IndexBox has just published a new report: ‘EU – Electric Locomotives – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.
In Q1-Q3 2021, trade on the EU electric locomotive market soared by 86% compared to the same period a year earlier, reaching $609M. During the entire 2021, electric locomotive exports in the EU are to exceed the record $1.1B. High-speed rail traffic in the EU is to double by 2030, shaping promising prospects for the locomotive market.
In Q1-Q3 2021, exports of electric locomotives in the EU amounted to $609M, surging by 86% compared to the same period of 2020. The EU total supplies are set to surpass $1.1B in 2021 (IndexBox estimates).
Germany remains the leading European country with the highest export value of electric locomotives. Over the period under review, supplies from Germany rose by 64% to $372M against Q1-Q3 2020.
In the context of the decarbonization plan, the market for electric locomotives, an eco-friendly transport type, has massive potential for development. As stated by the European Commission, only about 7% of passengers and 11% of goods in Europe travel by rail. High-speed rail traffic to double across the EU by 2030, and scheduled collective travel for journeys under 500 km should be carbon neutral; rail freight traffic is expected to rise twofold as well by 2050. The targets mentioned above induce an excellent potential for the electric locomotive market in Europe.
EU Electric Locomotive Exports by Country
Electric locomotive exports in the EU shrank modestly from $624M in 2019 to $623M in 2020. Germany ($499M) remains the largest electric locomotive supplier in the EU, comprising 80% of the total value. The second position in the ranking was occupied by France ($83M), with a 13% share of total exports. It was followed by Sweden, with a 1.7% share. They were followed by the Czech Republic, Spain, Slovakia, Denmark and the other countries.
In Germany, electric locomotive exports expanded at an average annual rate of +5.9% from 2007-to 2020. The highest annual growth rate was attained by the Czech Republic (+7.3%), while France (-1.6% per year) and Slovakia (-4.2% per year) experienced negative paces of growth.
Source: IndexBox Platform