A railway propulsion system comprises components and technologies used to generate and deliver power for the propulsion of a train. Power generated by fuel, electricity, or any other source must be converted into a usable form. There are components such as generators, converters, transformers, or inverters to offer specific voltage, frequency, or current to cater to the requirement of railways. Alternating current (AC) and direct current (DC) motors are the types of motors commonly used in modern railway propulsion systems. In addition, technological advancements have resulted in the creation of advanced semiconductor devices such as insulated gate bipolar transistors (IGBTs) and thyristors. The development of reliable AC induction motors and the electrification of locomotives and railroads have also gained popularity.
There is a greater emphasis on the development and expansion of urban rail networks owing to the increase in urbanization and population growth in various cities across the globe. This has led to increased demand for railway propulsion systems to power new metro and light rail lines. Moreover, the high-speed railway network is experiencing significant growth. For instance, according to Krzysztof Maminski, the UIC Chairman, the high-speed railway network is developing very dynamically. Over the span of just two years, from 2020 to 2022, the total length of high-speed rail tracks has surged from 44,000 km to approximately 59,000 km, representing an impressive increase of over one-third. Therefore, the expansion of high-speed rail across the globe drives the need for advanced propulsion systems capable of high speeds and efficient energy consumption. Moreover, the global trend of transitioning railways from diesel-powered to electric-powered systems has been driven by the aim to reduce emissions and enhance energy efficiency. Therefore, there is increased demand for electric propulsion systems in the railway industry.
The railway propulsion system market is segmented on the basis of type, application, end user, and region. By type, it is categorized into diesel, diesel-electric, and electric locomotive. By application, the market is classified into locomotive, metro, monorail, trams, and others. By end user, it is bifurcated into passenger transit, and cargo transit. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading companies profiled in the report include CRRC Corporation Limited, Hitachi, Ltd., Mitsubishi Corporation, Siemens, Toshiba Corporation, Alstom, Medcom, Titagarh Rail Systems Limited, ABB, and Fuji Electric Co., Ltd.
There is a greater emphasis on the development and expansion of urban rail networks owing to the increase in urbanization and population growth in various cities across the globe. This has led to increased demand for railway propulsion systems to power new metro and light rail lines. Moreover, the high-speed railway network is experiencing significant growth. For instance, according to Krzysztof Maminski, the UIC Chairman, the high-speed railway network is developing very dynamically. Over the span of just two years, from 2020 to 2022, the total length of high-speed rail tracks has surged from 44,000 km to approximately 59,000 km, representing an impressive increase of over one-third. Therefore, the expansion of high-speed rail across the globe drives the need for advanced propulsion systems capable of high speeds and efficient energy consumption. Moreover, the global trend of transitioning railways from diesel-powered to electric-powered systems has been driven by the aim to reduce emissions and enhance energy efficiency. Therefore, there is increased demand for electric propulsion systems in the railway industry.
The railway propulsion system market is segmented on the basis of type, application, end user, and region. By type, it is categorized into diesel, diesel-electric, and electric locomotive. By application, the market is classified into locomotive, metro, monorail, trams, and others. By end user, it is bifurcated into passenger transit, and cargo transit. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading companies profiled in the report include CRRC Corporation Limited, Hitachi, Ltd., Mitsubishi Corporation, Siemens, Toshiba Corporation, Alstom, Medcom, Titagarh Rail Systems Limited, ABB, and Fuji Electric Co., Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the railway propulsion system market analysis from 2022 to 2032 to identify the prevailing railway propulsion system market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the railway propulsion system market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global railway propulsion system market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Diesel
- Diesel-Electric
- Electric
By Application
- Locomotive
- Metro
- Monorail
- Trams
- Others
By End User
- Passenger Transit
- Cargo Transit
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Spain
- Italy
- France
- Russia
- UK
- Netherlands
- Norway
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Philippines
- Indonesia
- Viet Nam
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Toshiba Corporation
- Mitsubishi Corporation
- ABB
- Hitachi, Ltd.
- Siemens
- CRRC Corporation Limited
- Alstom
- Medcom
- Titagarh Rail Systems Limited
- Fuji Electric Co., Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: RAILWAY PROPULSION SYSTEM MARKET, BY TYPE
CHAPTER 5: RAILWAY PROPULSION SYSTEM MARKET, BY APPLICATION
CHAPTER 6: RAILWAY PROPULSION SYSTEM MARKET, BY END USER
CHAPTER 7: RAILWAY PROPULSION SYSTEM MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
The railway propulsion system is expected to experience a significant growth rate of 4.5% from 2023-2032 owing to the growing use of public transport services as a solution to minimize traffic congestion.A railway propulsion system is a system that is utilized to power and propel the railway on the tracks. The railway propulsion system can be broadly classified on the basis of sources of energy such as steam, diesel fuel, electricity, and other multiple energy sources in combination. Historical locomotives were operated by steam traction. Modern railways use diesel, diesel-electric/hybrid, electric, and other types of propulsion systems for their operation. Current propulsion systems of trains use diesel, electricity and, in the near future, LNG and hydrogen. The propulsion system includes traction and control, auxiliary converter unit, battery box unit, brake chopper resistor, traction motor, and other components.
Factors such as increase in the allocation of budget for the development of railways, rise in the use of public transport services as a solution to minimize traffic congestion, and surge in the demand for sustainable railway propulsion systems such as electric and hybrid propulsion systems drive the growth of the railway propulsion system market. However, high initial investment costs, and lack of technology infrastructure and consistency in developing countries hinder the growth of the market. Furthermore, the rise in the adoption of automation, digitization, and connectivity, and technological advancements offer remarkable growth opportunities for the players operating in the railway propulsion system market.
Moreover, the freight rail network in the U. S. is widely considered one of the largest, safest, and most cost-efficient freight systems across the globe. There is a surge in the development and delivery of freight trains owing to the rise in demand for safe and reliable freight-rail transportation. For instance, in June 2023, Wabtec, a rail manufacturing company received a record order from Genesee & Wyoming (G&W) subsidiaries ordered for 69 locomotives, consisting of 35 Dash 9 and 34 Dash 8 trains. Such developments create opportunities for propulsion system manufacturers to supply engines and related components for these locomotives.
An increase in investments by service providers for the advancement and upgradation of existing fleets is one of the key factors fueling the market growth in the region. For instance, in July 2021, the U. S. national passenger railroad service provider Amtrak, awarded a $7.3 billion contract to Siemens Mobility to manufacture a new fleet of up to 83 multi-powered modern trains, including dual power & hybrid battery trains that will be leveraged for state and northeast services, with further options for up to 130 additional trains to support Amtrak growth plans.
The railway propulsion system market is segmented on the basis of type, application, end user, and region. By type, it is categorized into diesel, diesel-electric, and electric locomotive. By application, it is fragmented into locomotive, metro, monorail, trams, and others. By end user, it is bifurcated into passenger transit, and cargo transit. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Metro is high-capacity public transportation, which is most common in urban areas. Metros are electronically operated and have exclusive tracks to which pedestrians or other vehicles have no access. Daily commuters use the metro to travel short or long distances within the city. The rise in government initiatives and programs to develop smart cities and the expansion of railway networks to reduce passenger commute times are expected to drive the production of metros. For instance, in September 2021, Alstom, a railroad company announced the delivery of the first indigenously built trainset to Uttar Pradesh Metro Rail Corporation (UPMRC) for the Kanpur Metro in India. The trains are expected to be equipped with Flexx metro bogies and MITRAC propulsion systems to increase energy efficiency, decrease operating costs, and ensure the new trains fulfill the highest environmental standards. Such developments to integrate metros with a propulsion system to reduce energy consumption and lower emissions are expected to drive the growth of the metro segment in the market.
The leading companies profiled in the report include CRRC Corporation Limited, Hitachi, Ltd., Mitsubishi Corporation, Siemens, Toshiba Corporation, Alstom, Medcom, Titagarh Rail Systems Limited, ABB, and Fuji Electric Co., Ltd.
Key Market Insights
By type, the electric segment was the highest revenue contributor to the market and is estimated to dominate the market during the forecast period.By application, the locomotive segment was the highest revenue contributor to the market in 2022 and is estimated to capture the highest revenue during the forecast period.
By end-user, the cargo transit segment dominated the global market in 2022, and distributed area network is estimated to capture the highest market share during the forecast period.
By region, Europe was the highest revenue contributor, accounting for the largest market share in 2022, and is estimated to grow with a significant CAGR during the forecast period.
Companies Mentioned
- Toshiba Corporation
- Mitsubishi Corporation
- ABB
- Hitachi, Ltd.
- Siemens
- CRRC Corporation Limited
- Alstom
- Medcom
- Titagarh Rail Systems Limited
- Fuji Electric Co., Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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