Global Electric Locomotives Market 2024 - Opportunity Analysis, Industry Trends, Business Segmentation And Forecast To 2033

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Electric Locomotives Global Market Report 2024
Global Forecast 2024 2033 Market Size, Drivers,
And Trends
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Electric Locomotives Market Segments
The Business Research Company segments the
electric locomotives market report as
By Energy Transfer
Overhead Lines, Third Rail, On-Board Energy
Storage
IGBT Module, GTO Thyristor, SiC Module
By Technology
AC Traction Units, DC Traction Units, Multi
System Units
By Traction Units
Passenger Transport, Freight Transport
By Application
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Market Statistics
The global Electric Locomotives market size grew
from 8.29 billion in 2023 to 9.39 billion in
2024 at a compound annual growth rate (CAGR) of
13.2.The Electric Locomotives market size is
expected to grow to 14.8 billion in 2028 at a
compound annual growth rate (CAGR) of 12.1.
14.8 B
9.39 B
8.29 B
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Key Market Drivers And Trends
Drivers
The increased demand for railway passenger
transport is expected to propel the growth of
electric locomotives market.
Trends
Major companies operating in the electric
locomotives market are innovating new products
such as the ES44ACi diesel-electric locomotive to
increase their profitability in the market.
Region
Western Europe was the largest region in the
Electric Locomotives market in 2023. The regions
covered in the Electric Locomotives market
analysis report are Asia-Pacific, Western Europe,
Eastern Europe, North America, South America,
Middle East and Africa.
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Top Eleven Players In The Market

• Major players in the market are
• CRRC Corporation Limited
• Hitachi Ltd.
• Kawasaki Heavy Industries
• Siemens AG
• Stadler Rail AG
• Wabtec Corporation

• Bharat Heavy Electricals Limited
• Toshiba Corporation
• Alstom S. A
• Hyundai Rotem
• Banaras Locomotive Works

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