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Global Hybrid Train Market: By Propulsion: Battery Operated, Electro Diesel, Hydrogen Powered, Others; By Application: Passenger, Freight; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Industry Events and Developments
Global Hybrid Train Market Outlook
The global hybrid train market is expected to grow in the forecast period of 2023-2028 at a CAGR of 6.3%.
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Passenger Segment Expected to Exhibit a Significant Growth in the Forecast Period
Based on application, the passenger segment is expected to exhibit a significant growth during the forecast period. The hybrid train is a cost-effective and efficient mode of passenger and freight transportation. Several cities are building new rail infrastructure projects to relieve traffic congestion and provide an economical mode of intercity and intra-city transit. Improved urbanisation, as well as a growing need for increased connection, comfort, dependability, and safety, are expected to drive the growth of the market.
Europe to Account for a Significant Share in the Hybrid Train Industry
Geographically, the hybrid train industry in Europe is expected to witness a significant growth during the forecast period owing to the rise in adoption of hybrid train in countries such as France, Spain, Germany, and the UK. Furthermore, as urbanisation and rail infrastructure construction activities increase in European countries, the demand for hybrid trains is expected to grow, thereby propelling the industry forward during the forecast period. The market is expected to grow due to an increase in government initiatives aimed at reducing carbon emissions.
Hybrid Train: Market Segmentation
Hybrid train refers to railway cars that use a combination of fuel sources, with electricity being the predominant source. It has a rechargeable energy storage device onboard (RESS). This system is connected to the wheels and sits between the power source and the traction transmission system. Energy is stored in energy storage devices such as batteries, supercapacitors, and flywheels as a result of regenerative braking and excess energy generated during acceleration.
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On the basis of the propulsion, the industry can be segment into:
- Battery Operated
- Electro Diesel
- Hydrogen Powered
- Others
Based on application, the industry can be divided into:
- Passenger
- Freight
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Scarcity of Natural Resources and the Rising Cost of Fuel to Bolster the Growth of the Global Hybrid Train Industry
The growing need for environmentally friendly and energy-efficient rail operations is driving the hybrid train industry. The scarcity of natural resources, coupled with the rising cost of fuel, is likely to shift the focus away from diesel trains and towards eco-friendly transportation systems throughout the predicted period, boosting the demand for hybrid trains. Additionally, on the demand side, railway operators, freight companies, and government agencies want trains that are both energy-efficient and environmentally friendly. While the COVID-19 pandemic has adversely affected the hybrid train industry, disrupting the whole ecosystem and halting both manufacturing and sales of new rail cars throughout the world, the demand is expected to recover. Furthermore, the governments in several nations have established rigorous emission standards, forcing manufacturers to use new, less polluting hybrid train technology. Furthermore, constant research and development initiatives in this sector are likely to contribute considerably to the market growth.
Key Industry Players in the Global Hybrid Train Market
The report gives a detailed analysis of the following key players in the global hybrid train market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- CRRC CORPORATION LIMITED
- ALSTOM Holdings
- Siemens Mobility GmbH
- Hitachi Rail Limited
- Rolls-Royce plc
- Toshiba Infrastructure Systems & Solutions Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Propulsion, Application, Region |
| Breakup by Propulsion | Battery Operated, Electro Diesel, Hydrogen Powered, Others |
| Breakup by Application | Passenger, Freight |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | CRRC CORPORATION LIMITED, ALSTOM Holdings, Siemens Mobility GmbH, Hitachi Rail Limited, Rolls-Royce plc, Toshiba Infrastructure Systems & Solutions Corporation, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Hybrid Train Market Analysis
8.1 Key Industry Highlights
8.2 Global Hybrid Train Historical Market (2018-2022)
8.3 Global Hybrid Train Market Forecast (2023-2028)
8.4 Global Hybrid Train Market by Propulsion
8.4.1 Battery Operated
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Electro Diesel
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Hydrogen Powered
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Hybrid Train Market by Application
8.5.1 Passenger
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Freight
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Hybrid Train Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 CRRC CORPORATION LIMITED
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 ALSTOM Holdings
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Siemens Mobility GmbH
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Hitachi Rail Limited
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Rolls-Royce plc
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Toshiba Infrastructure Systems & Solutions Corporation
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Hybrid Train Market: Key Industry Highlights, 2018 and 2028
2. Global Hybrid Train Historical Market: Breakup by Propulsion (USD Million), 2018-2022
3. Global Hybrid Train Market Forecast: Breakup by Propulsion (USD Million), 2023-2028
4. Global Hybrid Train Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Hybrid Train Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Hybrid Train Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Hybrid Train Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Hybrid Train Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Hybrid Train Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Hybrid Train Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Hybrid Train Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Hybrid Train Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Hybrid Train Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Hybrid Train Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Hybrid Train Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Hybrid Train Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Hybrid Train Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Hybrid Train Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 6.3% between 2023 and 2028.
The major drivers of the industry, such as the increasing demand for eco-friendly and energy-efficient rail operations, favourable government initiatives, and the growing need for transportation, are expected to aid the market growth.
The key market trend guiding the growth of the industry include the continuous research and development activities by the key industry players.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Battery operated, electro diesel, and hydrogen powered, among others are the major segments based on propulsion considered within the market report.
The significant applications considered within the market report include passenger and freight.
The major players in the industry are CRRC CORPORATION LIMITED, ALSTOM Holdings, Siemens Mobility GmbH, Hitachi Rail Limited, Rolls-Royce plc, and Toshiba Infrastructure Systems & Solutions Corporation, among others.
Analyst Review
The global hybrid train market is being driven by the continuous research and development activities being carried out by the key industry players. Aided by the the increasing demand for eco-friendly and energy-efficient rail operations, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 6.3%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on propulsion, the industry can be categorised into battery operated, electro diesel, and hydrogen powered, among others. On the basis of application, the industry can be segmented into passenger and freight. The major regional markets for hybrid train are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include CRRC CORPORATION LIMITED, ALSTOM Holdings, Siemens Mobility GmbH, Hitachi Rail Limited, Rolls-Royce plc, and Toshiba Infrastructure Systems & Solutions Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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