Hybrid Train Market to Reach $23.9 Bn, Globally, by 2027 at 6.6% CAGR: Allied Market Research

PORTLAND, Ore., Jan. 19, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Hybrid Train Market by Propulsion Type (Electro-Diesel, Battery Operated, Hydrogen Powered, Gas Powered, and Solar Powered), Application (Passenger and Freight), and Operating Speed (Less than 100 km/hr, 100-200 km/hr, and More than 200 km/hr): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global hybrid train industry generated $16.2 billion in 2019, and is expected to generate $23.9 billion by 2027, witnessing a CAGR of 6.6% from 2020 to 2027.

Drivers, restraints, and opportunities

Advantages associated with hybrid trains over conventional trains along with increase in awareness and stringent government regulations regarding environmental pollution drive the growth of the global hybrid train market. However, surge in cost regarding development of hybrid trains and their infrastructure hinders the market growth. On the other hand, supportive government initiatives and investments towards alternative fuel-powered hybrid trains present new opportunities in the coming years.

Download Report Sample (250  Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/7515

Covid-19 Scenario

• With lockdown imposed in many countries, the ban on the import & export and transportation activities disrupted the supply chain and consequently hampered manufacturing activities.
• Many governments banned train travel for citizens to curb the spread of coronavirus. So, the implementation of hybrid trains lowered down during the lockdown.
• Many organizations held the investments back due to economic uncertainty that occurred during the pandemic. The investments would be made post-pandemic as the industry recovers.

The electro-diesel segment to maintain its lead position throughout the forecast period

Based on propulsion type, the electro-diesel segment accounted for the largest market share, contributing to nearly half of the global hybrid train market in 2019, and will maintain its lead position throughout the forecast period. This is attributed to increase in demand for electro-diesel trains from the joint electrified and non-electrified trains of the railway industry worldwide as they offer benefits such as reliability, sustainability, and reduced emissions. However, the battery operated segment is projected to witness the highest CAGR of 6.9% from 2020 to 2027, owing to increase in implementation in passenger and freight applications along with adoption of the electrified trains for sustainable, efficient, and reliable rail transportation.

Get detailed COVID-19 impact analysis on the Hybrid Train Market: https://www.alliedmarketresearch.com/request-for-customization/7515?reqfor=covid

The passenger segment to maintain its dominant share during the forecast period

Based on application, the passenger segment accounted for the largest market share in 2019, holding nearly 90% of the global hybrid train market, and is expected to maintain its dominant share during the forecast period. Moreover, this segment is estimated to witness the largest CAGR of 6.6% from 2020 to 2027. This is attributed to need to reduce the traffic & pollution from road transport and increase in demand for traveling safely and reliably. The research also analyzes the freight segment.

Europe to lead in terms of revenue, North America to grow steadily

Based on region, Europe contributed to the highest market share in 2019, accounting for nearly two-fifths of the global hybrid train market, and will maintain its leadership position in terms of revenue by 2027. This is attributed to increase in adoption of hybrid trains from countries such as Germany, Spain, France, and the UK along with rise in urbanization and rail infrastructure construction activities. However, Asia-Pacific is expected to grow at the fastest CAGR of 6.8% during the forecast period, owing to large number of major players and availability of the manufacturing facilities in the region. North America is expected to grow steadily at a CAGR of 6.5% during the forecast period. 

Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/hybrid-trains-market/purchase-options

Leading market players

• Alstom SA
• Ballard Power Systems, Inc.
• Bombardier, Inc.
• China Railway Rolling Stock Corporation (CRRC)
• Hyundai Rotem Company
• Kawasaki Heavy Industries, Ltd.
• Siemens AG
• Stadler Rail AG
• Toshiba Corporation
• Wabtec Corporation

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports We Have: 

Tunnel Boring Machine Market - Global tunnel boring machine market is expected to reach $7,552.1 million by 2027, growing at a CAGR of 6.0% from 2020 to 2027.

Barrier Systems Market - Global barrier systems market is projected to reach $25,411.8 million by 2027, registering a CAGR of 3.7% from 2020 to 2027.

Hydraulic Tools Market - Global hydraulic tools market projected to reach $2,347.0 million by 2026, growing at a CAGR of 5.9% from 2019 to 2026.

Friction Products and Materials Market - Global friction products and materials market is projected to reach $24,533 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025.

Bridge Construction Market - Global bridge construction market is projected to reach $1,212.6 billion by 2027, registering a CAGR of 4.6% from 2020 to 2027.  

Pre-Book Now with 10% Discount:

Railway Maintenance Machinery Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Railway Couplers Market - Global Opportunity Analysis and Industry Forecast, 2020–2027

Railway Air Conditioning System Market - Global Opportunity Analysis and Industry Forecast, 2020-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com 
Follow us on: LinkedIn Twitter

SOURCE Allied Market Research