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Train Battery Market Expected to Worth 748.30 million by 2031, Latest Report
Train Battery Market
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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.
Based on battery type, the lead acid segment accounted for the highest share in 2021, contributing to more than three-fifths of the total market share, and is estimated to continue its lead position during the forecast period. However, the lithium ion segment is projected to manifest the highest CAGR of 5.7% from 2022 to 2031.
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Based on train type, the hybrid segment held the largest share in 2021, accounting for around three-fourths of the global train battery market, and is estimated to maintain its leadership status during the forecast period. However, the battery-operated segment is expected to register the largest CAGR of 5.4% during the forecast period.
The key players profiled in this report include
Leading players of the global train battery market analyzed in the research include AEG Power Solutions, BorgWarner Akasol AG, Amara Raja Batteries Limited, Ecobat, East Penn Manufacturing Company, Exide Industries Ltd., Fengri Power & Electric Co., Limited, ENERSYS, HBL Power Systems Limited, GS Yuasa Corporation, and others.
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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.
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Regional Analysis:
Based on region, Asia-Pacific accounted for the highest share in 2021, contributing to nearly one-third of the total market share, and is projected to continue its dominant share by 2031. Moreover, this region is projected to portray the fastest CAGR of 5.1% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
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.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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