Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||994605|
|Published||Content info||134 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 134 Pages||
Global Hybrid Trains Market to Reach 6.3 Thousand Units by 2027
Amid the COVID-19 crisis, the global market for Hybrid Trains estimated at 4.8 Thousand Units in the year 2020, is projected to reach a revised size of 6.3 Thousand Units by 2027, growing at a CAGR of 4% over the analysis period 2020-2027. Electro Diesel, one of the segments analyzed in the report, is projected to record a 2.9% CAGR and reach 2.7 Thousand Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Battery Operated segment is readjusted to a revised 5.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at 1.4 Thousand Units, While China is Forecast to Grow at 3.8% CAGR
The Hybrid Trains market in the U.S. is estimated at 1.4 Thousand Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 1.1 Thousand Units by the year 2027 trailing a CAGR of 3.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 3.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.
Hydrogen Powered Segment to Record 4.6% CAGR
In the global Hydrogen Powered segment, USA, Canada, Japan, China and Europe will drive the 4.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of 731.9 Units in the year 2020 will reach a projected size of 1 Thousand Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 723.8 Units by the year 2027.
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