Aim to reduce traffic congestion, growing demand for energy efficient transport mode will drive the market at a high CAGR during the forecast period.
The hybrid train market was valued at 5,389 (by units) in 2018 and is expected to reach 8,152 units by the year 2026, at a CAGR of 5.3% CAGR during the forecast period (from 2018-2026). The hybrid train market is heavily influenced by driving factors such as public transport as a means of reducing traffic congestions, growing demand for energy-efficient transport and increasing demand for comfort and safety boosts the market growth. However, the refurbishment of existing trains and the capital-intensive nature of passengers is impacting negatively on the growth of this market in the current market scenario.
Hybrid trains have gained popularity in recent years due to their energy efficiency and reduced environmental impact. They combine the benefits of traditional diesel or electric trains with the added advantage of energy storage systems. These systems can capture and store energy generated during braking and use it later to power the train, reducing energy consumption and emissions.
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Hybrid trains are also seen as a solution to reduce traffic congestion in urban areas. As more people migrate to cities, the demand for public transport is increasing, and hybrid trains offer a cleaner and more efficient alternative to traditional modes of transportation. They also provide a more comfortable and safer travel experience for passengers.
However, the hybrid train market faces challenges related to the refurbishment of existing trains and the high capital investment required for new train purchases. Retrofitting older trains with hybrid technology can be costly, and the process may require significant downtime for maintenance and upgrades. Additionally, the high initial cost of purchasing new hybrid trains can be a barrier to entry for many operators.
Competitive Landscape:
Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Keyword market:
CRRC, Bombardier, Alstom, Kawasaki Heavy Industries, Siemens AG, General Electric, Hyundai Rotem, Hitachi, Construcciones Y Auxiliar De Ferrocarriles (CAF), Cummins and others
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The global market is further segmented into type and application:
Hybrid Train Market by Propulsion Type (Revenue, USD Million; 2016–2026)
- Battery Operated
- CNG
- Electro-Diesel
- LNG
- Hydrogen
- Solar Powered
Hybrid Train Market by Application Type (Revenue, USD Million; 2016–2026)
- Freight
- Passenger
Hybrid Train Market by Operating Speed (Revenue, USD Million; 2016–2026)
- Below 100 km/hr
- 100-200 km/hr
- Above 200 km/hr
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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