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Report Asia - Electric Locomotives - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Jan 1, 2025

Asia - Electric Locomotives - Market Analysis, Forecast, Size, Trends and Insights

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Asia: Electric Locomotive Market 2025

Electric Locomotive Market Size in Asia

In 2021, the Asian electric locomotive market decreased by -84.7% to $X, falling for the seventh year in a row after three years of growth. Overall, consumption recorded a dramatic decrease. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Electric Locomotive Production in Asia

In value terms, electric locomotive production reached $X in 2021 estimated in export price. Overall, production continues to indicate a mild curtailment. The growth pace was the most rapid in 2014 with an increase of 6.2%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Electric Locomotive Exports

Exports in Asia

Electric locomotive exports skyrocketed to X units in 2021, with an increase of 238% against 2020 figures. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 523%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, electric locomotive exports skyrocketed to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 237% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Korea represented the key exporter of electric locomotives in Asia, with the volume of exports amounting to X units, which was near 74% of total exports in 2021. It was distantly followed by Kazakhstan (X units), making up a 26% share of total exports.

South Korea was also the fastest-growing in terms of the electric locomotives exports, with a CAGR of +91.1% from 2012 to 2021. At the same time, Kazakhstan (+44.5%) displayed positive paces of growth. South Korea (+62 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -24.5% from 2012 to 2021, respectively.

In value terms, South Korea ($X) remains the largest electric locomotive supplier in Asia, comprising 39% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in South Korea amounted to +28.8%.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, declining by -25.2% against the previous year. Overall, the export price saw a dramatic decrease. The most prominent rate of growth was recorded in 2015 an increase of 206%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while South Korea stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (-21.1%).

Electric Locomotive Imports

Imports in Asia

In 2021, overseas purchases of electric locomotives decreased by -14.5% to X units, falling for the second consecutive year after four years of growth. Overall, imports continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2014 with an increase of 72% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, electric locomotive imports fell modestly to $X in 2021. Over the period under review, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2013 when imports increased by 207% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Singapore (X units), distantly followed by Indonesia (X units), Kazakhstan (X units), Israel (X units) and Bangladesh (X units) represented the key importers of electric locomotives, together mixing up 92% of total imports. Lao People's Democratic Republic (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +100.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported electric locomotives in Asia, comprising 30% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 12% share of total imports. It was followed by Israel, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Singapore totaled +25.2%. In the other countries, the average annual rates were as follows: Kazakhstan (+14.8% per year) and Israel (+125.4% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, surging by 12% against the previous year. Over the period under review, the import price posted a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of 351%. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Bangladesh ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+56.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

India remains the largest electric locomotive consuming country in Asia, accounting for 51% of total volume. Moreover, electric locomotive consumption in India exceeded the figures recorded by the second-largest consumer, Japan, fourfold. The third position in this ranking was occupied by Saudi Arabia, with a 9.2% share.
India constituted the country with the largest volume of electric locomotive production, accounting for 59% of total volume. Moreover, electric locomotive production in India exceeded the figures recorded by the second-largest producer, Japan, fourfold. South Korea ranked third in terms of total production with a 10% share.
In value terms, China remains the largest electric locomotive supplier in Asia, comprising 65% of total exports. The second position in the ranking was occupied by South Korea, with a 13% share of total exports. It was followed by Japan, with a 9.9% share.
In value terms, Uzbekistan, Azerbaijan and Singapore constituted the countries with the highest levels of imports in 2021, together accounting for 73% of total imports.
The electric locomotive export price in Asia stood at $54,283 per unit in 2021, with an increase of 25% against the previous year.
The electric locomotive import price in Asia stood at $24,361 per unit in 2021, rising by 50% against the previous year.

This report provides an in-depth analysis of the electric locomotive market in Asia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 30201100 - Rail locomotives powered from an external source of electricity
  • Prodcom 30201300 - Other rail locomotives, locomotive tenders

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Asia, split by region and country
  • Trade (exports and imports) in Asia
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Afghanistan
    • Armenia
    • Azerbaijan
    • Bahrain
    • Bangladesh
    • Bhutan
    • Brunei Darussalam
    • Cambodia
    • China
    • Hong Kong SAR
    • Macao SAR
    • Cyprus
    • Georgia
    • India
    • Indonesia
    • Iran
    • Iraq
    • Israel
    • Japan
    • Jordan
    • Kazakhstan
    • Kuwait
    • Kyrgyzstan
    • Lebanon
    • Malaysia
    • Maldives
    • Mongolia
    • Myanmar
    • Nepal
    • Oman
    • Pakistan
    • Palestine
    • Philippines
    • Qatar
    • Saudi Arabia
    • Singapore
    • South Korea
    • Sri Lanka
    • Syrian Arab Republic
    • Taiwan (Chinese)
    • Tajikistan
    • Thailand
    • Timor-Leste
    • Turkey
    • Turkmenistan
    • United Arab Emirates
    • Uzbekistan
    • Vietnam
    • Yemen
    • Lao People's Democratic Republic
    • Democratic People's Republic of Korea

  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Imports, In Physical Terms, By Country, 2012–2024
    7. Imports, In Value Terms, By Country, 2012–2024
    8. Import Prices, By Country Of Destination, 2012–2024
    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
    11. Export Prices, By Country Of Origin, 2012–2024

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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