Due to increasing need for development of energy efficient solutions for power conversion systems, there have been advancements in traction motors, which is driving the demand for energy efficient traction motors. The increase in the demand for traction motors can be attributed to the benefits offered such as weight reduction and decreased fuel consumption.
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Study on Locomotive Market highlights key players such as Siemens AG (Germany), CRRC Corporation Limited (China), Bombardier Inc. (Canada), Alstom S.A. (France), Wabtec Corporation (U.S.), Hitachi Ltd.
(Japan), Toshiba Corporation (Japan), Strukton (Netherlands), AEG Power solutions (Germany), Turbo Power Systems (England).
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The Locomotive market for power conversion systems is projected to grow at a CAGR of 2.92%, to reach a market size of USD 4.27 billion by 2021.
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- Locomotive Power Conversion System Marekt Size (Value), 2016 vs 2021
- Locomotive Power Conversion System Market Size (Value), By Region & By Rolling Stock Type, 2016
- Regional Market Share of Power Conversion System in Locomotives (Value), By Component
- Rolling Stock Power Conversion System Market (Volume), By Technology
- Rolling Stock Power Conversion Modules - Product Life Cycle Analysis
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The Asia-Pacific is estimated to dominate the locomotive market for power conversion systems, and is projected to grow at the highest CAGR during the forecast period. This growth can be credited to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand.
The sizeable populations in countries such as China and India have resulted in increase in need for public transport, which in turn has resulted in an increase in the number of government rail projects.
Key Points From Table Of Content:
5 Market Overview
5.2 Market Segmentation
5.2.1 Global Locomotive Power Conversion System Market - Report Segmentations
184.108.40.206 Locomotive Power Conversion System Market, By Locomotive Type
5.3 Market Dynamics
220.127.116.11 Power Conversion System Market to Be Fuelled By Growing Demand for Energy-Efficient Rolling Stock
18.104.22.168 Increase in Urbanization Will Boost the Demand for Rolling Stock
22.214.171.124 Capital-Intensive Nature of Rolling Stock
126.96.36.199 Increased Demand for Rolling Stock in Emerging Market
188.8.131.52 Increase in Industrial and Mining Activities
184.108.40.206 Technological Upgradation: SiC Inverters
220.127.116.11 High Overhaul & Maintenance Cost
5.4 Porter’s Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competetive Rivalry
Complete report on Locomotive Market spread across 154 Pages, Profiling 10 Companies and Supported with 73 Tables and 52 Figures is now available at www.rnrmarketresearch.com/locomoti…arket-report.html
With the advancement in technology and government norms, OEMs are investing heavily in R&D activities to provide better more fuel-efficient products. One such new technology is the SiC power module which is currently in the introduction phase.
This technology offers better efficiency in terms of reduced power loss and overall weight reduction and is anticipated to grow in the near future.
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