Hybrid Train Market Forecast to Exhibit Growth of 11.41% CAGR During 2022-2028 | Increasing Government Investment across Developing Economies in Railway Infrastructure is Driving Growth, Says The Brainy Insights

NEWARK, N.J., March 9, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, the global hybrid train market is expected to grow from USD 33.88 billion in 2020 to USD 78.66 billion by 2028, at a CAGR of 11.41% during the forecast period 2021-2028.

The hybrid train is one of the key solutions for reducing emissions from the railway industry. The hybrid locomotives use a combination of electricity and diesel stored in onboard batteries to power their loads. Due to the longevity, newer and more efficient locomotives will be slowly rolled out within the industry. The batteries can store more energy, and with the significant progress made in increasing the level of energy density in battery technology, the amount of energy stored onboard is expanding. 

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A hybrid train uses an onboard rechargeable energy storage system, which is placed in between the traction transmission systems connected to the wheels and power source (often a diesel engine prime mover). The hybrid train contains large capacity high-performance batteries, the output alone of which can provide a haul load of 1300t for the hybrid train. Excess energy from the power source, or energy derived from regenerative braking, charges the storage system in the hybrid train. The storage system can be a flywheel or electric traction batteries in the hybrid train. The energy source is liquefied petroleum gas, diesel, or hydrogen (for fuel cells) and transmission is electric, direct mechanical, or hydrostatic.

Several government bodies across the globe are taking the initiative and investing in the development of hybrid trains, boosting the growth of the hybrid train market around the world. Increasing demand for hybrid train freight transport is anticipated to offer further growth opportunism. However, high costs involved in initial investment, overhaul, and maintenance could hamper the growth of this market over the forecast period. 

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Major players in the global hybrid train market are Alstom, Bombardier Inc., CRRC, Kawasaki, Siemens, General Electric, Hyundai Rotem, Hitachi Ltd., Construcciones Y Auxiliar De Ferrocarriles (CAF), and Cummins among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global hybrid train industry.

• In April 2018, Siemens announced the launch of a new Vectron Dual Mode locomotive, which can be operated both as diesel and an electric locomotive.
• In September 2018, Alstom, Nahverkehrsservice Sachsen-Anhalt GmbH (NASA), and Rolls-Royce announced the plan to jointly implement a new hybrid drive solution on Abellio's fleet of Coradia Lint diesel trains.
• In September 2018, GE Transportation announced that its diesel-electric locomotives had been approved for operation by Indian Railways, a part of a USD 2.5 billion agreement supporting the government's 'Make in India' program.

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The electro diesel segment held the major market share and was valued at USD 13.50 billion in the year 2020.

The propulsion segment is divided into battery-operated, CNG, electro-diesel, LNG, hydrogen, and solar-powered. The electro diesel segment held the major market share. It was valued at USD 13.50 billion in 2020, owing to the increasing adoption of electro-diesel propulsion type for hybrid trains. Most governments across the globe are inclined towards the electro diesel propulsion system. In addition to this, it helps reduce air pollution, further boosting the growth of the electro diesel segment. 

The 100-200 KM/H accounted for the major market share of 57.96% in the year 2020.

The operating speed type segment includes below 100 KM/H, 100-200 KM/H, above 200 KM/H. The 100-200 KM/H accounted for the major market share of 57.96% in the year 2020. The hybrid train normally operates on standard gauge tracks with a 100-200 KM/H operating speed.

The passenger segment accounted for the largest market share and was valued at USD 19.07 billion in 2020.

The application segment includes freight and passenger. The passenger segment accounted for the largest market share and was valued at USD 19.07 billion in 2020. Globally, the population has been increased rapidly, and thus the need for public transportation has been increased in various countries. In addition to this, increasing urbanization and smart city projects across the globe are further driving the demand for hybrid trains for passenger transportation. 

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Regional Segment Analysis of the Hybrid Train Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

The European region emerged as the largest hybrid train market and was valued at USD 16.58 billion in 2020. This value was because European countries have been rapidly developing and launching hybrid trains for the past few years. Germany, one of the global technology leaders, has the highest market share in Europe. The Asia Pacific region is anticipated to grow at the highest CAGR of 12.01% over the forecast period. This is mainly due to the rising demand for energy-efficient transportation systems and several initiatives taken by government bodies and several private organizations in various countries. The hybrid train market in Japan is highly developed. In addition to this, emerging countries such as China and India are rapidly expanding their train network to improve the transport systems in the country and make them more eco-friendly.

About the report: 

The global hybrid train market is analyzed based on value (USD billion), volume (Units), export (Units), and import (Units). All the segments have been analyzed on a global, regional, and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis. 

About The Brainy Insights:

The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements, whether they are looking to expand or plan to launch a new product in the global market.

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