Locomotive Market Growth Potential & Forecast, 2032

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Locomotive Market 2023-2032 Growth Forecast
Industry Share Report
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• Industry Insights

• The study claims that the rapid development of
  railway infrastructure worldwide will strengthen
  the market outlook over 2023-2032. Investments in
  railway infrastructure and the expansion of rail
  networks in various regions are driving the
  demand for locomotives to meet transportation
  needs, improve connectivity, and support economic
  growth.
• For instance, in July 2023, Wabtec Corporation
  inked a multi-year parts contract with PT IMECO
  (PT Imeco Inter Sarana) to provide comprehensive
  support to PT KAI (PT Kereta Api Indonesia's)
  fleet of 150 locomotives. Valued at 190 million,
  this agreement encompasses the provision of
  service kits and training to PT KAI, facilitating
  the streamlined maintenance of their locomotive
  fleet in the region. This strategic technical
  assistance enables PT KAI to concentrate on
  enhancing and extending its passenger and freight
  transportation services.

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• The diesel locomotives industry will register
  commendable growth through 2032. The demand for
  diesel locomotives is gaining traction due to
  their reliability, cost-effectiveness, and
  versatility. Diesel locomotives are well-suited
  for long-haul freight transportation, providing
  ample power and fuel efficiency. Moreover, they
  can operate on non-electrified rail lines,
  extending their utility. Notable instances
  include Union Pacific's recent order for 1,000
  new diesel-electric locomotives to modernize
  their fleet, highlighting the enduring appeal of
  diesel technology in the railway industry.
• The passenger locomotives market share will
  expand substantially through 2032 due to their
  eco-friendliness, energy efficiency, and the
  growing preference for sustainable
  transportation. Electric and hybrid passenger
  locomotives are not only cleaner but also offer
  smoother rides, reducing environmental impact.
  Instances like Amtrak's introduction of new
  Siemens electric locomotives for its Northeast
  Corridor routes highlight this trend, as they
  prioritize electrified rail travel for a more
  environmentally conscious and comfortable
  passenger experience, further contributing to
  their rising popularity.

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• Regional Analysis

North America locomotive industry is experiencing
robust growth, driven by increased demand for
efficient freight transportation and
infrastructure investments. Instances like the
Biden administration's focus on rail as part of
the infrastructure plan, with a proposed 80
billion investment in Amtrak and rail networks,
demonstrate a commitment to bolstering the
sector. Additionally, the surge in e-commerce has
led to greater reliance on rail freight, further
propelling the industry's expansion in the region.

• Competitive Analysis

• General Electric (GE) Transportation, Siemens
  Mobility, CRRC Corporation Limited, Alstom,
  Bombardier Transportation, Wabtec Corporation,
  Progress Rail (a Caterpillar Company),
  Electro-Motive Diesel (EMD), Kawasaki Heavy
  Industries, Hyundai Rotem, Toshiba Railway
  Systems Division, Stadler Rail, Transmashholding,
  CAF (Construcciones y Auxiliar de Ferrocarriles),
  Škoda Transportation

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