Report Code: A10028 | Nov 2023 | Pages: NA | ||
Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
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A locomotive is a rail transport used for pulling a train or hauling railroad cars on tracks. Locomotives are categorized into freight, passenger, and repowered locomotives, and are powered by diesel, electricity, or steam. The increasing rate of urbanization has been contributing to the growing popularity of locomotives. Expansion of rail networks in developed and developing nations and increasing concern among individuals regarding environmental sustainability lead to the growth of global locomotives market. Significant investment in the development of railway infrastructure for freight and high-speed trains is expected to boost the growth of the global locomotive market in near future.
COVID-19 SCENARIO ANALYSIS
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The significant factors impacting the growth of global locomotive market are expansion of railways network and growing population of the countries. However, high initial investment and maintenance cost hampers the growth of global locomotive market. On the other hand, e-mobility and technological advancements provides an opportunity in the locomotive market and will tremendously grow in near future.
Expansion of railways network
With the need of improving connectivity between remote and local areas, railway network is also expanding. To expand the railway networks the need of the locomotives such as freight, passenger, and repowered locomotives has increased. Thus increase in locomotives has resulted in the growth of global locomotive market.
Growing population of the countries
Since there is a continuous growth in the population,people tend to move from one place to another for various reasons i.e. for personal and trade purposes. To carry or to move these people, there is a need for increased resources. These resources increases the demand of locomotives. Thus resulting in the growth of global locomotive market in near future.
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Questions answered in the global locomotive market research report:
Locomotive Market Report Highlights
Aspects | Details |
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By Type |
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By Technology |
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By Operational engine |
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By end use |
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By Component |
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By Region |
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Key Market Players | Bombardier, CRRC, AEG Power Solutions B.V., Siemens, Strukton, TOSHIBA CORPORATION, Bharat Heavy Electricals Limited, Alstom, Hitachi Ltd., Wabtec Corporation |
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