EU: Electric Locomotive Market 2024

Electric Locomotive Market Size in the EU

In 2021, the EU electric locomotive market decreased by -2.8% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Electric Locomotive Production in the EU

In value terms, electric locomotive production amounted to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 2.3% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Electric Locomotive Exports

Exports in the EU

In 2021, after two years of decline, there was significant growth in shipments abroad of electric locomotives, when their volume increased by 77% to X units. Overall, exports, however, saw a abrupt decline. The growth pace was the most rapid in 2018 when exports increased by 161% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, electric locomotive exports skyrocketed to $X in 2021. Total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +7.5% against 2018 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 129% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

In 2021, Sweden (X units) was the key exporter of electric locomotives, generating 57% of total exports. The Netherlands (X units) held a 24% share (based on physical terms) of total exports, which put it in second place, followed by Spain (5.4%). Germany (X units), Austria (X units) and Poland (X units) took a little share of total exports.

Exports from Sweden increased at an average annual rate of +57.6% from 2012 to 2021. At the same time, Poland (+71.5%) and the Netherlands (+57.1%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +71.5% from 2012-2021. By contrast, Austria (-7.4%), Spain (-14.3%) and Germany (-37.8%) illustrated a downward trend over the same period. While the share of Sweden (+57 p.p.), the Netherlands (+23 p.p.), Poland (+2.6 p.p.) and Austria (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Germany (-81.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest electric locomotive supplier in the European Union, comprising 65% of total exports. The second position in the ranking was taken by Spain ($X), with a 17% share of total exports. It was followed by Poland, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value in Germany amounted to +1.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Spain (+21.8% per year) and Poland (+82.9% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per unit, with a decrease of -33.8% against the previous year. Over the period under review, the export price, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 an increase of 191% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2020, and then reduced rapidly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+62.8%), while the other leaders experienced more modest paces of growth.

Electric Locomotive Imports

Imports in the EU

In 2021, approx. X units of electric locomotives were imported in the European Union; waning by -57% against 2020 figures. Overall, imports showed a perceptible decrease. The most prominent rate of growth was recorded in 2020 with an increase of 268%. As a result, imports attained the peak of X units, and then shrank significantly in the following year.

In value terms, electric locomotive imports surged to $X in 2021. Over the period under review, imports saw a abrupt curtailment. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Ireland prevails in imports structure, finishing at X units, which was approx. 70% of total imports in 2021. It was distantly followed by Poland (X units) and Finland (X units), together constituting a 15% share of total imports. Sweden (X units), Belgium (X units), Hungary (X units) and Estonia (X units) followed a long way behind the leaders.

Imports into Ireland increased at an average annual rate of +37.9% from 2012 to 2021. At the same time, Estonia (+54.8%), Poland (+51.8%) and Finland (+39.9%) displayed positive paces of growth. Moreover, Estonia emerged as the fastest-growing importer imported in the European Union, with a CAGR of +54.8% from 2012-2021. By contrast, Sweden (-2.7%), Belgium (-7.8%) and Hungary (-11.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ireland, Poland, Finland and Estonia increased by +68, +8.8, +5.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electric locomotive importing markets in the European Union were Poland ($X), Finland ($X) and Sweden ($X), together accounting for 20% of total imports. These countries were followed by Ireland, Belgium, Hungary and Estonia, which together accounted for a further 4.2%.

Among the main importing countries, Estonia, with a CAGR of +32.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per unit, with an increase of 376% against the previous year. In general, the import price, however, continues to indicate a slight slump. The level of import peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($X per unit), while Ireland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (-4.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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