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Hybrid Train Market Trends

Report ID: GMI6708
Published Date: Sep 2023
Report Format: PDF

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Hybrid Train Market Trends

Government initiatives promoting hydrogen-powered trains to reduce carbon emissions are driving the hybrid train industry growth. These efforts encourage the adoption of alternative fuels and sustainable transportation solutions. For instance, in June 2023, under the 'Hydrogen for Heritage' initiative, the Indian Railways unveiled its intentions to run 35 hydrogen trains, embracing an eco-friendlier approach to curb carbon emissions. This project seeks to transform the railway sector by integrating hydrogen fuel cells as a sustainable alternative to traditional diesel engines. Government support and investments in such initiatives are creating a favorable environment for the market to flourish as a sustainable rail transport option.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of hybrid train reached USD 16.4 billion in 2022 and is set to register over 5% CAGR from 2023 to 2032, due to the rising need to reduce greenhouse gas emissions and fuel consumption worldwide.

2. Why are hybrid trains gaining traction as a preferred source of transport in passenger applications?

Asia Pacific registered over 45% of the market share in 2022, owing to the increasing government initiatives supporting hybrid train projects in the region.

ABB, Alstom, CRRC, Cummins, Hitachi, Hyundai Rotem Company, Kawasaki, Mitsubishi, Progress Rail, Siemens, Škoda Transportation, Stadler Rail AG, Toshiba, Viva Rail, and Wabtech Corporation, are some of the major hybrid train companies worldwide.