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Report Update Nov 1, 2024

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

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Global Electric Locomotive Market 2024

Electric Locomotive Market Size

The global electric locomotive market reduced dramatically to $X in 2021, falling by -37.6% against the previous year. Over the period under review, consumption recorded a abrupt curtailment. Global consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Electric Locomotive Production

In value terms, electric locomotive production amounted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild slump. The growth pace was the most rapid in 2014 with an increase of 3.1%. As a result, production reached the peak level of $X. From 2015 to 2021, global production growth remained at a lower figure.

Electric Locomotive Exports

Exports

In 2021, the amount of electric locomotives exported worldwide soared to X units, growing by 226% compared with the previous year. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric locomotive exports surged to $X in 2021. In general, total exports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +87.8% against 2017 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 52% against the previous year. Over the period under review, the global exports reached the peak figure in 2021 and are likely to continue growth in the near future.

Exports by Country

South Korea was the major exporting country with an export of around X units, which resulted at 70% of total exports. It was distantly followed by Kazakhstan (X units), generating a 25% share of total exports. Sweden (X units) followed a long way behind the leaders.

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, Sweden (+57.6%) and Kazakhstan (+44.5%) displayed positive paces of growth. While the share of South Korea (+68 p.p.), Kazakhstan (+19 p.p.) and Sweden (+1.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest electric locomotive supplier worldwide, comprising 14% of global exports. The second position in the ranking was taken by Kazakhstan ($X), with a 5.4% share of global exports.

In South Korea, electric locomotive exports increased at an average annual rate of +28.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kazakhstan (+14.1% per year) and Sweden (+22.2% per year).

Export Prices by Country

The average electric locomotive export price stood at $X per unit in 2021, shrinking by -54.7% against the previous year. In general, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of 112%. The global export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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 Sweden ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (-21.1%), while the other global leaders experienced a decline in the export price figures.

Electric Locomotive Imports

Imports

In 2021, the amount of electric locomotives imported worldwide shrank notably to X units, waning by -27.5% against the year before. Over the period under review, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by 194% against the previous year. Global imports peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, electric locomotive imports soared to $X in 2021. Overall, imports showed a slight downturn. Global imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Morocco (X units), Ireland (X units), Singapore (X units), Nigeria (X units) and Indonesia (X units) was the largest importer of electric locomotives in the world, creating 76% of total import. Kazakhstan (X units), Egypt (X units), Israel (X units), Poland (X units) and Bangladesh (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 global leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Poland ($X) and Morocco ($X) constituted the countries with the highest levels of imports in 2021, with a combined 18% share of global imports. Kazakhstan, Israel, Bangladesh, Ireland, Indonesia, Egypt and Nigeria lagged somewhat behind, together comprising a further 12%.

Among the main importing countries, Bangladesh, with a CAGR of +202.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average electric locomotive import price stood at $X per unit in 2021, rising by 80% against the previous year. Overall, the import price posted a pronounced increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 136% against the previous year. Global import price 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 Poland ($X per unit), while Nigeria ($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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of electric locomotive consumption was India, comprising approx. 30% 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 5.4% share.
India remains the largest electric locomotive producing country worldwide, comprising approx. 35% of total volume. Moreover, electric locomotive production in India exceeded the figures recorded by the second-largest producer, Germany, threefold. Japan ranked third in terms of total production with an 8.3% share.
In value terms, Germany remains the largest electric locomotive supplier worldwide, comprising 37% of global exports. The second position in the ranking was occupied by France, with an 11% share of global exports. It was followed by Spain, with a 9.6% share.
In value terms, Ireland, Uzbekistan and Azerbaijan constituted the countries with the highest levels of imports in 2021, with a combined 24% share of global imports.
In 2021, the average electric locomotive export price amounted to $32,216 per unit, rising by 18% against the previous year.
In 2021, the average electric locomotive import price amounted to $26,987 per unit, increasing by 65% against the previous year.

This report provides an in-depth analysis of the global electric locomotive market. 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:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • 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. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    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
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    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, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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