Global Hybrid Train Market Report and Forecast 2024-2032

Global Hybrid Train Market Outlook

The global hybrid train market is expected to grow in the forecast period of 2024-2032 at a CAGR of 6.3%.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Passenger Segment Expected to Exhibit a Significant Growth in the Forecast Period

Based on application, the passenger segment is expected to exhibit a significant growth during the forecast period. The hybrid train is a cost-effective and efficient mode of passenger and freight transportation. Several cities are building new rail infrastructure projects to relieve traffic congestion and provide an economical mode of intercity and intra-city transit. Improved urbanisation, as well as a growing need for increased connection, comfort, dependability, and safety, are expected to drive the growth of the market.

Europe to Account for a Significant Share in the Hybrid Train Industry

Geographically, the hybrid train industry in Europe is expected to witness a significant growth during the forecast period owing to the rise in adoption of hybrid train in countries such as France, Spain, Germany, and the UK. Furthermore, as urbanisation and rail infrastructure construction activities increase in European countries, the demand for hybrid trains is expected to grow, thereby propelling the industry forward during the forecast period. The market is expected to grow due to an increase in government initiatives aimed at reducing carbon emissions.

Hybrid Train Market Segmentation

Hybrid train refers to railway cars that use a combination of fuel sources, with electricity being the predominant source. It has a rechargeable energy storage device onboard (RESS). This system is connected to the wheels and sits between the power source and the traction transmission system. Energy is stored in energy storage devices such as batteries, supercapacitors, and flywheels as a result of regenerative braking and excess energy generated during acceleration.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

On the basis of the propulsion, the industry can be segment into:

• Battery Operated
• Electro Diesel
• Hydrogen Powered
• Others

Based on application, the industry can be divided into:

• Passenger
• Freight

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

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Scarcity of Natural Resources and the Rising Cost of Fuel to Bolster the Growth of the Global Hybrid Train Industry

The growing need for environmentally friendly and energy-efficient rail operations is driving the hybrid train industry. The scarcity of natural resources, coupled with the rising cost of fuel, is likely to shift the focus away from diesel trains and towards eco-friendly transportation systems throughout the predicted period, boosting the demand for hybrid trains. Additionally, on the demand side, railway operators, freight companies, and government agencies want trains that are both energy-efficient and environmentally friendly. While the COVID-19 pandemic has adversely affected the hybrid train industry, disrupting the whole ecosystem and halting both manufacturing and sales of new rail cars throughout the world, the demand is expected to recover. Furthermore, the governments in several nations have established rigorous emission standards, forcing manufacturers to use new, less polluting hybrid train technology. Furthermore, constant research and development initiatives in this sector are likely to contribute considerably to the market growth.

Key Industry Players in the Global Hybrid Train Market

The report gives a detailed analysis of the following key players in the global hybrid train market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• CRRC CORPORATION LIMITED
• ALSTOM Holdings
• Siemens Mobility GmbH 
• Hitachi Rail Limited
• Rolls-Royce plc
• Toshiba Infrastructure Systems & Solutions Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Hybrid Train Market Report Snapshots

Hybrid Train Market Size

Hybrid Train Market Share

Hybrid Train Market Growth

Hybrid Train Companies