Electric Locomotive Engines Market Projected to Expand at a CAGR of 8.8% from 2022 to 2030, According to Contrive Datum Insights
According to a market research study published by Contrive Datum Insights, North America use technology and automation, the region is the global market leader, European emission standards impose stringent restrictions on the usage of diesel locomotive engines
Farmington, Jan. 30, 2023 (GLOBE NEWSWIRE) -- *The Global **Electric Locomotive Engines Market** is expected to grow at a CAGR of 8.8% from 2023 to 2030**. *An electric locomotive engine is an electric motor that propels a train. Since the middle of the 20th century, electric locomotive engines have undergone significant transformations. Diesel locomotive engines have a poorer power-to-weight ratio than their electric counterparts. Additionally, electric locomotives can travel more quickly and haul more weight up steep gradients.
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Electric engines are replacing traditional engines such as diesel engines because people throughout the world are increasingly worried about pollution and desire systems that consume less energy and do not pollute. The Environmental Protection Agency (EPA) of the United States has mandated that diesel engines release less nitrogen oxide. Consequently, the need for electric locomotive engines is increasing.
*Electric Locomotive Engines Market **Recent Developments:*
· *In April 2021,* Alstom, India’s biggest multinational sustainable mobility provider with a comprehensive portfolio of offerings, has successfully manufactured and delivered the 100th electric locomotive to Indian Railways.
· *In November 2015,* GE said it would spend $200 million to build and sell 1,000 diesel locomotives to Indian Railways. The Ministry of Railways gave the company a Letter of Award for a contract to supply and maintain locomotives.
· *In August 2008,* Bombardier Transportation announced that it had signed two contracts to give the New Jersey Transit Corporation (NJ TRANSIT) and the Agence Metropolitaine de Transport (AMT) in Montreal a total of 46 dual-powered passenger locomotives.
*Electric Locomotive Engines Market **Segmentation Analysis:*
The market for electric locomotive engines can be segmented based on how power is delivered, the level of automation, the kind of power, the components, and the distribution channels. The market can be divided into three categories based on the method of energy delivery. The most prevalent method of powering an electric locomotive engine is via an overhead power line.
The market for electric locomotive engines can be divided into two categories based on the type of energy they utilise. DC motors have a high starting torque, which allows them to travel quicker initially regardless of the load. AC power is compatible with DC motors. Therefore, DC-powered electric locomotive engines dominate the market.
Geographically, the market for electric locomotive engines may be divided into five primary regions. Because more people in North America use technology and automation, the region is the global market leader. The Chinese market is expanding rapidly. China is anticipated to be the leader in the market for electric locomotive engines due to its cheaper supplies and government support.
As the transportation business expands, so does the volume of global freight that must be transported. In consequence, this has a significant impact on the market for electric locomotive engines. Environmental agencies have made it difficult for diesel locomotive engines to achieve Tier II, Tier III, and Tier IV criteria. This increases the likelihood that North Americans will utilise electric locomotive engines.
European emission standards impose stringent restrictions on the usage of diesel locomotive engines. This is anticipated to propel the market for electric locomotive engines in the coming years. The expansion of the railway industry in the Asia-Pacific area is anticipated to drive demand for electric locomotive engines in the future years.
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*Scope of Report:*
*Report Attributes* *Details*
*Growth Rate* *8.8%* from 2023 to 2030
*By Energy Transfer* · Overhead lines
· Third rail
· On-board energy storage
*By **Traction Units* · Ac traction units
· Dc traction units
· Multi system units
*By Applications* · Passenger transport
· Freight transport
*By Companies* ALSTOM, CRRC, General Electric, Siemens, CAF, Talgo, Bombardier, Bharat Heavy Electricals Limited, and Others
*Base Year* 2022
*Historical Year* 2017 to 2021
*Forecast Year* 2023 to 2030
Increasing demand for technologies that reduce locomotive emissions, which are a major source of air pollution, is one of the primary factors driving the global electric locomotive engine market. During the projection period, stringent emission regulations, such as Tier II pollution limits for diesel locomotive engines, are anticipated to increase demand for electric locomotive engines.
Growing railway connectivity and increased government spending to improve public transportation are likely to enhance the demand for locomotives, hence driving the demand for electric locomotive engines throughout the forecast period.
*Electric Locomotive Engines Market Key Segments Covered:*
*Top Market Players:
*ALSTOM, CRRC, General Electric, Siemens, CAF, Talgo, Bombardier, Bharat Heavy Electricals Limited, and Others.
*By Energy Transfer *
· Overhead lines
· Third rail
· On-board energy storage
*By Traction Units *
· Ac traction units
· Dc traction units
· Multi system units
*By Application *
· Passenger transport
· Freight transport
*Regions and Countries Covered*
· *North America: *(US, Canada, Mexico, Rest of North America)
· *Europe: *(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
· *Asia-Pacific: *(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
· *The Middle East & Africa: *(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
· *Latin America: *(Brazil, Argentina, Rest of Latin America)
· *Rest Of the World*
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