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Hybrid Train Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 149 Pages
  • September 2023
  • Region: Global
  • IMARC Group
  • ID: 5633102

Quick Summary:

In the rapidly advancing transportation industry, the global hybrid train market holds significant potential. The rising awareness about sustainability and increased focus on the reduction of harmful emissions has propelled the demand for hybrid trains. These locomotives, boasting an on-board rechargeable energy storage system (RESS) in tandem with other fuels like diesel, offer a superior alternative to traditional fuel trains. Hybrid trains are more reliable, cause little to no emissions, operate quietly, demonstrate cost-efficiency and pose minimal harm to the environment. Available in solar-powered, compressed natural gas (CNG), battery-operated, and electro-diesel propulsion options, they represent the next frontier in eco-conscious railway transportation.

With the increasing scarcity of natural resources and rising fuel costs, the hybrid train market growth is primarily driven by the need for a sustainable, economical, and reliable mode of transport. Freight companies are increasingly investing in hybrid trains to reduce operating costs, and governments across the globe are setting stringent policies to promote alternative fuel-powered trains meeting requisite emission and efficiency standards. The surge of green transportation solutions, the addition of lithium-ion batteries enhancing power conservation and charge sustainability, coupled with infrastructural developments and expanding rail connectivity, all positively contribute to the market growth. Venture into this informative report to gain a detailed view of trends, market segmentation and the key players in the field.

The global hybrid train market size reached US$ 14.4 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 19.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.01% during 2023-2028.

Hybrid train is a locomotive transportation medium that is powered by an on-board rechargeable energy storage system (RESS), in combination with other fuel, such as diesel. They are located between power source and traction transmission system that are directly connected with wheels to promote smooth operations. They further use various energy storing devices, including supercapacitors, flywheels, and batteries, to sustain additional energy produced from regenerative braking. As compared to conventional fuel trains, hybrid trains are more reliable, emission-free, noise-free, cost-effective, and eco-friendly. At present, hybrid trains are commercially available in solar-powered, compressed natural gas (CNG), battery-operated, and electro-diesel propulsion types.

Hybrid Train Market Trends:

The widespread adoption of the hybrid train as a cost-effective, sustainable, and reliable mode of transportation can be attributed to the increasing scarcity of natural resources and the hiking fuel prices. This represents the key factor primarily driving the market growth. Furthermore, the emerging trend of green transportation solutions, along with the introduction of stringency policies by governments of various nations to promote the uptake of alternative fuel-powered trains, such as hybrid trains that meet the required emission and efficiency standards, are propelling the market growth. Conventional fuel-powered trains generate various hazardous gases, including nitrogen dioxide (NO) and carbon dioxide (CO2), which is responsible for causing various ecological and health issues. In line with this, freight companies are increasingly participating in frequent mergers and acquisitions (M&A) to collectively invest in hybrid trains, thus helping them in cutting down operating costs, including fuel and maintenance. Moreover, the incorporation of lithium-ion batteries in hybrid trains to ensure minimal power consumption, improved voltage capacity, longer charge retention is contributing to the market growth. Other factors, such as rapid urbanization, expansion in construction activities to strengthen transportation infrastructure, and increasing railway connectivity, are positively stimulating the market growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global hybrid train market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on propulsion type, operating speed and application.

Breakup by Propulsion Type:

  • Electro-Diesel
  • Battery Operated
  • Hydrogen Powered
  • Gas Powered
  • Solar Powered

Breakup by Operating Speed:

  • Below 100 Km/h
  • 100-200 Km/h
  • Above 200 Km/h

Breakup by Application:

  • Passenger
  • Freight

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Alstom SA, Ballard Power Systems Inc., Construcciones y Auxiliar de Ferrocarriles, CRRC Corporation Limited, Hitachi Ltd., Rolls-Royce Holdings plc, Siemens AG, Stadler Rail AG, The Kinki Sharyo Co. Ltd., Toshiba Infrastructure Systems & Solutions Corporation and Vivarail Ltd.

Key Questions Answered in This Report:

  • How has the global hybrid train market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global hybrid train market?
  • What are the key regional markets?
  • What is the breakup of the market based on the propulsion type?
  • What is the breakup of the market based on the operating speed?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global hybrid train market and who are the key players?
  • What is the degree of competition in the industry?
Frequently Asked Questions about the Global Hybrid Train Market

What is the estimated value of the Global Hybrid Train Market?

The Global Hybrid Train Market was estimated to be valued at $14.4 Billion in 2022.

What is the growth rate of the Global Hybrid Train Market?

The growth rate of the Global Hybrid Train Market is 5.3%, with an estimated value of $19.6 Billion by 2028.

What is the forecasted size of the Global Hybrid Train Market?

The Global Hybrid Train Market is estimated to be worth $19.6 Billion by 2028.

Who are the key companies in the Global Hybrid Train Market?

Key companies in the Global Hybrid Train Market include Alstom SA, Ballard Power Systems Inc., Construcciones y Auxiliar de Ferrocarriles, CRRC Corporation Limited, Hitachi Ltd., Rolls, Royce Holdings plc, Siemens AG, Stadler Rail AG and The Kinki Sharyo Co. Ltd..

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Hybrid Train Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Propulsion Type
6.1 Electro-Diesel
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Battery Operated
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Hydrogen Powered
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Gas Powered
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Solar Powered
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Operating Speed
7.1 Below 100 Km/h
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 100-200 Km/h
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Above 200 Km/h
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Application
8.1 Passenger
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Freight
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Alstom SA
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Ballard Power Systems Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Construcciones y Auxiliar de Ferrocarriles
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 CRRC Corporation Limited
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Hitachi Ltd.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Rolls-Royce Holdings plc
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Siemens AG
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Stadler Rail AG
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.9 The Kinki Sharyo Co. Ltd.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.10 Toshiba Infrastructure Systems & Solutions Corporation
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Vivarail Ltd
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio

Companies Mentioned

  • Alstom SA
  • Ballard Power Systems Inc.
  • Construcciones y Auxiliar de Ferrocarriles
  • CRRC Corporation Limited
  • Hitachi Ltd.
  • Rolls-Royce Holdings plc
  • Siemens AG
  • Stadler Rail AG
  • The Kinki Sharyo Co. Ltd.
  • Toshiba Infrastructure Systems & Solutions Corporation
  • Vivarail Ltd.

Methodology

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