Railway Battery Market is Forecasted to Reach US$ 483.9 million in 2027, Says Stratview Research

The global Railway Battery Market is projected to witness a growth rate of 2.4% annually from 2022 to 2027, with an anticipated size of US$ 483.9 million in 2027, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Railway Battery Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2027: US$ 483.9 million
Growth (CAGR): 2.4% during 2022-2027
Forecast Period: 2022-2027
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Railway Battery Market:

The global Railway Battery Market is segmented based on battery Type, rail Type and region.
Based on battery type - The market is segmented into lead-acid batteries, lithium-ion batteries, and nickel-cadmium batteries. Among these battery types, lithium-ion batteries recorded the least decline (2.1%) in 2019-2020 and are also expected to make the fastest recovery during the forecast period. This growth is attributable to the numerous advantages offered by li-ion technology such as high energy density, low self-discharge, and low to minimal maintenance.
Lead-acid battery, on the other hand, was the segment with the highest sales in 2021. Lead-acid batteries can be used in a wide range of railway applications, such as onboard power supplies and starter batteries.
Based on rail type - The market is classified into regular trains, high-speed trains, metros, monorails & trams, locomotives, rail coaches, and EMUs. Metros and high-speed trains are expected to remain the key demand generators of batteries during the forecast period.
High-speed and autonomous trains are mostly powered by power lines and are large energy consumers. As a result, a large number of energy-saving and storage systems are used to improve performance.
To know the most attractive segments, click here: https://www.stratviewresearch.com/Request-Sample/3037/railway-battery-market.html#form

Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the largest and fastest-growing market for railway batteries during the forecast period. This growth outlook is majorly attributed to the following-
The market is broken down geographically into areas, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Rail expansion in key countries, such as China, Japan, India, and South Korea, is booming. In addition, China and India have some of the world's largest rail networks, and high-speed trains and metro trains are popular modes of transportation in Japan.
The rising demand for trains is expected to open up enormous opportunities for battery players in the region.
Europe is also likely to create sizeable opportunities in the coming five years, driven by the expansion of the high-speed rail network, stringent emission regulations, and an increase in the region's adoption of lithium-ion battery technology.

Railway Battery Market Drivers:
Some of the key drivers listed in the report are given below.
Conversion of Diesel Trains to Battery Electric trains
Rise of autonomous trains and the expansion of metro networks
Stringent regulations regarding carbon emission reductions
Top Companies in the Railway Battery Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
Amara Raja Batteries Ltd.
East Penn Manufacturing Co.
Enersys
Exide Technologies, LLC
GS Yuasa Corporation
HOPPECKE
Saft
Shandong Sacred Sun Power Sources Co., ltd.
Toshiba Corporation
Zhejiang Narada Power Source Co., Ltd.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Railway Battery Market, answering critical questions like:
How big is the sales opportunity?
Which regions offer the best sales opportunities?
Which are the most attractive market segments?
Which are the top players and their market positioning?
How complex is the business environment?
What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.