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  • Locomotive Market by Size, Share, Industry Forecast Report - 2021




    (Transportation-News.com, August 09, 2019 ) "Locomotive Market by Power Conversion Components (Rectifier, Inverter, Alternator, APU & Traction Motor), Technology (IGBT module, GTO Thyristor Module & SiC Module), Rolling Stock Type, and by Region - Global Trends and Forecast to 2021", The locomotive market for power conversion systems is projected to grow at a CAGR of 2.92% during the forecast period, to reach a market size of USD 4.27 Billion by 2021.

    The locomotive market for power conversion systems is primarily driven by for expansion of rail network infrastructure, increasing urbanization and environmental sustainability. With the growth in urbanization and industrialization, there is going to be a substantial increase in the demand for power and related conversion systems during the forecast period.

    Demand Side Analysis-

    1 Infrastructure: Rail Network
    2 High-Speed Rail Links Between Major Countries

    The locomotive market for power conversion system ecosystem consists of traction motor manufacturers such as Hitachi Ltd (Japan), CRRC Corporation Limited (China) and, AEG Power Solutions (Germany) amongst others; Auxiliary power unit manufacturers such as Turbo Power Systems (U.K.), Alstom S.A (France) and Toshiba Corporation (Japan) among others and converter manufacturers like Strukton (The Netherlands) and Siemens AG (Germany) amongst others. These OEMs integrate these components and sell them to end-users to cater to their requirements.

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    IGBT module market is anticipated to lead the market by technology

    With the advancement in technology from a GTO thyristor module to the IGBT module, there is a significant reduction in energy consumption that leads to a reduction in life-cycle costs of the locomotive. Additionally, the pressure of locomotive operators to maintain and enhance the railways image as the most environmentally friendly mode of transport has forced them to develop technologies such as IGBT module and SiC inverter. Thus, with an increase in the need for energy-efficient solutions, weight reduction, and power loss reduction while changing the state of current from Ac to DC there has been an increase in the demand for transmission based modules.

    Traction Motor is the largest segment in power conversion components in locomotive

    The traction motor is projected to dominate the locomotive market for power conversion systems during the forecast period, in terms of value. The high demand for traction motors can be attributed to the benefits offered by this component, as it helps in improving the efficiency by reducing losses, which can be categorized into iron losses, copper losses, mechanical losses, and harmonic losses. Thus, advancements in traction motor technology are helping manufacturers overcome challenges related to weight and energy efficiency, and thus leading to an increase in the demand for the same.

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    Asia-Pacific: The largest and fastest-growing market for rolling stock power conversion system

    The Asia-Pacific region includes key countries such as China, Japan, and India. The locomotive market for power conversion system in the region is expected to grow at a promising CAGR, owing to the increasing number of rail infrastructural projects and growing urbanization. According to the Ministry of Railways (India), the ministry has planned to spend approximately USD 142 Billion in the next five years on expansion and modernization. Robust economic growth, coupled with the growing urban population leads to an increase in demand for power and conversion systems during the forecast period.

    Target Audience:

    *Manufacturers of rolling stock
    *Manufacturers of rolling stock power conversion components
    *Raw material suppliers for rolling stock or their power conversion components
    *Transport authorities
    *Legal and regulatory authorities
    *Fleet operators

    MarketsandMarkets

    Mr. Shelly Singh

    1-888-600-6441

    newsletter@marketsandmarkets.com

    Source: EmailWire.Com

    Source: EmailWire.com

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