Train Battery Market worth $378 million by 2030 – Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 3, 2023 /PRNewswire/ — Train Battery Market is projected to grow from USD 277 million in 2023 to USD 378 million by 2030 at a CAGR of 4.6% from 2023 to 2030, according to a new report by MarketsandMarkets™. The growth in the train battery market is primarily driven by factors such as development in the rail network, strengthening emission norms, and growing operating costs of the urban rail network, which are considered the most significant drivers of the train battery market. The rapid urbanization and growing need for sustainable transport are expected to lead to the demand for energy storage systems. They are expected to propel the demand for train batteries during the forecast period.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=6068646

Browse in-depth TOC on “Train Battery Market”.

334 – Tables56 – Figures        326 – Pages

Train Battery Market Scope:

Report Coverage

Details

Market Size

USD 378 million by 2030

Growth Rate

4.6% of CAGR

Largest Market

Asia Pacific

Market Dynamics

Drivers, Restraints, Opportunities & Challenges

Forecast Period

2023-2030

Forecast Units

Value (USD Million)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Battery Type, Battery Technology, Application, engines/head, application, advanced train type, aftermarket by rolling stock, aftermarket by battery type, application, and region, and OE by Region

Geographies Covered

Asia Pacific, Europe, North America, and the Rest of the World

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Expansion of IoT, AI, and DAS technologies

Key Market Drivers

Growth in adoption of autonomous and high-speed railways

“Nickel-Cadmium batteries are expected to account for the largest share in 2023.”

During the forecast period, nickel-cadmium (NiCd) batteries hold the largest share in the train battery OE market. The growth of this market is mainly attributed to its increased usage in all types of rolling stocks. It offers many advantages, such as long cycle life, high current output, relatively low self-discharge rate, robustness, and durability. According to a whitepaper published by Saft, the life of NiCd would reduce about 20% for every 10°C rise in temperature. In comparison, the life of lead-acid batteries experiences a reduction of nearly 50% for the same every 10°C rise in temperature. Thus, due to its cost benefits, the usage of NiCd batteries is becoming increasingly popular in all types of locomotives, multiple units, light railways, trams, and passenger coaches, in addition to advanced trains such as metro trains and high-speed railways depending upon the application for the starter or auxiliary purpose. Owing to its benefits, as mentioned above, coupled with advancements in Ni-Cd technology to reduce the memory effect by the replacement of fundamental chemistry with nickel-metal hydride (Ni-MH) and nickel-zinc (Ni-Zn) batteries, these NiCd batteries resulted in higher reliability, efficient performance, and longer life. As the overall cost of ownership associated with owning a train battery is far higher than the initial acquisition cost, the railway operators are looking for a sustainable solution, due to which the market for NiCD batteries, especially sinter/PNE nickel-cadmium type, is expected to remain dominant in the coming years.

“Electric Multiple Units is the largest engine head segment for train batteries during the forecast period.”

Electric Multiple Units (EMU) are estimated to be the largest and second fastest train battery industry globally. The EMUs are installed with 1-2 batteries with a voltage requirement of 110V. The battery unit serves the purpose of both starter and auxiliary functions. EMUs have noticed a surge in demand owing to higher energy efficiency than Diesel Multiple Units (DMUs), helping reduce operating costs and meet stringent emissions standards. Further, the trend is moving towards high-speed EMUs, especially in countries like Japan, China, and the UK, as it offers quick and efficient point-to-point transportation. Several developments related to battery-operated EMUs and advanced battery technologies are expected to drive the market for train batteries. For instance, in June 2021, CAF was selected by the Rhine Ruhr Transport Association (VRR), and Westfalen-Lippe Local Transport (NWL) is considered as a preferred bidder for the contract to supply more than 60 battery-powered EMUs for Germany. Upcoming railway projects and expansion plans are expected to focus on electrified routes and intra-city transport. EMUs with high-speed capacity would have features like air conditioning coaches, automatic doors, train lighting, infotainment, Wi-Fi services, etc. Incorporating these systems would spur the demand for efficient energy storage systems, propelling the demand for train batteries in the EMUs.

“Europe is estimated to be the 2nd largest train battery market during the forecast period.”

Europe accounted for the 2nd largest global train battery market during the forecast period. Europe is the most developed region for adopting advanced battery solutions for different rolling stocks. Various countries from the European region are focusing on the electrification of existing railway lines due to stringent emission norms related to CO2. High fuel costs, large number of passengers, and strict emission norms are some of the primary factors that will drive the train battery demand in Europe as countries such as Germany, France, and Italy are investing heavily in the development of metros, light rails/trams, and hybrid locomotives.

According to the European Rail Research Advisory Council (ERRAC), in European metropolitan areas, 400 billion rail trips are made yearly: 15% by public transport, 30% by non-motorized means, and 55% by private cars. Rail represents 45% of the public transport. Furthermore, regarding rolling stock, EMUs account for approximately half of the total fleet, followed by passenger coaches and DMUs.

Nickel-cadmium batteries accounted for the largest share of the European train battery market across all rolling stock owing to high energy density and better performance at low temperatures compared to lead-acid batteries. However, the growing development in Lithium-ion battery chemistry such as lithium iron phosphate (LFP) & lithium titanate oxide (LTO) with high energy density and fire-retardant characteristics and drawbacks of nickel-cadmium batteries such as high self-discharge rate compared to Lithium, driving the demand for lithium-ion batteries in European railway in advanced train segment. For instance, Hitachi, Bombardier, and Stadler are some of the manufacturers using lithium-ion batteries as traction batteries or auxiliary power backup batteries in their train models such as Hitachi Blues, Bombraider Talent 3, and Stadler FLIRT Akku.

According to the European Commission, as of 2021, 60% of the main lines rail network in Europe is electrified and around 80% of traffic is running on these lines, Belgium has the most electrified rail networks with ~87% out of total rail network.  Further European countries are focusing on the development of fully battery-powered trains and hybrid trains for rail transportation. For instance, ABB Group formed a partnership with Stadler Rail to supply batteries for 160 trains in Europe and North America. ABB Group will provide traction as well as auxiliary batteries for these 160 trains which will be operated in Europe and North America.

The conversion of diesel engines with electro-diesel locomotives in the region has witnessed significant year-on-year growth. Governments of various European countries are constructing high-speed rail networks within and between countries for smooth transit. High-speed trains are one of the most used modes of transportation in Europe. High-speed trains such as Intercity Express, TGV, Eurocity, and Eurostar operate at approximately 250–300 km/h. The UK government has proposed a high-speed rail to connect London, Birmingham, Leeds, and Manchester. The project is estimated to cost USD 48 billion and is expected to be completed by 2026. The German government has proposed a high-speed rail project between cities such as Frankfurt–Mannheim, Karlsruhe–Basel, Hanau–Gelnhausen, Stuttgart–Wendlingen, and Wendlingen–Ulm. New high-speed lines are expected to increase the demand for high-speed trains, thereby increasing opportunities for train battery manufacturers. Further, SAFT, HOPPECKE Batterien GmbH & Co. KG, and Leclanché are some of the key players that serve the regional demand for train batteries of major locomotive giants such as Alstom and Seimens.

Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=6068646

Key Market Players:

The major players in Train Battery Companies include Saft (France), Enersys (US), Exide Industries (India), GS Yuasa Corporation (Japan), Amara Raja Batteries Ltd (India), and Hoppecke Batterien Gmbh & Co. Kg (Germany)

Recent Developments

In April 2023, EnerSys acquired Industrial Battery and Charger Services Limited (IBCS) based out in the UK to strengthen its motive power service offerings in the UK.  The acquisition is a strategic maneuver by EnerSys aimed at broadening the scope of its motive power services and fortifying its position within the UK market.
In January 2023, EnerSys and Verkor SAS, a European battery technology company, initiated a non-binding Memorandum of Understanding to investigate establishing a lithium battery gigafactory in the US. This upcoming factory will provide a growth opportunity for both companies and allow EnerSys to optimize cell sizing in battery solutions for its customers.
In September 2022, Saft formed a supplier contract with Alstom to deliver MRX batteries for Grand Paris Express backup power applications. Saft has successfully delivered the initial ten battery systems intended for five trains, which are part of the overall requirement of up to 183 trains essential for the completion of three new lines (lines 15, 16, and 17) by 2030.
In May 2022, Saft, a subsidiary of TotalEnergies, started the supply of backup battery systems for Alstom’s Metropolis metro trains, which will be used on lines 15, 16, and 17 of the Grand Paris Express projects, the most extensive transportation initiative in Europe.
In March 2022, Exide Industries Ltd. entered a technological partnership with SVOLT Technology Ltd., China. The partnership will provide the necessary technology and know-how to establish India’s lithium-ion battery production unit.
In June 2020, Amara Raja Batteries Ltd. entered into a technological partnership with Gridtential Energy, Inc. to develop bipolar battery technology. Under the agreement, both companies will work on developing Silicon Joule bipolar reference batteries to determine improvements in cycle life, energy density, battery efficiency, charging rates, and manufacturability.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=6068646

Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting

Related Reports:

Hybrid Train Market – Global Forecast to 2030

Bullet Train/High-Speed Rail Market – Global Forecast to 2025

Train Lighting Market – Global Forecast to 2025

Autonomous Train Market – Global Forecast to 2030

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish MehraMarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/train-battery-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/train-battery.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg


Go to Source