Thyristor Rectifier Electric Locomotive Market is predicted to reach USD 1 Billion at a CAGR of 5.40% during the forecast period 2024-2032

Market Research Future (MRFR) has published on the “Global Thyristor Rectifier Electric Locomotive Market”.

The Thyristor Rectifier Electric Locomotive market is estimated to register a CAGR of 5.40% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Thyristor Rectifier Electric Locomotive market— Hitachi Ltd., Mitsubishi Electric Corporation, Siemens AG, GE Transportation, Alstom SA, CRRC Corporation Limited, General Electric Company, Hyundai Rotem Company, Toshiba Corporation, ABB Ltd.

Thyristor Rectifier Electric Locomotive Market Highlights

The global Thyristor Rectifier Electric Locomotive market is accounted to register a CAGR of 5.40% during the forecast period and is estimated to reach USD 1 billion by 2032.

The thyristor rectifier electric locomotive market is witnessing robust growth driven by an increasing global emphasis on sustainable and eco-friendly transportation solutions. The demand for electric locomotives, leveraging thyristor rectifier technology, is rising as governments and industries prioritize reducing carbon emissions and transitioning to cleaner energy sources. This technology offers greater energy efficiency and reliability, contributing to a significant reduction in greenhouse gas emissions compared to traditional diesel locomotives. As urbanization intensifies and the need for efficient public transportation grows, thyristor rectifier electric locomotives are becoming a compelling choice for modernizing rail transport systems worldwide.

Segment Analysis

The global Thyristor Rectifier Electric Locomotive market has been segmented based on components, technology and end use.

On the basis of component, the market is segmented into Alternator, Inverter, Rectifier and Traction Motor. The traction motor segment was attributed to holding the largest market share in 2022, due to its central role in providing the necessary driving force for locomotion.

Based on technology, the global Thyristor Rectifier Electric Locomotive market has been segmented into GTO Thyristor and IGBT Module. The GTO thyristor segment was expected to hold the largest market share in 2022, due to its superior controllability and efficiency in power electronic applications.

Based on end use, the global Thyristor Rectifier Electric Locomotive market has been segmented into Freight and Passengers. The freight segment was expected to hold the largest market share in 2022, as it plays critical role in the efficient and cost-effective transportation of goods.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Thyristor Rectifier Electric Locomotive Market Research Report

Regional Analysis

The global Thyristor Rectifier Electric Locomotive market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Thyristor Rectifier Electric Locomotive market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Thyristor Rectifier Electric Locomotive market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Thyristor Rectifier Electric Locomotive market comprises of Middle East, Africa, and Latin America.

The largest market share for Thyristor Rectifier Electric Locomotive was maintained by the North American regional sector. This increase is attributed to a growing focus on sustainable transportation solutions and a shift towards electrification in the rail sector. Government initiatives promoting the reduction of carbon emissions and the adoption of cleaner technologies play a pivotal role in fostering the demand for electric locomotives utilizing thyristor rectifier technology. Additionally, advancements in railway infrastructure and a recognition of the long-term cost benefits associated with electric traction contribute to the increasing adoption of Thyristor Rectifier Electric Locomotives in North America.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Thyristor Rectifier Electric Locomotive is driven by stringent environmental regulations and the continent's commitment to reducing carbon emissions in the transportation sector. Government initiatives and incentives aimed at promoting sustainable mobility solutions, along with a growing emphasis on electrifying rail networks, further propel the adoption.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to increasing urbanization and the subsequent demand for sustainable and efficient public transportation solutions. Governments in the region are actively investing in railway electrification projects to reduce reliance on fossil fuels, mitigate environmental impact, and address congestion issues in growing urban areas. Additionally, advancements in thyristor rectifier technology, coupled with government incentives and initiatives promoting electrified transportation, further accelerate the adoption of electric locomotives.

Furthermore, the rest of the world's Thyristor Rectifier Electric Locomotive market is divided into the Middle East, Africa, and Latin America. This growth is attributed to a growing focus on sustainable infrastructure development and the electrification of transportation systems. Governments in the MEA region are increasingly investing in railway electrification projects to enhance energy efficiency, reduce environmental impact, and meet climate goals.

Key Findings of the Study

• The global Thyristor Rectifier Electric Locomotive market is expected to reach USD 1 billion by 2032, at a CAGR of 5.40% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the increasing urbanization, a focus on sustainable and efficient public transportation, and government initiatives promoting electrification to address environmental concerns.


• Based on component, the traction motor segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.


• Hitachi Ltd., Mitsubishi Electric Corporation, Siemens AG, GE Transportation, Alstom SA, CRRC Corporation Limited, General Electric Company, Hyundai Rotem Company, Toshiba Corporation, ABB Ltd.