Train Battery Market : Top Trends and industry overview to watch By 2033
As per the reports published by FMI, the global train battery market is projected to have an average-paced CAGR of 5.0% during the forecast period. The current valuation of the market is US$ 599.1 Mn in 2023. The market value of the train battery market is anticipated to surpass a market valuation of US$ 975.9 Mn by the year 2033. A historical market valuation of US$ 567.9 Mn has been recorded by the analysts of Future Market Insights for the concerned market during the base year.
A train battery is a type of lead-acid battery that is specifically designed for use in trains and locomotives. The battery is used to supply power to the train's electrical systems, including lighting, heating, and cooling, as well as auxiliary equipment such as sanders, horn, and wipers.
Train batteries are typically designed to operate in harsh railway environments and must be able to withstand vibration, shock, and extreme temperatures. They are also designed for high current discharge, which is required for starting the train's engine, as well as for providing backup power in case of a failure in the main electrical system.
Lead-acid batteries are used in train applications because of their reliability, durability, and low cost. They can also be recharged using the train's alternator, making them a convenient power source for train applications.
In addition to providing backup power, train batteries also play an important role in maintaining safety. They are used to power safety systems such as emergency brakes, signaling systems, and communication systems.
Key Takeaways from the Train Battery Market
The train battery market has witnessed an approximate rise of US$ 31.2 Mn from the base year to the current.
The lithium-ion battery segment by battery type category is projected to hold a dominant share of the market. Currently, the segment is advancing at a CAGR of 13.1% in 2023.
The auxiliary battery segment by application type is likely to hold dominant shares and has accounted for a market share of 66.4% in 2022.
The U.S. has emerged as the leading country with a market share of 18.1% in 2023.
The train battery market in Europe is estimated to foster at a moderate pace, registering a CAGR of 3.1% through 2033.
For more Information: https://www.futuremarketinsights.com/reports/train-battery-market
“Latest technology setups and heavy investment for developments in railway infrastructure are likely to curate a favorable market for the growth of the train battery industry.” – Says an FMI Analyst.
Competitive Landscape in the Train Battery Market
The manufacturers in the train battery market are leveraging advancements in technology to launch new and advanced batteries and gain a competitive advantage. These firms are continually investing in research and development activities to keep themselves in tandem with the changing consumer preferences and end-use industry demands. Efforts are being made to comply with the safety regulations in the market and aid the further progression of the train battery market. Thus, the market is likely to witness significant growth through 2033.
HOPPECKE Carl Zoellner & Sohn GmbH (Germany), FENGRI POWER & ELECTRIC CO., LIMITED. (Japan), Power & Industrial Battery Systems GmbH (Germany), Saft2022 (France), SEC Battery (Hong Kong), and Shuangdeng Group Co, Ltd (China) are some of the key companies marking their prominence in the train battery industry.
Recent Developments
In July 2019, the Japan Railway Company made a demonstration for its first fully battery-operated Shinkasen N700S train at a press event.
In September 2018, Canadian transportation organization Bombardier made reintroduction its battery-powered electro-hybrid train named Bombardier Talent 3.