Global Hybrid Train Market Size is Estimated to Reach USD 32 billion by 2030, Growing at a CAGR of 6.8%: Straits Research

A rise in demand for diesel-electric locomotives, owing to its benefits such as less maintenance, high efficiency, ease of use, sustainability, reliability, and less fuel utilization over conventional locomotives, is expected to drive the growth of the hybrid train market during the forecast period.

New York, United States, March 07, 2024 (GLOBE NEWSWIRE) — A hybrid train is a railway vehicle or locomotive which employs alternate fuels for the propulsion and powering of internal systems of these vehicles. Energy storage systems are positioned between the prime mover of the diesel engine and the transmission system connected to the wheels. Primary energy sources utilized in accelerating trains are diesel, hydrogen, fuel cells, CNG, and others. Additional energy created during acceleration and regenerative braking is saved in energy storage systems. This energy is further utilized to improve the transmission systems and speed. This application of energy storage systems reduces energy consumption, lessens environmental pollutants, and generates cost savings. In the future, the demand for hybrid trains is anticipated to increase due to their advantages over conventional trains, including their reliability, cost-effectiveness, sustainability, and environmental friendliness.

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Advantages Associated with Hybrid Trains over Conventional Trains Drives the Global Market

According to Straits Research, The global hybrid train market size was valued at USD 18 billion in 2021. It is projected to reach USD 32 billion by 2030, growing at a CAGR of 6.8% during the forecast period (2022-2030).” Hybrid trains have several advantages over conventional trains, including achieving zero emissions, economic benefits, the flexibility to run on alternative fuels, and power generation via regenerative braking, all of which contribute to market expansion. Moreover, hybrid trains are superior to traditional trains in terms of travel time and safety due to their capacity to generate regeneration power by applying brakes. In addition, battery-powered trains have reduced costs, fewer pollutants, less maintenance, and more straightforward operation, which are expected to increase demand in the coming years. In addition, the advent of hydrogen gas-powered trains, which do not release carbon emissions, consume less energy than diesel fuel, and create minimal noise and vibration, is anticipated to drive market expansion during the examined period.

Government Initiatives and Investment Toward Alternative Fuel-Powered Hybrid Trains Creates Tremendous Opportunities

Government measures promote using alternative fuels such as biofuels (bio-ethanol, bio-methanol, bio-DME, and bio-LPG), solar, hydrogen, gasoline, and other renewable energies to power hybrid trains to increase research and development in this industry. In addition, rising investments in solar-powered hybrid trains in emerging economies such as China, India, Japan, Germany, and France are anticipated to create lucrative prospects for market participants. Additionally, critical potential advantages of alternative fuels, such as reduced carbon emissions, cost benefits, less maintenance, biodegradability, and low toxicity, are the primary elements that draw investments and government support for the use of alternative fuels in the railway industry. Consequently, it is anticipated that these factors will aid the expansion of the global market throughout the forecast period.

Regional Analysis

Europe is the highest revenue contributor and is estimated to grow at a CAGR of 6.8% during the forecast period. The market for hybrid trains has expanded in Europe due to significant market trends, including the increasing deployment of the hybrid locomotive in some regions of Germany. Asia-Pacific is anticipated to grow at a CAGR of 7% during the forecast period. Recent industry trends like introducing the new hybrid electric train in the Philippines have accelerated Asia-Pacific market growth. In addition, the main driver of the market expansion in Japan is the rise in the use of hybrid locomotives by railway freight firms.

North America is the third largest region. The major growth factor in North America is the development of a hybrid railcar that uses an internal combustion engine and hybrid electric batteries to run the train. In the United States, this hybrid railcar is utilized for local transportation since it uses less fuel and emits fewer emissions. Another driver of market expansion is the existence of numerous federation bodies that offer incentives for switching trains to hybrid trains.

Key Highlights

  • Based on propulsion type, the global hybrid train market is categorized into electro-diesel, battery operated, hydrogen-powered, gas-powered, and solar-powered. The electro-diesel segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.8% during the forecast period.
  • Based on application, the global hybrid train market is bifurcated into passenger and freight. The passenger segment is the highest contributor to the global hybrid train market and is estimated to grow at a CAGR of 6.7% during the forecast period.
  • Based on operating speed, the global hybrid train market is fragmented into less than 100 km/h., 100-200 km/h, and more than 200 km/h. The 100-200 km/h segment is the highest contributor to the market and is estimated to grow at a CAGR of 7% during the forecast period.
  • Europe is the highest revenue contributor and is estimated to grow at a CAGR of 6.8% during the forecast period.

Competitive Players

The global hybrid train market’s major key players are Alstom SA, Ballard Power Systems, Inc., Bombardier, Inc., China Railway Rolling Stock Corporation (CRRC), Kawasaki Heavy Industries, Ltd., Siemens AG, Stadler Rail AG, Toshiba Corporation, Hyundai Rotem Company, and Wabtec Corporation. Other players operating in the hybrid train market are BNSF Railway Company, Etihad Rail, Vivarail, AVL, and L&T Construcciones Y Auxiliar De Ferrocarriles (CAF).

Market News

  • June 2022- Siemens AG launched an open digital business platform, Siemens Xcelerator, to accelerate digital transformation and value creation for customers of all sizes in the industry, including buildings, grids, and mobility. The business platform makes digital transformation more accessible, faster, and scalable. Siemens Xcelerator includes a curated portfolio of internet of things (IoT) enabled hardware, software, and digital services across Siemens and certified third parties, a growing ecosystem of partners, and an evolving marketplace to facilitate interactions and transactions between customers, partners, and developers.
  • June 2022- Siemens, a leader in industrial automation and software, infrastructure, building technology, and transportation, and NVIDIA, a pioneer in accelerated graphics and artificial intelligence (A.I.), today announced an expansion of their partnership to enable the industrial metaverse and increase the use of AI-driven digital twin technology that will help bring industrial automation to a new level.

Global Hybrid Train Market: Segmentation

By Propulsion Type

  • Electro-Diesel
  • Battery Operated
  • Hydrogen Powered
  • Gas Powered
  • Solar Powered

By Application

  • Passenger
  • Freight

By Operating Speed

  • Less than 100 km/h
  • 100 – 200 km/h
  • More than 200 km/h

By Regions

  • North America
  • Europe
  • Asia-Pacific

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About Straits Research Pvt. Ltd.

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