New York, United States , June 11, 2024 (GLOBE NEWSWIRE) -- The Global Train Battery Market Size is to Grow from USD 525.7 Million in 2023 to USD 850.7 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 4.93% during the projected period.
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Train battery states to batteries used in trains for several applications ranging from illumination to impulsion. Growing investments in the electrification of railways around the world are estimated to increase the sales of train batteries over the coming years. Furthermore, rising demand for fast trains and the growing use of motors in trains for impulsion are also projected to endorse the adoption of train batteries in the long run. The introduction of novel government initiatives and funding to provision the electrification of trains will also aid train battery market expansion going onward. Furthermore, across the world, the passenger network in the railways has observed a quadruple surge due to development in the railway network by the regional government and cost affordability offered by railway transportation. Moreover, the demand for escalating the railway network suffuses the implementation potential of metros, passenger coaches, and trams obtainable with viable heating, ventilation, and air conditioning (HVAC)units to preserve a pleasant ambient temperature. However, the high infrastructure costs and budgetary of the high-speed train network and capital investment will throttle train battery growth during the forecast period. The extensive utilization of hybrid and hydrogen fuel cell trains, as well as surges in battery capacity and installation necessities, are posturing substantial challenges to the growth of the train battery market.
Browse key industry insights spread across 250 pages with 115 Market data tables and figures & charts from the "Global Train Battery Market Size, Share, and COVID-19 Impact Analysis, By Battery Type (Lead Acid, Nickel Cadmium, and Lithium Ion), By Locomotive (Diesel, Electric, and Hybrid), By Application (Starter Battery, Auxiliary Battery, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The lithium-ion segment is anticipated to hold the greatest share of the global train battery market during the projected timeframe.
Based on the battery type, the global train battery market is divided into lead acid, nickel cadmium, and lithium-ion. Among these, the lithium-ion segment is anticipated to hold the greatest share of the global train battery market during the projected timeframe. This is attributed to the lithium-ion batteries that especially shape the market. Their larger energy density and rapid charging abilities allow electric trains to cover significant distances, addressing range limitations and improving the viability of electrified rail systems
The hybrid segment is anticipated to grow at the fastest pace in the global train battery market during the projected timeframe.
Based on the locomotive, the global train battery market is divided into diesel, electric, and hybrid. Among these, the hybrid segment is anticipated to grow at the fastest pace in the global train battery market during the projected timeframe. This is attributed to the hybrid trains utilizing batteries for emergency braking, train lighting, train air conditioning, connecting pantographs, railway signaling, and telecommunications, which propel the train battery market growth
The auxiliary battery segment is predicted to hold the greatest share of the train battery market during the estimated period.
Based on the application, the global train battery market is divided intostarter batteries, auxiliary batteries, and others. Among these, the auxiliary battery segment is predicted to hold the greatest share of the train battery market during the estimated period. This is attributed to the auxiliary batteries being vital for supporting various onboard functions such as lighting, communication, ventilation, and safety systems.
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Asia Pacific is expected to hold the largest share of the global train battery market over the forecast period.
Asia Pacific is expected to hold the largest share of the global train battery market over the forecast period. This is attributed to Asia Pacific, swift urbanization, and huge investments in high-velocity train systems propelling the demand for effective battery-powered trains. Asia Pacific is the largest home for the railway network keeping the global economy way gaining with its freight and logistic transportation and passenger traffic growth.
North America is predicted to grow at the fastest pace in the global train battery market during the projected timeframe. This is attributed to North America, with the U.S. and Canada investing in technologies that encourage the utilization of lithium-ion batteries in locomotives. Furthermore, North America is growing at the fastest pace in the market owing to high technological adoption in the market and highly emerged infrastructure capabilities in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Train Battery Market include Enersys, Exide Industries Ltd, Saft, Amara Raja Group, GS Yuasa International Ltd., AEG Power Solutions, East Penn Manufacturing Company, First National Battery, Furukawa Electric Co. Ltd, Hitachi Rail Limited, HOPPECKE Batteries GmbH & Co. KG, Hunan Fengri Power Electric Co. Ltd, Power & Industrial Battery Systems GmbH, SEC Battery, Microtex Energy Private Limited, and others.
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Recent Developments
- In April 2023, EnerSys attained Industrial Battery and Charger Services Limited (IBCS) founded in the UK to fortify its motive power service delivery in the UK. The acquisition is a planned operation by EnerSys expected to enlarge the scope of its motive power facilities and stimulate its position inside the UK market.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Train Battery Market based on the below-mentioned segments:
Global Train Battery Market, By Battery Type
- Lead Acid
- Nickel Cadmium
- Lithium Ion
Global Train Battery Market, By Locomotive
- Diesel
- Electric
- Hybrid
Global Train Battery Market, By Application
- Starter Battery
- Auxiliary Battery
- Others
Global Train Battery Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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