  • Forecast period- 2025-2031

  • Segment Covered- By Source, By Product Type, By Applications

  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill

  • , and others


Global Locomotive Market Report Segment 

By Propulsion Type 

  • Diesel

  • Electric


By End-User 

  • Passenger

  • Freight


Global Locomotive Market Report Segment by Region 

North America

  • United States

  • copyright


Europe

  • UK

  • Germany

  • Italy

  • Spain

  • France

  • Rest of Europe


Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Rest of Asia-Pacific


Rest of the World

  • Latin America

  • The Middle East and Africa


The Report Covers 

  • Market value data analysis of 2023 and forecast to 2031.

  • Annualized market revenues ($ million) for each market segment.

  • Country-wise analysis of major geographical regions.

  • Key companies operating in the global locomotive market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

  • Analysis of market-entry and market expansion strategies.

  • Competitive strategies by identifying ‘who-stands-where’ in the market.


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