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Hybrid Train Market Report by Propulsion Type (Electro-Diesel, Battery Operated, Hydrogen Powered, Gas Powered, Solar Powered), Operating Speed (Below 100 Km/h, 100-200 Km/h, Above 200 Km/h), Application (Passenger, Freight), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A5743
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Market Overview:
The global hybrid train market size reached US$ 15.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 22.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.42% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 15.2 Billion |
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Market Forecast in 2032
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US$ 22.6 Billion |
| Market Growth Rate (2024-2032) | 4.42% |
Hybrid train is a locomotive transportation medium that is powered by an on-board rechargeable energy storage system (RESS), in combination with other fuel, such as diesel. They are located between power source and traction transmission system that are directly connected with wheels to promote smooth operations. They further use various energy storing devices, including supercapacitors, flywheels, and batteries, to sustain additional energy produced from regenerative braking. As compared to conventional fuel trains, hybrid trains are more reliable, emission-free, noise-free, cost-effective, and eco-friendly. At present, hybrid trains are commercially available in solar-powered, compressed natural gas (CNG), battery-operated, and electro-diesel propulsion types.
Hybrid Train Market Trends:
The widespread adoption of the hybrid train as a cost-effective, sustainable, and reliable mode of transportation can be attributed to the increasing scarcity of natural resources and the hiking fuel prices. This represents the key factor primarily driving the market growth. Furthermore, the emerging trend of green transportation solutions, along with the introduction of stringency policies by governments of various nations to promote the uptake of alternative fuel-powered trains, such as hybrid trains that meet the required emission and efficiency standards, are propelling the market growth. Conventional fuel-powered trains generate various hazardous gases, including nitrogen dioxide (NO) and carbon dioxide (CO2), which is responsible for causing various ecological and health issues. In line with this, freight companies are increasingly participating in frequent mergers and acquisitions (M&A) to collectively invest in hybrid trains, thus helping them in cutting down operating costs, including fuel and maintenance. Moreover, the incorporation of lithium-ion batteries in hybrid trains to ensure minimal power consumption, improved voltage capacity, longer charge retention is contributing to the market growth. Other factors, such as rapid urbanization, expansion in construction activities to strengthen transportation infrastructure, and increasing railway connectivity, are positively stimulating the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hybrid train market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on propulsion type, operating speed and application.
Breakup by Propulsion Type:
- Electro-Diesel
- Battery Operated
- Hydrogen Powered
- Gas Powered
- Solar Powered
Breakup by Operating Speed:
- Below 100 Km/h
- 100-200 Km/h
- Above 200 Km/h
Breakup by Application:
- Passenger
- Freight
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alstom SA, Ballard Power Systems Inc., Construcciones y Auxiliar de Ferrocarriles, CRRC Corporation Limited, Hitachi Ltd., Rolls-Royce Holdings plc, Siemens AG, Stadler Rail AG, The Kinki Sharyo Co. Ltd., Toshiba Infrastructure Systems & Solutions Corporation and Vivarail Ltd.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Propulsion Type, Operating Speed, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Alstom SA, Ballard Power Systems Inc., Construcciones y Auxiliar de Ferrocarriles, CRRC Corporation Limited, Hitachi Ltd., Rolls-Royce Holdings plc, Siemens AG, Stadler Rail AG, The Kinki Sharyo Co. Ltd., Toshiba Infrastructure Systems & Solutions Corporation and Vivarail Ltd. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global hybrid train market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global hybrid train market?
- What are the key regional markets?
- What is the breakup of the market based on the propulsion type?
- What is the breakup of the market based on the operating speed?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global hybrid train market and who are the key players?
- What is the degree of competition in the industry?
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