Market Research Report
Hybrid Train Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||925246|
|Published||Content info||50 Pages
Delivery time: 2-3 business days
|Hybrid Train Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: February 1, 2020||Content info: 50 Pages||
The hybrid train market (henceforth referred to as the market studied) is anticipated to register a CAGR of about 5.60% during the forecast period (2020 - 2025).
The Growing Demand for Efficient and Low-Emission Rails
Train transportation is the most electrified transport sector. Globally, approximately 75% of the rail passenger movements and half of rail freight relies on electricity. Trains accounts for 8% of the world's motorized passenger movements and 7% of freight transport yet uses just 2% of the world's transport energy demand. The demand for rail energy remained the constant till last couple of years back. However, the demand for more energy efficient rails has increased over the last few years due to the on-going concerns over green transportation.
According to the International Energy Agency around 0.3% of CO2 emissions from fossil fuels come from trains. However, the emissions from trains vary widely, depending on if they are powered by diesel or electricity, as well as how that electricity is generated.
Electric trains can reduce emissions compared with diesel-powered trains, but only if the power generation mix is not dependent on fuels with high carbon content, such as coal.
Europe Is Likely to Lead The Hybrid Train Market
The Hybrid Train market is anticipated to dominated by Europe followed by Asia-Pacific and North America respectively. The European countries are rapidly launching hybrid trains. For instance,
Asia-Pacific is also one of the biggest market for rail industry and the demand for greener trains is growing in the region. Asia Pacific comprises emerging economies such as China and India along with developed economies such as Japan. The implementation of new technologies and the establishment of new government regulations are driving this market in this region.
The Hybrid train market is dominated by Bombardier; CRRC, Alstom, Kawasaki Heavy Industries, Ltd., Siemens, General Electric, Hyundai Rotem Company, Hitachi Ltd., Toshiba Corporation, and amongst others. The market players are expanding their business by making partnerships, by opening new plants, further by offering wide range of products in the hybrid train market.