Material and employees are moved into and out of mines using mining locomotives. Coal and ore are common materials transported. They are referred to as pit railways, mine railways, or the mine railroad.
A heavy-haul freight train used in opencast or underground mines is referred to as a mining locomotive. They could be powered by diesel, electric from some mine sections' electrified third rails, or steam generated from burning coal seams.
The global mining locomotive market is anticipated to amplify at a CAGR of 7% over the forecast duration of 2022-2030.
Global Mining Locomotive Market: Key Trends
Growing Adoption Of Electric Mining Locomotives To Augment The Industry Outlook
With rapid surge in mining activities across the globe, there has been an escalating demand for efficient locomotives. But, rising concerns about the emission rates of fuel powered locomotives and stringent regulations regarding the same has created a high demand for sustainable mining engines. This is turn has increased the adoption of electric power locomotives owing to their eco-friendly and energy efficient nature. These factors are driving the progression of the overall market.
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Global Mining Locomotive Market: Segmental Assessment
By Type:
- Steam Mining
- Electric Mining
- Diesel Mining
The electric mining segment is expected to amass notable gains over the analysis period owing to rising environmental concerns and rapidly depleting fuel resources.
By Application:
- Underground Mining
- Open-Cast Mining
The underground mining segment is predicted to garner significant returns over the forecast period. This is credited to the increase in discoveries and innovations supporting underground mining activities to keep emission rates at bay.
Global Mining Locomotive Market: Geographical Ambit
The major regions constituting the geographical terrain of this business sphere are North America, Middle East Africa, Europe, Asia Pacific, and Latin America. Among these, North America is projected to capture a high revenue share over 2022-2030. This is ascribed to the rising demand for continuous power supply, increase in mining activities, widespread industrialization, and presence of noteworthy market players.
Meanwhile, North America is anticipated to showcase lucrative growth trends over the stipulated timeline owing to the elevating demand for sustainable mining equipment to comply with the rigid environmental regulations.
Global Mining Locomotive Market: Competitive Landscape
The prominent companies characterizing the competitive gamut of this industry are CSR Corporation Brookville, Trident, Mining Equipment Ltd., Bombardier Transportation, Irwin Car and Equipment, Alstom SA, AEG Power Solutions, Siemens AG, Hitachi Ltd., and Others.
Notably, in 2021, Wabtec announced the launch of its first battery electric locomotive range named FLXdrive powered with an energy capacity of 2.4-MWh.
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