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Railway Propulsion System Market: Introduction

  • Railway propulsion system is a combination of components such as converters, motors, transformers, and others, which provide the tractive force required to propel the train along a specified route within a targeted time.
  • The railway is an important national infrastructure and means of mass transportation, which is of vital importance for the economic and social development of a nation. Hence, countries are consistently investing in expansion and upgrade of their railway fleet and network, which in turn is driving the global railway propulsion system market.

Key Drivers of Railway Propulsion System Market

  • Natural increase in population is hindering the income opportunities in rural areas, and more number of people are migrating towards urban areas in search of better income opportunities, better education, and better living standards. Rise in urbanization and size of cities has boosted the number of on-road vehicles. These high number of vehicles create traffic congestion, environmental pollution, and also drive the number of accidents. The World Health Organization stated in February 2020 that 1.35 million die every year, globally, in road traffic accidents. Consequently, public transportation such as sub-urban railways, metros, and trams, are witnessing high number of passengers, as they offer a cost-effective and safe alternative to owning a private vehicle. Governments and civic authorities are increasing their fleet of railways and expanding its network to cater to this rise number of passengers. This is fueling the railway propulsion systems market across the globe.
  • Expansion of networks of metropolitan regions with shared economies coupled with a rise in consumer demand has increased trade activities around the world. In October 2019, the World Trade Organization stated that trade volume is anticipated to accelerate at 2.7% in 2020. Railways transport more than 28% of the total freight across the U.S. per year. Hence, governments are constructing dedicated railroads for freight transport and increasing their fleet of railways to reduce the waiting periods. This rise in number of railways owing to an increase in trade activities is fueling the global railway propulsion system market.

Challenges in Railway Propulsion System Market

  • Railway propulsion systems are rapidly transforming due to integration of electronic components. This transformation has its own advantages as well as disadvantages. The sudden change in the fundamental design of propulsion systems causes technical complications in maintenance and operation of these systems and also increases the cost of the entire system, which in turn hampers the global railway propulsion system market.

Impact of COVID-19 pandemic on Railway Propulsion System Market

  • The COVID-19 pandemic negatively impacted most industries across the globe. However, governments increased the pace of railway infrastructure construction and several new railroads were constructed during the pandemic. This had a positive effect on the railway propulsion system market.

Opportunities in Railway Propulsion System Market

  • Railway propulsion systems are being made more efficient, smaller, and lighter, with higher performance and reliability, due to advances in power devices; a core technology for power electronics. Multiple ways of achieving miniaturization include using low-loss power devices made from silicon carbide (SiC), a new semiconductor, the adoption of highly efficient induction motors, and improvements to their control technology. A newly developed SiC inverter from Hitachi features a 40% reduction in weight and a 40% reduction in volume. These new-generation power electronic components are anticipated to transform the railway propulsion systems the near future and hence, offer significant opportunity for industry participants in the railway propulsion system market.

Asia Pacific to hold significant share of global railway propulsion system market

  • Based on geography, Asia Pacific held a significant share of the global railway propulsion system market in 2020. This high share is attributable to expansion of the rail network, rise in locomotive production, and high number of passengers carried by railways in China, India, and other countries across the region. Moreover, the Indian Railways is upgrading its electric locomotives from 6,000 HP to 9,000 HP, as part of its rail electrification initiative, and Siemens Ltd is providing the new propulsion systems to Indian Railways. These, on-going upgrade of locomotive fleets further boost the railway propulsion system market in Asia Pacific.

Key Players Operating in Railway Propulsion System Market

The global railway propulsion system market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the railway propulsion system market are:

  • ABB
  • Alstom
  • CAF Power & Automation.
  • Hitachi, Ltd
  • Infineon Technologies AG
  • Ingeteam Power Technology
  • Medha Servo Drives Private Limited
  • Texas Instruments Incorporated  
  • Voith GmbH & Co. KGaA
  • Siemens Ltd

Global Railway Propulsion System Market: Research Scope

Global Railway Propulsion System Market, by Type

  • Electric Traction Systems
  • AC Electrification System
  • DC Electrification System
  • Composite System
  • Diesel
  • Others (Steam, CNG, Battery, etc.)

Global Railway Propulsion System Market, by Component

  • Traction Converters
  • Traction Alternators
  • Traction Motors
  • Auxiliary Converters
  • Transformers
  • Others

Global Railway Propulsion System Market, by Railway Type

  • Passenger
  • High-speed railways
  • Metro/ Subway
  • Trams
  • Suburban
  • Monorail
  • Freight

Global Railway Propulsion System Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Railway Propulsion System Market