NEW YORK, Jan. 22, 2024 /PRNewswire/ — The train battery market is expected to grow by USD 179.11 million from 2022 to 2027, according to Technavio. In addition, the growth momentum will progress at a CAGR of 5.45% during the forecast period. The report analyzes the competitive landscape and offers information on several companies. Accumulatorenwerke HOPPECKE Carl Zoellner and Sohn GmbH, AEG Power Solutions BV, Amara Raja Group, East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., First National Battery, Furukawa Electric Co. Ltd., HBL Power Systems Ltd., Hitachi Ltd., JFM Engineering Inc., Leclanche SA, Microtex Energy Pvt. Ltd., Saft Groupe SAS, Schaltbau Holding AG, Star Battery Ltd., Stryten Energy, Toshiba Corp., Wisdom Industrial Power Co. Ltd., and GS Yuasa Corp.
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AEG Power Solutions BV – The company offers train batteries that start from 120Ah to 1100Ah capacity – both Low Maintenance (LMLA) and Maintenance-Free (VRLA) types. Under this segment, the company manufactures power systems and produces UPS, rectifiers, chargers, and DC systems.
Based on Geography, APAC is estimated to contribute 37% to the growth during the forecast period. Another region offering significant growth opportunities to companies is Europe. The EU holds a significant share in the global automotive sector, influencing the growth of the region. Progress in EU countries’ automotive industries is crucial. Stringent government regulations in Europe, particularly regarding vehicle emissions, safety, and fuel efficiency, drive technological advancements in the automotive sector, shaping the demand for train batteries.
Based on Application, the growth of the auxiliary segment will be significant during the forecast period. Auxiliary batteries play a crucial role in providing backup to essential train systems, ensuring safety during power failures and train separation incidents. The growing demand for high-speed trains, equipped with advanced features like emergency braking and tilting systems, contributes to the increased need for these batteries.
Type (lead-acid, lithium-ion, and nickel-cadmium)
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Imperative Insights on the following aspects:
- What was the size of the global train battery market by value?
- What will be the size of the global train battery market in 2027?
- How has the industry performed over the last 5 years?
- What factors are affecting the strength of competition in the global train battery market?
- What main segments make up the global train battery market?
Major Applications
The growth of the auxiliary battery segment, which includes lithium-ion batteries, lead-acid batteries, nickel-metal hydride batteries, and nickel-cadmium batteries, is anticipated to be driven by their use in fully battery-operated trains. Lithium-ion batteries, known for their lightweight, compact design, and superior performance, are especially expected to propel this growth. Europe and Asia Pacific are anticipated to be key regions driving this expansion. The adoption of these batteries is crucial for high-speed trains, electric locomotives, hybrid locomotives, passenger trains, and freight trains. This growth is supported by advancements in battery management systems, regenerative braking systems, and railway infrastructure, along with the increasing focus on energy storage solutions, charging infrastructure, smart grid integration, sustainability initiatives, lifecycle management, recycling and disposal, safety and compliance standards, and collaboration among rail operators, rolling stock manufacturers, and battery manufacturers.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Application
Segmentation by Battery Type
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.
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SOURCE Technavio
