The railway generators market size is likely to thrive at an average CAGR of 5% during the forecast period. The market is anticipated to cross a market share of US$ 3,257.4 Mn by 2033 while it holds a value of US$ 1,999.8 Mn in 2023.
- Steady growth of the railway generator market is attributed to three major factors: The transformation of railway systems around the world. New railway systems set up in rural spaces for expanded connectivity, and sustainable & efficient energy-delivering generators.
- The more connected world demands better and faster rail connectivity. The adoption of new and advanced generators helps trains with higher power delivery. This pushes the sales of EOG and battery-based generator cars.
- The new locomotive systems integrating with the power delivery systems have fueled the higher adoption of advanced railway generators to produce electricity for AC coaches.
- The lack of resources and funds to transform the whole railway system with the latest railway generator technology shrinks the market space globally.
- The US holds a market share of 19.4% in the global market, owing to the higher government investments in railways and transforming railway bboundaries
- Germany holds the market share of 6% for the railway generators market attributed to its higher tourist footfall and new extensions.
- The developing railway infrastructure, and efficient generator technology along with the advent of new train routes in India and China thrive market growth. Both thrive at a CAGR of 6% and 5.5% respectively. India adoptsthe new HOG and EOGtechnologyy for higher sustainability and minimum fuel consumption.
- The freight wagon segment holds a market share of 62.9% in the global market due to the proliferation of logistical operations along with its easy integration with modern generators.
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The competitors focus on creating advanced generators with better power delivery along with the efficient consumption of resources. Companies also make these generators reliable so that they can work for long hours and have a higher shelf-life. Furthermore, the key players adopt the strategy of acquisition, merger, and other expansionist tricks to strengthen their supply chain.
Key players in the market include Jenoptik, Nidec Generator Corporation, General Electric (the U.S.), Sulzer Ltd, ENGIRO GMBH , and Bharat Heavy Electricals Limited, ABB (Switzerland), Ingeteam Traction Systems, VEM Group , Kirloskar Electric Compan, and Swiger Coil Systems.
Recent Market Developments
- Jenoptik systems along with its technological component have launched its new product of air-cooled alternators and integrated started generator (ISG) that is easy to integrate and provides low life-cycle-costs, and high energy-efficiency.
- ABB has launched the high-performance WGX generator family that covers power from 1 to more than 3 kW while offering high efficiency of 96.9%.
Railway generators Market by Category
By Generator Type, Railway Generators Market is segmented as:
- AC Traction
- DC Traction
By Power Rating, Railway Generators Market is segmented as:
- Less than 500 kW
- Between 500 kkW, 1000 kW
- 1000 kW and 2000 kW
- 2000 kW and Above
By Application, Railway Generators Market is segmented as:
- Passenger Cars
- Freight Wagons