(I-BusinessNews.Com, May 21, 2019 ) According to the market research report Locomotive Market by Power Conversion Components (Rectifier, Inverter, Alternator, APU & Traction Motor), Technology (IGBT, GTO & SiC), Rolling Stock Type (Diesel & Electric Locomotive, DMU & EMU), and Region – Global Trends and Forecast to 2021. With 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.
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With the extension of rail network across the globe there has been substantial increase in the production of locomotives to meet the rising demand for public transport. This has eventually resulted in the demand for power conversion systems across the globe. Hence, 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.
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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
Browse and in-depth TOC on Locomotive Market
73 – Tables
52 – Figures
154 – Pages
In this report, the locomotive market for power conversion systems is broadly segmented based on power conversion components into power converters (rectifier and inverter), traction motors, alternators and auxiliary power conversion units. The traction motors segment accounted for the largest market size in the locomotive market for power conversion systems, as this component assists in improving the efficiency by reducing losses, which can be categorized into iron losses, copper losses, mechanical losses, and harmonic losses.
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Locomotive Market Key Players
The locomotive market for power conversion systems is dominated by a few global players such as Hitachi Ltd. (Japan), CRRC Corporation Limited (China), Bombardier Inc. (Canada), Alstom S.A. (France) and ABB (Switzerland). For instance, Hitachi Ltd. has strong product offering and they have invested heavily in R&D to retain their market position.
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