Train Battery Market Expected to Reach $748.30 Million with a CAGR of 4.7% by 2031

According to the report published by Allied Market Research, the global train battery market 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.

𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚:- https://www.alliedmarketresearch.com/request-sample/5731

The global train battery market is presently dominated by Europe followed by Asia-Pacific, North America, and LAMEA. In Asia-Pacific, the market is mainly driven by China, owing to the optimistic market scenario for the railway sector in the region. In North America, the U.S. is projected to witness considerable growth in the train battery industry during the forecast period.

𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁

The train battery market is segmented on the basis of battery type, rolling stock type, application, train type, and region. By battery type, the market is divided into lead acid, nickel cadmium, and lithium-ion. By rolling stock type, the market is segmented as the locomotive, metro, monorail, tram, freight wagons, and passenger coaches.

By application, starter battery, and auxiliary battery. On the basis of train type, the market is segmented as hybrid, battery-operated, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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.

𝙏𝙤 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙩𝙝𝙞𝙨 𝙋𝙧𝙚𝙢𝙞𝙪𝙢 𝙍𝙚𝙥𝙤𝙧𝙩: https://www.alliedmarketresearch.com/train-battery-market/purchase-options

𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗥𝗲𝘃𝗶𝗲𝘄

COVID-19 has presented the world with unprecedented economic, humanitarian, and healthcare challenges. Lockdown measures have helped contain the spread of coronavirus but witnessed an immense economic toll. On the business side, the railway sector is one of the considerably hit sectors. The standstill situation of the rail industry was reflected in the train battery market. Shortage of raw materials and components, owing to limited logistics capabilities and limited labor force to carry on day-to-day operations were among the preliminary business impacts. Furthermore, this pandemic led to a slowdown in the economic growth of China, which negatively impacted global economic growth as well. As a result of the COVID-19 pandemic, most train battery solution manufacturing units were completely closed or were unable to reach full production potential, owing to a lack of raw materials and staff. However, with the initiation of coronavirus vaccination across the world and the consequent resuming of all domestic and international ports, the global train battery market is expected to revive soon.

KEY FINDINGS OF THE STUDY

By battery type, the lead acid segment dominated the global train battery market in 2021, in terms of revenue.
By rolling stock, the metro segment is expected to register significant growth, registering a CAGR of 7.1% during the forecast period.

By application, the auxiliary battery segment dominated the global train battery market in 2021, in terms of revenue.
By train type, the battery-operated segment is expected to register significant growth, registering a CAGR of 5.4% during the forecast period.
By region, Asia-Pacific dominated the global train battery market in 2021 in terms of market share.

𝗧𝗵𝗲 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀

AEG Power Solutions
Amara Raja Batteries Limited
BorgWarner Akasol AG
East Penn Manufacturing Company
Ecobat
ENERSYS
Exide Industries ltd
Fengri Power & Electric co.
Limited
GS Yuasa Corporation
HBL Power Systems Limited
Hitachi Rail Limited
Hoppecke BatteriesInc.
Leclanché SA
Power & Industrial Battery Systems GmbH
Shield Batteries Limited and Shuangdeng Group Co Ltd.

𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮: - https://www.alliedmarketresearch.com/purchase-enquiry/5731

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 :

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Electric Vehicle Battery Swapping Market : https://www.alliedmarketresearch.com/electric-vehicle-battery-swapping-market-A10601

Military Battery Market : https://www.alliedmarketresearch.com/military-battery-market-A13309

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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.

This release was published on openPR.