The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growing emphasis on reducing railway emissions is likely to stimulate innovation in hybrid train manufacturing, propelling the market during the forecast period.

The global hybrid train market is expected to grow from $16.12 billion in 2022 to $17.39 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The global hybrid train market is expected to grow to $22.62 billion in 2027 at a CAGR of 6.8%.

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Global Hybrid Train Market Segments Include:

• By Propulsion: Electro-Diesel, Battery Operated, Hydrogen Powered, Gas Powered, Solar Powered
• By Operational Speed: Below 100 km/h; 100-200 km/h; Above 200 km/h
• By Application: Freight, Passenger
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe is the largest region in the global hybrid train market in 2021.

Major Market Players in the hybrid train market include CRRC, Alstom, Siemens, Wabtec Corporation, Hyundai Rotem, Bombardier, Inc., Stadler Rail AG, Hitachi Ltd., Ballard Power Systems Inc., Construcciones y Auxiliar de Ferrocarriles.

The development of battery-powered trains is a major topic that is gaining traction in the hybrid train sector. These trains are an environmentally sustainable mode of transportation. Given that lithium-ion battery prices are expected to fall in the next years, these battery-powered trains will most likely prove to be a sustainable and cost-effective choice for the railway industry. For example, in May 2022, India’s West Central Railway created a battery-powered dual-mode locomotive. The engine can pull 18 coaches at a speed of 30 kmph in both modes (battery and electricity). Every day, the battery-powered locomotive will save 1,000 litres of diesel.

The Hybrid Train Global Market Report 2023 provides a hybrid train market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The hybrid train market forecast analyzes hybrid train market size, hybrid train market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Hybrid trains use an energy-efficient combination of a conventional diesel engine and an electric driving system. These trains run on a mix of fuels, with electricity being the principal fixed fuel. A hybrid train is primarily utilised for passenger and cargo transportation.

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