The Train Battery Market is primarily driven by the increasing population which has led to the demand for rail transport and railway electrification across the globe. The train battery market is projected to grow at a CAGR of 5.15% from 2018 to 2025. From a market size of USD 445.4 million in 2017, it is projected to reach USD 703.2 million by 2025.
By battery type, the train battery market for the lithium-ion segment is expected to have the fastest growth rate during the forecast period
The Lithium-ion segment is projected to grow at the fastest rate during the forecast period. This growth can be attributed to the low discharge of lithium-ion batteries over a period, which makes them significantly more efficient than other batteries. Also, these batteries are lightweight, have better insulation and longer operating life, and are maintenance-free.
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By battery technology, the Valve Regulated Lead Acid (VRLA) battery segment is projected to hold the largest share of the train battery market during the forecast period
Valve Regulated Lead Acid (VRLA) battery is projected to be the largest segment of the train battery market by battery technology. These batteries are environment friendly, provide large currents, and can be easily stored in stacks. Also, they require less maintenance compared to lead-acid and nickel-cadmium batteries.
APAC to account for the largest market size during the forecast period.
Asia Pacific is estimated to be the largest train battery market in 2018. Market growth in the region can be attributed to the large population and extensive rail networks. Upcoming projects such as the Mumbai-Ahmedabad bullet train will aid the growth of the train battery market in the region. The Train battery market for bullet trains in the Asia Pacific region is projected to grow at a CAGR of 8.00% during the forecast period. The lithium-ion battery is projected to be the fastest-growing battery type, while the demand for a lead-acid battery is projected to remain stagnant during the forecast period. The Chinese government plans to extend its rail network by adding 40,000 km of track length by 2025 for the deployment of more passenger trains. Indian Railways would also launch semi-luxury passenger trains, metros, and high-speed trains. Thus, an increase in the number of passenger trains in the Asia Pacific region will boost the demand for train batteries in the region.
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Key Market Players
EnerSys (US), Saft Batteries (Germany), Exide Industries (India), Hitachi (Japan), and GS Yuasa (Japan) Hitachi, headquartered in Tokyo, Japan, is a leading automotive manufacturing company.
Critical questions the report answers:
- Where will all these developments take the industry in the long term?
- What are the upcoming trends for the Train Battery market?
- Which segment provides the most opportunity for growth?
- Who are the leading vendors operating in this market?
- What are the opportunities for new market entrants?
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