Train Battery Market to Garner $748.30 Million by 2031: Allied Market Research
Allied Market Research
6 min read
Allied Market Research
Rise in budget allocations for development of railways, increase in demand for a secure, safer, and efficient rail transport, and surge in demand for trains with improved passenger capacity drive the growth of the global train battery market. During the Covid-19 pandemic, production activities of different types of batteries used in trains were halted completely or partially due to lockdown measures implemented in various countries.
Portland, OR, July 19, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global train battery market generated $483.0 million in 2021, and is expected to reach $748.30 million by 2031, witnessing a CAGR of 4.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Rise in budget allocations for development of railways, increase in demand for a secure, safer, and efficient rail transport, and surge in demand for trains with improved passenger capacity drive the growth of the global train battery market. However, supportive government regulations on train batteries and increase in capital requirement hinder the market growth. On the other hand, improvement in railway infrastructure in developing nations and rise in development & testing of autonomous trains present new opportunities in the coming years.
Production activities of different types of batteries used in trains were halted completely or partially due to lockdown measures implemented in various countries. Moreover, supply chain disruptions and raw material shortage presented challenges in production.
Moreover, the railway sector was severely impacted during the initial stages of the pandemic as railway travel was banned to prevent the spread of Covid-19. This, in turn, reduced the demand for train batteries even more.
Owing to economic uncertainty, the development activities of battery-operated and hybrid trains were either cancelled or postponed.
The report offers detailed segmentation of the global train battery market based on battery type, rolling stock type, application, train type, and region.
Based on battery type, the lead acid segment accounted for the highest share in 2021, contributing to more than three-fifths of the total market share, and is estimated to continue its lead position during the forecast period. However, the lithium ion segment is projected to manifest the highest CAGR of 5.7% from 2022 to 2031.
Based on train type, the hybrid segment held the largest share in 2021, accounting for around three-fourths of the global train battery market, and is estimated to maintain its leadership status during the forecast period. However, the battery-operated segment is expected to register the largest CAGR of 5.4% during the forecast period.
Based on region, Asia-Pacific accounted for the highest share in 2021, contributing to nearly one-third of the total market share, and is projected to continue its dominant share by 2031. Moreover, this region is projected to portray the fastest CAGR of 5.1% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global train battery market analyzed in the research include AEG Power Solutions, BorgWarner Akasol AG, Amara Raja Batteries Limited, Ecobat, East Penn Manufacturing Company, Exide Industries Ltd., Fengri Power & Electric Co., Limited, ENERSYS, HBL Power Systems Limited, GS Yuasa Corporation, and others.
Electric Vehicle Battery Market by Propulsion Type (Battery Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle), Battery Type (Lead Acid Battery, Nickel Metal Hydride Battery, and Lithium ion Battery), and Vehicle Type (Passenger Car, Commercial Vehicle, and Two Wheeler) - Global Opportunity Analysis and Industry Forecast, 2017-2030.
Aircraft Battery Market by Battery Type (Lead Acid Battery, Lithium Ion Battery, and Nickel Cadmium Battery), Power Density (Less than 300 Wh/Kg, and More than 300 Wh/Kg), Aircraft Type (Commercial Aircraft, Military Aircraft, and UAV Aircraft), Aircraft Technology (Traditional, Hybrid, and Electric), and Application (Propulsion, Auxiliary Power Unit, Emergency, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2030.
Space Battery Market by Type (Rechargeable and Non-rechargeable), Applications (Propulsion Systems, Communication & Navigation Systems, Fire Control Systems, Electro Optics & Thermal Imaging Systems, and Others) and Platform (Aviation, Land, Marine, Space, and Munitions): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Motorcycle Battery Market by Battery Type (Lithium-ion battery and Lead acid battery), Vehicle Type (Motorcycle, Scooter, Sports bike and Electric bike), and Build (SLI Battery, AGM battery and Lithium battery): Global Opportunity Analysis and Industry Forecast, 2021–2030.
Military Battery Market by Application (Propulsion Systems, Auxiliary Power Units, Backup Power, Ignition Systems, Fire Control Systems, Communication and Navigation Systems), Platform (Aviation, Land, Marine, Space, and Munition), End User (OEM, and Aftermarket), and Type (Rechargeable, and Non-Rechargeable)- Global Opportunity Analysis and Industry Forecast, 2021-2030.
Marine Battery Market by Battery Type (Lithium, Lead acid, and Others), Ship Type (Commercial and Defense), Function (Starting, Deep Cycle, and Dual Purpose), Nominal Capacity (Less than 150 Ah, and More than 150 Ah), Sales Channel (OEM and Aftermarket), and Battery Density (<100 WH/KG and More than 100 WH/KG): Global Opportunity Analysis and Industry Forecast, 2021–2030.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 help@alliedmarketresearch.com
