Global Railway Propulsion System Market Size study & Forecast, by Type (Diesel, Diesel-Electric, Electric), by Application (Locomotive, Metro, Monorail, Trams, Others), by End User (Passenger Transit, Cargo Transit) and Regional Analysis, 2023-2030
Global Railway Propulsion System Market is valued at approximately USD 9.9 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2023-2030. The Railway Propulsion System is a set of technologies and mechanisms responsible for powering and driving trains along railway tracks. It encompasses the various methods used to generate, transmit, and convert energy into the necessary motive force to propel trains efficiently and safely. These propulsion systems often involve intricate engineering solutions, including power distribution, control systems, regenerative braking, and energy management, all of which contribute to the overall efficiency and performance of modern railways. The Railway Propulsion System market is expanding because of factors such as an increase in the allocation of budget for the development of railways, a rise in the use of public transport services, growing focus on urban mobility solutions.
The countries across the globe are constantly increasing their rail budget to adopt the latest technologies and improve their infrastructure, which is driving market growth. For instance, In February of 2023, France unveiled its intention to inject approximately USD 118 billion into rail transport by the year 2040. This blueprint encompasses both the enlargement and enhancement of the rail network, featuring the introduction of high-speed commuter trains for swift travel. Additionally, a global trend toward establishing sustainable and effective transportation systems is apparent. For example, the European Union (EU) disclosed its commitment in June 2023 to allocate USD 6.9 billion for the development of secure, eco-friendly, and proficient transport infrastructure. Through the Connecting Europe Facility (CEF), the European Commission designated 107 transport infrastructure ventures to receive these EU grants. Furthermore, the Indian government earmarked approximately USD 33.3 billion for the advancement of Indian Railways in the year 2023. In addition, the Surge in the adoption of automation, digitization, and connectivity in the railway infrastructure, and increasing advancement in railway propulsion systems are creating new opportunities in the market. However, the high initial investment stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Railway Propulsion System Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the growing railway passenger traffic, supportive government initiatives, growing freight transportation, growing investments for the development of a high-speed rail network, a growing number of rail passengers, rising growing public and private investments in the expansion of the railway network. Europe is expected to grow significantly over the forecast period, owing to factors such as rising investment in railway infrastructure, rising railway industry, and rising technological advancement in the region.
Major market player included in this report are:
Siemens Mobility
Alstom SA
Bombardier Transportation
CRRC Corporation Limited
ABB Group
General Electric (GE) Transportation
Hitachi Rail Limited
Knorr-Bremse AG
Toshiba Infrastructure Systems & Solutions Corporation
Voith Group
Recent Developments in the Market:
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
The countries across the globe are constantly increasing their rail budget to adopt the latest technologies and improve their infrastructure, which is driving market growth. For instance, In February of 2023, France unveiled its intention to inject approximately USD 118 billion into rail transport by the year 2040. This blueprint encompasses both the enlargement and enhancement of the rail network, featuring the introduction of high-speed commuter trains for swift travel. Additionally, a global trend toward establishing sustainable and effective transportation systems is apparent. For example, the European Union (EU) disclosed its commitment in June 2023 to allocate USD 6.9 billion for the development of secure, eco-friendly, and proficient transport infrastructure. Through the Connecting Europe Facility (CEF), the European Commission designated 107 transport infrastructure ventures to receive these EU grants. Furthermore, the Indian government earmarked approximately USD 33.3 billion for the advancement of Indian Railways in the year 2023. In addition, the Surge in the adoption of automation, digitization, and connectivity in the railway infrastructure, and increasing advancement in railway propulsion systems are creating new opportunities in the market. However, the high initial investment stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Railway Propulsion System Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the growing railway passenger traffic, supportive government initiatives, growing freight transportation, growing investments for the development of a high-speed rail network, a growing number of rail passengers, rising growing public and private investments in the expansion of the railway network. Europe is expected to grow significantly over the forecast period, owing to factors such as rising investment in railway infrastructure, rising railway industry, and rising technological advancement in the region.
Major market player included in this report are:
Siemens Mobility
Alstom SA
Bombardier Transportation
CRRC Corporation Limited
ABB Group
General Electric (GE) Transportation
Hitachi Rail Limited
Knorr-Bremse AG
Toshiba Infrastructure Systems & Solutions Corporation
Voith Group
Recent Developments in the Market:
- In January 2023, Siemens Mobility was awarded a substantial contract by Indian Railways to manufacture 1,200 electric locomotives. The total contract worth was approximately USD 3.26 billion and encompasses the complete scope of design, production, commissioning, and testing of these locomotives. The locomotives would feature cutting-edge propulsion systems, and the advanced technology components would be manufactured domestically in Siemens Mobility's Indian factories.
- In July 2022, MTR Nordic AB, a leading rolling stock operator, awarded Alstom a significant contract to provide propulsion systems for their upcoming fleet of 25 Zefiro Express high-speed trains. This marks the first confirmed order for Alstom's propulsion systems, with a substantial value of aroundUSD714 million. The inaugural train is scheduled for delivery in the year 2026.
- Historical Data – 2020 - 2021
- Base Year for Estimation – 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered – Type, Application, End User, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Railway Propulsion System Market, by Region, 2020-2030 (USD Billion)
1.2.2. Railway Propulsion System Market, by Type, 2020-2030 (USD Billion)
1.2.3. Railway Propulsion System Market, by Application, 2020-2030 (USD Billion)
1.2.4. Railway Propulsion System Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
CHAPTER 2. GLOBAL RAILWAY PROPULSION SYSTEM MARKET DEFINITION AND SCOPE
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
CHAPTER 3. GLOBAL RAILWAY PROPULSION SYSTEM MARKET DYNAMICS
3.1. Railway Propulsion System Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increase in the allocation of budget for the development of railways
3.1.1.2. Rise in the use of public transport services
3.1.1.3. Growing focus on urban mobility solutions
3.1.2. Market Challenges
3.1.2.1. High initial investment
3.1.3. Market Opportunities
3.1.3.1. Surge in the adoption of automation, digitization, and connectivity in the railway infrastructure
3.1.3.2. Increasing advancement in railway propulsion system
CHAPTER 4. GLOBAL RAILWAY PROPULSION SYSTEM MARKET INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
CHAPTER 5. GLOBAL RAILWAY PROPULSION SYSTEM MARKET, BY TYPE
5.1. Market Snapshot
5.2. Global Railway Propulsion System Market by Type, Performance - Potential Analysis
5.3. Global Railway Propulsion System Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Railway Propulsion System Market, Sub Segment Analysis
5.4.1. Diesel
5.4.2. Diesel-Electric
5.4.3. Electric
CHAPTER 6. GLOBAL RAILWAY PROPULSION SYSTEM MARKET, BY APPLICATION
6.1. Market Snapshot
6.2. Global Railway Propulsion System Market by Application, Performance - Potential Analysis
6.3. Global Railway Propulsion System Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Railway Propulsion System Market, Sub Segment Analysis
6.4.1. Locomotive
6.4.2. Metro
6.4.3. Monorail
6.4.4. Trams
6.4.5. Others
CHAPTER 7. GLOBAL RAILWAY PROPULSION SYSTEM MARKET, BY END USER
7.1. Market Snapshot
7.2. Global Railway Propulsion System Market by End User, Performance - Potential Analysis
7.3. Global Railway Propulsion System Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
7.4. Railway Propulsion System Market, Sub Segment Analysis
7.4.1. Passenger Transit
7.4.2. Cargo Transit
CHAPTER 8. GLOBAL RAILWAY PROPULSION SYSTEM MARKET, REGIONAL ANALYSIS
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Railway Propulsion System Market, Regional Market Snapshot
8.4. North America Railway Propulsion System Market
8.4.1. U.S. Railway Propulsion System Market
8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
8.4.1.2. Application breakdown estimates & forecasts, 2020-2030
8.4.1.3. End User breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Railway Propulsion System Market
8.5. Europe Railway Propulsion System Market Snapshot
8.5.1. U.K. Railway Propulsion System Market
8.5.2. Germany Railway Propulsion System Market
8.5.3. France Railway Propulsion System Market
8.5.4. Spain Railway Propulsion System Market
8.5.5. Italy Railway Propulsion System Market
8.5.6. Rest of Europe Railway Propulsion System Market
8.6. Asia-Pacific Railway Propulsion System Market Snapshot
8.6.1. China Railway Propulsion System Market
8.6.2. India Railway Propulsion System Market
8.6.3. Japan Railway Propulsion System Market
8.6.4. Australia Railway Propulsion System Market
8.6.5. South Korea Railway Propulsion System Market
8.6.6. Rest of Asia Pacific Railway Propulsion System Market
8.7. Latin America Railway Propulsion System Market Snapshot
8.7.1. Brazil Railway Propulsion System Market
8.7.2. Mexico Railway Propulsion System Market
8.8. Middle East & Africa Railway Propulsion System Market
8.8.1. Saudi Arabia Railway Propulsion System Market
8.8.2. South Africa Railway Propulsion System Market
8.8.3. Rest of Middle East & Africa Railway Propulsion System Market
CHAPTER 9. COMPETITIVE INTELLIGENCE
9.1. Key Company SWOT Analysis
9.1.1. Company
9.1.2. Company
9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Siemens Mobility
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Alstom SA
9.3.3. Bombardier Transportation
9.3.4. CRRC Corporation Limited
9.3.5. ABB Group
9.3.6. General Electric (GE) Transportation
9.3.7. Hitachi Rail Limited
9.3.8. Knorr-Bremse AG
9.3.9. Toshiba Infrastructure Systems & Solutions Corporation
9.3.10. Voith Group
CHAPTER 10. RESEARCH PROCESS
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Railway Propulsion System Market, by Region, 2020-2030 (USD Billion)
1.2.2. Railway Propulsion System Market, by Type, 2020-2030 (USD Billion)
1.2.3. Railway Propulsion System Market, by Application, 2020-2030 (USD Billion)
1.2.4. Railway Propulsion System Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
CHAPTER 2. GLOBAL RAILWAY PROPULSION SYSTEM MARKET DEFINITION AND SCOPE
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
CHAPTER 3. GLOBAL RAILWAY PROPULSION SYSTEM MARKET DYNAMICS
3.1. Railway Propulsion System Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increase in the allocation of budget for the development of railways
3.1.1.2. Rise in the use of public transport services
3.1.1.3. Growing focus on urban mobility solutions
3.1.2. Market Challenges
3.1.2.1. High initial investment
3.1.3. Market Opportunities
3.1.3.1. Surge in the adoption of automation, digitization, and connectivity in the railway infrastructure
3.1.3.2. Increasing advancement in railway propulsion system
CHAPTER 4. GLOBAL RAILWAY PROPULSION SYSTEM MARKET INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
CHAPTER 5. GLOBAL RAILWAY PROPULSION SYSTEM MARKET, BY TYPE
5.1. Market Snapshot
5.2. Global Railway Propulsion System Market by Type, Performance - Potential Analysis
5.3. Global Railway Propulsion System Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Railway Propulsion System Market, Sub Segment Analysis
5.4.1. Diesel
5.4.2. Diesel-Electric
5.4.3. Electric
CHAPTER 6. GLOBAL RAILWAY PROPULSION SYSTEM MARKET, BY APPLICATION
6.1. Market Snapshot
6.2. Global Railway Propulsion System Market by Application, Performance - Potential Analysis
6.3. Global Railway Propulsion System Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Railway Propulsion System Market, Sub Segment Analysis
6.4.1. Locomotive
6.4.2. Metro
6.4.3. Monorail
6.4.4. Trams
6.4.5. Others
CHAPTER 7. GLOBAL RAILWAY PROPULSION SYSTEM MARKET, BY END USER
7.1. Market Snapshot
7.2. Global Railway Propulsion System Market by End User, Performance - Potential Analysis
7.3. Global Railway Propulsion System Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
7.4. Railway Propulsion System Market, Sub Segment Analysis
7.4.1. Passenger Transit
7.4.2. Cargo Transit
CHAPTER 8. GLOBAL RAILWAY PROPULSION SYSTEM MARKET, REGIONAL ANALYSIS
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Railway Propulsion System Market, Regional Market Snapshot
8.4. North America Railway Propulsion System Market
8.4.1. U.S. Railway Propulsion System Market
8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
8.4.1.2. Application breakdown estimates & forecasts, 2020-2030
8.4.1.3. End User breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Railway Propulsion System Market
8.5. Europe Railway Propulsion System Market Snapshot
8.5.1. U.K. Railway Propulsion System Market
8.5.2. Germany Railway Propulsion System Market
8.5.3. France Railway Propulsion System Market
8.5.4. Spain Railway Propulsion System Market
8.5.5. Italy Railway Propulsion System Market
8.5.6. Rest of Europe Railway Propulsion System Market
8.6. Asia-Pacific Railway Propulsion System Market Snapshot
8.6.1. China Railway Propulsion System Market
8.6.2. India Railway Propulsion System Market
8.6.3. Japan Railway Propulsion System Market
8.6.4. Australia Railway Propulsion System Market
8.6.5. South Korea Railway Propulsion System Market
8.6.6. Rest of Asia Pacific Railway Propulsion System Market
8.7. Latin America Railway Propulsion System Market Snapshot
8.7.1. Brazil Railway Propulsion System Market
8.7.2. Mexico Railway Propulsion System Market
8.8. Middle East & Africa Railway Propulsion System Market
8.8.1. Saudi Arabia Railway Propulsion System Market
8.8.2. South Africa Railway Propulsion System Market
8.8.3. Rest of Middle East & Africa Railway Propulsion System Market
CHAPTER 9. COMPETITIVE INTELLIGENCE
9.1. Key Company SWOT Analysis
9.1.1. Company
9.1.2. Company
9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Siemens Mobility
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Alstom SA
9.3.3. Bombardier Transportation
9.3.4. CRRC Corporation Limited
9.3.5. ABB Group
9.3.6. General Electric (GE) Transportation
9.3.7. Hitachi Rail Limited
9.3.8. Knorr-Bremse AG
9.3.9. Toshiba Infrastructure Systems & Solutions Corporation
9.3.10. Voith Group
CHAPTER 10. RESEARCH PROCESS
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption
