About the Generator Market in Railways
Generators are devices that convert mechanical energy into electrical energy. The source of mechanical energy can be varied, ranging from an internal combustion engine or a hand crank compressed engine to a reciprocating steam engine. An internal combustion engine uses diesel, propane, gasoline, gas, and natural gas to generate mechanical energy, which is converted into electric energy by using a generator assembly. Generators in railway locomotives are used both as a source of electric power for the traction motors as well as a backup source of electric power required to operate air conditioners, lights, and fans inside a coach; they also provide the power required by the electronic and communication equipment installed on the locomotives. A typical generator is powered via a fuel engine.
Technavio’s analysts forecast the Global Generator Market in Railways to grow at a CAGR of 5% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the Global Generator Market in Railways for 2016-2020. This industry research report calculates the market size based on the demand for generators from the railways sector.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Generator Market in Railways 2016-2020
Technavio recognizes the following companies as the key players in the Global Generator Market in Railways: ABB, GE, Harrington, Stadco Generators, and Traktionssysteme Austria.
Other Prominent Vendors in the market are: Caterpillar, Crompton Greaves, Jenoptik, Kirloskar Electric, Sherwood Electromotion, and Toshiba.
Commenting on the report, an analyst from Technavio’s team said: “An emerging trend in the global market is the development of high-speed rail network. The global market for high-speed railways in 2015 was approximately worth $114 billion. The market is predicted to grow at a CAGR of around 4% during the forecast period. The rise in passenger and freight traffic primarily in APAC and Europe has been driving the global market for high-speed railways, causing it grow at a significant rate. The rapid growth in developing countries such as China, in terms of both economy and infrastructure, has significantly expanded the demand for high-speed rail over the past 20 years.”
According to the report, a key growth driver is the increased use of electro-diesel locomotives. The use of electro-diesel locomotives, better known as dual-mode locomotives, has come into prominence since early 2010s. These locomotives have, since then, been undergoing several innovative changes in terms of design to gain enhanced popularity. Electro-diesel locomotives have significant advantages over the conventional diesel locomotives. This type of locomotive can run as an electric locomotive using electrified lines, which reduces the consumption of diesel and, in turn, reduces harmful emissions.
Further, the report states that one challenge that could restrict market growth is the rise in preference for airline services.
ABB, GE, Harrington, Stadco Generators, Traktionssysteme Austria, Caterpillar, Crompton Greaves, Jenoptik, Kirloskar Electric, Sherwood Electromotion, Toshiba.