Diesel-Electric and Other Locomotive Market

The article discusses the projected decline in the diesel-electric and other locomotive market over the next eight years, with anticipated decreases in both volume and value. Italy is highlighted as the leading country in terms of both consumption and production. The analysis includes detailed data on consumption, production, imports, exports, and average prices, providing insights into the trends and dynamics of the global diesel-electric and other locomotive market.

Market Forecast

The diesel-electric and other locomotive market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -7.7% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 31K units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of -5.9% for the period from 2022 to 2030, which is projected to bring the market value to $7.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Diesel-Electric and Other Locomotives

In 2022, approx. 60K units of diesel-electric and other locomotives were consumed worldwide; growing by 617% compared with the previous year. In general, consumption continues to indicate significant growth. As a result, consumption attained the peak volume and is likely to continue growth in the immediate term.

The global diesel-electric and other locomotive market value soared to $11.6B in 2022, growing by 630% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Consumption By Country

Italy (52K units) constituted the country with the largest volume of diesel-electric and other locomotive consumption, comprising approx. 88% of total volume. Moreover, diesel-electric and other locomotive consumption in Italy exceeded the figures recorded by the second-largest consumer, South Korea (2.1K units), more than tenfold.

In Italy, diesel-electric and other locomotive consumption increased at an average annual rate of +71.8% over the period from 2012-2022.

In value terms, Italy ($10.4B) led the market, alone. The second position in the ranking was held by South Korea ($396M).

From 2012 to 2022, the average annual rate of growth in terms of value in Italy totaled +71.7%.

From 2012 to 2022, the average annual rate of growth in terms of the diesel-electric and other locomotive per capita consumption in Italy amounted to +71.9%.

Production

World Production of Diesel-Electric and Other Locomotives

For the fourth year in a row, the global market recorded growth in production of diesel-electric and other locomotives, which increased by 734% to 59K units in 2022. Overall, production showed significant growth. As a result, production attained the peak volume and is likely to continue growth in the immediate term.

In value terms, diesel-electric and other locomotive production dropped to $1.2B in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable reduction. The growth pace was the most rapid in 2018 when the production volume increased by 11%. Global production peaked at $1.5B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

Italy (52K units) remains the largest diesel-electric and other locomotive producing country worldwide, accounting for 88% of total volume. Moreover, diesel-electric and other locomotive production in Italy exceeded the figures recorded by the second-largest producer, South Korea (2.1K units), more than tenfold.

In Italy, diesel-electric and other locomotive production expanded at an average annual rate of +70.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+0.3% per year) and Germany (+1.3% per year).

Imports

World Imports of Diesel-Electric and Other Locomotives

Global diesel-electric and other locomotive imports contracted slightly to 2.1K units in 2022, flattening at the year before. Over the period under review, imports, however, showed a modest expansion. The growth pace was the most rapid in 2014 with an increase of 202% against the previous year. As a result, imports reached the peak of 5.2K units. From 2015 to 2022, the growth of global imports remained at a lower figure.

In value terms, diesel-electric and other locomotive imports soared to $454M in 2022. In general, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 57% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports By Country

The purchases of the three major importers of diesel-electric and other locomotives, namely Spain, Kazakhstan and Slovakia, represented more than fourth of total import. Congo (108 units) held the next position in the ranking, followed by the United Arab Emirates (99 units). All these countries together held approx. 10% share of total imports. China (87 units), Mozambique (85 units), Bulgaria (81 units), Italy (61 units), Poland (60 units), the Czech Republic (59 units), Kenya (56 units) and Thailand (55 units) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bulgaria (with a CAGR of +87.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Spain ($156M), Slovakia ($86M) and Congo ($40M) appeared to be the countries with the highest levels of imports in 2022, with a combined 62% share of global imports.

Spain, with a CAGR of +83.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, rail locomotives and locomotive tenders; other than diesel-electric powered (2.1K units) was the main type of diesel-electric and other locomotives, achieving 78% of total imports. It was distantly followed by diesel-electric locomotives (587 units), creating a 22% share of total imports.

Rail locomotives and locomotive tenders; other than diesel-electric powered experienced a relatively flat trend pattern with regard to volume of imports. diesel-electric locomotives (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of rail locomotives and locomotive tenders; other than diesel-electric powered increased by +9.8 percentage points.

In value terms, diesel-electric locomotives ($1.5B) constitutes the largest type of diesel-electric and other locomotives imported worldwide, comprising 77% of global imports. The second position in the ranking was taken by rail locomotives and locomotive tenders; other than diesel-electric powered ($454M), with a 23% share of global imports.

From 2012 to 2022, the average annual growth rate of the value of diesel-electric locomotives imports stood at -1.5%.

Import Prices By Type

In 2022, the average diesel-electric and other locomotive import price amounted to $219,054 per unit, growing by 41% against the previous year. Over the period under review, the import price posted a buoyant expansion. The growth pace was the most rapid in 2016 an increase of 224%. Over the period under review, average import prices reached the peak figure at $259,713 per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was diesel-electric locomotives ($2,595,785 per unit), while the price for rail locomotives and locomotive tenders; other than diesel-electric powered totaled $219,054 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by rail locomotives and locomotive tenders; other than diesel-electric powered (+5.0%).

Import Prices By Country

In 2022, the average diesel-electric and other locomotive import price amounted to $219,054 per unit, picking up by 41% against the previous year. Over the period under review, the import price recorded a prominent expansion. The pace of growth was the most pronounced in 2016 an increase of 224%. Global import price peaked at $259,713 per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Spain ($637,856 per unit), while Italy ($27,120 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+13.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Diesel-Electric and Other Locomotives

In 2022, overseas shipments of diesel-electric and other locomotives increased by 108% to 1.9K units, rising for the second consecutive year after three years of decline. In general, exports, however, continue to indicate a pronounced decrease. The global exports peaked at 2.3K units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, diesel-electric and other locomotive exports soared to $169M in 2022. Overall, exports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2020 when exports increased by 44% against the previous year. Over the period under review, the global exports attained the maximum at $359M in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China was the largest exporting country with an export of about 772 units, which resulted at 41% of total exports. It was distantly followed by Germany (304 units), the Czech Republic (152 units) and the United States (136 units), together achieving a 31% share of total exports. Russia (64 units), Croatia (36 units), the Netherlands (36 units), Switzerland (34 units), Italy (34 units), Austria (33 units) and France (32 units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +3.7% from 2012 to 2022. At the same time, Croatia (+144.9%), the Netherlands (+48.9%), France (+5.9%), the Czech Republic (+3.4%) and the United States (+2.3%) displayed positive paces of growth. Moreover, Croatia emerged as the fastest-growing exporter exported in the world, with a CAGR of +144.9% from 2012-2022. Austria experienced a relatively flat trend pattern. By contrast, Italy (-3.8%), Russia (-5.5%), Germany (-6.6%) and Switzerland (-14.3%) illustrated a downward trend over the same period. China (+18 p.p.), the Czech Republic (+3.4 p.p.), the United States (+2.6 p.p.), the Netherlands (+1.9 p.p.) and Croatia (+1.9 p.p.) significantly strengthened its position in terms of the global exports, while Switzerland and Germany saw its share reduced by -5% and -9.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest diesel-electric and other locomotive supplying countries worldwide were Germany ($59M), the Czech Republic ($32M) and China ($23M), together accounting for 67% of global exports. Russia, the United States, Italy, the Netherlands, Croatia, Austria, France and Switzerland lagged somewhat behind, together accounting for a further 23%.

Among the main exporting countries, Croatia, with a CAGR of +964.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Rail locomotives and locomotive tenders; other than diesel-electric powered represented the main exported product with an export of around 1.9K units, which resulted at 79% of total exports. It was distantly followed by diesel-electric locomotives (491 units), generating a 21% share of total exports.

Rail locomotives and locomotive tenders; other than diesel-electric powered was also the fastest-growing in terms of exports, with a CAGR of -2.1% from 2012 to 2022. diesel-electric locomotives (-5.5%) illustrated a downward trend over the same period. Rail locomotives and locomotive tenders; other than diesel-electric powered (+6.3 p.p.) significantly strengthened its position in terms of the global exports, while diesel-electric locomotives saw its share reduced by -6.3% from 2012 to 2022, respectively.

In value terms, diesel-electric locomotives ($947M) remains the largest type of diesel-electric and other locomotives supplied worldwide, comprising 85% of global exports. The second position in the ranking was taken by rail locomotives and locomotive tenders; other than diesel-electric powered ($169M), with a 15% share of global exports.

From 2012 to 2022, the average annual growth rate of the value of diesel-electric locomotives exports amounted to -7.0%.

Export Prices By Type

The average diesel-electric and other locomotive export price stood at $89,522 per unit in 2022, falling by -36.7% against the previous year. In general, the export price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2020 when the average export price increased by 110%. As a result, the export price reached the peak level of $211,749 per unit. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was diesel-electric locomotives ($1,928,401 per unit), while the average price for exports of rail locomotives and locomotive tenders; other than diesel-electric powered amounted to $89,522 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by diesel-electric locomotive (-1.6%).

Export Prices By Country

In 2022, the average diesel-electric and other locomotive export price amounted to $89,522 per unit, falling by -36.7% against the previous year. Overall, the export price recorded a drastic downturn. The pace of growth was the most pronounced in 2020 an increase of 110% against the previous year. As a result, the export price reached the peak level of $211,749 per unit. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($208,135 per unit), while China ($29,935 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+334.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform