The Business Research Company’s Electric Locomotives Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, October 5, 2021 /EINPresswire.com/ — Increasing preference for non-polluting and energy-efficient transport is contributing to the growth of the electric locomotives market. According to the UK Department of Transport, highly efficient electric motors in electric locomotives regularly have an efficiency of around 90% due to advancements such as regenerative braking which can recover energy from braking, and they emit 20%-35% less carbon per passenger mile than those enabled by diesel, which helps in reduction in carbon emissions. Concerns regarding a greener environment resulted in increasing demand for non-polluting and energy-efficient transport systems, thereby driving the electric locomotives market.
The global electric locomotives market size is expected grow from $6.08 billion in 2020 to $6.47 billion in 2021 at a compound annual growth rate (CAGR) of 6.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global electric locomotives market share is expected to reach $8.96 billion in 2025 at a CAGR of 8%.
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Major players covered in the global electric locomotives industry are CRRC Corporation Limited, Bombardier Inc., Alstom SA, Siemens AG, Kawasaki Heavy Industries Ltd., General Electric Company, Transmashholding AG, Stadler Rail AG, Hitachi Ltd., AEG Power Solutions, Strukton, Bombardier Inc., Wabtec Corporation, Toshiba Corporation, Metso Corporation, Brookville Equipment Corporation, Materfer, KONCAR – Electronics and Informatics Inc., A. Stucki Company, UGL Rail, Tata Motors, CAF, MITSUI & Co., Ltd (MITSUI), KODA AUTO.
TBRC’s electric locomotives global market report 2021 is segmented by energy transfer into overhead lines, third rail, on-board energy storage, by technology into IGBT module, GTO thyristor, sic module, by traction units into ac traction units, dc traction units, multi system units, by application into passenger transport, freight transport.
Electric Locomotives Global Market Report 2021 – By Energy Transfer (Overhead Lines, Third Rail, On-board Energy Storage), By Technology (IGBT Module, GTO Thyristor, SiC Module), By Traction Units (AC Traction Units, DC Traction Units, Multi System Units), By Application (Passenger Transport, Freight Transport), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides electric locomotives market overview, forecast electric locomotives market size and growth for the whole market, electric locomotives market segments, and geographies, electric locomotives market trends, electric locomotives market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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