Electric Locomotive Engines Market Projected to Expand at a CAGR of 8.8% from 2022 to 2030, According to Contrive Datum Insights – Yahoo Finance
Contrive Datum Insights Pvt Ltd
According to a market research study published by Contrive Datum Insights, North America use technology and automation, the region is the global market leader, European emission standards impose stringent restrictions on the usage of diesel locomotive engines
Farmington, Jan. 30, 2023 (GLOBE NEWSWIRE) — The Global Electric Locomotive Engines Market is expected to grow at a CAGR of 8.8% from 2023 to 2030. An electric locomotive engine is an electric motor that propels a train. Since the middle of the 20th century, electric locomotive engines have undergone significant transformations. Diesel locomotive engines have a poorer power-to-weight ratio than their electric counterparts. Additionally, electric locomotives can travel more quickly and haul more weight up steep gradients.
Request Sample Copy of Report “Electric Locomotive Engines Market – Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Electric engines are replacing traditional engines such as diesel engines because people throughout the world are increasingly worried about pollution and desire systems that consume less energy and do not pollute. The Environmental Protection Agency (EPA) of the United States has mandated that diesel engines release less nitrogen oxide. Consequently, the need for electric locomotive engines is increasing.
Electric Locomotive Engines Market Recent Developments:
In April 2021, Alstom, India’s biggest multinational sustainable mobility provider with a comprehensive portfolio of offerings, has successfully manufactured and delivered the 100th electric locomotive to Indian Railways.
In November 2015, GE said it would spend $200 million to build and sell 1,000 diesel locomotives to Indian Railways. The Ministry of Railways gave the company a Letter of Award for a contract to supply and maintain locomotives.
In August 2008, Bombardier Transportation announced that it had signed two contracts to give the New Jersey Transit Corporation (NJ TRANSIT) and the Agence Metropolitaine de Transport (AMT) in Montreal a total of 46 dual-powered passenger locomotives.
Electric Locomotive Engines Market Segmentation Analysis:
The market for electric locomotive engines can be segmented based on how power is delivered, the level of automation, the kind of power, the components, and the distribution channels. The market can be divided into three categories based on the method of energy delivery. The most prevalent method of powering an electric locomotive engine is via an overhead power line.
The market for electric locomotive engines can be divided into two categories based on the type of energy they utilise. DC motors have a high starting torque, which allows them to travel quicker initially regardless of the load. AC power is compatible with DC motors. Therefore, DC-powered electric locomotive engines dominate the market.
Geographically, the market for electric …….