The global locomotive market size is calculated at USD 26.25 billion in 2025 and is forecasted to reach around USD 60.59 billion by 2034, accelerating at a CAGR of 9.74% from 2025 to 2034. The North America market size surpassed USD 8.13 billion in 2024 and is expanding at a CAGR of 9.90% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
3.1. Market Snapshot
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
5.1. COVID-19 Landscape: Locomotive Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
8.1. Locomotive Market Revenue and Volume Forecast, by Type
8.1.1. Diesel
8.1.1.1. Market Revenue and Volume Forecast
8.1.2. Electric
8.1.2.1. Market Revenue and Volume Forecast
8.1.3. Other
8.1.3.1. Market Revenue and Volume Forecast
9.1. Locomotive Market Revenue and Volume Forecast, by Technology
9.1.1. IGBT Module
9.1.1.1. Market Revenue and Volume Forecast
9.1.2. GTO Thyristor
9.1.2.1. Market Revenue and Volume Forecast
9.1.3. SiC Power Module
9.1.3.1. Market Revenue and Volume Forecast
10.1. Locomotive Market Revenue and Volume Forecast, by Component
10.1.1. Rectifier
10.1.1.1. Market Revenue and Volume Forecast
10.1.2. Inverter
10.1.2.1. Market Revenue and Volume Forecast
10.1.3. Traction Motor
10.1.3.1. Market Revenue and Volume Forecast
10.1.4. Alternator
10.1.4.1. Market Revenue and Volume Forecast
10.1.5. Auxiliary Power Unit (APU)
10.1.5.1. Market Revenue and Volume Forecast
10.1.6. Others
10.1.6.1. Market Revenue and Volume Forecast
11.1. Locomotive Market Revenue and Volume Forecast, by End Use
11.1.1. Freight
11.1.1.1. Market Revenue and Volume Forecast
11.1.2. Passengers
11.1.2.1. Market Revenue and Volume Forecast
11.1.3. Switcher
11.1.3.1. Market Revenue and Volume Forecast
12.1. North America
12.1.1. Market Revenue and Volume Forecast, by Type
12.1.2. Market Revenue and Volume Forecast, by Technology
12.1.3. Market Revenue and Volume Forecast, by Component
12.1.4. Market Revenue and Volume Forecast, by End Use
12.1.5. U.S.
12.1.5.1. Market Revenue and Volume Forecast, by Type
12.1.5.2. Market Revenue and Volume Forecast, by Technology
12.1.5.3. Market Revenue and Volume Forecast, by Component
12.1.5.4. Market Revenue and Volume Forecast, by End Use
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Volume Forecast, by Type
12.1.6.2. Market Revenue and Volume Forecast, by Technology
12.1.6.3. Market Revenue and Volume Forecast, by Component
12.1.6.4. Market Revenue and Volume Forecast, by End Use
12.2. Europe
12.2.1. Market Revenue and Volume Forecast, by Type
12.2.2. Market Revenue and Volume Forecast, by Technology
12.2.3. Market Revenue and Volume Forecast, by Component
12.2.4. Market Revenue and Volume Forecast, by End Use
12.2.5. UK
12.2.5.1. Market Revenue and Volume Forecast, by Type
12.2.5.2. Market Revenue and Volume Forecast, by Technology
12.2.5.3. Market Revenue and Volume Forecast, by Component
12.2.5.4. Market Revenue and Volume Forecast, by End Use
12.2.6. Germany
12.2.6.1. Market Revenue and Volume Forecast, by Type
12.2.6.2. Market Revenue and Volume Forecast, by Technology
12.2.6.3. Market Revenue and Volume Forecast, by Component
12.2.6.4. Market Revenue and Volume Forecast, by End Use
12.2.7. France
12.2.7.1. Market Revenue and Volume Forecast, by Type
12.2.7.2. Market Revenue and Volume Forecast, by Technology
12.2.7.3. Market Revenue and Volume Forecast, by Component
12.2.7.4. Market Revenue and Volume Forecast, by End Use
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Volume Forecast, by Type
12.2.8.2. Market Revenue and Volume Forecast, by Technology
12.2.8.3. Market Revenue and Volume Forecast, by Component
12.2.8.4. Market Revenue and Volume Forecast, by End Use
12.3. APAC
12.3.1. Market Revenue and Volume Forecast, by Type
12.3.2. Market Revenue and Volume Forecast, by Technology
12.3.3. Market Revenue and Volume Forecast, by Component
12.3.4. Market Revenue and Volume Forecast, by End Use
12.3.5. India
12.3.5.1. Market Revenue and Volume Forecast, by Type
12.3.5.2. Market Revenue and Volume Forecast, by Technology
12.3.5.3. Market Revenue and Volume Forecast, by Component
12.3.5.4. Market Revenue and Volume Forecast, by End Use
12.3.6. China
12.3.6.1. Market Revenue and Volume Forecast, by Type
12.3.6.2. Market Revenue and Volume Forecast, by Technology
12.3.6.3. Market Revenue and Volume Forecast, by Component
12.3.6.4. Market Revenue and Volume Forecast, by End Use
12.3.7. Japan
12.3.7.1. Market Revenue and Volume Forecast, by Type
12.3.7.2. Market Revenue and Volume Forecast, by Technology
12.3.7.3. Market Revenue and Volume Forecast, by Component
12.3.7.4. Market Revenue and Volume Forecast, by End Use
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Volume Forecast, by Type
12.3.8.2. Market Revenue and Volume Forecast, by Technology
12.3.8.3. Market Revenue and Volume Forecast, by Component
12.3.8.4. Market Revenue and Volume Forecast, by End Use
12.4. MEA
12.4.1. Market Revenue and Volume Forecast, by Type
12.4.2. Market Revenue and Volume Forecast, by Technology
12.4.3. Market Revenue and Volume Forecast, by Component
12.4.4. Market Revenue and Volume Forecast, by End Use
12.4.5. GCC
12.4.5.1. Market Revenue and Volume Forecast, by Type
12.4.5.2. Market Revenue and Volume Forecast, by Technology
12.4.5.3. Market Revenue and Volume Forecast, by Component
12.4.5.4. Market Revenue and Volume Forecast, by End Use
12.4.6. North Africa
12.4.6.1. Market Revenue and Volume Forecast, by Type
12.4.6.2. Market Revenue and Volume Forecast, by Technology
12.4.6.3. Market Revenue and Volume Forecast, by Component
12.4.6.4. Market Revenue and Volume Forecast, by End Use
12.4.7. South Africa
12.4.7.1. Market Revenue and Volume Forecast, by Type
12.4.7.2. Market Revenue and Volume Forecast, by Technology
12.4.7.3. Market Revenue and Volume Forecast, by Component
12.4.7.4. Market Revenue and Volume Forecast, by End Use
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Volume Forecast, by Type
12.4.8.2. Market Revenue and Volume Forecast, by Technology
12.4.8.3. Market Revenue and Volume Forecast, by Component
12.4.8.4. Market Revenue and Volume Forecast, by End Use
12.5. Latin America
12.5.1. Market Revenue and Volume Forecast, by Type
12.5.2. Market Revenue and Volume Forecast, by Technology
12.5.3. Market Revenue and Volume Forecast, by Component
12.5.4. Market Revenue and Volume Forecast, by End Use
12.5.5. Brazil
12.5.5.1. Market Revenue and Volume Forecast, by Type
12.5.5.2. Market Revenue and Volume Forecast, by Technology
12.5.5.3. Market Revenue and Volume Forecast, by Component
12.5.5.4. Market Revenue and Volume Forecast, by End Use
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Volume Forecast, by Type
12.5.6.2. Market Revenue and Volume Forecast, by Technology
12.5.6.3. Market Revenue and Volume Forecast, by Component
12.5.6.4. Market Revenue and Volume Forecast, by End Use
13.1. AEG Power Solutions B.V.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Alstom
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Bharat Heavy Electricals Limited
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. CRRC Corporation Limited
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Hitachi, Ltd.
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Mitsubishi Heavy Industries, Ltd.
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Siemens AG
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Strukton
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Toshiba Corporation
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Wabtec Corporation
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
15.1. About Us
15.2. Glossary of Terms
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