According to the latest report by IMARC Group, “Global Hybrid Train Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global hybrid train market reached a value of US$ 13.71 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 18.73 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.
A hybrid train represents a locomotive transportation medium that is powered by an onboard rechargeable energy storage system (RESS) in combination with other fuel, including diesel. It is located between the power source and traction transmission system that is directly connected with wheels to encourage smooth operations. Furthermore, a hybrid train uses several energy-storing devices, such as flywheels, supercapacitors, batteries, etc., to sustain additional energy produced from regenerative braking. It is more eco-friendly, emission-free, noise-free, etc., than conventional fuel trains. Presently, a hybrid train is commercially available in compressed natural gas (CNG), solar-powered, battery-operated, and electro-diesel propulsion variants.
Hybrid Train Market Trends:
The widespread product adoption as a sustainable, cost-effective, and reliable mode of transportation, owing to the increasing scarcity of natural resources, is primarily driving the hybrid train market. Additionally, the growing number of construction activities to strengthen transportation infrastructures and the rising railway connectivity are also catalyzing the market growth.
Besides this, the launch of various favorable policies by the government bodies across countries to promote the use of alternative fuel-powered trains, such as hybrid trains that meet the required emission and efficiency standards, is acting as another significant growth-inducing factor. Moreover, lithium-ion batteries are extensively utilized in hybrid trains to ensure minimal power consumption, improved voltage capacity, longer charge retention, etc., which is positively influencing the global market. Apart from this, the emerging trend of green transportation solutions is anticipated to fuel the hybrid train market over the forecasted period.
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Global Hybrid Train Market 2022-2027 Competitive Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Major Players Covered:
- Alstom SA
- Ballard Power Systems Inc.
- Construcciones y Auxiliar de Ferrocarriles
- Siemens AG
- Stadler Rail AG
- The Kinki Sharyo Co. Ltd.
- CRRC Corporation Limited
- Hitachi Ltd.
- Rolls-Royce Holdings plc
- Toshiba Infrastructure Systems & Solutions Corporation
- Vivarail Ltd.
Key Market Segmentation:
The report has segmented the market on the basis of propulsion type, operating speed, application and region.
Breakup by Propulsion Type:
- Battery Operated
- Hydrogen Powered
- Gas Powered
- Solar Powered
Breakup by Operating Speed:
- Below 100 Km/h
- 100-200 Km/h
- Above 200 Km/h
Breakup by Application:
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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