Global Locomotive Market is expected to register a steady CAGR of 2.79% in the forecast period of 2019-2026. This rise in market value can be attributed to the rise in the levels of expenditure on the advancements modernization of railway systems globally, also high levels of government expenditure to improve and develop rail transport systems for public conveyance.
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Key Developments in the Market:
- In February 2019, Wabtec Corporation announced that they had completed the merger with GE Transportation. This merger establishes Wabtec as a global leader in transportation & logistics products and services providing the highest levels of modernized & advanced levels of equipments and components.
- In December 2018, A. Stucki Company announced that they had acquired Savage Fueling Corp. The acquisition will help in expansion of locomotive services of A. Stucki Company where Savage Fueling Corp. will continue to operate with the same management & employees although the name will be changed to Velocity Rail Solutions.
Global Locomotive Market Definition:
Locomotives can be defined as an engine of railway vehicles which is the power source for their movements, although they are also capable of carrying the payload which is more preferable rather than having an individual locomotive attached to different rail vehicles that cannot move by themselves. These systems are generally preferred in passenger rail transport systems rather than freight.
Global Locomotive Market Key Competitors:
Few of the major competitors currently working in the locomotive market are:-
- AEG Power Solutions B.V.;
- TOSHIBA CORPORATION;
- Hitachi, Ltd.;
- Bharat Heavy Electricals Limited;
Wabtec Corporation; Metso Corporation; Brookville Equipment Corporation; Materfer; KONČAR – Electronics and Informatics Inc.; A. Stucki Company; UGL Rail; Tata Motors; Kawasaki Rail Car, Inc.; HYUNDAI ROTEM COMPANY; Taiwan Rolling Stock Co, Ltd. and Stadler Rail AG.
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Global Locomotive Market Competitive Analysis:
Global locomotive market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of locomotive market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Table of Contents
- Market Segmentation
- Market Overview
- Executive Summary
- Premium Insights
- Global, By Component
- Product Type
- Industry Type
10.2. North America
10.5. South America
10.6. Middle East & Africa
- Company Landscape
- Company Profiles
- Related Reports
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