Product Code: RP-ID-10347541 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Automotive & Transportation |
Report ID: 10347541
Market Overview:
Global Train Battery Market by Battery Type (Lead Acid Battery, Nickel Cadmium Battery, Lithium Ion Battery), By 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
Global Train Battery Market was valued at USD 136 million in 2019 and is expected to grow with a CAGR of 5.9% over the forecast period 2020-2027. Power for trains previously was delivered by diesel engines but due to their high maintenance costs was not deemed economic. Even, their toxic emissions have not been deemed positive for the environment. Furthermore, their continuous use resulted in the need for rail electrification. The railway sector is one of the most productive forms of lowest emissions in the transport sector. Some of the developments that impact the outcome of the rail sector worldwide. Expansion on railway network and Emission regulations to increase the demand for energy-efficient transportation systems drives the market growth of train batteries globally. For instance, in 2019, the USA announced a plan for a national high-speed rail network to spend USD 240 trillion. The plan increases the annual expenditure for the construction of electrified rail by 2024 by USD 32 billion. However, the TGVs (Trains à Grande Vitesse) operate on the French high-speed rail network, which consists of over 2,800 km of Lignes à Grande Vitesse (LGV) that allow speeds of up to 320 km/h or 200 mph. SNCF, France's national rail operator, operates this intercity high-speed rail service. These technologies should be integrated into urban rail networks to generate demand for storage power systems and, therefore, the demand for rail batteries boost during the forecast period. Despite that, High capital investment and operating cost of high-speed rail network hinder the growth of market over the forecasting period 2020-2027.
Regional Analysis
It is projected that Asia Pacific will lead the worldwide train battery market and registered the fastest growth throughout the projected period. This rise is due to rising train demand from developing countries like China and India. Both countries are expected to accelerate the development of the battery industry with the installation process of bullet trains. Moreover, countries are trying to reduce air emissions by the rail electrification. In fact, this drives the world battery demand for trains.
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