The global train battery market size is expected to reach USD 769.24 million by 2030 according to a new study by Polaris Market Research. The report “Train Battery Market Share, Size, Trends, Industry Analysis Report, By Advance Train (Autonomous Trains, Hybrid Locomotives, Fully Battery-operated Trains); By Battery Type; By Application; By Technology; By Rolling Stock; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is expected to grow as a result of factors including increased urbanization in both developing and developed economies, rising demand for rails with minimal maintenance requirements, development of hybrid rail systems, electrification of rails, and growth in demand for rail development. During the forecast period, the demand for energy storage systems is anticipated to increase along with the need for rail batteries as a result of the growth of the rail network.
Based on technology, the valve regulated lead-acid segment is anticipated to be the largest market during the forecast period. The increasing growth in demand for rail batteries has increased the need for a consistent power supply in order to prevent operating interruptions. Additionally, the high charge efficiency, high-rate capacity, and maintenance-free life of the VRLA batteries are key industry drivers.
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Asia Pacific is projected to be the largest and fastest-growing market over the forecast period. Rapid modernization, as well as the expansion of the Chinese and Indian rail systems, is contributing to the increased demand for rail batteries across the region. Additionally, it is anticipated that the major expansion of autonomous rails is expected to broaden more prospects for market expansion.
Major participants such as AEG Power Solutions, Amara Raja Batteries Ltd., East Penn Manufacturing Company, Enersys, Exide Industries Ltd., First National Battery, Furukawa Electric Co., Ltd, GS Yuasa International Ltd., Hitachi Rail Limited, Hoppecke Carl Zoellner & Sohn GmbH, Hunan Fengri Power & Electric Co., Ltd., Power & Industrial Battery Systems GmbH, Saft, SEC Battery, and Shuangdeng Group Co., Ltd. are some of the key players operating in the global market.
In January 2022, Caterpillar Inc. announced that Union Pacific Railroad will buy 10 battery-powered locomotives from Progress Rail, a Caterpillar Company. The purchase is a part of a Class I railroad in the United States' largest investment in electric technology.
Polaris Market Research has segmented the train battery market report on the basis of battery type, technology, rolling stock, advance train, application, and region:
Train Battery, Battery Type Outlook (Revenue - USD Million, 2018 - 2030)
Train Battery, By Technology Outlook (Revenue - USD Million, 2018 - 2030)
Train Battery, Rolling Stock Outlook (Revenue - USD Million, 2018 - 2030)
Train Battery, Advance Train Outlook (Revenue - USD Million, 2018 - 2030)
Train Battery, Application Outlook (Revenue - USD Million, 2018 - 2030)
Train Battery, Regional Outlook (Revenue - USD Million, 2018 - 2030)