Hybrid Train Market to Reach $23.9 Bn, Globally, by 2027 at 6.6% CAGR: Allied Market Research
PORTLAND, Ore., Jan. 19, 2021 /PRNewswire/ Allied Market Research published a report, titled, Hybrid Train Market by Propulsion Type (Electro-Diesel, Battery Operated, Hydrogen Powered, Gas Powered, and Solar Powered), Application (Passenger and Freight), and Operating Speed (Less than 100 km/hr, 100-200 km/hr, and More than 200 km/hr): Global Opportunity Analysis and Industry Forecast, 2020-2027. According to the report, the global hybrid train industry generated $16.2 billion in 2019, and is expected to generate $23.9 billion by 2027, witnessing a CAGR of 6.6% from 2020 to 2027.
Drivers, restraints, and opportunities
Advantages associated with hybrid trains over conventional trains along with increase in awareness and stringent government regulations regarding environmental pollution drive the growth of the global hybrid train market. However, surge in cost regarding development
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