The Global Train Battery Market was worth US$ 0.49 billion in 2022 and is anticipated to reach a valuation of US$ 0.66 billion by 2028 and is predicted to register a CAGR of 5.27% during 2023-2028.
The need for autonomous trains for freight passengers is projected to extend because the technology becomes commercially viable. Because the safety system in autonomous trains requires additional power, the demand for batteries is projected to extend during the outlook period. The train battery showcase is essentially determined by the expanding population, which has prompted interest in rail transport and railway electrification over the globe.
Market Drivers:
Developing interest in trains with low support and developing charge of trains is boosting the development of the global train battery market. Autonomous trains are furnished with cutting-edge highlights including mechanized entryways, security frameworks, data frameworks, and effective lighting. These highlights require high-power prerequisites, which are fuelling interest in the development of the worldwide train battery business. Furthermore, these trains request steady power flexibly; in this way, the interest in the progressed and improved battery is developing. This interest in the train battery is boosting the development of the market. The demand for fast trains has increased throughout the planet. The advantages of a high-speed train network like a short time period, energy efficiency with fewer carbon emissions, and luxury and safety have attracted several countries and passengers.
Market Restraints:
On the other hand, high infrastructure prices and government budget constraints have limited the employment of a fast train network in countries like Portugal and Mexico. In 2018, Portugal cancelled the fast train project due to the country’s inability to take a position and debt. Moreover, Mexico had also suspended a high-speed train project in the past. External factors like land acquisition, air, and sound pollution, and heating may further hinder the expansion of the high-speed train market. While developing countries like India, Turkey, etc., decide to modify the prevailing tracks, they're unable to take a position in new tracks and infrastructure because of the constraints in budget. The expenses related to the infrastructure are restricting the expansion of high-speed train networks in these countries.
Market Recent Developments:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
5.27% |
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Segments Covered |
By Locomotive Type, Battery Type, Technology, Application, Advanced Rail Systems, and Region. |
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Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
CRRC Corporation Limited, Alstom, Siemens Mobility, Bombardier Transportation, General Electric, Hyundai Rotem, Kawasaki Heavy Industries, Trinity Rail Group, Stadler Rail AG, and Others. |
Market Segmentation:
The lithium-ion battery is anticipated to develop as the rapid-increasing battery type, while the demand for a lead-acid accumulator is projected to stay stagnant during the forecast period.
The lithium-ion battery has the biggest share of the train battery market. Also, various countries like Russia, the UK, France, and Germany have started shifting toward lithium-ion batteries in various trains due to better density, efficiency, and longer life. As these batteries also are maintenance-free, operational costs are decreased. Most of the massive train networks around the world are projected to shift for these batteries during the outlook period. Regulatory bodies also are projected to play a serious role during this shift as they set the standards for the batteries that will be utilized in trains. As they provide tremendous advantages over other batteries, lithium-ion batteries are estimated to possess the biggest portion of the global train battery market throughout the projection period.
Starter batteries in trains give the capacity to play out a few pre-start capacities, for example, controlling up hydraulic pumps, air blowers, and brake systems mandatory for smooth motor turnover with no harm to motor parts. The developing interest in trains in creating nations, for example, China and India augur well for the train battery market. China is wanting to have 45,000 km of rapid rail arranged by 2025. India is chipping away at different metros, monorails, and fast trains across numerous urban areas. The interest in trains is consequently anticipated to increase during the forecast period. This would build interest in starter batteries making them the quickest-developing fragment of the train battery industry by application.
Market Reginal Analysis:
The Global Train Battery Market Report includes the segmentation of regions:
Asia Pacific is projected to be the most essential train battery market in 2018. Market growth in the region is often attributed to the massive population and extensive rail networks. Ongoing projects like the Mumbai-Ahmedabad bullet will aid the expansion of the train battery market within the region. The Train battery marketplace for bullet trains in the Asia Pacific region is predicted to rise at a CAGR of about 8.00% over the foreseen period. Indian Railways is also aiming to develop semi-luxury passenger trains, metros, and high-speed trains. Hence, a rise in the number of passenger trains in the Asia Pacific area will drive interest in train batteries in the future.
Market Key Players:
Frequently Asked Questions
The Global Train Battery market is expected to grow with a CAGR of 5.27% between 2023-2028.
The Global Train Battery Market size is expected to reach a revised size of US$ 0.66 billion by 2028.
CRRC Corporation Limited, Alstom, and Siemens Mobility are the three Train Battery Market key players.
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