China gets 10% of global locomotive market
China’s railway locomotive exports accounted for 10 percent of global market share in 2014, according to the vice-minister of the National Development and Reform Commission.
Total exports of locomotive s hit $4 billion in 2014 and major markets include Asia, South Africa and Latin America, said Wang Xiaotao.
Asian players such as Japanbased Hitachi Ltd’s Hitachi Rail and South Korea-based Hyundai Motor Co’s Hyundai Rotem have been able to gain a slice of the market, according to analysts.
China exported 26.77 billion yuan ($4.36 billion) worth of railway equipment last year, surging 22.6 percent year on year, according to data from the General Administration of Customs. (Photo 2)