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Global Railway Propulsion System Market to reach USD 14.08 billion by the end of 2030.

Global Railway Propulsion System Market Size study & Forecast, by Type (Diesel, Diesel-Electric, Electric), by Application (Locomotive, Metro, Monorail, Trams, Others), by End User (Passenger Transit, Cargo Transit) and Regional Analysis, 2023-2030

Product Code: ALTAMC-79602199
Publish Date: 30-10-2023
Page: 200

Global Railway Propulsion System Market is valued at approximately USD 9.9 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2023-2030. The Railway Propulsion System is a set of technologies and mechanisms responsible for powering and driving trains along railway tracks. It encompasses the various methods used to generate, transmit, and convert energy into the necessary motive force to propel trains efficiently and safely. These propulsion systems often involve intricate engineering solutions, including power distribution, control systems, regenerative braking, and energy management, all of which contribute to the overall efficiency and performance of modern railways. The Railway Propulsion System market is expanding because of factors such as an increase in the allocation of budget for the development of railways, a rise in the use of public transport services, growing focus on urban mobility solutions.

The countries across the globe are constantly increasing their rail budget to adopt the latest technologies and improve their infrastructure, which is driving market growth. For instance, In February of 2023, France unveiled its intention to inject approximately USD 118 billion into rail transport by the year 2040. This blueprint encompasses both the enlargement and enhancement of the rail network, featuring the introduction of high-speed commuter trains for swift travel. Additionally, a global trend toward establishing sustainable and effective transportation systems is apparent. For example, the European Union (EU) disclosed its commitment in June 2023 to allocate USD 6.9 billion for the development of secure, eco-friendly, and proficient transport infrastructure. Through the Connecting Europe Facility (CEF), the European Commission designated 107 transport infrastructure ventures to receive these EU grants. Furthermore, the Indian government earmarked approximately USD 33.3 billion for the advancement of Indian Railways in the year 2023. In addition, the Surge in the adoption of automation, digitization, and connectivity in the railway infrastructure, and increasing advancement in railway propulsion systems are creating new opportunities in the market. However, the high initial investment stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Railway Propulsion System Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the growing railway passenger traffic, supportive government initiatives, growing freight transportation, growing investments for the development of a high-speed rail network, a growing number of rail passengers, rising growing public and private investments in the expansion of the railway network. Europe is expected to grow significantly over the forecast period, owing to factors such as rising investment in railway infrastructure, rising railway industry, and rising technological advancement in the region.

Major market player included in this report are:
Siemens Mobility
Alstom SA
Bombardier Transportation
CRRC Corporation Limited
ABB Group
General Electric (GE) Transportation
Hitachi Rail Limited
Knorr-Bremse AG
Toshiba Infrastructure Systems & Solutions Corporation
Voith Group

Recent Developments in the Market:
Ø In January 2023, Siemens Mobility was awarded a substantial contract by Indian Railways to manufacture 1,200 electric locomotives. The total contract worth was approximately USD 3.26 billion and encompasses the complete scope of design, production, commissioning, and testing of these locomotives. The locomotives would feature cutting-edge propulsion systems, and the advanced technology components would be manufactured domestically in Siemens Mobility’s Indian factories.
Ø In July 2022, MTR Nordic AB, a leading rolling stock operator, awarded Alstom a significant contract to provide propulsion systems for their upcoming fleet of 25 Zefiro Express high-speed trains. This marks the first confirmed order for Alstom’s propulsion systems, with a substantial value of aroundUSD714 million. The inaugural train is scheduled for delivery in the year 2026.

Global Railway Propulsion System Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Application, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

By Application:

By End User:
Passenger Transit
Cargo Transit

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Railway Propulsion System Market, by Region, 2020-2030 (USD Billion)
1.2.2. Railway Propulsion System Market, by Type, 2020-2030 (USD Billion)
1.2.3. Railway Propulsion System Market, by Application, 2020-2030 (USD Billion)
1.2.4. Railway Propulsion System Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Railway Propulsion System Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Railway Propulsion System Market Dynamics
3.1. Railway Propulsion System Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increase in the allocation of budget for the development of railways Rise in the use of public transport services Growing focus on urban mobility solutions
3.1.2. Market Challenges High initial investment
3.1.3. Market Opportunities Surge in the adoption of automation, digitization, and connectivity in the railway infrastructure Increasing advancement in railway propulsion system
Chapter 4. Global Railway Propulsion System Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Railway Propulsion System Market, by Type
5.1. Market Snapshot
5.2. Global Railway Propulsion System Market by Type, Performance – Potential Analysis
5.3. Global Railway Propulsion System Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Railway Propulsion System Market, Sub Segment Analysis
5.4.1. Diesel
5.4.2. Diesel-Electric
5.4.3. Electric
Chapter 6. Global Railway Propulsion System Market, by Application
6.1. Market Snapshot
6.2. Global Railway Propulsion System Market by Application, Performance – Potential Analysis
6.3. Global Railway Propulsion System Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Railway Propulsion System Market, Sub Segment Analysis
6.4.1. Locomotive
6.4.2. Metro
6.4.3. Monorail
6.4.4. Trams
6.4.5. Others
Chapter 7. Global Railway Propulsion System Market, by End User
7.1. Market Snapshot
7.2. Global Railway Propulsion System Market by End User, Performance – Potential Analysis
7.3. Global Railway Propulsion System Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
7.4. Railway Propulsion System Market, Sub Segment Analysis
7.4.1. Passenger Transit
7.4.2. Cargo Transit
Chapter 8. Global Railway Propulsion System Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Railway Propulsion System Market, Regional Market Snapshot
8.4. North America Railway Propulsion System Market
8.4.1. U.S. Railway Propulsion System Market Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 End User breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Railway Propulsion System Market
8.5. Europe Railway Propulsion System Market Snapshot
8.5.1. U.K. Railway Propulsion System Market
8.5.2. Germany Railway Propulsion System Market
8.5.3. France Railway Propulsion System Market
8.5.4. Spain Railway Propulsion System Market
8.5.5. Italy Railway Propulsion System Market
8.5.6. Rest of Europe Railway Propulsion System Market
8.6. Asia-Pacific Railway Propulsion System Market Snapshot
8.6.1. China Railway Propulsion System Market
8.6.2. India Railway Propulsion System Market
8.6.3. Japan Railway Propulsion System Market
8.6.4. Australia Railway Propulsion System Market
8.6.5. South Korea Railway Propulsion System Market
8.6.6. Rest of Asia Pacific Railway Propulsion System Market
8.7. Latin America Railway Propulsion System Market Snapshot
8.7.1. Brazil Railway Propulsion System Market
8.7.2. Mexico Railway Propulsion System Market
8.8. Middle East & Africa Railway Propulsion System Market
8.8.1. Saudi Arabia Railway Propulsion System Market
8.8.2. South Africa Railway Propulsion System Market
8.8.3. Rest of Middle East & Africa Railway Propulsion System Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Siemens Mobility Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Alstom SA
9.3.3. Bombardier Transportation
9.3.4. CRRC Corporation Limited
9.3.5. ABB Group
9.3.6. General Electric (GE) Transportation
9.3.7. Hitachi Rail Limited
9.3.8. Knorr-Bremse AG
9.3.9. Toshiba Infrastructure Systems & Solutions Corporation
9.3.10. Voith Group
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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