Hybrid Train Market
Hybrid Train Market Forecasts to 2030 - Global Analysis By Component (Energy Storage System, Traction Motors, Engine Generator, Control System and Other Components), Propulsion Type, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Hybrid Train Market is accounted for $17.63 billion in 2023 and is expected to reach $29.06 billion by 2030 growing at a CAGR of 7.4% during the forecast period. A hybrid train is a locomotive that utilizes two or more power sources for propulsion, typically combining an internal combustion engine with an electric motor or other alternative energy sources such as hydrogen fuel cells or batteries. This design allows for increased efficiency and reduced emissions compared to traditional diesel-only trains. Hybrid trains often employ regenerative braking systems to capture and store energy during deceleration, further enhancing their energy efficiency.
According to Worldwiderail, diesel locomotives cost around USD 0.5-USD 2 million, and an electric locomotive costs more than USD 6 million.
Market Dynamics:
Driver:
Growing concerns over pollution and climate change
With a focus on reducing emissions and carbon footprints, hybrid trains offer a sustainable alternative to conventional diesel-powered locomotives. Their ability to integrate electric propulsion systems significantly decreases greenhouse gas emissions and improves air quality in urban areas. Governments and environmental organizations are incentivizing the adoption of eco-friendly transportation solutions, positioning hybrid trains as a key player in mitigating environmental impact while meeting the increasing demand for efficient and sustainable mobility solutions.
Restraint:
Infrastructure challenges
Infrastructure challenges in hybrid trains include limited availability of electrified tracks and charging stations, especially in remote or less-developed areas. This lack of infrastructure hampers the widespread adoption of hybrid trains, as operators may face difficulties in ensuring reliable operations across their routes. Without adequate infrastructure, the potential benefits of hybrid trains, such as reduced emissions and improved fuel efficiency, cannot be fully realized, slowing down market growth and adoption.
Opportunity:
Increasing urbanization and population growth
As cities become more crowded, there's a greater need for reliable and eco-friendly modes of transit to alleviate traffic congestion and reduce pollution. Hybrid trains offer a viable solution by combining electric propulsion with conventional systems, providing efficient and environmentally friendly mass transit options for urban commuters. This growing demand from densely populated urban areas fuels the market growth for hybrid trains as a viable solution for modern transit needs.
Threat:
Maintenance complexities
Maintenance complexities in hybrid trains arise from the integration of multiple propulsion systems, including electric and conventional engines, along with onboard energy storage components. This complexity increases maintenance requirements, leading to higher costs and potential downtimes. Consequently, the perception of higher maintenance complexities can hinder market growth as operators may opt for more conventional and easier-to-maintain rail technologies.
Covid-19 Impact
The covid-19 pandemic initially slowed the hybrid train market due to reduced passenger demand and disrupted supply chains. However, as economies recover, there's a renewed focus on sustainable transportation and resilience against future crises. Governments prioritized investments in hybrid trains as part of stimulus packages, accelerating market growth. Additionally, heightened awareness of public health and environmental concerns could further drive the adoption of hybrid trains as a cleaner and safer mode of transportation.
The battery-electric segment is expected to be the largest during the forecast period
The battery-electric segment is estimated to have a lucrative growth. Battery-electric hybrid trains integrate battery technology with electric propulsion, offering a sustainable alternative to traditional diesel trains. These trains use batteries to store and supply energy, reducing emissions and fuel consumption. They can operate on electrified tracks while utilizing batteries for non-electrified sections, providing flexibility and environmental benefits. They contribute to the decarbonization of rail transport and are increasingly favoured as a clean and efficient mode of transportation for both passengers and freight.
The public transportation authorities segment is expected to have the highest CAGR during the forecast period
The public transportation authorities segment is anticipated to witness the highest CAGR growth during the forecast period, due to their versatility and environmental benefits. They offer a sustainable solution for urban and regional transit networks, reducing emissions and operating costs. They utilize hybrid trains to improve service reliability, decrease air pollution, and meet sustainability goals. The ability of hybrid trains to operate on both electrified and non-electrified tracks makes them suitable for various routes, enhancing the efficiency of public transit systems.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period. Rapid urbanization, increasing population, and governmental initiatives aimed at reducing emissions propel the demand for sustainable transportation solutions. Countries like China, Japan, and India are investing in hybrid train technology to modernize their railway systems and improve energy efficiency. Moreover, advancements in hybrid propulsion systems and supportive policies contribute to market expansion. The Asia-Pacific region is poised to become a key market for hybrid trains, addressing the region's growing transportation needs while promoting environmental sustainability.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to environmental concerns and advancements in technology. Government initiatives promoting sustainable transportation solutions further propel market expansion. Major players like Bombardier Transportation and Wabtec Corporation dominate the market, providing hybrid locomotives tailored to the region's rail infrastructure. With increasing focus on eco-friendly transit options and ongoing innovation, the North American hybrid train market is poised for continued advancement and adoption in the coming years.
Key players in the market
Some of the key players profiled in the Hybrid Train Market include Mitsubishi Heavy Industries, Siemens Mobility, ABB Limited, CRRC Corporation Limited, Hyundai Rotem Company, Kawasaki Heavy Industries, Stadler Rail, Hitachi Rail, General Electric Transportation, Skoda Transportation, Greenbrier Companies, CIMIC Group, Alstom, Toshiba Corporation, Bharat Heavy Electricals Limited (BHEL), Knorr-Bremse AG and Bombardier Transportation.
Key Developments:
In August 2023, Alstom and the Verkehrsverbund Mittelsachsen (VMS) of Central Saxony unveiled a new battery-powered train in Chemnitz, Germany. VMS has ordered a total of eleven Coradia Continental battery-electric trains. These trains will begin service on the Chemnitz-Leipzig route in 2024.
In May 2023, Siemens Mobility and Niederbarnimer Eisenbahn (NEB) unveiled the final design of the Mireo Plus, which will enter operation on the Heidekrautbahn and East Brandenburg train networks in December 2024.
Components Covered:
• Energy Storage System
• Traction Motors
• Engine Generator
• Control System
• Other Components
Propulsion Types Covered:
• Diesel-Electric
• Battery-Electric
• Hydrogen Fuel Cell
• Dual-Fuel
• Other Propulsion Types
Technologies Covered:
• Parallel Hybrid Trains
• Series Hybrid Trains
• Power-Split Hybrid Trains
Applications Covered:
• Passenger Trains
• Freight Trains
• Mixed-Use Trains
• Other Applications
End Users Covered:
• Public Transportation Authorities
• Private Operators
• Government Agencies
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Hybrid Train Market, By Component
5.1 Introduction
5.2 Energy Storage System
5.3 Traction Motors
5.4 Engine Generator
5.5 Control System
5.6 Other Components
6 Global Hybrid Train Market, By Propulsion Type
6.1 Introduction
6.2 Diesel-Electric
6.3 Battery-Electric
6.4 Hydrogen Fuel Cell
6.5 Dual-Fuel
6.6 Other Propulsion Types
7 Global Hybrid Train Market, By Technology
7.1 Introduction
7.2 Parallel Hybrid Trains
7.3 Series Hybrid Trains
7.4 Power-Split Hybrid Trains
8 Global Hybrid Train Market, By Application
8.1 Introduction
8.2 Passenger Trains
8.3 Freight Trains
8.4 Mixed-Use Trains
8.5 Other Applications
9 Global Hybrid Train Market, By End User
9.1 Introduction
9.2 Public Transportation Authorities
9.3 Private Operators
9.4 Government Agencies
9.5 Other End Users
10 Global Hybrid Train Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Mitsubishi Heavy Industries
12.2 Siemens Mobility
12.3 ABB Limited
12.4 CRRC Corporation Limited
12.5 Hyundai Rotem Company
12.6 Kawasaki Heavy Industries
12.7 Stadler Rail
12.8 Hitachi Rail
12.9 General Electric Transportation
12.10 Skoda Transportation
12.11 Greenbrier Companies
12.12 CIMIC Group
12.13 Alstom
12.14 Toshiba Corporation
12.15 Bharat Heavy Electricals Limited (BHEL)
12.16 Knorr-Bremse AG
12.17 Bombardier Transportation
List of Tables
1 Global Hybrid Train Market Outlook, By Region (2021-2030) ($MN)
2 Global Hybrid Train Market Outlook, By Component (2021-2030) ($MN)
3 Global Hybrid Train Market Outlook, By Energy Storage System (2021-2030) ($MN)
4 Global Hybrid Train Market Outlook, By Traction Motors (2021-2030) ($MN)
5 Global Hybrid Train Market Outlook, By Engine Generator (2021-2030) ($MN)
6 Global Hybrid Train Market Outlook, By Control System (2021-2030) ($MN)
7 Global Hybrid Train Market Outlook, By Other Components (2021-2030) ($MN)
8 Global Hybrid Train Market Outlook, By Propulsion Type (2021-2030) ($MN)
9 Global Hybrid Train Market Outlook, By Diesel-Electric (2021-2030) ($MN)
10 Global Hybrid Train Market Outlook, By Battery-Electric (2021-2030) ($MN)
11 Global Hybrid Train Market Outlook, By Hydrogen Fuel Cell (2021-2030) ($MN)
12 Global Hybrid Train Market Outlook, By Dual-Fuel (2021-2030) ($MN)
13 Global Hybrid Train Market Outlook, By Other Propulsion Types (2021-2030) ($MN)
14 Global Hybrid Train Market Outlook, By Technology (2021-2030) ($MN)
15 Global Hybrid Train Market Outlook, By Parallel Hybrid Trains (2021-2030) ($MN)
16 Global Hybrid Train Market Outlook, By Series Hybrid Trains (2021-2030) ($MN)
17 Global Hybrid Train Market Outlook, By Power-Split Hybrid Trains (2021-2030) ($MN)
18 Global Hybrid Train Market Outlook, By Application (2021-2030) ($MN)
19 Global Hybrid Train Market Outlook, By Passenger Trains (2021-2030) ($MN)
20 Global Hybrid Train Market Outlook, By Freight Trains (2021-2030) ($MN)
21 Global Hybrid Train Market Outlook, By Mixed-Use Trains (2021-2030) ($MN)
22 Global Hybrid Train Market Outlook, By Other Applications (2021-2030) ($MN)
23 Global Hybrid Train Market Outlook, By End User (2021-2030) ($MN)
24 Global Hybrid Train Market Outlook, By Public Transportation Authorities (2021-2030) ($MN)
25 Global Hybrid Train Market Outlook, By Private Operators (2021-2030) ($MN)
26 Global Hybrid Train Market Outlook, By Government Agencies (2021-2030) ($MN)
27 Global Hybrid Train Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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