Hybrid Train Market Size Worth $22.8 Billion By 2030 | CAGR: 5.89%

The global hybrid train market size is expected to reach USD 22.8 billion by 2030, according to a new study by Polaris Market Research. The report “Hybrid Train Market Share, Size, Trends, Industry Analysis Report, By Propulsion Type (Electro-Diesel, Battery Operated, Hydrogen-Powered, Gas Powered, and Solar Powered); By Application; By Operating Speed; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising demand for shifting energy and power source from conventional fossil fuels towards renewable, alternative sources of fuel is expected to support the growth of hybrid trains.

Factors such as increases in fuel prices, strict regulation by environmental regulatory authorities to reduce carbon footprint along with demand for energy-efficient alternatives are responsible for the increasing need for hybrid trains in the market. For instance, according to an article published by the VOA, September 2022 reported a sharp increase in fuel prices of up to 30% in Indonesia. The country’s subsidy crossed USD 34 billion from its original energy budget, due to which it had to raise oil prices.

Hybrid trains offer a reasonable alternative causing a preferential shift from conventional trains to hybrid-powered locomotives. For instance, in September 2022, Progress Rail announced its agreement with Rumo, a Brazilian railway, and logistics company. The development ensures two units of diesel-battery-electric trains for freight applications. The features provide the operator with convenience and ease of utility compared to conventional trains. This is anticipated to support the adoption and growth of the market.

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Moreover, key advantages offered by hybrid train technology, such as Magnetic Levitation (MAGLEV), among others, promote the adoption of these technologies among industry stakeholders and thereby support the growth of the market. The market is innovation-driven, with key manufacturers focusing on collaborations with hybrid technology developers to build and innovate unsullied technological systems, enabling themselves with a competitive moat in the market.

Hybrid Train Market Report Highlights

• Battery operated segment is anticipated to grow at the highest CAGR over the forecast period owing to its cost-effectiveness, clean fuel power source, higher operating speeds and requires less frequent maintenance.
• Freight segment accounted for a major revenue share owing to increasing demand of supply chain and logistics globally along with lower cost of freight through trains as compared to other modes of transport.
• More than 200 km/hr sector is expected to hold a significant market share over the forecast period due to pre-funded projects by key governments with a view to establishing innovative railway infrastructure, enabling high-speed trains in this segment.
• North America is expected to grow at a rapid pace over the projected period on account of the increasing acceptance of electro-diesel hybrid trains by industry stakeholders combined with product diversity offered by manufacturers, such as electric trains equipped with regenerative braking, among others.
• The global players Hyundai Rotem, Kawasaki Heavy, Alstom, Ballard Power Systems, Siemens, Stadler Rail, Toshiba Corp., Bombardier, China Railway Rolling Stock, and Wabtec Corporation.

Polaris Market Research has segmented the hybrid train market report based on propulsion type, application, operating speed and region:

Hybrid Train, Propulsion Outlook (Revenue - USD Billion, 2018 - 2030)

• Electro-Diesel
• Battery Operated
• Hydrogen Powered
• Gas Powered
• Solar Powered

Hybrid Train, Application Outlook (Revenue - USD Billion, 2018 - 2030)

• Passenger
• Freight

Hybrid Train, Operating Speed Outlook (Revenue - USD Billion, 2018 - 2030)

• Less than 100 km/hr
• 100-200 km/hr
• More than 200 km/hr

Hybrid Train, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa