Global Hybrid Train Market size is projected to hit $23.9 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027.
The global hybrid train market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include Alstom SA, Ballard Power Systems, Inc., Bombardier, Inc., China Railway Rolling Stock Corporation (CRRC), Hyundai Rotem Company, Kawasaki Heavy Industries, Ltd., Siemens AG, Stadler Rail AG, Toshiba Corporation, and Wabtec Corporation.
Other players operating in the hybrid train market are BNSF Railway Company, Etihad Rail, Vivarail, AVL, L&T, Construcciones Y Auxiliar De Ferrocarriles (CAF), and others.
Get Free Report Sample PDF @ https://www.alliedmarketresearch.com/request-sample/7515
Key Findings Of The Study
In 2019, the electro-diesel segment accounted for majority of the share of the global hybrid train market, and is expected to maintain its lead throughout the forecast period.
In 2019, the passenger segment accounted for about 88.4% of share in the global hybrid train market, and is expected to maintain its dominance till the end of the forecast period.
In 2019, the 100-200 km/hr segment accounted for 51.3% market share in 2019, and is anticipated to grow at a rate of 6.8% in terms of revenue, increasing its share in the global hybrid train market.
The passenger segment is the fastest-growing application segment in the Asia-Pacific hybrid train market, and is expected to grow at a CAGR of 6.6% during 2020–2027.
Europe held the dominant share in 2019, and is anticipated to maintain this trend during the forecast period. This is attributed to rise in adoption of hybrid trains from economies such as Germany, France, Spain, and the UK in the region. In addition, rise in urbanization and rail infrastructure construction activities in European countries is increasing the demand for hybrid trains, which further drives the growth of the hybrid train market during the forecast period. Moreover, increase in government initiatives toward reducing carbon emissions is expected to fuel the market growth from 2020 to 2027.
The market across Asia-Pacific is estimated to manifest the highest CAGR of 6.8% during the forecast period.
Enquiry before Buying Report @ https://www.alliedmarketresearch.com/purchase-enquiry/7515
Hybrid train is the locomotive, which utilizes rechargeable energy storage systems placed in between the power source and traction transmission systems. Diesel-electric hybrid trains are most widely used railway vehicles across the globe, owing to their advantages, such as reliability, safety, sustainability, and others, over conventional fuel trains. Railroad transportation is more fuel-efficient than road transport, owing to its ability to efficiently transport heavy loads or passengers with minimum cost and reduced pollution. Therefore, this is expected to increase the demand for hybrid trains in the near future.
Based on application, the passenger application segment holds the largest market share of 88.4% with a growth rate of 6.6%, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to the gaining importance of hybrid trains and reducing the traffic and pollution from road transport. Moreover, rise in demand for traveling safely, reliability, connectivity, and rising urbanization are the key factors driving the passenger hybrid train market growth in the coming years.
Significant development of infrastructure and reduction in carbon emissions are the key factors driving the market growth in the coming years. In addition, rise in population across several regions demands for efficient and sufficient transport infrastructure, which in turn, increases the demand for hybrid rail vehicles during the forecast period.
About Us:
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
Contact us:
David Correa
United States
+1-800-792-5285, +1-503-446-1141