The global hybrid train market size is projected to reach 8,389 units by 2030, from an estimated 4,904 units in 2020, at a CAGR of 5.5%

New York, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hybrid Train Market by Propulsion Type, Application, Operating Speed, Battery Technology And Region - Global Forecast to 2030" - https://www.reportlinker.com/p05773624/?utm_source=GNW
5%. Factors such as high gasoline prices, traffic congestion, and greenhouse gas emissions have compelled railway OEMs to explore beyond the use of conventional propulsion systems in trains.

The growing population triggers the global demand for rail vehicles in urban areas, where existing transportation infrastructure is proving to be insufficient.The expansion of infrastructure networks is expected to drive the demand for new rail vehicles.

Increasing investments made by governments across the globe to develop rail system infrastructure are expected to act as an opportunity for hybrid train manufacturers to expand their revenue stream and geographical presence.Countries such as Brazil, Russia, and China are set to witness increased production activity due to increased domestic demand, favorable government support, and cost advantages.

The European hybrid train market is projected to experience steady growth due to the well-developed infrastructure for passenger transit, while the North American market is driven by freight transportation.
However, COVID-19 pandemic is expected to have a severe impact on the hybrid train market.Both the production and sales of new rail vehicles have come to a halt across the globe as the whole ecosystem has been disrupted.

OEMs had to wait until lockdowns were lifted to resume production, which affected their business.Post the pandemic, the demand for new trains will be significantly low, as people will avoid public transport, preferring private vehicles to avoid crowds.

In addition, component manufacturing is also suspended, and small Tier II and Tier III manufacturers could face liquidity issues. The railway industry is highly capital-intensive and relies on frequent financing to continue operations. Thus, the production suspension during the outbreak and lower demand post the pandemic will have an unprecedented impact on hybrid train providers
The hydrogen segment is expected to be the second-fastest propulsion segment in the forecast.
Many industry experts are looking at hydrogen fuel cell-powered train as truly emission-free, noise-free, and efficient trains.In the case of fuel cell-powered trains, the condensed water and steam generated are the only exhaust elements from the operation, making it completely clean and environment-friendly.

Recent developments also indicate that majority of the train manufacturers have identified this and are focusing on developing and testing hydrogen fuel cell-powered trains across the world.Manufacturers are introducing different trains, trams, and locomotives working on hydrogen fuel cells.

For instance, Alstom with Eversholt Rail introduced the first hydrogen fuel cell-powered train in Germany in September 2018, which has been running successfully. Also, at the end of 2019, Foshan city, China, deployed a hydrogen fuel cell-powered tram jointly developed by CRRC Qingdao Sifang and Ballard Power Systems.

Freight segment is expected to be the fastest-growing application segment during the forecast period.
Many companies such as BNSF and DB Cargo are investing in hybrid trains that will be incorporated in freight operations soon, which will increase the overall saving for these companies.For instance, as per a supply contract in January 2020, Toshiba will be delivering 100 diesel-battery hybrid locomotives to DB Cargo.

While DB will be using 50 of these to replace existing shunting locomotives, remaining will be given on lease.With the usage of hybrid locomotives, DB claims 30% saving of energy and around 1 million liter saving of diesel annually.

With all these developments, the freight segment is expected to have significant growth in the forecast. China announced a 3-year plan to increase railway freight transport to 1.1 billion tons until 2020, approximately a 30% increase in the freight volume transported by railway. The growth of freight transportation across the globe will boost the market for hybrid trains. Apart from China, other Asian countries have also focused on hybrid trains as a freight transport medium. For instance, FCHEA member, Hyundai Motor Group, and its subsidiary, Hyundai Rotem, have been developing a hydrogen-powered train with its prototype scheduled to be developed by the end of 2020. According to claims, the train can cover 124 miles between refueling stops, with a maximum speed up to 70 km/h. Thus, the large sales volume of diesel-electric trains in China, South Korea, Japan, and India will help the Asia Oceania region to lead the freight segment of the hybrid train market

Above 200 km/h segment is expected to be the second-fastest operating speed segment in the forecast period.
The evolution in traction systems of trains and innovation in hybrid technologies have propelled advancements in the operating speed range of trains.Due to this factor, the operating speed of hybrid trains has increased exponentially and reached the above 200 km/h mark.

For instance, in August 2020, China declared that it is doubling the length of its high-speed rail lines by 2035, as part of its new blueprint.Under this, there will be almost 70,000 km of lines that will be able to handle trains having operating speeds of more than 250 km/h.

This will surely drive the growth of the above 200 km/h segment in Asia Oceania.As hybrid trains are still in their initial stage, developments in their operating speeds are not taking shape as fast as in conventional trains.

This speed range of high-speed trains is expected to witness exponential growth in the future due to the need for a reduction in commute time and traffic congestion on railway lines. Most of the hybrid trains running in this operating speed range have diesel-electric propulsion.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
• By Company Type: Tier I - 31%, Tier II - 48%, and OEMs - 21%
• By Designation: C Level Executives - 40%, Directors - 35%, and Others - 25%
• By Region: North America - 30%, Europe - 50%, Asia Oceania - 15%, and RoW – 5%

The hybrid train market comprises major companies such as CRRC (China), Bombardier (Canada), Alstom (France), Siemens (Germany), and Wabtec Corporation (US).

Research Coverage:
The market study covers the hybrid train market size and future growth potential across different segments such as by propulsion type, application, operating speed, battery technology (qualitative), and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
• The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall hybrid train market and its subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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