Diesel locomotive engines are used for transporting large amounts of freight due to its ability to move a large amount of freight at less fuel, increased speed, and safety. Railways are mainly used for transporting passengers and freight. Roadways are the largest contributor in the transport sector. However, due to increasing concerns regarding pollutions caused by vehicular emissions, rising fuel costs, and traffic congestion, freight companies are moving more and more toward the rail mode of transportation.
The development of hydrogen-powered locomotive engines is one of the major factors that will gain traction in this market in the coming years. The hydrogen fuel in the roof will produce electricity by mixing hydrogen and oxygen to generate electricity and will emit only condensed water and steam as by-products. This also eliminates the need for overhead cables, making these trains environment-friendly. One of the locomotive engine manufacturers Alstom, has already launched Coradia iLint, a hydrogen cell powered passenger train in Germany in 2016. The train can reach speeds up to 90 mph and has an approximate range of about 500 miles before refueling.
The market is characterized by the presence of a limited number of well-established vendors and is dominated by major players such as General Electric (GE), Caterpillar, and China CNR. Due to the restricted demand for locomotive engines, this market is moderately competitive. The major market players are currently focusing on increasing their customer base and are also investing heavily in R&D. With technological advancements and the introduction of regulations from various governments, the market