Persistence Market Research has announced the addition of the “Electric Locomotive Engines Market: Global Industry Analysis and Opportunity Assessment, 2017-2025"report to their offering.
New York, NY -- (SBWIRE) -- 12/27/2017 -- Global Electric Locomotive Engines Market: Introduction
An electric locomotive engine is an engine that drives the rail vehicle and is powered by electricity. Electric locomotive engines have witnessed significant evolution since the middle of the 20th century. Electrically driven locomotive engines receive higher power to weight ratio as compared to diesel engine. Electric locomotive engines also obtain faster acceleration and greater tractive efforts on steep gradients. Traditional engines, such as diesel engines, are being replaced by electric engines due to growing global concern regarding and preference for pollution free and energy efficient systems. Various mandatory regulations issued by the Unites states Environmental Protection Agency (EPA) regarding reduction in nitrogen oxide emissions from diesel engines is propelling the demand for electric locomotive engines. Rising concerns regarding carbon dioxide emission from fuel consumption in transportation segment is leading to increasing demand for electric locomotive engines. For freight transportation through railways, electric locomotive engines are becoming popular at a significant pace. Owing to their attractive features and advantages, the demand for electric locomotive engines is anticipated to witness significant growth during the forecast period.
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Global Electric Locomotive Engines Market: Dynamics
Increasing demand for technologies that reduce locomotive emissions, which is significantly contributing to air pollution, is one of the key drivers for the global electric locomotive engine market. Stringent emission norms, such as Tier II pollution standards regarding diesel locomotive engines, are also expected to fuel the demand for electric locomotive engine market during the forecast period. Growing railway connectivity with increasing government expenditure on comfort for public transport is expected to increase the demand for locomotives, which in turn, is anticipated to propel the demand for electric locomotive engines during the forecast period.
There are certain challenges in the electric locomotive engine market which the manufacturers have to face. The electric locomotive engines costs significantly higher for long distance routes managing lesser traffic. Similarly, increasing preference for road transport for passenger mobility may also influence the growth of the electric locomotive engines market.
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The emerging dual mode technology in locomotive engines and preference towards autonomous locomotive engines for longer routes is an ongoing trend across the globe
Global Electric Locomotive Engines Market: Regional Outlook
With the growing transportation industry, the volume of freight to be transported is also increasing significantly across the globe, which in turn, is creating a significant demand in the electric locomotive engine market. Stringent norms by environmental protection agencies on diesel locomotive engines to meet Tier II, III and IV standards is leading to a general inclination towards electric locomotive engines in the North American region. European emission standards impose strict regulations regarding the use of diesel locomotive engines, which is expected to drive the market for electric locomotive engines during the forecast period. The growing railway industry in the Asia pacific region is anticipated to propel the demand for electric locomotive engines in the coming years. Significant investments in various new railway projects in various countries of Latin America will lead to substantial growth in the electric locomotive engine market. Transportation through railway has witnessed substantial growth in the Middle East and Africa region, which in turn, is driving the demand for electric locomotive engines.
Global Electric Locomotive Engines Market: Key Participants
Examples of some of the market participants identified across the value chain of the global electric locomotive engine market include:
Bharat Heavy Electricals Limited
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