“Locomotive Market by Power Conversion Components (Rectifier, Inverter, Alternator, APU & Traction Motor), Technology (IGBT module, GTO Thyristor Module & SiC Module), Rolling Stock Type, and by Region – Global Trends and Forecast to 2021″, The Locomotive market for power conversion systems is projected to grow at a CAGR of 2.92%, to reach a market size of USD 4.27 billion by 2021. A major factor driving the growth of the locomotive market for power conversion systems is rapid urbanization in emerging economies. In view of the rapid growth in urbanization and industrialization, the need for power and conversion systems is anticipated to increase during the forecast period. Moreover, this will require a substantial increase in power generation capacity and in turn infrastructure investments in this segment.
“Increase in need for energy efficient technologies will give rise to the demand for IGBT power modules”
The market for IGBT power modules is anticipated to gradually replace the market for GTO Thyristor modules, owing to the advantages offered in terms of efficiency and power density, and the ability to provide more power in a smaller space.
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Players’ profiled in the report are:
- Aisen Seiki Company Ltd. (Japan),
- ZF TRW (Germany),
- Borgwarner Inc. (U.S.),
- Continental AG (Germany),
- Magna International Inc. (Getrag) (U.S.),
- Eaton Plc. (Republic of Ireland),
- Jatco Ltd. (Nissan) (Japan),
- Allison Transmission Inc. (U.S.),
- GKN PLC. (U.K.),
- Schaeffler AG (Germany)
The traction motor is the fastest growing segment among locomotive power conversion components”
Due to the increasing need for the development of energy efficient solutions for power conversion systems, there have been advancements in traction motors, which is driving the demand for energy efficient traction motors. The increase in the demand for traction motors can be attributed to the benefits offered such as weight reduction and decreased fuel consumption.
“Asia-Pacific: Fastest-growing market for locomotive market for power conversion systems”
The Asia-Pacific is estimated to dominate the locomotive market for power conversion systems and is projected to grow at the highest CAGR during the forecast period. This growth can be credited to improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. The sizeable populations in countries such as China and India have resulted in an increase in the need for public transport, which in turn has resulted in an increase in the number of government rail projects.