Train Battery Market Rise in Demand for Energy-Efficient Transport System
With increase in urban population, there is a rising demand
for urban transport, especially metros, monorails, and light trains.
Alternatively, the growing demand for luxury and comfort has increased the
electrical applications in passenger coaches. All these factors together are
projected to drive the demand for railway batteries in the coming years. The Train Battery Market is projected
to grow at a CAGR of 5.15% from 2018 to 2025. From a market size of USD 470.5
million in 2018, it is projected to reach USD 703.2 million by 2025.
Rolling stock is a highly regulated industry and most of the
countries have a regulator body that sets the standards for the battery type
that can be used in trains. Adoption of new battery types such as lithium-ion
would be slower in countries with nationalized rail network and few private
players.
Lithium ion batteries: a
promising battery type for railways
Lithium Ion batteries have a lower discharge over a time period compared
to lead-acid and nickel-cadmium batteries. Hence, they are more efficient
compared to other battery types. These batteries are also lightweight, have
better insulation, longer operating life, and are maintenance free. Lithium-ion
batteries achieves this with the help of an additional electric heater that
helps raise the temperature substantially. Russia, the UK,
Germany, and Japan have started using lithium-ion batteries in railways as they
lead to smoother rail operations compared to other battery types. Over the
projected period, other countries would also follow suit as lithium-ion
batteries have various advantages over other battery types. Developed countries
are expected to quicken their adoption of lithium-ion batteries in rail
transport compared to developing countries because of regulations and the
higher costs associated with the adoption of lithium-ion batteries. Thus,
lithium-ion batteries is a good opportunity for battery manufactures to
increase their share in the train battery market.
Engine starter batteries to be
the fastest GROWING application of the train battery market
The
locomotive requires a quick start option and power supply for propulsion. They
are fitted with a starter battery that provides the power to perform several
pre-start functions such as powering up hydraulic pumps, air compressors, and
brake systems mandatory for a smooth engine start without any damage to engine
components. The growing demand for locomotives in developing countries such as
China and India augurs well for the train battery market. Manufacturers of
starter batteries in the region can use this opportunity to increase their
revenues.
Major factors driving the growth
of this market include increasing demand for high speed trains throughout the
world. A major restraint for the train battery
market is the huge capital requirement for developing and operating rail
networks. The key market players in Europe are EnerSys (France), Hoppecke
(Germany), and Saft Batteries (France). These players can use their expertise
in manufacturing train batteries to provide efficient batteries for developing
countries such as India and China. This
also provides them with a great opportunity to increase their revenue and gain
market share by way of expanding further into these countries or through joint
ventures and acquisitions of local companies.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalyst.asp?id=6068646
Target Audience
- Battery source,
module, and other component suppliers for train battery systems
- Dealers and
distributors of train battery systems
- Government
regulatory authorities
- Industry
associations
- Raw material
manufacturers of train battery components (suppliers for Tier I)
- Regional manufacturer
associations
- Train battery
technology suppliers
Critical Questions:
- How would OEM
see the train battery technology as a product differentiation?
- How are the
industry players addressing the challenge of Battery Technology?
- Does addition
of luxurious features to the rolling stocks impacts the battery sales?
- Which are the
top strategies adopted by the key manufacturers to increase their
revenues?
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