The "Global Train Battery Market by Type & Technology (Lead Acid-Gel Tubular, VRLA, Conventional; Ni-Cd-Sinter, Fiber, Pocket, & Li-Ion), Advanced Train (Autonomous, Hybrid, Fully Battery-Operated), Rolling Stock Type, Application and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global train battery market size is projected to reach USD 255 million by 2030, from an estimated value of USD 143 million in 2020, at a CAGR of 5.9%.
The growth is influenced by factors such as rapid urbanization in emerging countries and advanced economies is considered to be one of the largest drivers of infrastructure spending over the next few decades, which is expected to bolster the demand of rail expansion. The incorporation of these developments in urban rail infrastructure is expected to lead to the demand for energy storage systems and hence is expected to propel the demand for train batteries during the forecast period.
Sinter Plate segment is expected to grow at the fastest CAGR by 2030, owing to enhanced high power density and less maintenance cost than lead acid batteries, which presents considerable growth opportunities for battery manufacturers
The sintered plate battery performs better than other batteries at variable load and temperatures. The sintered plate nickel cadmium battery requires lower maintenance than other batteries and is highly reliable. Sintered plate nickel cadmium batteries are used for high power discharge applications such as aircraft turbine engines, diesel locomotives, etc. These batteries are used in DMUs and diesel locomotives to start engines and for the auxiliary functions of the trains because they have 50% higher energy density than pocket plate nickel cadmium batteries. Also, sinter nickel cadmium batteries are more stable at higher temperatures than lead acid batteries. The sinter/PNE nickel cadmium battery is projected to dominate the market in the Asia Pacific owing to its high energy density which makes it ideal for starting engines. Since the Asia Pacific has a significant share of diesel locomotives, the demand for the sinter/PNE nickel cadmium battery is expected to grow during the forecast period.
Lithium ion battery segment is expected to be the fastest growing segment throughout the forecast period owing to high density and maintenance free
Li-Ion batteries offer various advantages over other battery types such as maintenance-free, battery health tracking, high energy density, lighter in weight, and compact in design. Developed countries are expected to increase their adoption of Lithium-Ion batteries in rail transport faster compared to emerging countries because of the regulations and the higher costs associated with adopting Lithium-Ion batteries. Also, Lithium-Ion batteries are best suited for high-speed trains and China being the largest market for high-speed trains, the demand for Lithium-Ion batteries in the region is projected to grow during the forecast period.
Asia Pacific market is expected to hold the largest market share by 2030
The rolling stock power conversion systems industry in the Asia-Pacific has witnessed year-on-year growth. The region is the leading producer of rolling stock across the globe and is expected to retain this position during the forecast period as it has the largest rail network, rapid urban developments, and government initiatives towards the development of energy-efficient transportation. Additionally, Asian countries such as China is planning to extend the network to 45,000 km by 2030. High-speed trains, suburban trains, and urban transit trains are majorly run in China, which is expected to make the country the leading market for railway batteries. Furthermore, several developments are being undertaken in Indian railways, and fixed a target for the electrification of 7,000 RKM for the year 2020-21. Moreover, the Indian railways target at 100% electrification of routes by 2024. This offers significant opportunities for train battery manufacturers in the coming future.
Emission Regulations to Increase the Demand for Energy-Efficient Transportation Systems
Expansion of Railway Networks
High Capital Investment and Operating Cost of High-Speed Rail Network
Aggressive Plans for Train Electrification Coupled with Increasing Privatization
Adoption of Hybrid Trains and Hydrogen Fuel Cell Trains
Increase in Battery Capacity and Installation Requirements
GS Yuasa Corporation
Exide Industries Ltd.
Amara Raja Batteries Ltd.
Hoppecke Batterien GmbH & Co. KG
First National Battery
Power & Industrial Battery Systems GmbH
East Penn Manufacturing Company
AEG Power Solutions
The Furukawa Battery Co. Ltd.
Hunan Fengri Power & Electric Co. Ltd.
Shield Batteries Limited
National Railway Supply
For more information about this report visit https://www.researchandmarkets.com/r/mpdpuf
View source version on businesswire.com: https://www.businesswire.com/news/home/20200925005315/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900