Locomotive Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component, By Type, By Technology, By Operational Engine, By End Use, By Region & Competition, 2021-2031F

Description

The Global Locomotive Market is projected to expand from a valuation of USD 20.19 Billion in 2025 to USD 33.95 Billion by 2031, reflecting a CAGR of 9.05%. Locomotives, defined as self-propelled vehicles that provide the necessary motive power to haul trains, act as the crucial propulsion units for moving passengers and freight across rail networks. The market is primarily driven by the escalating global need for efficient bulk cargo transport and rigorous government mandates for decarbonization, which require the renewal of existing fleets. These drivers are further strengthened by significant public investments aimed at modernizing aging railway infrastructure to handle heavier loads and higher speeds, with UNIFE projecting that the global rail supply market will grow by an annual average of 3 percent in real terms between 2027 and 2029.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 20.19 Billion
Market Size 2031	USD 33.95 Billion
CAGR 2026-2031	9.05%
Fastest Growing Segment	Diesel
Largest Market	Asia Pacific

Despite these strong growth indicators, the market encounters a major obstacle regarding international market accessibility. An increase in protectionist trade policies and strict local content mandates is restricting the capacity of foreign manufacturers to bid for contracts in key jurisdictions. This reduction in open market access constrains competition and adds complexity to global supply chains, presenting a significant challenge that could impede the broader expansion of the global locomotive industry.

Market Driver

Increasing government investment in rail infrastructure modernization acts as a primary catalyst for the global locomotive market, with funds increasingly allocated to upgrading aging fleets and expanding network capacities. Administrations around the world are prioritizing rail reliability, generating significant procurement opportunities for manufacturers of advanced rolling stock. This trend is visible in funding initiatives designed to strengthen supply chains and passenger services; for instance, Progressive Railroading reported in October 2024 that the Federal Railroad Administration awarded over $2.4 billion in CRISI grants specifically to fund projects such as track upgrades and the acquisition of modern locomotives, facilitating immediate purchases and stimulating long-term development.

Concurrently, the transition toward alternative propulsion systems, such as hydrogen and hybrid engines, is transforming market dynamics as operators aim to meet decarbonization mandates. Rail companies are actively replacing diesel units with zero-emission technologies to comply with environmental regulations, accelerating the commercial deployment of compliant motive power. As reported by Railway PRO in January 2024, Ferrovie del Sud Est awarded Alstom a contract for two Coradia Stream H hydrogen trains to replace diesel vehicles, while Siemens Mobility reinforced this momentum in 2024 by signing a framework agreement with Railpool for the delivery of up to 250 locomotives, underscoring the sustained demand for advanced traction units.

Market Challenge

Restricted access to international markets, resulting from rising protectionist trade policies, serves as a formidable barrier to the Global Locomotive Market. Requirements for local content and preferential treatment for domestic manufacturers are increasingly preventing foreign suppliers from competing for major contracts, effectively fragmenting the global landscape. This trend not only suppresses competition but also disrupts supply chains, compelling companies to duplicate manufacturing efforts or navigate complex regulatory environments to gain entry, resulting in reduced operational efficiencies and higher costs that slow down the broader deployment of advanced locomotive technologies across borders.

The extent of this exclusion is quantified by recent industry analysis which highlights a worrying contraction in open bidding opportunities. According to UNIFE data from 2024, the accessible market share for international suppliers fell to approximately 59 percent for the 2021-2023 period, continuing a historical downward trend. This reduction indicates that a significant portion of global demand is now closed to cross-border bidding, creating an uneven playing field that limits revenue potential for global manufacturers and concentrates market power within isolated domestic sectors, directly impeding the locomotive industry's ability to capitalize on rising demand.

Market Trends

The integration of AI-driven predictive maintenance solutions is fundamentally changing fleet management strategies by shifting operators from reactive repairs to condition-based interventions. By leveraging real-time data from onboard sensors, these systems analyze component health to forecast failures before they occur, thereby maximizing asset availability and operational efficiency. This technology is becoming a standard requirement for modern locomotives to mitigate high costs associated with unscheduled downtime; for example, Informed Infrastructure reported in July 2024 that Siemens Mobility's Railigent X application suite, which combines IoT and AI, can reduce costs due to service delays by up to 40 percent, accelerating the adoption of digital ecosystem platforms.

The advancement of autonomous and driverless train technologies is rapidly progressing from experimental pilot programs to viable commercial applications intended to address labor shortages and enhance network capacity. Manufacturers and research institutes are investing heavily in Grade of Automation systems that enable remote control and train-to-train communication, removing the reliance on traditional trackside signaling. This push toward automation is evidenced by significant R&D initiatives, such as the Korea Railroad Research Institute concluding a 33.1 billion won program to validate 5G-based autonomous train control technology as reported by Railway Gazette in October 2024, indicating a future where locomotive fleets operate with higher precision and reduced human intervention.

Key Market Players

CRRC Corporation Limited
Alstom SA
Siemens AG
Wabtec Corporation
Hitachi Ltd
Mitsubishi Heavy Industries Ltd
Bharat Heavy Electricals Limited
Toshiba Corporation
Transmashholding
Bombardier Transportation

Report Scope

In this report, the Global Locomotive Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Locomotive Market, By Component

Rectifier
Inverter
Traction motor
Alternator
Auxiliary Power Conversion Unit

Locomotive Market, By Type

Diesel
Electric
Diesel-Electric

Locomotive Market, By Technology

IGBT Module
GTO Thyristor
SiC Module

Locomotive Market, By Operational Engine

Station Pilot
Banking Engine
Pilot Engine
Others (Train Engine, Light Engine)

Locomotive Market, By End Use

Freight
Passenger
Others

Locomotive Market, By Region

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Locomotive Market.

Available Customizations:

Global Locomotive Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Locomotive Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Component (Rectifier, Inverter, Traction motor, Alternator, Auxiliary Power Conversion Unit)
- 5.2.2. By Type (Diesel, Electric, Diesel-Electric)
- 5.2.3. By Technology (IGBT Module, GTO Thyristor, SiC Module)
- 5.2.4. By Operational Engine (Station Pilot, Banking Engine, Pilot Engine, Others (Train Engine, Light Engine))
- 5.2.5. By End Use (Freight, Passenger, Others)
- 5.2.6. By Region
- 5.2.7. By Company (2025)
5.3. Market Map

6. North America Locomotive Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Component
- 6.2.2. By Type
- 6.2.3. By Technology
- 6.2.4. By Operational Engine
- 6.2.5. By End Use
- 6.2.6. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Locomotive Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Component
    - 6.3.1.2.2. By Type
    - 6.3.1.2.3. By Technology
    - 6.3.1.2.4. By Operational Engine
    - 6.3.1.2.5. By End Use
- 6.3.2. Canada Locomotive Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Component
    - 6.3.2.2.2. By Type
    - 6.3.2.2.3. By Technology
    - 6.3.2.2.4. By Operational Engine
    - 6.3.2.2.5. By End Use
- 6.3.3. Mexico Locomotive Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Component
    - 6.3.3.2.2. By Type
    - 6.3.3.2.3. By Technology
    - 6.3.3.2.4. By Operational Engine
    - 6.3.3.2.5. By End Use

7. Europe Locomotive Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Component
- 7.2.2. By Type
- 7.2.3. By Technology
- 7.2.4. By Operational Engine
- 7.2.5. By End Use
- 7.2.6. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Locomotive Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Component
    - 7.3.1.2.2. By Type
    - 7.3.1.2.3. By Technology
    - 7.3.1.2.4. By Operational Engine
    - 7.3.1.2.5. By End Use
- 7.3.2. France Locomotive Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Component
    - 7.3.2.2.2. By Type
    - 7.3.2.2.3. By Technology
    - 7.3.2.2.4. By Operational Engine
    - 7.3.2.2.5. By End Use
- 7.3.3. United Kingdom Locomotive Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Component
    - 7.3.3.2.2. By Type
    - 7.3.3.2.3. By Technology
    - 7.3.3.2.4. By Operational Engine
    - 7.3.3.2.5. By End Use
- 7.3.4. Italy Locomotive Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Component
    - 7.3.4.2.2. By Type
    - 7.3.4.2.3. By Technology
    - 7.3.4.2.4. By Operational Engine
    - 7.3.4.2.5. By End Use
- 7.3.5. Spain Locomotive Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Component
    - 7.3.5.2.2. By Type
    - 7.3.5.2.3. By Technology
    - 7.3.5.2.4. By Operational Engine
    - 7.3.5.2.5. By End Use

8. Asia Pacific Locomotive Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Component
- 8.2.2. By Type
- 8.2.3. By Technology
- 8.2.4. By Operational Engine
- 8.2.5. By End Use
- 8.2.6. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Locomotive Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Component
    - 8.3.1.2.2. By Type
    - 8.3.1.2.3. By Technology
    - 8.3.1.2.4. By Operational Engine
    - 8.3.1.2.5. By End Use
- 8.3.2. India Locomotive Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Component
    - 8.3.2.2.2. By Type
    - 8.3.2.2.3. By Technology
    - 8.3.2.2.4. By Operational Engine
    - 8.3.2.2.5. By End Use
- 8.3.3. Japan Locomotive Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Component
    - 8.3.3.2.2. By Type
    - 8.3.3.2.3. By Technology
    - 8.3.3.2.4. By Operational Engine
    - 8.3.3.2.5. By End Use
- 8.3.4. South Korea Locomotive Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Component
    - 8.3.4.2.2. By Type
    - 8.3.4.2.3. By Technology
    - 8.3.4.2.4. By Operational Engine
    - 8.3.4.2.5. By End Use
- 8.3.5. Australia Locomotive Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Component
    - 8.3.5.2.2. By Type
    - 8.3.5.2.3. By Technology
    - 8.3.5.2.4. By Operational Engine
    - 8.3.5.2.5. By End Use

9. Middle East & Africa Locomotive Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Component
- 9.2.2. By Type
- 9.2.3. By Technology
- 9.2.4. By Operational Engine
- 9.2.5. By End Use
- 9.2.6. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Locomotive Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Component
    - 9.3.1.2.2. By Type
    - 9.3.1.2.3. By Technology
    - 9.3.1.2.4. By Operational Engine
    - 9.3.1.2.5. By End Use
- 9.3.2. UAE Locomotive Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Component
    - 9.3.2.2.2. By Type
    - 9.3.2.2.3. By Technology
    - 9.3.2.2.4. By Operational Engine
    - 9.3.2.2.5. By End Use
- 9.3.3. South Africa Locomotive Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Component
    - 9.3.3.2.2. By Type
    - 9.3.3.2.3. By Technology
    - 9.3.3.2.4. By Operational Engine
    - 9.3.3.2.5. By End Use

10. South America Locomotive Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Component
- 10.2.2. By Type
- 10.2.3. By Technology
- 10.2.4. By Operational Engine
- 10.2.5. By End Use
- 10.2.6. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Locomotive Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Component
    - 10.3.1.2.2. By Type
    - 10.3.1.2.3. By Technology
    - 10.3.1.2.4. By Operational Engine
    - 10.3.1.2.5. By End Use
- 10.3.2. Colombia Locomotive Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Component
    - 10.3.2.2.2. By Type
    - 10.3.2.2.3. By Technology
    - 10.3.2.2.4. By Operational Engine
    - 10.3.2.2.5. By End Use
- 10.3.3. Argentina Locomotive Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Component
    - 10.3.3.2.2. By Type
    - 10.3.3.2.3. By Technology
    - 10.3.3.2.4. By Operational Engine
    - 10.3.3.2.5. By End Use

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Locomotive Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. CRRC Corporation Limited
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Alstom SA
15.3. Siemens AG
15.4. Wabtec Corporation
15.5. Hitachi Ltd
15.6. Mitsubishi Heavy Industries Ltd
15.7. Bharat Heavy Electricals Limited
15.8. Toshiba Corporation
15.9. Transmashholding
15.10. Bombardier Transportation