Railway Battery Market is Forecasted to Reach US$ 514 Million in 2030, Says Stratview Research

The global railway battery market is projected to witness a growth rate of 2.8% annually from 2024 to 2030, with an anticipated size of US$ 514 million by 2030, 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 industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:
Market Size in 2023: US$ 420 million
Market Size in 2030: US$ 514 million
Growth (CAGR): 2.8% during 2024-2030
Leading Battery Type: Lead-acid batteries
Leading Rail Type: Metros
Leading Region: Asia-Pacific
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
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, & region.

Based on battery type: The battery type, the railway battery market is segmented into lead-acid battery, lithium-ion battery, and nickel-cadmium battery. Lead-acid battery is expected to remain the dominant choice in the coming years, while lithium-ion battery is steadily gaining wider acceptance within the rail industry. Among the various battery types, lithium-ion battery experienced the least decline and is projected to recover the fastest during the forecast period. This growth can be attributed to the numerous advantages of lithium-ion technology, including high energy density, low self-discharge rates, and minimal maintenance requirements. On the other hand, lead-acid battery remained the top-selling segment in 2021. Their versatility allows them to be widely used across railway applications, such as onboard power supplies and starter battery.

By 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 be the primary drivers of battery demand during the forecast period. High-speed and autonomous trains, which are predominantly powered by power lines, consume substantial amounts of energy. To enhance efficiency and performance, a significant number of energy-saving and storage systems are being incorporated into these trains.

To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific, specifically, China, India, and Japan are the rail industry hubs in the region, creating a huge demand for battery during the forecast period. This growth outlook is majorly attributed to the following-
• The market is bifurcated into North America, Europe, Asia-Pacific, and Rest of the World.
• The Asia-Pacific region is projected to remain the largest and fastest-growing market for railway battery during the forecast period. Rail expansion in key countries like China, Japan, India, and South Korea is witnessing significant growth. China and India boast some of the world's largest rail networks, while Japan sees widespread use of high-speed and metro trains as preferred transportation modes. This increasing demand for trains is expected to create substantial opportunities for battery manufacturers in the region.
• Europe, too, is poised to offer considerable growth opportunities over the next few years. This growth will be driven by the expansion of high-speed rail networks, stringent emission regulations, and the increasing adoption of lithium-ion battery technology across the region.

Railway Battery Market Drivers:
• Increasing rail-electrification rates - The impact of increasing rates of rail electrification globally is moving toward pollution control and sustainable methods of transportation. Around 37% of world railway tracks were electrified, with countries like Switzerland reaching electrification levels of around 99.8%. This fast electrification increases the requirement for high-performance batteries to power hybrid and fully electric trains for reliable energy storage and efficiency.
• Adoption of disruptive technologies - IoT, AI and DAS are increasing operational efficiencies and passenger experiences. Battery technology is being pushed to provide power to these energy consuming systems to ensure seamless operations. Reports suggest that while IoT and DAS further speed up the optimization of travel time and onboard connectivity, the need for stable and high-performance power sources increases which requires more batteries.

Top 10 Companies in the Railway Battery Market:

Stratview Research has identified the following companies as the top market players:
• Saft
• Amara Raja Battery Ltd.
• Toshiba Corporation
• Enersys
• Exide Technologies, LLC
• HOPPECKE
• GS Yuasa Corporation
• Zhejiang Narada Power Source Co., Ltd.
• East Penn Manufacturing Co.
• Shandong Sacred Sun Power Sources Co., ltd.

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the 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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