Locomotive Market 2018 Global Forecast To 2023 Research Report

Posted by Abhijeet Bendre on October 16th, 2018

Locomotive Market 2018 Global Industry Analysis To 2023, is latest research report on Global Locomotive Market Size, Share, Trends, Growth, and Regional Forecast. Report provides Locomotive Global Market Historic, Forecast data, business development strategies, SWOT analysis, And Key Company Insights with forecast to 2023.

Market Highlights:

Market Research Future (MRFR) has projected in its latest report that the global Locomotive market is set to grow at a moderate pace during the forecast period. The growth of the automotive sector is passively poised to encourage the expansion of the market over the next couple of years.

The global locomotive market was significantly affected by the economic downturn in 2008-2010. Many operators chose to rehabilitate old locomotives instead of acquiring new ones. Companies such as Alstom or Siemens signed valuable contracts with the national Russian operator RZD.

Product innovation and a widespread need for fleet renewal will drive the electric locomotive market. An increasing trend towards local suppliers is evident in Eastern Europe. New electric locomotive manufacturers with their production facilities include Pesa and ZNLE in Poland, the Czech manufacturer Skoda, and Tülomsas in Turkey.

For more information visit: https://www.marketresearchfuture.com/reports/locomotive-market-1889

The Asia-Pacific region is estimated to dominate the locomotive market and is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the improving socio-economic conditions in developing countries such as China, India, Indonesia, and Thailand. The increased populations in countries such as China and India has resulted in increase in need for public transport, which in turn results in an increase in the number of government rail projects.

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