Siemens sees the rail market bouncing back from a coronavirus slump, aided by an international push to slash carbon-dioxide emissions from transport. The global market for trains and related infrastructure will expand by a quarter over the next three years to exceed pre-coronavirus levels, Michael Peter, who heads the German engineering giant’s mobility unit, said in a phone interview. Rising government spending to cut transport emissions is expected to drive the gains after a difficult year for the sector, Peter said. The European Union, one of the world’s biggest train markets, on Thursday announced it will intensify efforts to cut greenhouse gas emissions by 2030, a move that’s expected to favor rail-equipment manufacturers.
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