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Hybrid Train MarketThe Hybrid Train Market size has been rising at a rapid pace over the last few years and is projected to grow at a CAGR of 5.4% over the analysis period, i.e., 2021 to 2028. The rising demand for the public mode of transportation to decrease the traffic level on-road and the increasing cost of fuel is likely to elevate the market growth.
Request a FREE Sample Report of Hybrid Train Market Hybrid Train Market DynamicsThe rising demand for eco-friendly and power-effective rail operations is one of the prominent forces supplementing the growth of the global hybrid train market. Also, the rigorous government norms to restrain ejections in various nations have encouraged the train producers to choose less-polluting trains. For example, Alstom is the first company to introduce a hydrogen-powered train in 2018. Alstom obtained two orders from Southern Germany to supply 25 Cordia Lint hydrogen-based regional trains. Moreover, OEMs are directing the establishment of hybrid trains that use different sources of fuel, such as hydrogen fuel cells, LNG, solar energy, electric batteries, CNG, and LNG. These factors serve a crucial role in stimulating Hybrid Train market growth. Also, hybrid trains help freight companies to reduce operational costs by eradicating fuel and maintenance costs as fuel expenses are very high when using conventional diesel trains. The total ownership cost plays a crucial role in the freight industry and impacts profit margin. Companies are coming up with innovations in the production of trains to reduce the impact of carbon dioxide, matter, nitrogen oxide, and particulate matter produced in the environment. Thus, the Hybrid Train market research envisages that all these forces might contribute to market growth. However, as per the Hybrid Train market analysis, the evolution of the coronavirus has negatively influenced market growth. This is because the lockdown enforced across the nations has ceased the supply and production of new rail vehicles. The demand for new trains witnessed a significant decrease because of the inclination of the population to travel through private vehicles instead of public transport to evade crowds. Furthermore, the railways and their supporting infrastructure need huge capital as they require excessive financial support from the private and public sectors. Hydrogen is stored in the form of liquid at shallow temperatures or under pressure by chemical compounding. The rising weight of the overall vehicle has created complications in using hydrogen as a fuel. Thus, this factor might also restrain the market growth. About GMI Research GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions. Media Contact Company Name: GMI RESEARCH Contact Person: Sarah Nash Email: [email protected] Phone: Europe – +353 1 442 8820; US – +1 860 881 2270 Address: Dublin, Ireland Website: www.gmiresearch.com For More Info: Automotive Tires Market Electric Bus Market Automotive Aftermarket Market Automotive Tires E-Retailing Market Rolling Stock Market
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