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Global Locomotive Market
Jul 30, 2017

Locomotive refers to a self-propelled vehicular engine, powered by steam, diesel, or electricity for pulling and pushing a train or individual rail road cars. The locomotives are designed for passenger service. All around the world, locomotives take passengers and freight to their destinations quickly and safely. Werner von Siemens presented the world’s first electric locomotive in Berlin 1879. Mobility is unthinkable without flexibility. Therefore, the bandwidth of products enables a comprehensive service adapted to a wide variety of customer requirements. On a worldwide scale, locomotives and propulsion technology for high-speed passenger service as well as for heavy-duty freight service for any power system. Successful locomotives and vehicle concepts, such as those introduced in 1993, are constantly being developed. Today, more than 3000 locomotives are providing safe transportation in various economies around the globe.

According to a recent study report published by the Market Research Future, the global market of                  Locomotive is forecasted for a fast track growth in terms of value and volume, with a prominent rate of CAGR during the forecasted period (2016 – 2022) thanks to the increasing preference for non-polluting and energy-efficient transport which is providing the impetus to the growth of global market of Locomotive during the forecast timeframe.

Increasing rate of urbanization has been contributing towards the growing popularity of locomotive among the general public. Expansion of rail networks in majority of developed as well as developing nations as well as growing concern among the individuals regarding environmental sustainability has had a positive impact on the global locomotives market. Significant investment by authorities across the globe in development of railway infrastructure for freight and high speed trains has also resulted in the growth of global locomotive market. However factors such as up Surge in cost of rail electrification and freight volumes, Heavy dependence on road for freight movement and Rising preference for road transport for passenger mobility may restrict the growth of the market.

Global Locomotive Market   – Key Players

Locomotive Market appears to be highly competitive and fragmented. Well established players incorporate acquisition, collaboration, partnership, expansion, technologically advanced product launch in order to gain competitive advantage in this market and to maintain their market position.                            Players operating in global locomotive market consistently strive to build up competence in the field of electric and diesel-electric locomotives. This expertise offers the customers maximum cost-efficiency from the very beginning through optimum and sustained availability. Mobility is unthinkable without flexibility. Therefore, the bandwidth of these products enables a comprehensive service, adapted to a wide variety of customer requirements. On a worldwide scale, manufacturers strive to supply locomotives and propulsion technology for high-speed passenger service as well as for heavy-duty freight service for any power system.

Profiled in MRFR Analysis some of the key players operating in Locomotive market are Bharat Heavy Electricals Limited, Berliner Maschinenbau, Lokomo, China Northern Rail Corporation Limited, Bombardier Transportation, Brookville Equipment Corporation, GE Transportation, and Alstom Ferroviaria S.p.A.