Train Battery Market trends:
Auxiliary function batteries hold the largest share in the market with approximately 68% market share in 2019 owing to increasing demand for Wi-Fi system in railways for long routes, LED operations, infotainment services for trains, and others. Moreover, rising privatization in the railway industry has boosted the growth of the auxiliary segment in the market. In addition, the increasing inclination of railway industries to oscillate according to consumer demands is the key factor attributing the growth of the segment.
According to GS Yuasa, the Train Battery Market is expected to dominate the locomotives industry during the forecast period owing to ergonomic applications and flexible Train Battery designs and improving standards of manufacturing. The railway industry is expected to consume approximately 140 million units worldwide during the forecast period owing to the increasing demand for auxiliary features across the globe.
APAC is the dominating region in the market owing to well-established infrastructure capabilities and growing inclination towards privatization of the railway’s network in the region. Moreover, the rising adoption of technological advancements in the region is the key supporting factor considered to drive the market growth. The European market is expected to dominate during the forecast period with a CAGR of approximately 4% owing to boosting of manufacturing services and the implementation of full battery-operated trains in the region. North America’s regional market is expected to boost during the forecast period owing to increasing economic growth in the region. Moreover, the North American market is expected to register a CAGR of approximately 4.6% during the forecast period owing to the high investment of the government in locomotive transportation in the region.
In a recent research report by Maximize Market Research, the Train Battery Market is expected to surpass US $XX million by the year 2026, from US $XX billion in 2019.
The study is consolidated on the basis of five major segments and further into sub-segments, Train Type (hybrid, fully battery operated, and autonomous trains), Battery Type (Ni-Cd battery, Lithium ion battery and lead acid battery), Battery Technology Type (Sintered PNE, gel tubular, fibre PNE, valve regulated lead acid, lithium ion and pocket plate), Locomotive type (electric locomotive, electric multiple units, diesel locomotives, metro, monorail, bullet trains and freight wagons) and by Application (auxiliary function batteries and starter batteries) to forecast the market value; Also includes the analysis of past market dynamics from 2016 – 2019, considering 2019 as the base year.
Lastly, the market research report provides a regional comparison and a complete country level analysis for the latest trends, along with the major key players- AEG Power Solutions, ENERSYS, China SHOTO, The Furukawa Battery Co. Ltd., DMS Technologies Pvt. Ltd., East Penn manufacturing co., Akasol AG, Shield battery Ltd., Leclanche, Exide Industries Pvt. Ltd., National Railway Supply, Hitachi, Coslight India Telecom Pvt. Ltd., Sunlight, Saft, Hunan Fengri Power and Electric Co. Ltd., GS Yuasa, Amara Raja Batteries
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Train Battery Market.”
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