The railway generator market size is likely to thrive at an average CAGR of 5.0% during the forecast period. The market is anticipated to cross a market share of USD 3,257.4 Million by 2033 while it holds a value of USD 1,999.8 Million in 2023.
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 1,999.8 Million |
| Market Forecast Value in 2033 | USD 3,257.4 Million |
| Global Growth Rate 2023 to 2033 | 5.0% CAGR |
| Forecast Period | 2023 to 2033 |
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explains that transforming railway structures all around the world along with advanced generators with cheap and sustainable performance is fueling the demand for railway generators.
The rising number of trains and expanding railway networks have pushed railways around the world to adopt these advancements. Thus, the replacement of self-power generation generators with HOG and EOG systems has made trains more advanced and faster.
Furthermore, the LHB coaches in the trains have been discarded due to high load and higher energy consumption. Therefore, the new end-of-generation (EOG technology)-based generators have taken place that works with two generator cars on the end of the LHB coaches to produce electricity through the wagons.
Apart from this, HOG (Head of Generation) technology has also become prevalent in non-LHB trains. This whole transformation has provided the railway generator market with steady growth while also inviting technology enthusiasts to brainstorm and produce new ideas. Along with driving travelers to adopt this training style of travel, the booming travel and tour sector and rising airfares have increased railroad income. High government investment in the development of railways including the introduction of bullet trains that require generators for better power supply.
Expansion of rural railroads including trains, trams, and inter-city has consumed enough share of the railway generators market. This includes the adoption of different generator types according to the requirement.
The increased business activities along with the railway being the cheapest means of logistical operations have fueled the demand for railway generators in the forecast period. FMI’s railway generators market outlook states that the steam generator is another example of a railway generator that produces steam for climate control and potable water heating for creating engine pressure.
Though, these engines can be found rarely. Surging demand for sustainable energy and green logistics has led to the current application of locomotive generators where the direct current is converted into three-phase alternating current that further powers the traction motor. This thrives the demand for railway generators in new regions.
The global Railway generators market was thriving at a CAGR of 3.2% between 2018 and 2022. The comparatively lower CAGR was attributed to the slowdown of research and development programs due to the pandemic and the lack of human power to work on transformative projects. Furthermore, the higher spread of the virus did put a hold on travel and logistic operations.
Thus, the railway generator market slowed down. Though, the market is back on track along with the other railway-centric markets such as the railway system market and the railway market. The railway generators market now thrives at a CAGR of 5.0% and as the EOG and HOG expand their components and advances their technology, the market is expected to thrive higher in the future.
Principal Consultant
The rising demand for railway generators is attributed to three major factors
The transformation of railway systems around the world. New railway systems are set up in rural spaces for expanded connectivity, and sustainable & efficient energy-delivering generators. The first one is typical in most areas where train networks are being replanted when driving wheels and wagons are changing.
Countries invest hugely to change the generators from self-generating systems to EOGs as self-generating ones become heavy on the train engine while also reducing the train’s speed. The new locomotive systems integrating with the power delivery systems have fueled the higher adoption of advanced railway generators to produce electricity for AC coaches. For example, The Indian railway has recently switched from self-generating generators to end-on-generation power cars and HOG systems. This has anticipated saving INR 800 crore every year for the department, expanding the railway generators market size.
The major restraints for the market are the lack of resources and funds to transform the whole railway system with the latest railway generator technology. Furthermore, the shrinking railway routes in some regions due to the easy air connectivity limits the growth of the railway generator market.
The rail type category is divided into segments like locomotives, rail transit vehicles, and railroad cars while railroad cars are further segmented into passenger coaches, and freight wagons. The freight wagon segment is expected to hold the biggest market share at 62.9% during the forecast period. The factors due to its higher traction are the higher applications of freight wagons during the logistical operations.
These wagons with cold storage coaches involve high demand for railway generators globally. The system can accommodate more generators owing to the railway vehicles without power, which increases the demand for these generators in general.
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The USA is expected to hold a share of the market share of 19.4% during the forecast period. The higher market share is attributed to the expanding railway boundaries along with the high-speed trains functioning with a smaller number of halts. Therefore, the demand for a constant flow of energy is required, applying railway generators to the system. These include steam generator to head-end-power generator that delivers electricity used for heating, lighting, and air conditioner.
Germany with its advanced railway tracks follows up on maintenance and develops new halts for the trains. The nation installs railway generators and is likely to hold a market share of 6.0%. This is due to the high number of tourists visiting the country while expanding the railway tracks in the region. Germany has recently introduced the hydrogen-powered train that is followed by the 15 kV AC railway electrification.
India and China both have built their infrastructure and maintain the already developed. While China installs the new tools with 21st-century engines and wagons, India transforms and replaces the conventional self-power generating generators with the HOG and EOG technology for efficient power generation and lighter proportions. India also builds new stations and track roots that connect the central bodies to the remote areas that are not yet connected. This gives a push to the railway generator market. While India at expected to flourish at a CAGR of 6.0% during the forecast period and China thrives at a CAGR of 5.5% between 2023 and 2033.
The United Kingdom focuses on making renewable energy the main source of power generation in railways. The higher number of freight trains is the major factor responsible for the sales of railway generators as freight vehicles consume 62.9% of the global railway generators market. Furthermore, the advanced designed coaches of United Kingdom trains and trams include power generators that fuel the market growth eventually.
The competitors focus on creating advanced generators with better power delivery along with the efficient consumption of resources. Companies also make these generators reliable so that they can work for long hours and have a higher shelf-life. Furthermore, the key players adopt the strategy of acquisition, merger, and other expansionist tricks to strengthen their supply chain.
Recent Market Developments
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Oceania; and Middle East and Africa(MEA) |
| Key Countries Covered | USA, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Argentina, South Africa, and United Arab Emirates(UAE) |
| Key Segments Covered | Generator Type, Power Rating, Applications, and Region |
| Key Companies Profiled | Jenoptik (Germany); Nidec Generator Corporation (the USA); General Electric (the USA); Sulzer Ltd. (Switzerland); ENGIRO GMBH (Germany); and Bharat Heavy Electricals Limited (India); ABB (Switzerland); Ingeteam Traction Systems (the USA); VEM Group (Germany); Kirloskar Electric Company (India); Swiger Coil Systems (the USA) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The railway generators market is anticipated to have a market value of USD 1.99 Billion in 2023.
The USA railway generator market holds a share of 19.4% in the global market.
The demand for railway generators in India is expected to grow at a CAGR of 6.0% between 2023 and 2033.
The railway generators market grew at a CAGR of around 3.2% from 2018 to 2022.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. AC 5.2. DC 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Fuel Type 6.1. Petrol 6.2. Diesel 6.3. Gas 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Auxiliary Power 7.2. HVAC 7.3. Propulsion 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 8.1. Passenger Transportation Vehicles 8.2. Freight Transportation Vehicles 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. Middle East and Africa (MEA) 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. CRRC 17.2. ABB 17.3. Knorr Bremse 17.4. Thermo King 17.5. Mitsubishi Heavy Industries 17.6. Toshiba 17.7. Hitachi 17.8. Strukton 17.9. Woojin Industrial Systems 18. Assumptions & Acronyms Used 19. Research Methodology
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Railway Generators Market
