From a market size of USD 470.5 million in 2018, the train battery market is projected to reach USD 703.2 million by 2025, at a CAGR of 5.15%
NEW YORK, Oct. 18, 2018 /PRNewswire/ -- Increase in railway electrification, increasing demand for luxury and comfort applications, and growing high speed train projects are together expected to fuel the demand for the train battery market
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From a market size of USD 470.5 million in 2018, the train battery market is projected to reach USD 703.2 million by 2025, at a CAGR of 5.15%. Major factors driving the growth of this market include an increasing population that depends on rail transport. However, a major restraint for the train battery market is the high capital investments and operational costs required for the train and high-speed rail.
Lithium-Ion to be the largest battery type of the train battery market
The growth of lithium-ion battery can be attributed to the increasing demand for maintenance free battery for rail transport.The lead-acid battery is mainly used in rolling stocks at present.
However, during the projected period, as lithium-ion batteries become economical, the industry is projected to shift toward them. As a result, lithium-ion battery is projected to be the largest battery type of the train battery market.
Autonomous train is expected to be the fastest growing segment of train battery market
The autonomous trains are expected to be fully equipped with advanced features such as automated doors, infotainment systems, passenger information systems, and advanced lighting.These features have a continuous and high-power requirement.
This is projected to increase the demand for train batteries.
Asia Pacific to be the largest and fastest growing market for train batteries
The Asia Pacific region is estimated to dominate the train battery market and is projected to be the largest and fastest growing market during the forecast period.The market growth in the region can be attributed to the upcoming demand for trains in India and China.
The demand for bullet trains in the region is projected to grow at the fastest pace during the forecast period because of the growing population and increasing focus of the governments on reducing air pollution. This, in turn, would increase the demand for train batteries as the power requirement in bullet trains is significantly higher than other trains.
The study contains insights provided by various industry experts. The break-up of the primaries is as follows:
• By Company Type - Tier 1 – 30 %, Tier 2 – 40% and OEMs – 30%
• By Designation – C level – 40%, Director level – 30%, Others – 30%
• By Region – North America - 20%, Europe – 30%, APAC – 40%, RoW – 10%
The report provides detailed profiles of the following companies:
• EnerSys (France)
• Toshiba (Japan)
• Saft (Germany)
• Exide Industries (India)
• Amara Raja (India)
• Hoppecke (Germany)
• Hitachi (Japan)
Research Coverage
Train Battery Market by Battery Type (Lead Acid, Nickel Cadmium, Lithium ion), Battery Technology (Sinter PNE, Fibre PNE, Pocket plate, Gel tubular, VRLA, Conventional Lead Acid), Locomotive Type (Diesel Locomotive, DMU, Electric Locomotive, EMU, Metros, Bullet Train, Light Rail/Trams/Monorail, Passenger Coaches, Freight Wagon), Application (Engine Starting, Auxiliary functions), Advanced Trains (Autonomous train, Hybrid Locomotive, Battery powered train), by Region (Asia Pacific, Europe, North America and RoW)
Reasons to Buy the Report:
The report provides insights with reference to the following points:
• Market Development: The report provides comprehensive information about lucrative emerging markets. The report analyzes the markets for the global train battery market across regions.
• Product Development/Innovation: The report offers detailed insights into R&D activities, upcoming technologies, and new product launches in the global train battery market.
• Market Diversification: The report provides detailed information about untapped markets, investments, new products, and recent developments in the global train battery market.
• Competitive Assessment: The report provides an in-depth assessment of strategies, products, and manufacturing capabilities of leading players in the global train battery market.
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