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Train Battery Market to Witness Astonishing Growth by 2030

12-01-2020 08:10 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Train Battery Market to Witness Astonishing Growth by 2030

The global train battery market size is projected to reach USD 255 million by 2030, from an estimated value of USD 143 million in 2020, at a CAGR of 5.9%. The base year for the report is 2020, and the forecast period is from 2020 to 2030.

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Rapid urbanization in emerging countries and advanced economies is considered to be one of the largest drivers of infrastructure spending over the next few decades, which is expected to bolster the demand of rail expansion. The incorporation of these developments in urban rail infrastructure is expected to lead to the demand for energy storage systems and hence is expected to propel the demand for train batteries during the forecast period. However, the limited orders for rolling stock across the globe due to the COVID-19 pandemic has affected the demand for train batteries. Nevertheless, due to irregularities in charging cycles and battery maintenance or replacement, the demand for new batteries is expected to increase post the lifting of lockdowns.

The train battery market is led by globally established players such as EnerSys (US), Exide Industries (India), Saft (France), Amara Raja Batteries (India), and GS Yuasa Corporation (Japan). These companies have developed new products; adopted expansion strategies; and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the growing train battery market.

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EnerSys is ranked the top player because of its diversified product portfolio for various applications. Also, the company reported various developments such as new product developments, expansions, and acquisitions during 2018-2019. In June 2019, EnerSys, announced plans to expand its Thin Plate Pure Lead (TPPL) capacity over the next three years with over USD 100 million in additional capital spending along with an expected 15% increase from continued focus on lean principles. The company also plans to continue its commercialization efforts for the GreenSeal Bi-Polar battery technology licensed from Advanced Battery Concepts, LLC (ABC).

Exide Industries is ranked the second player due to its focus on expansions and a strong distribution network. The company entered into a joint venture with Leclanché SA to manufacture Lithium-Ion batteries and provide energy storage systems for India's electric vehicle market and grid-based applications. Furthermore, Exide Industries Ltd. in Technical Collaboration with East Penn Manufacturing Company of the US, at a Capital Investment of USD 0.98 million, constructed a state-of-the-art battery making plant in Haldia, India. The plant was expected to use the latest Punched Grid Technology to manufacture the most technically advanced Lead Acid Storage Batteries in the country.

Key Market Players:

The train battery market is led by globally established players such as EnerSys (US), Exide Industries (India), Saft (France), Amara Raja Batteries (India), and GS Yuasa Corporation (Japan).

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Contact Person: Mr. Aashish Mehra
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State: IL 60062
Country: United States

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth emerging opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of globalFortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets's™ flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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