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Global Trends and Forecast Locomotive Market

  • Date Submitted: 09/07/2016 02:12 AM
  • Flesch-Kincaid Score: 32.1 
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Bharatbook.com announces a report on “Locomotive Market by Power Conversion Components, Technology, Rolling Stock Type, and by Region - Global Trends and Forecast to 2021”. The increase in the demand for traction motors can be attributed to the benefits offered such as weight reduction and decreased fuel consumption. https://www.bharatbook.com/automotive-market-research-reports-782792/locomotive-power-conversion-components-technology-type-region-global-trends-forecast.html

Increased rail infrastructure investment and technological advancement, are expected to fuel the demand for power conversion systems

The Locomotive Market for power conversion systems is projected to grow at a CAGR of 2.92%, to reach a market size of USD 4.27 billion by 2021. Major factor driving the growth of the locomotive market for power conversion systems is rapid urbanization in emerging economies. In view of the rapid growth in urbanization and industrialization, the need for power and conversion systems is anticipated to increase during the forecast period. Moreover, this will require a substantial increase in power generation capacity and in turn infrastructure investments in this segment.

Increase in need for energy efficient technologies will give rise to demand for IGBT power modules

The market for IGBT power modules is anticipated to gradually replace the market for GTO Thruster modules, owing to the advantages offered in terms of efficiency and power density, and the ability to provide more power in a smaller space.

Traction motor is the fastest growing segment among locomotive power conversion components

Due to increasing need for development of energy efficient solutions for power conversion systems, there have been advancements in traction motors, which is driving the demand for energy efficient traction motors. The increase in the demand for traction motors can be attributed to the benefits offered such as weight reduction and decreased fuel consumption....

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