Hybrid Train Market worth 446 Units by 2030 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 3, 2023 /PRNewswire/ -- Hybrid Train Market is projected to grow from 412 units in 2023 to 446 units by 2030, registering a CAGR of 1.1%., during the forecast period 2023-2030, according to a new report by MarketsandMarkets™. The demand for hybrid trains is surging worldwide, driven by a convergence of critical factors. In an era characterized by increasing urbanization, heightened environmental consciousness, and a growing emphasis on energy efficiency, hybrid trains have emerged as a transformative solution for the modern rail transportation landscape. Additionally, government authorities' support and regulations favouring eco-friendly transportation are playing a pivotal role in driving the growth of the hybrid train market. Moreover, the integration of cutting-edge technologies, such as autonomous train systems and the use of fuel cells for heavy load transportation, is further elevating the market's appeal. As cities expand and environmental concerns intensify, hybrid trains are rapidly becoming the cornerstone of a cleaner, more efficient, and sustainable future for rail travel.
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Browse in-depth TOC on "Hybrid Train Market".
197 - Tables
76 - Figures
257 - Pages
Hybrid Train Market Scope:
Report Coverage | Details |
Market Size | 446 units by 2030 |
Growth Rate | 1.1% of CAGR |
Largest Market | Europe |
Market Dynamics | Drivers, Restraints, Opportunities & Challenges |
Forecast Period | 2023-2030 |
Forecast Units | Volume (Units) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Battery Type, Application, Operating Speed, Service Power, Propulsion Type, and Region |
Geographies Covered | Asia Oceania, Europe, North America, the Middle East & Africa, and the Rest of the World |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Retrofitting of diesel-electric trains |
Key Market Drivers | Demand for energy-efficient and less polluting train operations |
"Hybrid trains with less than 2000 kW service power is expected to grow at the fastest rate during the forecast period."
Hybrid trains with less than 2000 kW service power is expected to grow at the fastest rate during the forecast period. Many hybrid trains in this power range are designed for urban and commuter rail systems. These trains typically operate on shorter routes within city limits or suburban areas. The lower service power is sufficient for these applications, where high-speed or long-distance travel is not a primary requirement. Urban rail networks often have electrified tracks within city limits. Trains with lower service power can efficiently operate on these electrified sections, reducing energy costs and emissions. These trains are typically used for shorter commuter routes, such as subway, light rail, or regional rail services, where the distance between stops is relatively short. These systems often require trains with lower service power to navigate the relatively short distances between stops in urban environments. Hybrid trains in this power range are well-suited for these applications. Trains with lower service power can efficiently utilize the electrified sections, reducing energy costs and emissions while operating in urban areas. For instance, Vossloh is developing a hybrid shunting locomotive called the HybridShunter with a service power rating of 500 kW. Alstom is developing a hybrid tram called the Citadis Eco2 with a service power rating of 400 kW. Such development will drive the market growth in the forecast period.
"Hybrid trains with speed between 100-200 KM/H to be the largest segment market during the forecast period."
During the forecast period, the 100-200 km/h sector is expected to be the largest segment in the hybrid train industry. The hybrid trains travel at speeds ranging from 100 to 200 km/h on adapted existing lines. The 100-200 km/h segment now accounts for a sizable portion of the operational hybrid train market. Initially, these trains were propelled by electric propulsion and an existing diesel engine. Then, improvements in other hybrid train technologies, such as battery electric and hydrogen battery powered trains, steadily enhanced hybrid train operational speed. CRRC and Chengdu Rail Transit collaborated in January 2023 to develop a zero-emission hydrogen train which will shortly begin operating on Chinese tracks. The train has a top speed of 160 km/h. The Coradia Continental battery-electric trains, with a length of 56 meters and seating for 150 passengers, have a range of up to 120 kilometers and can operate both under catenary and on non-electrified sections.
"North America to be the fastest growing market for Hybrid trains during the forecast period."
The North American railway industry is one of the most advanced railway industries in the world. Major railroad manufacturers like Ballard, BNSF, and Wabtec Corporation are located there. The development of new trains and locomotives as well as considerable R&D take place mostly in North America. The US, followed by Canada and Mexico, is North America's largest market for hybrid trains. The second largest market for hybrid trains in North America is Canada, which has historically been a technological leader on a global scale. Alternative fuels and hybrid train technologies are in high demand due to the need for greater fuel economy and rising carbon emissions by trains. The US hold the largest market share in 2023. Federal and state regulations in the United States have imposed strict limits on emissions from transportation vehicles, including trains. Hybrid trains help rail operators meet these emissions standards while providing flexibility and longer operational ranges. Furthermore, the North American hybrid train market is predicted to be the fastest-growing global market. Ballard, Cummins, and Wabtec Corporation are located in the region and are important players in the hybrid train business, supplying hybrid locomotives all over the world. For example, North American railroad Union Pacific announced in January 2022 that it had ordered ten FLXDrive battery-electric locomotives from manufacturer Wabtec. The acquisition represents Wabtec's largest single order of FLXDrives, as well as the greatest investment in battery-electric locomotives by a North American railroad (Union Pacific). In addition, Caterpillar Inc. announced in January 2022 that Union Pacific Railroad will purchase ten battery-electric locomotives from Progress Rail, a Caterpillar Company. Furthermore, freight transportation accounts for the greatest portion of the market in the country, and this trend is likely to continue during the projection period.
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Key Market Players:
The major players in Hybrid Tarin Companies include CRRC (China), Alstom (France), Siemens (Germany), Wabtec Corporation (US), and Stadler Rail AG (Switzerland).
Recent Developments:
In August 2023, Alstom and the Verkehrsverbund Mittelsachsen (VMS) of Central Saxony unveiled a new battery-powered train in Chemnitz, Germany. VMS has ordered a total of eleven Coradia Continental battery-electric trains. These trains will begin service on the Chemnitz-Leipzig route in 2024.
In June 2023, The CRRC unveiled the "world's most powerful" hydrogen train. The new Ningdong engine apparently has a 270kg liquefied hydrogen capacity and can run for up to 190 hours.
In May 2023, Alstom and Export Development Canada (EDC), Canada's export credit agency, signed a Sustainable Global Corporate Partnership agreement to promote investments in clean mobility worldwide.
In May 2023, Siemens Mobility and Niederbarnimer Eisenbahn (NEB) unveiled the final design of the Mireo Plus, which will enter operation on the Heidekrautbahn and East Brandenburg train networks in December 2024.
In June 2022, the 3000 HP permanent magnet hybrid shunting locomotive developed by CRRC reached about 2000 km of safe operation. Compared with the traditional shunting diesel locomotive, the locomotive was highly praised by customers for its outstanding energy efficiency and environmental protection effect.
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