In 2023, the number of locomotives in the US stood at approximately 26.85 thousand. Forecasts indicate a steady annual increase, with numbers expected to reach 27.5 thousand by 2028. The year-on-year growth rates from 2024 show a consistent upward trend of nearly 0.5% each year. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is projected to be around 0.47%.
Future trends to watch include technological advancements in locomotives, the impact of environmental regulations on fleet modernization, and potential shifts in transportation infrastructure funding which could both accelerate or decelerate growth.
