Product Code: PM2809
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.
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
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Hybrid Train Market Insights
- 4.1. Hybrid Train - Industry Snapshot
- 4.2. Hybrid Train Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Development of solar power trains
- 4.2.1.2. Increasing prices of fuel
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High development cost
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Hybrid Train Market Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Hybrid Train Market, by Propulsion Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 5.3. Electro-Diesel
- 5.3.1. Global Hybrid Train Market, by Electro-Diesel, by Region, 2018 - 2030 (USD Billion)
- 5.4. Battery Operated
- 5.4.1. Global Hybrid Train Market, by Battery Operated, by Region, 2018 - 2030 (USD Billion)
- 5.5. Hydrogen Powered
- 5.5.1. Global Hybrid Train Market, by Hydrogen Powered, by Region, 2018 - 2030 (USD Billion)
- 5.6. Gas Powered
- 5.6.1. Global Hybrid Train Market, by Gas Powered, by Region, 2018 - 2030 (USD Billion)
- 5.7. Solar Powered
- 5.7.1. Global Hybrid Train Market, by Solar Powered, by Region, 2018 - 2030 (USD Billion)
6. Global Hybrid Train Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 6.3. Passenger
- 6.3.1. Global Hybrid Train Market, by Passenger, by Region, 2018 - 2030 (USD Billion)
- 6.4. Freight
- 6.4.1. Global Hybrid Train Market, by Freight, by Region, 2018 - 2030 (USD Billion)
7. Global Hybrid Train Market, by Operating Speed
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 7.3. Less than 100 km/hr
- 7.3.1. Global Hybrid Train Market, by Less than 100 km/hr, by Region, 2018 - 2030 (USD Billion)
- 7.4. 100-200 km/hr
- 7.4.1. Global Hybrid Train Market, by 100-200 km/hr, by Region, 2018 - 2030 (USD Billion)
- 7.5. More than 200 km/hr
- 7.5.1. Global Hybrid Train Market, by More than 200 km/hr, by Region, 2018 - 2030 (USD Billion)
8. Global Hybrid Train Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Hybrid Train Market Assessment, By Geography, 2018 - 2030 (USD Billion)
- 8.3. Hybrid Train Market - North America
- 8.3.1. North America: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.3.2. North America: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.3.3. North America: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.3.4. Hybrid Train Market - U.S.
- 8.3.4.1. U.S.: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.3.4.2. U.S.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.3.4.3. U.S.: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.3.5. Hybrid Train Market - Canada
- 8.3.5.1. Canada: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.3.5.2. Canada.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.3.5.3. Canada: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.4. Hybrid Train Market - Europe
- 8.4.1. Europe: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.4.2. Europe.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.4.3. Europe: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.4.4. Hybrid Train Market - UK
- 8.4.4.1. UK: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.4.4.2. UK.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.4.4.3. UK: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.4.5. Hybrid Train Market - France
- 8.4.5.1. France: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.4.5.2. France.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.4.5.3. France: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.4.6. Hybrid Train Market - Germany
- 8.4.6.1. Germany: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.4.6.2. Germany.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.4.6.3. Germany: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.4.7. Hybrid Train Market - Italy
- 8.4.7.1. Italy: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.4.7.2. Italy.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.4.7.3. Italy: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.4.8. Hybrid Train Market - Spain
- 8.4.8.1. Spain: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.4.8.2. Spain.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.4.8.3. Spain: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.4.9. Hybrid Train Market - Netherlands
- 8.4.9.1. Netherlands: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.4.9.2. Netherlands.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.4.9.3. Netherlands: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.4.10. Hybrid Train Market - Russia
- 8.4.10.1. Russia: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.4.10.2. Russia.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.4.10.3. Russia: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.5. Hybrid Train Market - Asia Pacific
- 8.5.1. Asia Pacific: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.5.2. Asia Pacific.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.5.3. Asia Pacific: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.5.4. Hybrid Train Market - China
- 8.5.4.1. China: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.5.4.2. China.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.5.4.3. China: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.5.5. Hybrid Train Market - India
- 8.5.5.1. India: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.5.5.2. India.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.5.5.3. India: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.5.6. Hybrid Train Market - Malaysia
- 8.5.6.1. Malaysia: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.5.6.2. Malaysia.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.5.6.3. Malaysia: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.5.7. Hybrid Train Market - Japan
- 8.5.7.1. Japan: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.5.7.2. Japan.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.5.7.3. Japan: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.5.8. Hybrid Train Market - Indonesia
- 8.5.8.1. Indonesia: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.5.8.2. Indonesia.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.5.8.3. Indonesia: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.5.9. Hybrid Train Market - South Korea
- 8.5.9.1. South Korea: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.5.9.2. South Korea.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.5.9.3. South Korea: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.6. Hybrid Train Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.6.2. Middle East & Africa.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.6.3. Middle East & Africa: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.6.4. Hybrid Train Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.6.4.3. Saudi Arabia: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.6.5. Hybrid Train Market - UAE
- 8.6.5.1. UAE: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.6.5.2. UAE.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.6.5.3. UAE: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.6.6. Hybrid Train Market - Israel
- 8.6.6.1. Israel: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.6.6.2. Israel.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.6.6.3. Israel: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.6.7. Hybrid Train Market - South Africa
- 8.6.7.1. South Africa: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.6.7.2. South Africa.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.6.7.3. South Africa: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.7. Hybrid Train Market - Latin America
- 8.7.1. Latin America: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.7.2. Latin America.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.7.3. Latin America: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.7.4. Hybrid Train Market - Mexico
- 8.7.4.1. Mexico: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.7.4.2. Mexico.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.7.4.3. Mexico: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.7.5. Hybrid Train Market - Brazil
- 8.7.5.1. Brazil: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.7.5.2. Brazil.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.7.5.3. Brazil: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
- 8.7.6. Hybrid Train Market - Argentina
- 8.7.6.1. Argentina: Hybrid Train Market, by Propulsion Type, 2018 - 2030 (USD Billion)
- 8.7.6.2. Argentina.: Hybrid Train Market, by Operating Speed, 2018 - 2030 (USD Billion)
- 8.7.6.3. Argentina: Hybrid Train Market, by Application, 2018 - 2030 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Hyundai Rotem
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Kawasaki Heavy
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Alstom
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Ballard Power Systems
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Siemens
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Stadler Rail
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Toshiba Corp
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Bombardier
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. China Railway Rolling Stock
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Wabtec Corporation
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development