Hybrid Train Global Market Report 2024

The global hybrid train market 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 global hybrid train market 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, Škoda Transportation AS, Newag S.A., PESA Bydgoszcz S.A., Stäubli 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 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.

This report 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 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.


This product will be delivered within 3-5 business days.