Global Hybrid Train Market to Grow at a CAGR of 6.3% During 2024-2032, Driven by the Increasing Demand for Eco-Friendly and Energy-Efficient Rail Operations

The market for hybrid train is being driven by the increasing demand for eco-friendly and energy-efficient rail operations. Railway operators and freight companies are adopting trains that are both efficient and environmentally friendly. Hybrid trains have piqued the interest of freight companies looking to reduce operating costs by eliminating fuel and maintenance costs. In the freight industry, the total cost of ownership (TCO) significantly impacts profit margins. When travelling long distances with conventional diesel trains, fuel costs are high. The use of electrified, fuel cell, CNG, or LNG hybrid trains, on the other hand, reduces these costs by nearly half. Increasing the modal share of railways is thought to be a cost-effective way to increase the use of renewable energy in transportation, and, thus, lower greenhouse gas (GHG) emissions. Therefore, the hybrid train industry is expected to grow as a result of these factors. Furthermore, governments in various countries have imposed strict emission standards, forcing manufacturers to adopt new, less polluting hybrid train technology.

In September 2021, Roy Hill, an iron ore mining, rail, and port operation in Western Australia, announced the purchase of Wabtec’s (NYSE: WAB) FLXdrive battery-electric locomotive, the world’s first 100% battery-powered locomotive built in Erie. Under the agreement, Roy Hill will receive the latest version of the FLXdrive battery-electric locomotive in 2023, which is expected to have a 7 megawatt hours (MWh) of energy capacity. The locomotive is intended to be used in conjunction with one or more diesel locomotives to form a hybrid train. Such developments are expected to positively aid the market in the coming years.

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Market Analysis by Propulsion, Application, and Region:

• The market on the basis of propulsion can be divided into battery operated, electro diesel, and hydrogen powered, among others.

• On the basis of application, the industry can be bifurcated into passenger and freight. 

• The regional markets for hybrid train include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for hybrid train is being driven by the increasing demand for eco-friendly and energy-efficient rail operations.

• The industry is receiving a further impetus with the continuous research and development activities carried out by the leading manufacturers.

• The scarcity of natural resources and the growing fuel cost are likely to shift the focus away from diesel trains to environmentally friendly transportation systems, boosting the demand for hybrid trains.

• The rapid urbanisation and rail infrastructure construction activities have significantly contributed to the market expansion.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for hybrid train for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the propulsion, applications, and regions of hybrid train. 

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global hybrid train market are CRRC CORPORATION LIMITED, ALSTOM Holdings, Siemens Mobility GmbH, Hitachi Rail Limited, Rolls-Royce plc, and Toshiba Infrastructure Systems & Solutions Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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