Locomotive Market Size – Industry Share by 2021

The Locomotive Market for power conversion systems is primarily driven by for expansion of rail network infrastructure, increasing urbanization and environmental sustainability. With the growth in urbanization and industrialization, there is going to be a substantial increase in the demand for power and related conversion systems during the forecast period.

With the extension of rail networks across the globe, there has been a substantial increase in the production of locomotives to meet the rising demand for public transport. This has eventually resulted in the demand for power conversion systems across the globe. Hence, the market for power conversion systems is projected to grow at a CAGR of 2.92% during the forecast period, to reach a market size of USD 4.27 Billion by 2021

Demand Side Analysis:

• Infrastructure: Rail Network
• High-Speed Rail Links Between Major Countries

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The Asia-Pacific region is estimated to dominate the power conversion system market. This growth can be credited to improving socio-economic conditions in emerging economies such as China, India, and Japan. The sizeable populations in these countries have resulted in an increased number of government projects such as the extension of rail routes, an increase in production of rolling stock, advanced rail infrastructure, and the replacement of power conversion systems for better efficiency. The power conversion system market, by technology, is led by the IGBT module. The high demand for this module is credited to the advantages it offers, such as its reduced weight and lesser power loss while switching the current from AC to DC and vice-versa.

The report provides detailed profiles of the following companies:

• Siemens AG (Germany)
• CRRC Corporation Limited (China)
• Bombardier Inc. (Canada)
• Alstom S.A. (France)
• Wabtec Corporation (U.S.)
• Hitachi Ltd. (Japan)
• Toshiba Corporation (Japan)
• Strukton (Netherlands)
• AEG Power Solutions (Germany)
• Turbo Power Systems (England)

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With the advancement in technology from a GTO thyristor module to the IGBT module, there is a significant reduction in energy consumption that leads to a reduction in the life-cycle costs of the locomotive. Additionally, the pressure of locomotive operators to maintain and enhance the railways’ image as the most environmentally friendly mode of transport has forced them to develop technologies such as IGBT module and SiC inverter. Thus, with an increase in the need for energy-efficient solutions, weight reduction, and power loss reduction while changing the state of current from Ac to DC there has been an increase in the demand for transmission based modules.

Due to the increasing need for the development of energy-efficient solutions for power conversion systems, there have been advancements in traction motors, which is driving the demand for energy-efficient traction motors. The increase in the demand for traction motors can be attributed to the benefits offered such as weight reduction and decreased fuel consumption.

Target Audience

• Manufacturers of rolling stock
• Manufacturers of rolling stock power conversion components
• Raw material suppliers for rolling stock or their power conversion components
• Transport authorities
• Legal and regulatory authorities
• Fleet operators

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