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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%
The growth is influenced by factors such as rapid urbanization and growth in rail expansion spending. Along with these factors, the swiftness of rail travel and low operational cost compared to other modes of transport are driving governments all over the globe to invest in urban rail infrastructure.
New York, May 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Train Battery Market by Type & Technology, Advanced Train, Rolling Stock Type, Application and Region - Global Forecast to 2030" - https://www.reportlinker.com/p05594571/?utm_source=GNW
The expansion of the rail network is expected to lead to the demand for energy storage systems and hence is expected to propel the demand for train batteries during the forecast period.
Nickel-cadmium segment is expected to grow at the fastest CAGR by 2030, owing to enhanced high power density and less maintenance cost than lead-acid batteries, which presents considerable growth opportunities for battery manufacturers
The Nickel-cadmium batteries perform better than other batteries on variable loads at a diverse range of temperature.The nickel-cadmium battery requires lower maintenance than other batteries and is highly reliable.
Among the various types of nickel-cadmium batteries, sintered plate nickel-cadmium batteries are used for high power discharge applications such as aircraft turbine engines, diesel locomotives, etc.These batteries are used in DMUs and diesel locomotives to start engines and for the auxiliary functions of the trains because they have 50% higher energy density than pocket plate nickel-cadmium batteries.
Also, sinter nickel-cadmium batteries are more stable at higher temperatures than lead-acid batteries.The sinter/PNE nickel cadmium battery is projected to dominate the market in the Asia Pacific owing to its high energy density which makes it ideal for starting engines.
Since the Asia Pacific has a significant share of diesel locomotives, the demand for the sinter/PNE nickel-cadmium battery is expected to grow during the forecast period.
Lithium-ion battery segment is expected to be the fastest-growing segment throughout the forecast period owing to high density and maintenance-free, by technology
Advantages such as maintenance-free operation, ability to incorporate battery health tracking, high energy density, lighter weight, and compact design are projected to make the Lithium-ion battery segment the fastest-growing segment.Developed countries are expected to increase their adoption of Lithium-Ion batteries in rail transport faster as compared to emerging countries because of the regulations and the higher costs associated with adopting Lithium-Ion batteries.
Also, Lithium-Ion batteries are best suited for high-speed trains and 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.
Asia Pacific market is expected to hold the largest market share by 2030
The diesel engine retrofitting industry in the Asia-Pacific has witnessed significant year-on-year growth.As the region is the leading producer of rolling stock in the world it is expected to lead the train battery market.
The region has the largest rail network and has been experiencing rapid urbanization.Further, the national government have also announced initiatives toward the development of energy-efficient transportation.
Additionally, Asian countries are at the forefront of the adoption of high-speed trains, suburban trains, and urban transit trains, which is expected to make the region a leading market for railway batteries. Furthermore, several initiatives are being undertaken for the electrification and phasing out of diesel locomotives.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
• By Company Type: Supply-side– 60%, Demand-side- 20%, Others - 20%
• By Designation: C Level - 20%, Directors/Vice Presidents – 30% and Others – 50%
• By Region: Asia Pacific - 50%, Europe - 20%, North America - 20%, RoW-10%
EnerSys (US), Exide Industries (India), Saft (France), Amara Raja Batteries (India), and GS Yuasa Corporation (Japan) are the leading manufacturers of train batteries in the global market.
Research Coverage:
The study segments the train battery market and forecasts the market size based on Battery type (Lead Acid, Nickel Cadmium, Lithium ion), 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 Ion Battery), By Rolling Stock (Diesel Locomotives, DMUs, Electric Locomotives, EMUs, Metros, High-speed Trains, Light Trains/Trams/ Monorails, Passenger Coaches), By Application (Starter Battery, Auxiliary Battery (HVAC, Doors, Infotainment)), By Advance Train (Autonomous Trains, Hybrid Locomotives, Fully Battery Operated Trains) and region (Asia Pacific, Europe, North America and Rest of the World).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall train battery market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05594571/?utm_source=GNW
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