(MENAFN- EIN Presswire)
Train Battery market Growth
WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 17, 2024 /EINPresswire / -- According to the report published by Allied Market Research, the global train battery market size 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.
🔰 Download Sample Pages -
Factors such as an increase in the allocation of budget for the development of railways, the surge in demand for secure, safer, and efficient rail transport, rise in demand for trains with better passenger capacity are some of the factors propelling the demand for train batteries. However, government regulations on train batteries and high capital requirements are some factors expected to hamper market growth. Furthermore, improvements in railway infrastructure in developing countries and an increase in the development & testing of the autonomous train are expected to create numerous opportunities for the industry players in the near future.
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.
Covid-19 Scenario:
✦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.
🔰 Procure Complete Research Report Now: /purchase-options
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.
🔰 Interested to Procure the Research Report? Inquire Before Buying -
List of Key Players in Train Battery Market :
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,
Similar Reports We Have on Battery Industry:
- Electric Vehicle Battery Market Size, Share, Competitive Landscape and Trend Analysis Report, by Vehicle Type, by Propulsion Type, by Battery Type : Global Opportunity Analysis and Industry Forecast, 2021-2031
- Motorcycle Battery Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Battery Type, by Motorcycle Type, by Propulsion Type : Global Opportunity Analysis and Industry Forecast, 2023-2032
- Marine Battery Market Size, Share, Competitive Landscape and Trend Analysis Report, by Battery Type, Ship Type, Function, Nominal Capacity, Sales Channel and Battery Density : 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.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN17102024003118003196ID1108792054