Transparency Market Research in its new report titled, “Power Conversion Unit Market for Locomotive - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the power conversion unit market for locomotive market. The TMR report anticipates that the expansion of the railway network and increased awareness about public transport will drive the power conversion unit market for locomotive market during the forecast period i.e, 2018-2026.

Increased urbanization driven by investments in infrastructure and development of industrial and commerce zones have fuelled the need of transit, thus driving the locomotive industry and in turn the power conversion unit market for locomotive, says the report. Expansion of rail networks in developing countries and rising concerns about emission are prompting several consumers to utilize a public mode of transport such as locomotives. This, in turn, is boosting the power conversion market for locomotive. The transport of freight by rail is less time consuming and cost effective over road freight transport. Europe has wide interstate rail network that is used for freight transport. The increase in rail freight transport is projected to boost the locomotive market and thus boost the demand for power conversion units. The high price of power conversion equipment is a restraining factor for the growth of the market.

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The report has split the global power conversion unit market for locomotive based on component, locomotive, technology, and region. In terms of component, the power conversion unit market for locomotive is divided into five segments. Among them, the traction motor and rectifier are two of the power conversion unit segments. The traction motor are used in electric multiple units and electric locomotives. Increased preference for an electric multiple unit is estimated to drive the power conversion unit market for locomotive. Based on locomotive, the global power conversion unit market for locomotive can be segregated into four segments. Electric multiple unit and diesel locomotive are the prominent segments of the power conversion market for locomotive. Increased freight transport by rail is estimated to drive the diesel locomotive segment.

Based on technology, the power conversion unit market for locomotive is categorized into three segments. The IGBT (Insulated gate bipolar transistor) technology is estimated to expand at a significant growth rate in the near future. The IGBT module have witnessed increased usage in power conversion, as it replaces the inverter technology. Demand for IGBTs is high as they operate at high currents and have high switching frequency. From a geographical perspective, the power conversion unit market for locomotive is split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a leading market for power conversion for locomotives, owing to the high use of railways in India & China. Major players operating in the region include Bombardier, ABB Ltd., Bharat Heavy Electricals Limited, Hitachi Ltd, CRRC Corporation China, Alstom S.A., Toshiba Corporation, Turbo Power Systems, and AEG Power Solutions.

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