According to a research report "Train Battery Market by Type & Technology (Lead Acid-Gel Tubular, VRLA, Conventional; Ni-Cd-Sinter, Fiber, Pocket, & Li-Ion), Advanced Train (Autonomous, Hybrid, Fully Battery-Operated), Rolling Stock Type, Application and Region - Global Forecast to 2030" published by MarketsandMarkets, the global train battery market size is projected to reach USD 758 million by 2030, from an estimated value of USD 518 million in 2022, at a CAGR of 4.9%.
Browse 290 market data Tables and 48 Figures spread through 280 Pages and in-depth TOC on "Train Battery Market by Type & Technology (Lead Acid-Gel Tubular, VRLA, Conventional; Ni-Cd-Sinter, Fiber, Pocket, & Li-Ion), Advanced Train (Autonomous, Hybrid, Fully Battery-Operated), Rolling Stock Type, Application and Region - Global Forecast to 2030"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/train-battery-market-6068646.html
The growth is influenced by factors such as growth in the rail network, strengthening emission norms and growing operating cost of the urban rail network is considered to be the largest drivers of the train battery market. The rapid urbanization and growing need for sustainable transport are expected to lead to the demand for energy storage systems and hence are expected to propel the demand for train batteries during the forecast period.
The Li-ion battery segment is expected to register the highest growth rate of 6.8% from 2022 to 2030
Li-Ion batteries as compared to other battery types are maintenance-free, have a longer life cycle, have higher energy density and are compact in design. Developments in lithium-ion batteries to enhance their performance is contributing to the increase in demand for lithium-ion batteries. The growth in adoption can also be attributed to the rising need of reducing weight of high-speed trains and their longer lifecycle. Also, Lithium and cobalt are primary constituents of Lithium-ion batteries which are abundantly found in China and as, China is the largest market for high-speed trains, the demand for Lithium-Ion batteries in the region is projected to grow during the forecast period.
Electric locomotive segment is expected to grow at the highest CAGR of 7.2% from 2022 to 2030
Electric locomotives derive their power directly from overhead electric lines. As they donot have to carry fuel with them like diesel locomotives, electric locomotives are lightweight and can travel faster. Electric locomotives are driven by electric motor which is above 90% efficient. Further, increasing use of regenerative braking and on-board battery system has been able to further improve power conversion efficiency. Hence, the growing use of auxiliary function batteries on Electric locomotives will drive the demand for train batteries in the forecast period.
The Asia Pacific is estimated to be the largest market
The train battery market in the Asia-Pacific has witnessed significant year-on-year growth. Asia-Pacific is the leading manufacturer of rolling stock and hosts manufacturing plants of leading rolling stock manufacturers such as Bombardier Transportation (India), Siemens Mobility (China), Alstom Transport (Singapore), the Stadler Rail AG(Taiwan) and, CRRC Corporation (China). Additionally, the expansion of high-speed rail networks in China, India, Japan, and South Korea is expected to drive the demand for train batteries in the region. Furthermore, developments such as diesel engine retrofitting and, electrification of the rail network will increase demand for train batteries for auxiliary functions.
The train battery market is led by globally established players such as EnerSys (US), Exide Industries (India), Saft (France), Amara Raja Batteries (India), and GS Yuasa Corporation (Japan).
Don’t miss out on business opportunities in Train Battery Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441