The global hybrid train market was valued at $16.2 billion in 2019, and is projected to reach $23.9 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027.
Hybrid train is the railway vehicle or locomotive, which uses alternative fuels for the propulsion and powering of internal systems in these vehicles. Energy storage systems are placed between prime mover of diesel engine and transmission system connected to the wheels. Primary energy source used in accelerating trains include diesel, hydrogen, fuel cells, CNG, and others. Additional energy formed during acceleration and regenerative braking is stored in energy storage systems. This energy is further used to boost the transmission systems and speed. This use of energy storage systems helps to reduce energy consumption, decrease environmental pollution, and provide benefit in economic saving.
Advantages of hybrid trains, such as reliability, cost-effective, sustainable, environment-friendly, and others, compared to conventional trains are expected to increase the demand for hybrid trains in the coming years. In addition, government initiatives and investments toward the development of railway infrastructure are anticipated to fuel the growth of the hybrid train market during the forecast period. However, rise in development cost and complexity in hybrid rail systems are expected to hamper the market growth in the coming years.
The global hybrid train market is segmented on the basis of propulsion type, application, operating speed, and region. Depending on propulsion type, the market is categorized into electro-diesel, battery operated, hydrogen powered, gas powered, and solar powered. On the basis of application, it is bifurcated into passenger and freight. By operating speed, the market is fragmented into less than 100 km/hr, 100-200 km/hr, and more than 200 km/hr. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS
? The report includes in-depth analysis of different segments and provides market estimations between 2020 and 2027.
? A comprehensive analysis of the factors that drive and restrict the growth of the global hybrid train market is provided.
? Porter's five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
? Estimations and forecast are based on factors impacting the global hybrid train market growth in terms of value.
? The key market players are profiled to gain an understanding of the strategies adopted by them.
? This report provides a detailed analysis of the current global hybrid train market trends and future estimations from 2020 to 2027, which help to identify the prevailing market opportunities.
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KEY MARKET SEGMENTS
By Propulsion Type
- Electro-Diesel
- Battery Operated
- Hydrogen Powered
- Gas Powered
- Solar Powered
By Application
- Passenger
- Freight
By Operating Speed
- Less than 100 km/hr
- 100-200 km/hr
- More than 200 km/hr
By Region
- North America
o U.S.
o Canada
o Mexico
- Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
- Asia-Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia-Pacific
- LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
KEY MARKET PLAYERS
- Alstom SA
- Ballard Power Systems, Inc.
- Bombardier, Inc.
- China Railway Rolling Stock Corporation (CRRC)
- Hyundai Rotem Company
- Kawasaki Heavy Industries, Ltd.
- Siemens AG
- Stadler Rail AG
- Toshiba Corporation
- Wabtec Corporation
Other players operating in the hybrid train market are BNSF Railway Company, Etihad Rail, Vivarail, AVL, L&T, Construcciones Y Auxiliar De Ferrocarriles (CAF), and others.