Market Research Report
Hybrid Train - Global Market Outlook (2019-2027)
|Published by||Stratistics Market Research Consulting||Product code||951514|
|Published||Content info||130 Pages
Delivery time: 2-3 business days
|Hybrid Train - Global Market Outlook (2019-2027)|
|Published: July 1, 2020||Content info: 130 Pages||
According to Stratistics MRC, the Global Hybrid Train Market is accounted for $39,603.6 million in 2019 and is expected to reach $73,249.26 million by 2027 growing at a CAGR of 8.0% during the forecast period. Growing demand for energy-efficient transport system and rising demand for comfort and safety are the major factors driving the market growth. However, capital-intensive nature of trains is restraining the market growth.
A hybrid train is an engine that uses an on-board rechargeable energy storage system (RESS), that is set up in the middle of the source to provide power and the electric system of the train that is interconnected to the wheels. They are environmental friendly, emission free and effective.
Based on propulsion, the electro diesel segment is likely to have a huge demand as these railway vehicles are used across all the regions of the globe as they may replace their diesel counterparts. These train sets have been successfully generating savings in operation and maintenance costs. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to increasing demand for ecofriendly trains to reduce pollution and the rising demand for energy efficient trains that use alternative fuel. Moreover, China's rapidly growing economy is driving the expansion of the market to improve the transport systems in the country and make them more ecofriendly.
Some of the key players profiled in the Hybrid Train Market include CRRC, Alstom, Ballard, BNSF, Bombardier, Construcciones Y Auxiliar De Ferrocarriles (CAF), Cummins, General Electric, Hitachi, Hyundai Rotem, Kawasaki Heavy Industries, Siemens, Toshiba and Toyota.
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Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances