The power conversion system utilized in rolling stock converts the alternating current to direct current and originates the diesel-based engine's power to propel the rolling stock. The power conversion unit involves different equipment responsible for deriving the power from diesel- or electric-based machine, which is mandatory to various power components of rolling stock and propel the train.
MARKET SCOPE
The "Global Rolling Stock Power Conversion System Market Analysis to 2028" is a specialized and in-depth study of the Rolling Stock Power Conversion System market with a special focus on the global market trend analysis. The report aims to provide an overview of Rolling Stock Power Conversion System market with detailed market by component, rolling stock type, and geography. The global Rolling Stock Power Conversion System market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Rolling Stock Power Conversion System market players and offers key trends and opportunities in the Rolling Stock Power Conversion System market.
MARKET SEGMENTATION
- On the basis of component, the market is segmented as rectifier, inverter, alternator, auxiliary power unit (APU), and traction motor.
- On the basis of rolling stock type, the market is segmented as locomotives, metros, monorails, trams, freight wagons, passenger coaches, others.
MARKET DYNAMICS
Drivers:
- Increase in the demand for energy-efficient transport
- Rise in the mining and other industrial activities
- Growing rate of adoption of public transport.
Restraint -
- Skilled labor required for Rolling Stock Power Conversion System
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Rolling Stock Power Conversion System market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Rolling Stock Power Conversion System market in these regions.
IMPACT OF COVID-19 ON ROLLING STOCK POWER CONVERSION SYSTEM MARKET
The COVID-19 pandemic has an adverse impact on public transport around the world. Many countries have adopted lockdown measures in which operations of metro and other public transport have been halted, as a result of which passenger numbers have fallen drastically, and services were reduced. For instance, Metro train services in major cities across India restarted operations under COVID-19 guidelines from September 7, 2020, for the first time since March. However, major cities and transit systems worldwide have restarted the operation of metro and railways as the vaccine drives are being successfully implemented. Moreover, the rising need to focus on the reduced emissions and increased efficiency of public transport systems, specifically railways, has resulted in the stability of the global Rolling Stock Power Conversion System market with the strengthening of supply chain and reopening of production facilities.
MARKET PLAYERS
The reports cover key developments in the Rolling Stock Power Conversion System market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Rolling Stock Power Conversion System market are anticipated to lucrative growth opportunities in the future with the rising demand for Rolling Stock Power Conversion System market. Below mentioned is the list of few companies engaged in the Rolling Stock Power Conversion System market.
The report also includes the profiles of key Rolling Stock Power Conversion System market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ABB Ltd.
- Alstom
- Bombardier, Inc.
- CRRC Corporation Ltd.
- Hitachi Ltd.
- Siemens AG
- Strukton
- Toshiba Corporation
- Turbo Power Systems
- Trimble Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.