How Is The Global Electrical Rotating Generator for Locomotive Market defined?
An electrical rotating generator for locomotives refers to a device that converts mechanical energy from the locomotive's engine into electrical energy. These generators are crucial for ensuring the locomotive operates efficiently and provides the necessary power for both propulsion and passenger or freight services.
Electrical Rotating Generator for Locomotive Global Market Report 2024 provides data on the global electrical rotating generator for locomotive market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The electrical rotating generator for locomotive market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Electrical Rotating Generator for Locomotive Market Size Expected To Change, And What Are The Growth Rate Projections?
The market for electrical rotating generators for locomotives has expanded steadily, increasing from $3.08 billion in 2023 to $3.24 billion in 2024, with a CAGR of 5.1%. Growth drivers include increased freight and passenger rail demand, a focus on sustainability and carbon footprint reduction, industrial activity growth, and limited electric infrastructure in some regions. Projections suggest the market will reach $3.98 billion by 2028 at a CAGR of 5.3%, supported by population growth, urbanization, hybrid locomotive adoption, and investments in high-speed rail projects. Key trends include advancements in electrical engineering, hybrid and electric propulsion technologies, infrastructure investment, and partnerships.
Which Drivers Are Accelerating Growth In The Electrical Rotating Generator for Locomotive Market?
The growing investments in high-speed rail projects are set to fuel the growth of the electrical rotating generator market for locomotives. These investments are increasing due to urbanization, congestion on current transport networks, and the need for faster and more efficient intercity travel. Electrical rotating generators play a key role in enhancing energy efficiency and reducing environmental impact in locomotives. In April 2021, the UK’s Office of Rail and Road reported that Network Rail's spending on rail infrastructure increased by approximately $0.95 billion to $14.55 billion in the previous fiscal year. The rising investment in high-speed rail projects is expected to drive the growth of electrical rotating generators for locomotives.
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What Are The Core Segments Of The Global Electrical Rotating Generator for Locomotive Market?
The electrical rotating generator for locomotive market covered in this report is segmented –
1) By Type: Electrically Excited Synchronous Generators, Permanent Excited Synchronous Generators (PMG), Induction Generators
2) By Locomotive Type: Freight Train, Passenger Train, Mixed
3) By Function: Traction Generators, Auxiliary Generators, Axle Generators, Other Functions
4) By Form: Conventional Diesel-Electric Locomotive Engine, Power Packs Under The Locomotive, Hybrid-Electric Locomotive Model With Battery Energy Storage
5) By Installation: New Installation, Retrofit
Which Emerging Trends Are Reshaping The Electrical Rotating Generator for Locomotive Market Size?
In the market for electrical rotating generators for locomotives, companies are advancing technologies like traction generators to improve efficiency, reduce emissions, and enhance performance. Traction generators convert mechanical energy into electrical energy to power locomotives' traction motors. For instance, in August 2023, TMH-Elektrotekh of Novocherkassk, a Russian manufacturer, introduced two prototypes of the Type GTSN-3150 traction synchronous generator for the new Class 3TE30G freight locomotive. These generators boast a higher power output compared to previous models and are capable of powering traction motors, auxiliary systems, and starting diesel engines.
What Is The Largest Region In The Electrical Rotating Generator for Locomotive Market?
Europe was the largest region in the electrical rotating generator for locomotive market in 2023. The regions covered in the electrical rotating generator for locomotive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
