Global Hybrid Train Market: Overview
The first high speed hybrid train was introduced in Europe in 2018. As per studies, such trains can reduce harmful emissions by 50%.
The hybrid train technology is developed by Japan’s multinational conglomerate company, Hitachi.. According to the company, the train is equipped with an engine which is powered by battery-assisted diesel-electric machines. Governments across the globe are making investments to improve and develop their railway infrastructure. This increasing investment will make way for opportunities for the market players who are operating the hybrid train market. Opportunities such as these can expand their geographical presence along with streaming their revenue.
According to the Association of American Railroads, in 2009, during the Great Recession, the large freight railway traffic was going down by 19%. And now, after a decade the railroads have become more fuel-efficient for freight. The North American market is more into railway freight transportation, while the European market is more likely to experience gradual development in terms of passenger transits.
Global Hybrid Train Market: Notable Developments
- On May 2015, East Japan Railway Company introduced the HB-E210 series train runs on Senseki-T?hoku Line services.
- In 2013, Sinara transport machines developed the TEM9H, a hybrid version of its TEM9 series train, at its Lyudinovsky Locomotive Plant.
- In August 2018, Siemens launched a new Vectron Dual Mode train. This can be operated both as a diesel and an electric engine.
There are some major market players who are operating in the global hybrid train such as Alstom, Bombardier Inc, CRRC, Kawasaki, and Siemens. These enterprises have a robust network of distribution across the globe. Furthermore, these organizations provide a wide range of products in the hybrid train market. These enterprises implement strategies such as contracts & agreements, new product advancements, and collaborations to maintain the market’s position.
Global Hybrid Train Market: Drivers & Restraints
Hybrid trains are useful due to the reduction of NOx emission, noise level, and less fuel consumption. Thanks to these advantages, the global hybrid train market is likely to grow in the forthcoming years. Growing demand for public transit in order to reduce traffic congestion along with energy efficient transport are major factors influencing the global hybrid train market positively. Furthermore, commuters demand for public transportation is more reliable and environment friendly option. Also, hybrid train technology is a highly cost-effective substitute to public transits.
However, high maintenance and repair expenses may hamper the global hybrid train market growth in the forthcoming years. Nevertheless, hybrid trains are emitting less carbon and due to which demand is high and is likely to drive the market in the near future.
Global Hybrid Train Market: Regional Analysis
The Asia Pacific area is assessed to be the quickest developing market. The Asia Pacific involves rising economies, for example, China and India alongside created economies like Japan. The Asia Pacific is the biggest market for the rail business. Infrastructural advancements and industrialization in the developing economies have opened new ways, making a few prospects for OEMs. The usage of new advancements and the foundation of new government guidelines are driving this market in this economy.
The market development in the economy can be due to the growing demand for energy efficient transportation system. China's quickly developing economy is driving the extension of cutting-edge innovation train system to improve transport frameworks in the nation India's monetary development and quickly developing populace have made it basic for the nation to upgrade its open transportation framework. A CNG train has started in north India in 2015. In Europe, Germany is evaluated to be the biggest regional hybrid train market.
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