Train Battery Market by Type & Technology (Lead-acid Tubular, VRLA, Conventional; Ni-Cd Sinter, Fiber, Pocket, & Li-ion; LFP, LTO), Advanced Train (Fully Battery-Operated and Hybrid), Rolling Stock Type, Application and Region - Global Forecast to 2030
[326 Pages Report] The train battery market is projected to grow from USD 277 million in 2023 to USD 378 million by 2030 at a CAGR of 4.6% during the forecast period. The train battery market growth is expected due to several factors, such as - the growing development of high-speed trains and metros and the expansion of railway networks. The rail sector’s emission regulations and high energy consumption remain major challenges. Energy storage systems such as batteries are expected to reduce the energy demand and thus reduce overall operational costs. These factors will contribute to the increased demand for train batteries in developed and developing countries.
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Market Dynamics
DRIVER: Growth in adoption of autonomous and high-speed railways
Power lines generally power high-speed rail and are the fastest ground-based method of commercial transportation. According to the US Department of Energy, a conventional passenger rail carries 2.83 times as many passengers per hour per meter width as a road. As of 2022, more than 44 countries worldwide have under construction or operational high-speed rail lines, as opposed to 16 in 2017. The High-speed railway network had grown to ~59,000 km in 2022 as against 44,000 km in 2020. Hence, for performance improvement, many energy-saving and storage systems are utilized. For example, regenerative braking techniques are adapted to convert braking energy into electricity and store it onboard energy storage systems.
In addition to this, many rolling stock manufacturers are focusing on building autonomous trains around the world. For instance, in June 2023, Hitachi Rail completed the first phase of Honolulu’s ‘Skyline,’ the US's first fully autonomous metro system.
Thus, Adapting batteries for high-speed railways as well as partial and fully autonomous train systems holds the potential to lower operational and capital expenses. The funds saved through this adaptation can be redirected to offset the extra financial requirements associated with project implementation and to encourage further research and development efforts.
List of Semi-autonomous and autonomous Metros
Country |
Train Type |
Autonomous Level |
Name of System |
Year |
Turkey |
Metro |
Semi-Autonomous |
Istanbul Metro |
January, 2023 |
Brazil |
Metro |
Fully Autonomous |
São Paulo Metro |
December, 2022 |
Canada |
Metro |
Fully Autonomous |
REM (Réseau Express Metropolitain) |
July 2023 (Partially opened; rest of the line under construction) |
Australia |
Metro |
Fully Autonomous |
Sydney Metro |
December 2022, 20 Metros are in operation. The remaining three will be in operation by mid of 2024 |
Germany |
Metro |
Fully Autonomous |
Montreal Metro |
July 2023, 80 Metro is in operation. |
China |
Metro |
Fully Autonomous |
Shanghai Metro Line 14 |
December 2021 |
India |
Metro |
Fully Autonomous |
Bengaluru Metro |
October 2023 |
RESTRAINT: High capital investment and operating cost of the high-speed rail network
The benefits of a high-speed train network, such as short travel time, energy efficiency with fewer carbon emissions, and comfort and safety, have been incentivized in several countries for popularity. However, the high infrastructure cost and government budget constraints have hampered the adoption of high-speed train networks in various emerging economies, such as Brazil, South Africa, Malaysia, the Philippines, Mexico, and Indonesia.
In october 2021, it is reported that the California bullet train was facing potential cost increases of at least one billion dollars, proposed by its contractors. These ongoing escalations in expenses, coupled with the likelihood of encountering similar issues in the coming years, exacerbate the already troublesome financial situation of the USD 100-billion project. In March 2021, Malaysia paid Singapore nearly USD 76.30 million (equivalent to Singapore Dollar 102.8 million) as a settlement for canceling the Kuala Lumpur-Singapore High-Speed Rail (HSR) project that was planned between the two countries.
Meanwhile, in the UK, the completion timeline for the high-speed rail line to Birmingham has recently been extended to 2031, and for the Manchester/Leeds branch, to 2040. Furthermore, the projected cost of the project has nearly doubled from its initial budget of USD 65 billion to approximately USD 130 billion due to elevated costs and environmental considerations. Indonesia also suspended a 150 km long high-speed train project back in 2016. As a result, the substantial infrastructure costs are anticipated to impede the growth of high-speed train networks in emerging economies, consequently affecting the demand for train batteries.
Hence, the high-speed rail network is witnessing sluggish growth due to the high investment costs, especially in developing economies. According to the International Energy Agency (IEA) report, rail networks have not increased significantly during the last 20 years. As a result, there are only a few high-speed trains. Therefore, the demand for train batteries is expected to be affected owing to the slow growth rate in the expansion of rail networks.
OPPORTUNITY: Expansion of IoT, AI, and DAS technologies
The railway sector has integrated cutting-edge technologies like the Internet of Things (IoT), artificial intelligence (AI), deep learning, and Distributed Antenna Systems (DAS) to boost operational efficiency and elevate the quality of the passenger journey. These enhancements in resource management, passenger satisfaction, and decision-making, coupled with the optimization of onboard equipment like Air Conditioning Systems (ACS), heaters, braking systems, and other onboard devices, are anticipated to drive the wider acceptance of train batteries.
The introduction of multiple intelligent infrastructure initiatives within rail networks is projected to promote the utilization of IoT, AI, and deep learning in the railway industry. As an illustration, as reported by IOT Times, in 2019, Network Rail initiated the Intelligent Infrastructure (II) program with the aim of transforming data into smart insights, ultimately enhancing the quality of services offered to both passenger and freight customers.
The II program leverages the data captured by its sensors and sends it back to the central cloud platform for processing. Data consolidated by workstreams on Network Rail’s cloud platform is uploaded to Microsoft’s Azure Cloud, where AI algorithms turn the information into actionable predictive maintenance schedules. Moreover, many companies are focusing on developing IOT-enabled battery voltage monitoring systems for different rolling stock. For instance, Stimio has developed a battery voltage monitoring system based on a certified rail solution. Railnode boxes are linked directly to the locomotive’s battery system, continuously gauging and overseeing voltage levels. Immediate alerts are triggered when voltage readings fall beneath a predetermined critical threshold.
Thus, the growing implementation of IoT, AI, deep learning, and DAS is expected to improve travel time and passenger experience. Since these systems are heavily dependent on electricity, batteries would become a more reliable and stable source for power backup purposes. The adoption of IoT and DAS is projected to drive the market for train batteries in the medium term.
CHALLENGES: Technical Challenges related to lead-acid and lithium-ion batteries.
Rail batteries should have extended durability and quick charging capabilities. Within the rail sector, lead-acid and Nickel Cadmium (Ni-Cd) batteries find widespread use. These batteries present challenges related to disposal due to their toxic chemical composition. Furthermore, they exhibit a substantial self-discharge rate and a limited charge cycle. While Ni-Cd batteries offer a 60% energy capacity advantage over other battery types, they are susceptible to a recharging issue known as the "memory effect." The memory effect occurs when the battery recalls its prior discharge performance and subsequently recharges to that level, leading to a decrease in overall performance.
Enhancing the cell's capacity has the potential to boost battery performance; however, it may come at the expense of compromising the safety of the entire system. Furthermore, rail batteries are a type of electrochemical battery that relies on chemical reactions to generate an electric current. Given that temperature variations can impact all chemical reactions, fluctuations can have adverse effects on the performance of rail batteries. Cold temperatures, in particular, can lead to a decrease in cell performance, consequently impacting the specific energy gradient of the battery. Lithium-ion batteries operate with better efficiency against temperature changes, but the heating can reduce the capacity of the batteries over time. Further, lithium-ion (Li-ion) batteries require lithium mining, which has brought forward many environmental challenges. The manufacturing cost of Li-ion batteries is also 40% higher than Ni-Cd batteries.
Hence, as the adoption of batteries for both traction and auxiliary purposes continues to grow, battery producers are anticipated to encounter obstacles related to battery design, cost efficiency, and the weight of these batteries. Moreover, manufacturers are dedicating their efforts to enhancing battery technology to minimize energy losses, enhance onboard charging methods, and decrease downtime resulting from discharges.
Train Battery Market Ecosystem:
The ecosystem analysis highlights various players in the train battery market ecosystem, primarily represented by Train Battery Manufacturers, Raw material/component manufacturers (tier I), Train Manufacturers, Service and repair providers, and Regulatory Bodies.
Based on the Rolling Stock Aftermarket, The Passenger coaches segment is anticipated to dominate the battery aftermarket.
Passenger coaches and lead acid battery types are expected to be the largest train battery aftermarket owing to its largest fleet among locomotives and multiple units worldwide. Train battery aftermarket is still dominated by VRLA battery, which is a lead-acid battery type. It is a conventional battery technology with a unique design to stop the leakage of hydrogen and oxygen gas during charging and discharging. Because of this, they are both safer and more effective than conventional lead-acid batteries. Due to the lower cost and adequate performance delivery, OEMs initially preferred it when they bought and found a replacement with older ones. However, in the coming years, nickel-cadmium is expected to gain momentum as some older rolling stock fleets are getting upgraded with Ni-Cd batteries for improved performance and cost benefits in the long run. This trend is more prevalent in Europe and North American regions. Furthermore, technological developments, lowering production costs, and declining battery prices would prompt the shift toward new-age batteries. Various government initiatives to electrify rail networks and the growing popularity of retrofitting locomotives with the latest battery solutions would subsequently thrive to boost train battery aftermarket demand.
The fully Battery-operated trains segment of the train battery market is projected to witness the highest CAGR during the forecast period.
During the review period, battery-operated trains would grow at the highest CAGR within the advanced train battery market. These trains are usually installed with 2-5 MWh of battery capacity, and few can also be offered with up to 9 or 14 MWh of battery depending upon the heavy loads it need to pull on a non-electric track. These advanced trains are powered by lithium-ion batteries, gradually gaining momentum in the railway industry. For instance, Wabtec Corporation launched the world’s first battery-electric heavy haul locomotive, named FLXdrive, in September 2021, designed with 500 lithium-ion battery modules that have cut fuel consumption by 11%. In August 2023, Alstom and VMS unveiled its fully battery-operated train with a range of 120 km. Lithium Iron Phosphate (LFP), Nickel Manganese Cobalt Oxide (NMC), and Lithium Titanate Oxide (LTO) are the prominent lithium-ion battery technologies that are preferred to run the battery-operated locomotives. With continuous investments, rising strategic collaborations, and new product developments, the market for train batteries in fully battery-powered trains is expected to showcase prominent growth in the coming years.
The lithium battery segment in terms of volume is projected to grow at the fastest CAGR by 2030 in the train battery OE market.
Lithium is projected to grow at the fastest rate for the train battery market during the forecast period. Lithium is prominently used in metro trains and high-speed railway applications. Lithium batteries are lightweight and have higher energy density than NiCd and lead-acid batteries, which makes them an ideal choice for traction purposes enabling reduced weight and increased energy efficiency. This enhances acceleration and deceleration capabilities, improving operational performance and shorter travel times. Although this technology is in its early stages of development based on significant investments and technological advancement, the demand for lithium batteries is growing for traction and auxiliary functions. For instance, in July 2020, Central Japan Railway Co. started operating its N700S bullet train commercially. This train is equipped with lithium-ion self-propulsion battery technology, which begins during power shortages. Till 2022, there were 40 N700S trains in operation. Major rolling stock manufacturers such as Alstom and Siemens use lithium batteries in the newly developed fast trains as a primary power source. Thus, with the advancements in battery technology, particularly lithium-ion, the demand for battery-based energy storage systems used in trains is expected to rise significantly in the coming years.?
The Asia Pacific market is projected to contribute the largest share of the train battery market.
Asia Pacific holds the maximum share in the global train battery market, in terms of value, in 2022. The higher demand is mainly due to the extensive railway network for most Asian countries. According to CEIC statistics, in 2022, China had more than 150,000 km of track length, India had approximately 128,305 km, Japan had 27,520 km, and South Korea had a track length of about 4,128 km. Along with an extensive railway network, the region has been experiencing an expansion of the network, electrification of lines, and rapid urbanization, leading to increased passenger and freight transportation. Approximately 80,000 km of rail track out of 1,15,000 km of track is electrified in China, considered the world’s largest electrification. In China, the government plans to extend its rail network by adding 40,000 km of track length by 2025 to deploy passenger trains. India is one of the fastest-growing train battery markets for electric locomotives due to the increasing investments by the Indian Government in rail electrification. According to the Indian Railways, approximately 90% of its broad-gauge routes have completed electrification. Out of the 65,350 km broad gauge route, 59,046 Km route had been electrified till June 2023. The number of electric tracks is expected to grow with the increase in investments in rail infrastructure.
Furthermore, China and Japan have a growing demand for nickel-cadmium and lithium batteries owing to their advantages over lead-acid batteries (in terms of energy density, maintenance, reliability, and efficiency). Nickel-cadmium batteries are widely accepted in various rolling stocks, such as locomotives, metros, light rail, trams, and high-speed trains. Lithium batteries are gaining acceptance in metros and high-speed trains for traction applications.
Additionally, Asian countries are at the forefront of adopting high-speed, suburban, and urban transit trains. For instance, in India, the Mumbai-Ahmedabad bullet train corridor trials will be conducted between Gujarat’s Bilimora and Surat in 2026. Indian Railways is also expected to launch semi-luxury passenger trains, metros, and high-speed trains. Thus, the rising need for electric locomotives, EMUs, and passenger coaches, and ongoing developments and progress in high-speed train projects will likely witness a higher demand for train batteries in conventional and advanced trains than in other regions. A strong presence of global train battery manufacturers like Saft and EnerSys, along with regional players such as Exide Industries (India), Amara Raja Batteries (India), GS Yuasa Corporation (Japan), Furukawa Battery Co., Ltd. (Japan), Hitachi Rail (Japan), Toshiba (Japan), Hunan Fengri Power & Electric Co. Ltd (China), and China Shoto (China) would excel the train battery market in the Asia Pacific region.
Key Market Players & Startups
The train battery market is dominated by players such as Saft (France), Enersys (US), Exide Industries (India), GS Yuasa Corporation (Japan), Amara Raja Batteries Ltd (India), Hoppecke Batterien Gmbh & Co. Kg (Germany), SEC Battery (UK), First National Battery (South Africa), Power & Industrial Battery Systems GmbH (Germany), Exide Technologies (US) and Toshiba Corporation (Japan). These companies have developed new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the growing train battery market.
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Report Metric |
Details |
Market size available for years |
2018–2030 |
Base year considered |
2022 |
Forecast period |
2023–2030 |
Forecast volume |
Units |
Forecast value |
USD Million |
Segments Covered |
By Battery Type, Battery Technology, Application, engines/head, application, advanced train type, aftermarket by rolling stock, aftermarket by battery type, application, and region, and OE by Region |
Geographies Covered |
Asia Pacific, Europe, North America, and the Rest of the World |
Companies Covered |
EnerSys (US), Exide Industries (India), Saft (France), Amara Raja Batteries (India), and GS Yuasa Corporation (Japan) (Total of 25 companies) |
The study categorizes the train battery market based on by battery type, technology type, application, advanced train, rolling stock, Engines/head, and By application, and region.
By Battery Type
- Lead Acid Battery
- Nickel Cadmium Battery
- Lithium Ion Battery
By Battery Technology
- Conventional Lead Acid Battery
- Valve Regulated Lead Acid Battery
- Gel Tubular Lead Acid Battery
- Sinter/PNE Ni-Cd Battery
- Pocket Plate Ni-Cd Battery
- Fiber/PNE Ni-Cd Battery
- Lithium Iron Phosphate (LFP)
- Lithium Titanate Oxide (LTO)
- Others
By Engines/Head
- Diesel Locomotives
- Diesel Multiple Units (DMUs)
- Electric Locomotives
- Electric Multiple Units (EMUs)
By Application
- Metros
- High-speed Trains
- Light Rails/Trams/Monorails
- Passenger Coaches
By Application
- Starter Battery
- Auxiliary Battery
By Advance Train
- Hybrid Trains
- Fully Battery-operated Trains
By Region
- Asia Pacific
- Europe
- North America
- Rest of the World
Recent Developments
- In April 2023, EnerSys acquired Industrial Battery and Charger Services Limited (IBCS) based out in the UK to strengthen its motive power service offerings in the UK. The acquisition is a strategic maneuver by EnerSys aimed at broadening the scope of its motive power services and fortifying its position within the UK market.
- In January 2023, EnerSys and Verkor SAS, a European battery technology company, initiated a non-binding Memorandum of Understanding to investigate establishing a lithium battery gigafactory in the US. This upcoming factory will provide a growth opportunity for both companies and allow EnerSys to optimize cell sizing in battery solutions for its customers.
- In September 2022, Saft formed a supplier contract with Alstom to deliver MRX batteries for Grand Paris Express backup power applications. Saft has successfully delivered the initial ten battery systems intended for five trains, which are part of the overall requirement of up to 183 trains essential for the completion of three new lines (lines 15, 16, and 17) by 2030.
- In May 2022, Saft, a subsidiary of TotalEnergies, started the supply of backup battery systems for Alstom’s Metropolis metro trains, which will be used on lines 15, 16, and 17 of the Grand Paris Express projects, the most extensive transportation initiative in Europe.
- In March 2022, Exide Industries Ltd. entered a technological partnership with SVOLT Technology Ltd., China. The partnership will provide the necessary technology and know-how to establish India’s lithium-ion battery production unit.
- In June 2020, Amara Raja Batteries Ltd. entered into a technological partnership with Gridtential Energy, Inc. to develop bipolar battery technology. Under the agreement, both companies will work on developing Silicon Joule bipolar reference batteries to determine improvements in cycle life, energy density, battery efficiency, charging rates, and manufacturability.
Frequently Asked Questions (FAQ):
What is the current size of the global train battery market?
The global train battery market will be USD 277 million in 2023.
Which adjacent market will be impacted due to the train battery market?
Sensor manufacturers, Battery Monitoring System manufacturers, cell connector manufacturers, battery container manufacturers, and battery thermal management system suppliers will have a positive impact due to growing sales of train batteries worldwide.
Who are the winners in the global train battery market?
Saft (France), Enersys (US), Exide Industries (India), GS Yuasa Corporation (Japan), Amara Raja Batteries Ltd (India), Hoppecke Batterien Gumby & Co. Kg (Germany)are the leading players in the global train battery market.
What are the key market trends impacting the growth of the train battery market?
The improvements in battery technologies, such as the development of various battery chemistries to increase energy density and power output, the growing development of high-speed train and bullet trains, and increasing government regulations related to emissions, will drive the demand for train batteries in the forecast period.
Which are the prominent battery technologies preferred in lead-acid battery types in train battery market?
Valve regulated lead-acid batteries and gel tubular lead-acid batteries are the two prominent battery technologies preferred for various railway application owing to low maintenance, and high energy density compared to conventional lead-acid battery technology.
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The study involved four major activities in estimating the current size of the train battery market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.
Secondary Research
The secondary sources referred to for this research study include corporate filings (such as annual reports, investor presentations, and financial statements), and trade, business, and industry associations. Secondary data has been collected and analyzed to arrive at the overall market size, which is further validated by primary research.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of the train battery market through secondary research. Several primary interviews have been conducted with market experts from both, demand- (locomotive & rolling stock manufacturers) and supply-side (battery manufacturers) across major regions, namely, North America, Europe, Asia Pacific, and RoW. Approximately 60%, 20%, and 20% of primary interviews were conducted from the supply-side, demand-side, and others respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the primary research, we have strived to cover various departments within organizations, such as sales, operations, and administration, to enable a holistic approach in our report.
After interacting with industry experts, we also conducted brief sessions with highly experienced independent consultants to reinforce the findings through the primaries conducted by us. This, along with the opinions of in-house subject matter experts, led us to the findings that have been delineated in this report.
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Market Size Estimation
The study uses the bottom-up approach to estimate the market size and forecast the same for segments such as train type and battery type for each country considered under the scope of the study. The study covers the impact of the COVID-19 pandemic on the demand for various train types. The country-level forecast of train types is based on various secondary sources to understand the recovery period of the market and validate the same from industry experts. Once the base numbers were calculated, each train type was studied for the penetration of battery types in the same for all countries under the scope of the study. Then the Average Selling Price (ASP) was multiplied by each battery type for all train types to arrive at the country-wise value of the train and battery types. These numbers when collated represent the regional and global market size and forecast (volume as well as value) for train and battery types.
The top-down approach was used to estimate and validate the market size of the segment – battery technology. The market for battery type was arrived at using the bottom-down approach to estimate the battery technology market. For instance, the market for the three types of lead-acid batteries (conventional lead-acid, VRLA, gel tubular) was arrived at using the base number of lead-acid batteries. This is done by referring to multiple secondary sources and validating the penetration of battery technologies (in each battery type) from various industry experts.
Bottom-up approach: Train Battery market, by Battery type and region
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Top-down approach: by Battery Technology, Application
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides
Market Definition:
According to Saft, rail batteries are an important component of energy storage systems that are used for end-use applications such as starters, lighting, air conditioning, access mechanisms, water-filling systems, isolators, connectors, and battery management control (BMC) systems.
According to Exide Industries, The Train battery is securely housed within a battery enclosure located beneath the coach. In railway application, the battery operates in a dusty environment, experiences moderate to high levels of vibration, encounters fluctuating temperatures, has limited windows for inspection and maintenance, and operates continuously in a charge-discharge cycle. This represents the most rigorous evaluation of a battery's performance and longevity, emphasizing the critical significance of reliability.
Key Stakeholders:
- Sales Head
- Marketing Head
- Design Manager
- R&D Head
Report Objectives
-
To define, segment, analyze, and forecast (2023–2030) the train battery market size, in terms of volume (units) and value (USD million) based on:
- OE By Battery Type (Lead-Acid, Nickel-Cadmium, and Lithium-ion)
- OE By Battery Technology (Conventional Lead-Acid, Valve Regulated Lead-Acid, Gel Tubular Lead-Acid, Sinter/PNE Ni-Cd Battery, Pocket Plate Ni-Cd Battery, Fiber/PNE Ni-Cd Battery, Lithium Iron Phosphate, Lithium, Titanate Oxide, and Others)
- OE By Application (Starter, and Auxiliary)
- OE By Engines/Head (Diesel Locomotive, Diesel Multiple Units (DMUs), Electric Locomotive, and Electric Multiple Units (EMUs))
- OE By Application (Metro, High-Speed Trains, Light Rail/ Trams/Monorail, Passenger Coaches)
- OE By Advanced Train Type (Fully Battery-Powered Train, and Hybrid Train)
- Aftermarket By battery type (Lead-Acid, Nickel-Cadmium)
- Aftermarket By application (Starter, and Auxiliary)
- Aftermarket By Rolling Stock (Locomotives, Multiple Units, and Passenger Coaches)
- Aftermarket By Region (Asia Pacific, Europe, and North America)
- OE By Region (North America, Europe, Asia Pacific, and the Rest of the World (RoW))
- To analyze the recession impact on the train battery market
- To understand the market dynamics (drivers, restraints, opportunities, and challenges) of the train battery market
-
To study the following with respect to the market
- Supply Chain Analysis
- Market Ecosystem
- Technology Analysis
- Trade Analysis
- Case Study Analysis
- Patent Analysis
- Buying Criteria
- Regulatory Landscape
- Bill of Material
-
To estimate the following with respect to the market
- Average Price Analysis
- Market Share Analysis
- To analyze the competitive landscape and prepare a competitive evaluation quadrant for the global players operating in the train battery market.
- To analyze recent developments, alliances, joint ventures, mergers & acquisitions, new product launches, and other activities carried out by key industry participants in the train battery market
Available Customizations
With the given market data, MarketsandMarkets offers customizations in accordance with a company’s specific needs.
The following customization options are available for the report:
Train Battery Market, By Application, By Rolling Stock
- Engine Starter
- Auxiliary Function
Note: The segment would be further segmented by region.
Train Battery Market, By Rolling Stock, By Battery Type
- Lead Acid
- Nickel-Cadmium
- Lithium-Ion
Note: The segment would be further segmented by region
US Train Battery Aftermarket, By Rolling Stock, By Battery Type
- Locomotives
- Multiple Units
- Passenger Coaches
Growth opportunities and latent adjacency in Train Battery Market
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