Global Electric Locomotive Engines Market 2017-2021
About Electric Locomotive Engines
Increasing number of passengers and freight volumes drive the electric locomotive engines market in various regions. Rising concerns regarding pollution and declining air quality have pushed government bodies and private stakeholders to upgrade from diesel-electric locomotives to energy-efficient and non-polluting electric locomotives. In terms of speed and reliability, electric locomotives are more efficient than their diesel-electric counterparts.
Technavio’s analysts forecast the global electric locomotive engines market to grow at a CAGR of 3.65% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global electric locomotive engines market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electric Locomotive Engines Market 2017-2021
Technavio recognizes the following companies as the key players in the global electric locomotive engines market: ALSTOM, China CNR, and Siemens.
Other Prominent Vendors in the market are: CAF, MITSUI & Co., Ltd (MITSUI), ŠKODA AUTO, and Talgo.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is emergence of dual-mode locomotive trains. Annually, about $3 billion worth fuel is used in India for powering the diesel locomotives of the country. The Indian government plans to electrify about 22,000 miles of rails and introduce electric engine locomotives to reduce the dependence on diesel engines. Since the Indian Railways has a limited borrowing capacity, raising funds for building infrastructure for rail electrification will be difficult. The Indian Railways must acquire about 5,000 electric engine locomotives for complete electrification of rails. The additional cost of hiring engineers, additional skilled workforce and re-educating the existing staff about the operations of maintaining traction and locomotive maintenance for electric engines will be high. It would be too complex to re-educate existing staff about operations of dual-mode locomotive engines due to their expertise in working only with diesel locomotive engines. Chittaranjan Locomotive Works is the only company in India that manufactures around 300 electric locomotive engines in a year.”
According to the report, one driver in market is stringent emission standards for diesel locomotive engines. Due to air pollution, around 3 million deaths are reported every year around the world. In 2015, China ranked first with 1.4 million deaths a year, followed by India with 645,000 and Pakistan with 110,000 deaths. Premature deaths occur primarily due to long-term exposure to hazardous engine emissions like nitrogen dioxide, carbon monoxide, sulfur dioxide, and hydrocarbons. Government bodies across the globe formulate various emission norms for checking the particulate emission levels. The transport segment contributes to about 15% of the global greenhouse gas emissions. Approximately 95% of these emissions are generated from vehicles that run on fossil fuels, namely, diesel and gasoline. The emission norms focus primarily on roadways as it constitutes the majority of the transport. In 2015, rail transport contributed to less than 1%, whereas road transport contributed to about 20% of the global carbon dioxide emissions. The increasing rate of electrification since the 1990s has reduced the dependence of locomotives on steam and fossil fuels.
Further, the report states that one challenges in market is augmented cost of rail electrification and freight volumes. Electric locomotive engines provide an economical mode of freight and passenger transport. Electric rails for freight and passenger transport require less fuel and save travel time, thereby ensuring efficiency in transportation. However, the high costs of electrification of rails stretching millions of miles, the subsequent environmental concerns regarding the cutting of trees, and destruction of natural abodes for the construction of electric overhead lines pose challenges for the electric locomotive engines market. In addition, the rising preference for renewable energy has led to a decreased use of thermal coal for powering power plants. This has significantly led to a decrease in the amount of coal transported as freight, thereby increasing the risk and time needed to justify expensive electrification of rails. Coal comprises about 80% of the freight transported by rails.
ALSTOM, China CNR, Siemens, CAF, MITSUI & Co., Ltd (MITSUI), ŠKODA AUTO, and Talgo.