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The electric locomotives market is expected to grow from $2.99 trillion in 2020 to $3.19 trillion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The market is expected to reach $4.34 trillion in 2025 at a CAGR of 8%.

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Electric Locomotives Market Driver
Increasing preference for non-polluting and energy-efficient transport is contributing to the growth of the electric locomotive market.

Electric Locomotives Market Trends
The emergence of dual-mode locomotive electric trains will be one of the major trends that will gain traction in the electric locomotive market in the forecast period.

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Electric Locomotives Market Segmentation By The Business Research Company

1) By Energy Transfer: Overhead Lines, Third Rail, On-board Energy Storage

2) By Technology: IGBT Module, GTO Thyristor, SiC Module

3) By Traction Units: AC Traction Units, DC Traction Units, Multi System Units

4) By Application: Passenger Transport, Freight Transport

Major Players And Regions Of The Electric Locomotives Market
Major players in the electric locomotives market are CRRC Corporation Limited, Bombardier Inc, Alstom SA, Siemens AG, Kawasaki Heavy Industries Ltd, General Electric Company, Transmashholding AG, Stadler Rail AG, Hitachi Ltd, and AEG Power Solutions.

Western Europe was the largest region in the electric locomotives market in 2021.

The Electric Locomotives Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the electric locomotives market.

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