Global Hybrid Train Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2028
The new report by Expert Market Research titled, ‘Global Hybrid Train Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global hybrid trains market, assessing the market based on its segments like propulsions, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.3%
The increasing demand for hybrid trains in the international logistics transportation sector, owing to the pollution-free, noise-free, high performance, and high-efficiency of these trains is driving the market growth globally. The stringent government policies aimed towards reducing the carbon emissions are anticipated to propel the market growth in the forecast period. Moreover, significant advantages of the hybrid trains include wide automatic sliding doors, and reliable and high-speed interconnection control system, which bolsters the convenience and safety of the passengers and freights. Geographically, the Asia Pacific region accounts for a significant share in the market owing to the technological advancements in the transportation sector and increasing popularity of hybrid trains in China, Japan, and South Korea, among others.
Industry Definition and Major Segments
Hybrid train is defined as a locomotive, railcar, or train which runs on electricity. In hybrid trains, energy storage devices, such as supercapacitors, batteries, and flywheels, store energy for the utilization in acceleration and regenerative braking. Moreover, in hybrid train, some other essential components are installed which include power electronics box (PEB), power distribution box (PDB), and auxiliary power module (APM).
On the basis of propulsion, the market can be segmented into:
• Battery Operated
• Electro Diesel
• Hydrogen Powered
Based on application, the market can be bifurcated into:
The regional markets for hybrid train include:
• North America
• Europe Hybrid Trains Market
• Asia Pacific
• Latin America
• Middle East and Africa
The key trends in the hybrid train market include the rapid trials of the hybrid drive trial systems owing to the rising demand for hybrid train vehicles in the transportation sector. In February 2022, Chiltren Railways announced the launch of battery-diesel hybrid train in the United Kingdom. The technological advancements in the transportation sector, aimed towards reducing the dependence of trains and railcars on natural resources, and carrying out logistical improvements are anticipated to augment the market in the forecast period. Moreover, the increasing efforts of the government of emerging economies to fill the production gap in the transportation sector with advanced countries is likely to offer lucrative opportunities to the market in the forecast period.
Key Market Players
The major players in the market are CRRC CORPORATION LIMITED, ALSTOM Holdings, Siemens Mobility GmbH, Hitachi Rail Limited, Rolls-Royce plc, and Toshiba Infrastructure Systems & Solutions Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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