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North America Locomotive Market Size, Share & Trends Analysis Report By Type (Electric, Diesel, and Other Type), By Technology, By End-use, By Component, By Country and Growth Forecast, 2025 - 2032

Publisher Knowledge Based Value (KBV) Research
Published Apr 30, 2025
Length 144 Pages
SKU # KBV20172928

Description

The North America Locomotive Market would witness market growth of 8.6% CAGR during the forecast period (2025-2032).

The US market dominated the North America Locomotive Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $9,199.7 million by 2032. The Canada market is experiencing a CAGR of 10.4% during (2025 - 2032). Additionally, The Mexico market would exhibit a CAGR of 9.8% during (2025 - 2032).

The adoption of locomotives has evolved significantly over the past century, influenced by technological advancements, environmental concerns, and the globalization of trade. The market has witnessed significant technological innovations in recent decades. The shift from steam-powered locomotives to diesel and electric engines has improved rail transport's efficiency, performance, and environmental impact. Diesel locomotives offer greater flexibility, as they can operate on unelectrified tracks, while electric locomotives provide higher speeds, greater energy efficiency, and reduced emissions.

Additionally, the integration of advanced technologies such as automatic train control (ATC), positive train control (PTC), real-time data analytics, and advanced signalling systems has enhanced locomotive safety, reliability, and operational efficiency. These innovations have made locomotives more attractive for freight and passenger operators to adopt.

North America is witnessing a significant transformation in its rail transport landscape, driven by economic development, infrastructure expansion, and increasing freight demand. With each country adopting tailored strategies to enhance its rail networks, the region collectively fuels advancements in locomotive technology, procurement, and modernization. From Canada’s expansive rail freight system to Mexico’s growing cross-border connectivity and the U.S.’s robust freight rail infrastructure, locomotive manufacturers and suppliers are finding new growth avenues across the continent.

Based on Type, the market is segmented into Electric, Diesel, and Other Type. Based on Technology, the market is segmented into IGBT Module, SiC Power Module, and GTO Thyristor. Based on End-use, the market is segmented into Freight, Passengers, and Switcher. Based on Component, the market is segmented into Rectifier, Traction Motor, Inverter, Alternator, Auxiliary Power Unit (APU), and Other Component. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled
  • General Electric Company
  • Siemens AG (Siemens Mobility)
  • CRRC Corporation Limited
  • Kawasaki Heavy Industries, Ltd.
  • Alstom SA
  • Hitachi, Ltd.
  • Bharat Heavy Electricals Ltd.
  • Mitsubishi Heavy Industries Ltd.
  • Hyundai Rotem Company (Hyundai Motor Company)
  • Caterpillar, Inc.
North America Locomotive Market Report Segmentation

By Type
  • Electric
  • Diesel
  • Other Type
By Technology
  • IGBT Module
  • SiC Power Module
  • GTO Thyristor
By End-use
  • Freight
  • Passengers
  • Switcher
By Component
  • Rectifier
  • Traction Motor
  • Inverter
  • Alternator
  • Auxiliary Power Unit (APU)
  • Other Component
By Country
  • US
  • Canada
  • Mexico
  • Rest of North America

Table of Contents

144 Pages
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Locomotive Market, by Type
1.4.2 North America Locomotive Market, by Technology
1.4.3 North America Locomotive Market, by End-use
1.4.4 North America Locomotive Market, by Component
1.4.5 North America Locomotive Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Product Launches and Product Expansions
4.2.2 Acquisition and Mergers
4.3 Market Share Analysis, 2024
4.4 Top Winning Strategies
4.4.1 Key Leading Strategies: Percentage Distribution (2021-2025)
4.4.2 Key Strategic Move: (Product Launches and Product Expansions : 2023, Mar – 2025, Feb) Leading Players
4.5 Porter Five Forces Analysis
Chapter 5. North America Locomotive Market by Type
5.1 North America Electric Market by Country
5.2 North America Diesel Market by Country
5.3 North America Other Type Market by Country
Chapter 6. North America Locomotive Market by Technology
6.1 North America IGBT Module Market by Country
6.2 North America SiC Power Module Market by Country
6.3 North America GTO Thyristor Market by Country
Chapter 7. North America Locomotive Market by End-use
7.1 North America Freight Market by Country
7.2 North America Passengers Market by Country
7.3 North America Switcher Market by Country
Chapter 8. North America Locomotive Market by Component
8.1 North America Rectifier Market by Country
8.2 North America Traction Motor Market by Country
8.3 North America Inverter Market by Country
8.4 North America Alternator Market by Country
8.5 North America Auxiliary Power Unit (APU) Market by Country
8.6 North America Other Component Market by Country
Chapter 9. North America Locomotive Market by Country
9.1 US Locomotive Market
9.1.1 US Locomotive Market by Type
9.1.2 US Locomotive Market by Component
9.1.3 US Locomotive Market by End-use
9.1.4 US Locomotive Market by Component
9.2 Canada Locomotive Market
9.2.1 Canada Locomotive Market by Type
9.2.2 Canada Locomotive Market by Component
9.2.3 Canada Locomotive Market by End-use
9.2.4 Canada Locomotive Market by Component
9.3 Mexico Locomotive Market
9.3.1 Mexico Locomotive Market by Type
9.3.2 Mexico Locomotive Market by Component
9.3.3 Mexico Locomotive Market by End-use
9.3.4 Mexico Locomotive Market by Component
9.4 Rest of North America Locomotive Market
9.4.1 Rest of North America Locomotive Market by Type
9.4.2 Rest of North America Locomotive Market by Component
9.4.3 Rest of North America Locomotive Market by End-use
9.4.4 Rest of North America Locomotive Market by Component
Chapter 10. Company Profiles
10.1 General Electric Company
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expense
10.1.5 SWOT Analysis
10.2 Siemens AG (Siemens Mobility)
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expense
10.2.5 Recent strategies and developments:
10.2.5.1 Product Launches and Product Expansions:
10.2.6 SWOT Analysis
10.3 CRRC Corporation Limited
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Regional Analysis
10.3.4 Research & Development Expenses
10.3.5 Recent strategies and developments:
10.3.5.1 Product Launches and Product Expansions:
10.3.6 SWOT Analysis
10.4 Kawasaki Heavy Industries Ltd.
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expense
10.4.5 SWOT Analysis
10.5 Alstom SA
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expenses
10.5.5 Recent strategies and developments:
10.5.5.1 Product Launches and Product Expansions:
10.5.6 SWOT Analysis
10.6 Hitachi, Ltd.
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expenses
10.6.5 Recent strategies and developments:
10.6.5.1 Product Launches and Product Expansions:
10.6.5.2 Acquisition and Mergers:
10.6.6 SWOT Analysis
10.7 Bharat Heavy Electricals Ltd.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Research & Development Expenses
10.7.5 Recent strategies and developments:
10.7.5.1 Product Launches and Product Expansions:
10.7.6 SWOT Analysis
10.8 Mitsubishi Heavy Industries Ltd.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental Analysis
10.8.4 Research & Development Expenses
10.8.5 Recent strategies and developments:
10.8.5.1 Product Launches and Product Expansions:
10.8.6 SWOT Analysis
10.9 Hyundai Rotem Company (Hyundai Motor Company)
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental and Regional Analysis
10.9.4 Research & Development Expense
10.10. Caterpillar, Inc.
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental and Regional Analysis
10.10.4 Research & Development Expense
10.10.5 Recent strategies and developments:
10.10.5.1 Product Launches and Product Expansions:
10.10.6 SWOT Analysis

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