Hybrid Train Global Market Report 2024

Description

Hybrid Train Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on hybrid train market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for hybrid train? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hybrid train market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Propulsion: Electro-Diesel; Battery Operated; Hydrogen Powered; Gas Powered; Solar Powered
2) By Operational Speed: Below 100 km/h; 100-200 km/h; Above 200 km/h
3) By Application: Freight; Passenger
Companies Mentioned: CRRC Corporation Limited; Alstom SA; Siemens AG; Wabtec Corporation; Hyundai Rotem Company
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Hybrid trains are a type of train that utilizes an energy-efficient combination of a conventional diesel engine and an electric drive system. These trains operate with a dual fuel system, employing electricity as the primary fixed fuel source. The primary purpose of hybrid trains is to transport both passengers and cargo.

The main types of hybrid train propulsion encompass various technologies such as electro-diesel, battery-operated, hydrogen-powered, gas-powered, and solar-powered. Electro-diesel hybrid trains have the capability to operate on both diesel and electricity, providing flexibility in various scenarios. These trains may operate at different speeds, categorized as below 100 km/h, 100-200 km/h, and above 200 km/h, catering to applications in both freight and passenger transportation.

The hybrid train market research report is one of a series of new reports from The Business Research Company that provides hybrid train market statistics, including hybrid train industry global market size, regional shares, competitors with a hybrid train market share, detailed hybrid train market segments, market trends and opportunities, and any further data you may need to thrive in the hybrid train industry. This hybrid train market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The hybrid train market size has grown strongly in recent years. It will grow from $17.24 billion in 2023 to $18.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth observed in the historical period can be attributed to factors such as environmental regulations, the rise in fuel costs, government initiatives and incentives, urbanization and congestion issues, and innovations in the rail industry.

The hybrid train market size is expected to see strong growth in the next few years. It will grow to $24.41 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The projected growth in the forecast period can be credited to factors such as the competitive landscape, heightened public awareness and perception, global market expansion, a concentrated focus on innovation and research and development (R&D), and the implementation of demonstration projects and pilot programs. Key trends expected in this period include the electrification of transport, compliance with environmental regulations and efforts towards emission reduction, integration of hydrogen fuel cells, the development of smart and connected railways, and an increased emphasis on energy efficiency initiatives.

The hybrid train market is anticipated to witness growth due to the increasing global emphasis on reducing emissions from railways. Governments and stakeholders are actively working toward minimizing carbon footprints in the transportation sector. Hybrid trains, known for their reduced fuel consumption, align with these environmental objectives, providing both ecological benefits and economic savings. As an illustration, Indian Railways is committed to electrifying its entire rail network by December 2023 and achieving complete electrification by the fiscal year 2024. This involves an increased use of renewable energy to electrify the traction network, contributing to energy efficiency and emission reduction. The rising focus on emission reduction from railways is expected to be a key driver for the hybrid train market.

The hybrid train market is poised for growth with the surge in the development and testing of autonomous trains. Autonomous trains operate without direct human intervention, utilizing advanced technologies like sensors, cameras, and artificial intelligence. In October 2022, Union Pacific Railroad and ZTR partnered to build hybrid-electric locomotives, enhancing fuel efficiency and aligning with sustainability goals. The autonomous capabilities of these trains are crucial for making precise operational decisions. This trend signifies a significant technological advancement in the rail industry and is expected to contribute to the growth of the hybrid train market.

A key trend gaining popularity in the hybrid train market is the development of battery-operated trains, offering an environmentally friendly transportation alternative. Declining prices of lithium-ion batteries over the next few years make battery-powered trains a sustainable and cost-effective choice for the railway industry. An example is the West Central Railway in India, which introduced a battery-operated dual-mode locomotive capable of running on both battery and electricity modes. This innovation presents a promising solution for reducing diesel consumption and promoting eco-friendly transportation in the hybrid train market.

Major companies in the hybrid train market are directing their attention toward hydrogen-powered trains to sustain their market position. Hydrogen-powered trains utilize fuel cells to generate electricity, producing zero carbon emissions and only water vapor. For instance, East Japan Railway (JR East) introduced the Hydrogen-Hybrid Advanced Rail Vehicle for Innovation (HYBARI) in February 2022. Equipped with a hydrogen-powered fuel cell system and storage batteries, this test train signifies a commitment to environmentally friendly transportation. JR East plans to initiate test runs in late March 2022, with commercial operations slated to begin in 2030. The adoption of hydrogen-powered trains is expected to contribute significantly to the growth and sustainability of the hybrid train market.

In February 2023, Great Western Railway (GWR), a prominent UK-based train operating company, successfully acquired multiple assets from Vivarail for an undisclosed sum. This comprehensive acquisition encompasses intellectual property, rolling stock, and equipment associated with the advancement of battery and hybrid trains, along with FastCharge technology. Vivarail, the UK-based manufacturer specializing in battery and hybrid trains, is the entity divesting these assets as part of the transaction.

Major companies operating in the hybrid train market report are CRRC Corporation Limited, Alstom SA, Siemens AG, Wabtec Corporation, Hyundai Rotem Company, Bombardier Inc., Stadler Rail AG, Hitachi Ltd., Ballard Power Systems Inc., Construcciones y Auxiliar de Ferrocarriles SA, Rolls-Royce Holdings PLC, The Kinki Sharyo Co. Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Vivarail Ltd., Thales Group, Kawasaki Heavy Industries Ltd., Cummins Inc., ABB Ltd., General Electric Company, Caterpillar Inc., Voith GmbH & Co. KGaA, Mitsubishi Heavy Industries Ltd., Vossloh AG, Skoda Transportation AS, Newag S.A., PESA Bydgoszcz S.A., Staubli Electrical Connectors AG, Prodrive Technologies B.V., TMH International AG, ZF Friedrichshafen AG, Faiveley Transport S.A., Knorr-Bremse AG, Akiem Group S.A., Talgo S.A.

Europe was the largest region in the hybrid train market share in 2023. The regions covered in the hybrid train market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the hybrid train market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The hybrid train market consists of sales of batteries, super capacitors, electronic power converters, and electric motors. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r12783

1. Executive Summary

2. Hybrid Train Market Characteristics

3. Hybrid Train Market Trends And Strategies

4. Hybrid Train Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Hybrid Train Market Size and Growth

5.1. Global Hybrid Train Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Hybrid Train Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Hybrid Train Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Hybrid Train Market Segmentation

6.1. Global Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Electro-Diesel
Battery Operated
Hydrogen Powered
Gas Powered
Solar Powered
6.2. Global Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Below 100 km/h
100-200 km/h
Above 200 km/h
6.3. Global Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Freight
Passenger

7. Hybrid Train Market Regional And Country Analysis

7.1. Global Hybrid Train Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Hybrid Train Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Hybrid Train Market

8.1. Asia-Pacific Hybrid Train Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Hybrid Train Market

9.1. China Hybrid Train Market Overview
9.2. China Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Hybrid Train Market

10.1. India Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Hybrid Train Market

11.1. Japan Hybrid Train Market Overview
11.2. Japan Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Hybrid Train Market

12.1. Australia Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Hybrid Train Market

13.1. Indonesia Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Hybrid Train Market

14.1. South Korea Hybrid Train Market Overview
14.2. South Korea Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Hybrid Train Market

15.1. Western Europe Hybrid Train Market Overview
15.2. Western Europe Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Hybrid Train Market

16.1. UK Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Hybrid Train Market

17.1. Germany Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Hybrid Train Market

18.1. France Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Hybrid Train Market

19.1. Italy Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Hybrid Train Market

20.1. Spain Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Hybrid Train Market

21.1. Eastern Europe Hybrid Train Market Overview
21.2. Eastern Europe Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Hybrid Train Market

22.1. Russia Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Hybrid Train Market

23.1. North America Hybrid Train Market Overview
23.2. North America Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Hybrid Train Market

24.1. USA Hybrid Train Market Overview
24.2. USA Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Hybrid Train Market

25.1. Canada Hybrid Train Market Overview
25.2. Canada Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Hybrid Train Market

26.1. South America Hybrid Train Market Overview
26.2. South America Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Hybrid Train Market

27.1. Brazil Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Hybrid Train Market

28.1. Middle East Hybrid Train Market Overview
28.2. Middle East Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Hybrid Train Market

29.1. Africa Hybrid Train Market Overview
29.2. Africa Hybrid Train Market, Segmentation By Propulsion, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Hybrid Train Market, Segmentation By Operational Speed, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Hybrid Train Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Hybrid Train Market Competitive Landscape And Company Profiles

30.1. Hybrid Train Market Competitive Landscape
30.2. Hybrid Train Market Company Profiles
- 30.2.1. CRRC Corporation Limited
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Alstom SA
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Siemens AG
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Wabtec Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Hyundai Rotem Company
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Hybrid Train Market Competitive Benchmarking

32. Global Hybrid Train Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Hybrid Train Market

34. Hybrid Train Market Future Outlook and Potential Analysis

34.1 Hybrid Train Market In 2028 - Countries Offering Most New Opportunities
34.2 Hybrid Train Market In 2028 - Segments Offering Most New Opportunities
34.3 Hybrid Train Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer