Hybrid train market to grow to US$24 billion by 2030
The consulting agency Spherical Insights with offices in the US and India has released a report on the study of the market for hybrid trains, which predicts its growth from 17 to 24 billion US dollars in the period from 2021 to 2030, writes Railway Supply magazine citing zdmira.
By hybrid trains, Spherical Insights means any rolling stock that uses alternative power sources for traction – diesel locomotives and diesel trains with energy storage, locomotives with a combined drive and natural gas, trains and locomotives powered by hydrogen fuel, powered by traction batteries and even from solar batteries.
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The market will grow at an average of 6% per year, with the largest growth expected in 2024, with a further slowdown in 2025-2027. and their increase from 2028. First of all, such rolling stock will be in demand in large agglomerations, where, due to population growth, the development of rail transport is necessary, however, the highest growth rates are expected in the freight transportation sector.
In Europe, a steady increase in the share of hybrid trains is due to the need to develop passenger traffic, in North America, freight traffic will become a growth driver. According to the authors of the study, alternative traction may be in demand at train speeds up to 200 km/h.
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