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Locomotive Market Growth Analysis & Forecast Report | 2023-2032

The study claims that the rapid development of railway infrastructure worldwide will strengthen the market outlook over 2023-2032. Investments in railway infrastructure and the expansion of rail networks in various regions are driving the demand for locomotives to meet transportation needs, improve connectivity, and support economic growth.

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Locomotive Market Growth Analysis & Forecast Report | 2023-2032

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  1. Locomotive Market 2023-2032; Growth Forecast & Industry Share Report

  2. Industry Insights • The study claims that the rapid development of railway infrastructure worldwide will strengthen the market outlook over 2023-2032. Investments in railway infrastructure and the expansion of rail networks in various regions are driving the demand for locomotives to meet transportation needs, improve connectivity, and support economic growth. • For instance, in July 2023, Wabtec Corporation inked a multi-year parts contract with PT IMECO (PT Imeco Inter Sarana) to provide comprehensive support to PT KAI (PT Kereta Api Indonesia's) fleet of 150 locomotives. Valued at $190 million, this agreement encompasses the provision of service kits and training to PT KAI, facilitating the streamlined maintenance of their locomotive fleet in the region. This strategic technical assistance enables PT KAI to concentrate on enhancing and extending its passenger and freight transportation services.

  3. The diesel locomotives industry will register commendable growth through 2032. The demand for diesel locomotives is gaining traction due to their reliability, cost-effectiveness, and versatility. Diesel locomotives are well-suited for long-haul freight transportation, providing ample power and fuel efficiency. Moreover, they can operate on non-electrified rail lines, extending their utility. Notable instances include Union Pacific's recent order for 1,000 new diesel-electric locomotives to modernize their fleet, highlighting the enduring appeal of diesel technology in the railway industry. • The passenger locomotives market share will expand substantially through 2032 due to their eco-friendliness, energy efficiency, and the growing preference for sustainable transportation. Electric and hybrid passenger locomotives are not only cleaner but also offer smoother rides, reducing environmental impact. Instances like Amtrak's introduction of new Siemens electric locomotives for its Northeast Corridor routes highlight this trend, as they prioritize electrified rail travel for a more environmentally conscious and comfortable passenger experience, further contributing to their rising popularity.

  4. Regional Analysis North America locomotive industry is experiencing robust growth, driven by increased demand for efficient freight transportation and infrastructure investments. Instances like the Biden administration's focus on rail as part of the infrastructure plan, with a proposed $80 billion investment in Amtrak and rail networks, demonstrate a commitment to bolstering the sector. Additionally, the surge in e-commerce has led to greater reliance on rail freight, further propelling the industry's expansion in the region. • Competitive Analysis • General Electric (GE) Transportation, Siemens Mobility, CRRC Corporation Limited, Alstom, Bombardier Transportation, Wabtec Corporation, Progress Rail (a Caterpillar Company), Electro-Motive Diesel (EMD), Kawasaki Heavy Industries, Hyundai Rotem, Toshiba Railway Systems Division, Stadler Rail, Transmashholding, CAF (Construcciones y Auxiliar de Ferrocarriles), Škoda Transportation

  5. Locomotive Market @ https://www.gminsights.com/industry-analysis/locomotive-market Request for sample of this research report @ https://www.gminsights.com/request-sample/detail/6472 Request for customization: https://www.gminsights.com/roc/6472

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  7. THANK YOU www.gminsights.com

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