Global Locomotive Market Size & Outlook, 2025-2030
Global locomotive market, 2018-2030 (US$M)
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Global locomotive market highlights
- The global locomotive market generated a revenue of USD 23,895.9 million in 2024 and is expected to reach USD 40,696.8 million by 2030.
- The market is expected to grow at a CAGR (2025 - 2030) of 9.7% by 2030.
- In terms of segment, electric accounted for a revenue of USD 12,533.6 million in 2024.
- Electric is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2024.
- Country-wise, Indonesia is expected to register the highest CAGR from 2025 to 2030.
Global data book summary
| Market revenue in 2024 | USD 23,895.9 million |
| Market revenue in 2030 | USD 40,696.8 million |
| Growth rate | 9.7% (CAGR from 2025 to 2030) |
| Largest segment | Electric |
| Fastest growing segment | Electric |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diesel, Electric |
Other key industry trends
- In terms of revenue, the North America accounted for 34.0% of the global locomotive market in 2024.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Indonesia is the fastest growing regional market and is projected to reach USD 445.7 million by 2030.
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Locomotive Market Scope
Locomotive Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| AEG Power Solutions | View profile | 1001-5000 | Markham, Ontario, Canada, North America | http://www.aegps.com |
| Bharat Heavy Electricals | View profile | 10001+ | New Delhi, Delhi, India, Asia | http://www.bhel.com |
| CRRC Corp Ltd ADR | View profile | 154292 | No. 16-5, Central West Fourth Ring Road, Haidian District, Beijing, China, People's Republic of, 100036 | https://www.crrcgc.cc |
| Wabtec | View profile | 10001+ | Pittsburgh, Pennsylvania, United States, North America | https://www.wabteccorp.com/ |
| Alstom SA | View profile | 84748 | 48, Rue Albert Dhalenne, Saint-Ouen-sur-Seine, Paris, France, 93400 | https://www.alstom.com |
| Toshiba Corporation | View profile | 10001+ | Tokyo, Tokyo, Japan, Asia | http://www.toshiba.com/tai/ |
| Mitsubishi Heavy Industries Ltd | View profile | 86331 | 2-3 Marunouchi 3-chome, Chiyoda-ku, Tokyo, Japan, 100-8332 | https://www.mhi.com |
| Siemens AG | View profile | 321000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | https://www.siemens.com |
| Hitachi Ltd | View profile | 322525 | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 | http://www.hitachi.com |
Global locomotive market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to locomotive market will help companies and investors design strategic landscapes.
Electric was the largest segment with a revenue share of 52.45% in 2024. Horizon Databook has segmented the Global locomotive market based on diesel, electric covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Locomotive Type Outlook (Revenue, USD Million, 2018-2030)
- Diesel
- Electric
- Others
- Global Locomotive Technology Outlook (Revenue, USD Million, 2018-2030)
- IGBT Module
- SiC Power Module
- GTO Thyristor
- Global Locomotive Component Outlook (Revenue, USD Million, 2018-2030)
- Rectifier
- Inverter
- Traction Motor
- Others (Braking Sysytems, Control Systems, and Circuit Breakers)
- Alternator
- Auxillary Power Unit (APU)
- Global Locomotive End Use Outlook (Revenue, USD Million, 2018-2030)
- Switcher
- Frieght
- Passengers
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Target buyers of Global locomotive market databook
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Our clientele includes a mix of locomotive market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global locomotive market , including forecasts for subscribers. This global databook contains high-level insights into Global locomotive market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global locomotive market size, by regions, 2018-2030 (US$M)
Top 10 countries: Locomotive market size, 2024 (US$M)
Global locomotive market share, by component, 2024 & 2030 (%, US$M)
Locomotive market: Opportunity assessment by country
Global locomotive market, by region, 2024 (US$M)
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