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2020

Hybrid Train Market

Hybrid Train Market Size, Share, Competitive Landscape and Trend Analysis Report by Propulsion Type (Electro-Diesel, Battery Operated, Hydrogen Powered, Gas Powered, and Solar Powered), Application (Passenger and Freight), and Operating Speed (Less than 100 km/hr, 100-200 km/hr, and More than 200 km/hr): Global Opportunity Analysis and Industry Forecast, 2020-2027

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Author's: Saurabh Dixit| Rutuja Danekar | Eswara Prasad
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Hybrid Train Market Outlook - 2027

The global hybrid train market size was valued at $16.2 billion in 2019, and is projected to reach $23.9 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027. Hybrid train are railway vehicles that run on alternate sources with electric source as the fixed one. Energy storage devices, such as batteries, supercapacitors, and flywheels, are used to store energy from regenerative braking and additional energy generated during acceleration. Therefore, hybrid train are more cost-effective and reliable solutions for transportation compared to conventional fuel trains. The infrastructure cost associated with hybrid rail system is more than diesel-powered rail system. R&D on technologies for increasing the efficiency of rail transportation system is needed to decrease the cost associated with it, which in turn, is expected to create opportunities for key players in the market.

Rise in government initiatives toward reducing environmental pollution is expected to drive the growth of the hybrid train market during the forecast period. In addition, hybrid train are effectively used in passenger and freight transport applications and are beneficial over conventional trains, which in turn, are expected to fuel the growth of the global market during the analyzed timeframe. Key players in this market are also encouraged due to the initiatives taken by the government in developing the hybrid train network. Therefore, the players in this market are developing new hybrid train models, which in turn, increases their presence in different countries across the globe by means of using their hybrid train solutions in their respective country’s rail network.

Hybrid-Train-Market-2020-2027

The global hybrid train market is segmented on the basis of propulsion type, application, operating speed, and region. Based on propulsion type, it is categorized into electro-diesel, battery operated, hydrogen powered, gas powered, and solar powered. On the basis of application, it is bifurcated into passenger and freight. On the basis of operating speed, it is segmented into less than 100 km/hr, 100-200 km/hr, and more than 200 km/hr. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the hybrid train industry adopt key strategies to stay competitive in the market. Key growth strategies, such as product launches, agreement, joint venture, and partnerships, are adopted by the key players, including Alstom SA, Siemens AG, Bombardier, Inc., CRRC, Wabtec Corporation, and Stadler Rail AG.

For instance, Wabtec Corporation acquired RELCO Locomotives, a locomotive overhaul and maintenance industry player. Through this acquisition, Wabtec Corporation aimed to expand freight services capabilities and capacity to support growth in the remanufacturing and repair business. Furthermore, Bombardier, Inc. partnered with Hitachi Rail SpA. This partnership is aimed at supplying 14 very high-speed Frecciarossa-1000 trains to Italian railways and providing maintenance services for the new trains.

Hybrid Train Market, by Propulsion Type

By propulsion type, the on-grid segment held the largest market share in 2019, owing to rise in demand for electro-diesel trains from the joint electrified and non-electrified trains from the railway industry across the globe. In addition, electro-diesel locomotive offers benefits, including reliability, sustainability, reducing emissions of harmful substances, and others. These features are anticipated to increase the demand for electro-diesel hybrid train in the coming years.

Hybrid Train Market
By Propulsion Type
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Electro-Diesel Hybrid Train is projected as the most lucrative segment.

Hybrid Train Market, by Application

On the basis of application, the passenger segment dominated the global market in 2019, in terms of share, owing to increasing importance of hybrid trains and to 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.

Hybrid Train Market
By Application
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Passenger application is projected as the most lucrative segment.

Hybrid Train Market, by Operating Speed

By operating speed, in 2019, the 100-200 km/hr segment held the largest market share, owing to increase in demand for electro-diesel trains, which generally possess operating speed in between 100-200 km/hr. In addition, other propulsion types, including hydrogen fuel cell powered, battery operated, and other hybrid trains are now mostly produced with maximum speed in the range of 100-200 km/hr, which in turn, is expected to drive the growth of the market during the analyzed time frame.

Hybrid Train Market
By Operating Speed
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100-200 km/hr is projected as the most lucrative segment.

Hybrid Train Market, by Region

Europe registered the highest share in the hybrid train market in 2019, in terms of revenue, and is anticipated to maintain its dominance over the forecast period. This is attributed to rise in adoption of hybrid train 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 train, 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.

Hybrid Train Market
By Region
2027
Europe 
North America
Asia Pacific
LAMEA

Europe holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

COVID-19 impact on the market

Lockdown imposed due to the outbreak of the COVID-19 pandemic has resulted in temporary ban on the import & export and transportation activities, thereby disrupting the supply chain and hampering the market growth in the second, third, and fourth quarter of 2020. However, the market is expected to recover either later this year or by the first quarter of 2021 as the demand for hybrid train from the transport and railway industry increases. 

Key Benefits For Stakeholders

  • The report includes in-depth hybrid train market analysis of different segments and provides estimations between 2020 and 2027.
  • A comprehensive analysis of the factors that drive and restrict the growth of the global hybrid train market is provided.
  • Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the global hybrid train market players to adopt effective strategies.
  • Estimations and forecast are based on factors impacting the global market growth, in terms of value.
  • Key market players are profiled to gain an understanding of the strategies adopted by them.
  • This report provides a detailed analysis of the current global hybrid train market trends and future estimations from 2020 to 2027, which helps identify the prevailing market opportunities.

Key Market Segments

By Propulsion Type

  • Electro-Diesel
  • Battery Operated
  • Hydrogen Powered
  • Gas Powered
  • Solar Powered

By Application

  • Passenger
  • Freight

By Operating Speed

  • Less than 100 km/hr
  • 100-200 km/hr
  • More than 200 km/hr

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Hybrid Train Market Report Highlights

Aspects Details
Hybrid Train Market By PROPULSION TYPE
By PROPULSION TYPE
  • .Electro-Diesel
  • Battery Operated
  • Hydrogen Powered
  • Gas-Powered
  • Solar Powered
Hybrid Train Market By APPLICATION
By APPLICATION
  • Passenger
  • Freight
Hybrid Train Market By OPERATING SPEED
By OPERATING SPEED
  • Less than 100 km/hr
  • 100-200 km/hr
  • More than 200 km/hr
Hybrid Train Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
Key Market Players

Stadler Rail AG, ALSTOM SA, China Railway Rolling Stock Corporation, Hyundai Rotem Company, Wabtec Corporation, BALLARD POWER SYSTEMS, INC., SIEMENS AG, Kawasaki Heavy Industries, Ltd., Bombardier, Inc., TOSHIBA CORPORATION

Analyst Review

Rapid urbanization is the key factor attributed to the leading position of Asia-Pacific in the global hybrid train market growth. The Asia-Pacific region is further expected to provide lucrative opportunities to the leading hybrid train manufacturers, owing to its huge potential to set up manufacturing plants and surge in demand for hybrid trains from the railway industry in the region.

Rapid growth in adoption of hybrid trains to reduce environmental concerns regarding pollution is the key factor driving the growth of the market. In addition, rise in demand for electro-diesel locomotive for passenger and freight applications, owing to its advantages over conventional ones is expected to fuel the market growth in the coming years. Moreover, rise in demand for different fuel options, such as hydrogen fuel cells, solar-powered, battery-operated, gas-powered, and others, to run hybrid trains is expected to create lucrative opportunities for the market during the forecast period.

The renowned global market leaders, such as Alstom SA, Siemens AG, CRRC, Stadler Rail AG, and Bombardier, Inc., are adopting various key growth strategies to strengthen their market position. Furthermore, these companies are focused on product launch, agreement, partnership, and acquisition to cater to the increase in demand for hybrid trains.

Among the analyzed regions, Asia-Pacific is likely to account for the highest revenue growth rate in the hybrid train market over the forecast period, followed by Europe and North America.
 

Author Name(s) : Saurabh Dixit| Rutuja Danekar | Eswara Prasad
Frequently Asked Questions?

Increase in government initiatives towards reducing environmental pollution and benefits of hybrid trains over conventional trains are the key factors boosting the hybrid train market.

Passenger & freight applications are expected to drive the adoption of hybrid trains.

To get latest version of hybrid trains market report can be obtained on demand from the website.

On the basis of propulsion type, electro-diesel segment will drive the hybrid train market growth during the forecast period. On the basis of application, passenger segment will drive the growth of the hybrid train market. On the basis of operating speed, 100-200 km/hr hybrid trains will propel the growth of the market.

Rise in demand for environmentally friendly and energy efficient trains for the passenger and freight transport is the main driver of hybrid trains market.

The top ten market players are selected based on two key attributes - competitive strength and market positioning

Top players in the hybrid train market are 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.

In terms of revenue, the global hybrid train market was valued at $16.2 billion in 2019 and is expected to reach $23.9 billion by 2027.

On the basis of propulsion type, electro-diesel propulsion is expected to fuel the growth of the hybrid train market during the forecast period.

Lockdown imposed due to the outbreak of the COVID-19 pandemic has resulted in temporary ban on the import & export, and transportation activities, thereby disrupting the supply chain and hampering the hybrid train market growth in the second, third, and fourth quarter of 2020. However, the market is expected to recover in the late year or by the first quarter of 2021 as the demand for hybrid train from the transport and railway industry increases.

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Hybrid Train Market

Global Opportunity Analysis and Industry Forecast, 2020-2027