Train Battery Market Size to Surpass US$ 779.2 Million by 2030, Says The Brainy Insights

The Brainy Insights
The Brainy Insights

The rise in the adoption of high-speed autonomous railways drives the train battery market's growth. Various technologies like AI, DAS technologies, and IoT have been implemented, widening the opportunity for the train battery market to grow. The Asia Pacific emerged as the largest market for the global train battery market, with a 38% share of the market revenue in 2021.

Newark, Sept. 27, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global train battery market is expected to grow from USD 498 million in 2021 to USD 779.2 million by 2030, at a CAGR of 5.1% during the forecast period 2022-2030.

Train batteries are primarily used for stationary applications of the train or rolling stock. Rolling stocks of the batteries are used for lighting purposes, starting locomotive engines, and stationary applications, including emergency backup power for signal towers, railway crossings, and signaling systems. Increasing demand for electric and low-maintenance trains boosts the train battery market demand. Companies that manufacture train batteries provide a wide range of power supplies such as power supply for door control, onboard computer, lighting, air conditioning, ventilation, braking, communications, and engine starting. For instance, EnerSys manufactures batteries for industrial purposes and focuses on railways. The players are widening their product offerings resulting in the growth of the train battery market.

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Competitive Strategy

To enhance their market position in the global train battery market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

● In July 2019, the Japan railway company demonstrated its first fully battery-operated Shinkasen N700s train at a press event.

Report Scope & Segmentation:

Report Coverage

Details

Forecast Period

2022-2030

Forecast CAGR

5.1%

2030 Value Projection

USD 779.2 million

Base Year

2021

Train Battery Market Size in 2021

USD 498 million

Historical Data

2017-2020

No. of Pages

230

Segments Covered

Product Type, Locomotive, Application, Regions

Train Battery Market Growth Drivers

Increase in adoption of high-speed trains

Market Growth & Trends

The rising population and rapidly increasing urbanization increase the demand for high-speed trains. Furthermore, the increasing demand for comfort and luxury in trains and energy-efficient transport systems propels the market's growth. However, the requirement for high capital investment and high operating costs of the high-speed rail network restrains the growth of the train battery market. The development of hybrid rail systems and the development of high-speed trains in developing countries, along with the significant increase in autonomous trains, are expected to provide opportunities for the market's growth during the forecast period. The covid-19 pandemic posed a great challenge for the market's growth as several manufacturing units were put on hold, and lockdown restrictions were imposed to stop the spread of the disease. The raw materials supply chain also disrupted the market's growth to a greater extent.

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Key Findings

● In 2021, the lithium-ion battery segment dominated the market with the largest market share of 32% and market revenue of 159.3 million.

The product type segment is divided into lead-acid, nickel-cadmium, lithium-ion, and others. In 2021, the lithium-ion segment dominated the market with the largest market share of 32% and market revenue of 159.3 million. Lithium-Ion batteries are compact in design, propelling the segment's growth.

● In 2021, the hybrid segment accounted for the largest share of the market, with 43% and market revenue of 214.1 million.

The locomotive segment is divided into diesel, electric, and hybrid. In 2021, the hybrid segment accounted for the largest share of the market, with 43% and a market revenue of 214.1 million. Batteries are widely used in hybrid trains for train lighting, emergency braking, air conditioning, railway signaling, connecting pantograph, and telecommunications, which drive the segment's growth.

● In 2021, the train lighting segment accounted for the largest share of the market, with 23% and a market revenue of 114.5 million.

The application segment is divided into train lighting, train air conditioning, electric locomotive, railway signaling and telecommunications, and engine starting. In 2021, the train lighting segment accounted for the largest share of the market, with 23% and a market revenue of 114.5 million. Train batteries are widely used for making many advancements to trains, such as improved passenger experience and proper optimization of field equipment like ACs, heaters, and lights that drive the market's growth.

Regional Segment Analysis of the Train Battery Market

● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)

Among all regions, Asia Pacific emerged as the largest market for the global train battery market, with a market share of around 38% and 189.2 million of the market revenue in 2021. The train battery market in the region has been expanding due to countries such as China and India, which have the most extensive rail networks worldwide. Furthermore, the rising demand for improved facilities for the passenger trains in countries like India and China also propelled the market's growth in the region. In Japan, high-speed metro trains and rails are the preferred modes of transport that drive the market's growth in the region.

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Key players operating in the global train battery market are:

● EnergySys
● Exide Industries
● Saft
● Amara Raja Batteries
● GS Yuasa Corporation
● Hitachi
● CRCC Corporation Limited
● Alstom
● Stadler
● Hyundai Rotem

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global train battery market based on the below-mentioned segments:

Global Train Battery Market by Product Type:

● Lead Acid
● Nickel Cadmium
● Lithium-Ion
● Others

Global Train Battery Market by Locomotive:

● Diesel
● Electric
● Hybrid

Global Train Battery Market by Application:

● Train Lighting
● Train Air conditioning
● Electric Locomotive
● Railway Signalling and Telecommunications
● Engine Starting

About the report:

The global train battery market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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