Siemens Mobility Signs $7.3 Billion Contract With Amtrak To Develop Multi-Powered Trains

The Business Research Company’s Power Train And Power Train Parts Global Market Report 2021: COVID 19 Impact And Recovery To 2030

Railway company Siemens Mobility has signed a contract worth $7.3 billion with rail transport company Amtrak to produce around 83 multi-powered modern trains. The deal also includes an option for manufacturing up to 130 additional trains to assist in Amtrak’s growth plans. Amtrak’s new fleet of trains will come with remote monitoring and fully integrated digital diagnostics offering improved reliability. The fleet is expected to add more than 1.5 million riders per year, and will operate on the US’ Northeast Corridor, long-distance Palmetto and several state-supported routes, and replace Amtrak-owned Amfleet, Metroliner and state-owned equipment on certain routes throughout the country.[i] The company expects these advanced features to help reduce trip time, improve efficiency, increase availability and reduce long-term costs. This deal also includes equipment buying, long-term parts supply and servicing, and facilities modification and upgrade, which is already a growing market globally.

According to data on the Global Market Model, the global power train and power train parts market is expected to grow from $577.95 billion in 2020 to $605.94 billion in 2021 at a compound annual growth rate (CAGR) of 4.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $811.83 billion in 2025 at a CAGR of 8%.

The powertrain and powertrain parts market covered in this report is segmented by components into engine, transmission, drive shafts, differentials and final drive. The countries covered in the global power train and power train parts market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia.

In 2019, MAHLE Powertrain Ltd, a UK based provider of internal combustion engine (ICE) and electrical powertrain, acquired ZG-Zahnräder und Getriebe GmbH for an amount undisclosed. Through this acquisition, MAHLE aims to optimize its internal combustion engine (ICE) while focusing on new developments in powertrain manufacturing. ZG-Zahnräder und Getriebe GmbH, founded in 2008, is a German based provider of powertrain engineering and gearing technology.

About The Author

Manish has around eight years of experience in consulting and market research. Prior to joining TBRC, he worked with consulting firm GlobalData and Synchrony Financial. At TBRC, he heads the consulting team for the Manufacturing and Services sectors and is involved in managing various qualitative and quantitative market research projects, providing recommendations to help clients achieve their growth objectives. He has worked for clients such as Sony, Honda, Hitachi, Fujitsu, Toshiba, Kobe Steel, Total, Kyocera, JCOAL, JETRO, and BASF. Some key projects he was involved in include Compressors, Water Pumps, Industrial Air Dryers, BLDC Motors, Electric Furnace Steel, Thermoplastic Sheets, and Medical Printers. He has a bachelor’s degree in Mechanical Engineering from NIT Allahabad.

About The Global Market Model

The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.

Here Is A List Of Related Reports From The Business Research Company

Train And Components Global Market Report 2021: COVID-19 Impact And Recovery To 2030

Rail Transport Global Market Report 2021: COVID-19 Impact And Recovery To 2030

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