Rolling stock power conversion system market is expected to register a significant growth during the forecast period due to increased demand for better and efficient power conversion system for rolling stock. In addition, the government regulations for the installation of the same fuel the growth of the rolling stock power conversion system market across the globe.
The global rolling stock power conversion system market is segmented on the basis of technology, components, rolling stock type, and region. Based on technology, the market is categorized into insulated gate bipolar transistor (IGBT), gate turn-off thyristor (GTO), and silicon carbide (SiC). On the basis of components, it is categorized into rectifier, inverter, alternator, auxiliary power unit (APU), and traction motor. By rolling stock type, the market is categorized into locomotives, metros, monorails, trams, freight wagons, passenger coaches, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the rolling stock power conversion system market include AEG Power Solutions, Alstom SA, Bombardier Inc., CRRC Corporation Ltd., Hitachi Ltd., Siemens AG, Strukton, Toshiba Corporation, Turbo Power Systems, and Wabtec Corporation.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents analytical depiction of the global rolling stock power conversion system market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Technology
- Insulated Gate Bipolar Transistor (IGBT)
- Gate Turn-Off Thyristor (GTO)
- Silicon Carbide (SiC)
By Components
- Rectifier
- Inverter
- Alternator
- Auxiliary Power Unit (APU)
- Traction Motor
By Rolling Stock Type
- Locomotives
- Metros
- Monorails
- Trams
- Freight Wagons
- Passenger Coaches
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- AEG Power Solutions
- Alstom SA
- Bombardier Inc.
- CRRC Corporation Ltd.
- Hitachi Ltd.
- Siemens AG
- Strukton
- Toshiba Corporation
- Turbo Power Systems
- Wabtec Corporation
Table of Contents
Executive Summary
According to the report titled, 'Rolling Stock Power Conversion System Market by Technology, Components, and Rolling Stock Type: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global rolling stock power conversion system market was valued at $3.92 billion in 2018 and is projected to reach $5.15 billion by 2026, registering a CAGR of 3.6%.
Asia-Pacific dominates the market in terms of growth, followed by North America, Europe, and LAMEA. China dominated the global rolling stock power conversion system market share in 2018, whereas Japan is expected to grow at a significant rate in the rolling stock power conversion system market during the forecast period.
Rolling stock power conversion system is used to convert electrical energy from AC to DC as well as is responsible to change the voltage and frequency of the electrical energy flowing. It is a form of electro-mechanical device that is responsible to convert the electric energy from one form to another; thereby, leading to the propulsion of the rolling stock. Numerous power conversion technologies such as insulated gate bipolar transistor (IGBT), gate turn-off thyristor (GTO), and others have been introduced by different manufacturers which have a wider application in power conversion system; thereby, supplementing the growth of the market.
Continuous upgradation in the railway industry has led to the installation of a better and efficient power conversion system, which fuels the growth of the market. Numerous developments such as the introduction of an insulated gate bipolar transistor (IGBT), gate turn-off thyristor (GTO), and silicon carbide (SiC) have been made by different companies for the application in rolling stock power conversion system. These developments carried out by companies boost the growth of the rolling stock power conversion system industry.
The factors such as increased budget allocation for the development of railways and a rise in trend toward using railways as a means of public transport means to drive the growth of the market. However, the high capital requirements to replace the existing system and refurbishment of existing rolling stock hamper the growth of the market. Furthermore, improvement in railway infrastructure in developing countries is expected to create numerous opportunities for the growth and expansion of the rolling stock power conversion system market.
According to Abhay Singh, Lead Analyst, Automotive and Transportation, “Based on technology, the gate turn-off thyristor (GTO)segment dominated the global rolling stock power conversion system market in 2018, in terms of revenue and is expected to lead the market throughout the forecast period. Based on the component, the traction motor segment incurs the higher application of a rolling stock power conversion system. In addition, based on rolling stock type, the metro segment is expected to grow at a faster rate during the forecast period. At present, Europe is the highest revenue contributor and is expected to garner the highest revenue in the global market during the forecast period, followed by Asia-Pacific, North America, and LAMEA.”
KEY FINDINGS OF THE STUDY
- Based on technology, the gate turn-off thyristor (GTO) segment for rolling stock power conversion system generated the highest revenue in 2018.
- Based on the component, the traction motor segment was the highest revenue contributor in 2018.
- Based on region, Europe contributed the highest market revenue in 2018, followed by Asia-Pacific, North America, and LAMEA.
- Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
The key players analyzed in this report Power Solutions, Alstom SA, Bombardier Inc., CRRC Corporation Ltd., Hitachi Ltd., Siemens AG, Strukton, Toshiba Corporation, Turbo Power Systems, and Wabtec Corporation.
Companies Mentioned
- are AEG Power Solutions
- Alstom SA
- Bombardier Inc.
- CRRC Corporation Ltd.
- Hitachi Ltd.
- Siemens AG
- Strukton
- Toshiba Corporation
- Turbo Power Systems
- Wabtec Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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