In 2023, China's import of non-electric rail locomotives and locomotive tenders stood at a significant level, reflecting robust demand. Forecast data indicates a gradual decline over the next five years, with a year-on-year decrease of approximately 11% from 2024 to 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is projected to be negative, emphasizing a downward trend.
Future trends to watch:
- Increased domestic production capacity might reduce reliance on imports, further impacting volumes negatively.
- Technological advancements and shifts towards alternative modes of transport could reshape market needs and consumption patterns.
