Global Train Battery Market: Overview
From past few years, search for alternatives of fuel is growing for reducing its import and cost which is leading to increased investment in the railway electrification projects. Additionally, diesel engines are not economical due to their high maintenance costs. Also, the diesel-based engine is harmful to the environment which is creating a need for the electrification of railways. These factors are influencing positively on the growth of the global train battery market.
Train battery market could be segmented into battery technology, locomotive type, application, advanced trains, and region. Based on the battery technology, the market could be segmented into gel tubular, valve regulated lead acid, conventional lead-acid, sinter PNE, fiber PNE, pocket plate, and lithium ion. Based on the locomotive type, the market is segmented into diesel locomotive, diesel multiple units, electric locomotive, electric multiple units, metros, bullet train, light monorail, passenger coaches, and freight wagon. Based on the application, the market could be segmented into engine starter and auxiliary functions. Based on the advanced trains, the market could be segmented into the hybrid locomotive, autonomous train, and battery operated train.
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The report offers extensive information on market dynamics of the train battery market and stress on challenges, growth factors, and opportunities. Besides, the report focuses on the several strategies by key players in order to gain a lucrative edge in the global train battery market.
Global Train Battery Market: Drivers and Restraints
Growing demand for trains with low maintenance and growing electrification of trains is boosting the growth of the global train battery market. Autonomous trains are equipped with advanced features including automated doors, safety systems, information system, and effective lighting. These features require high-power requirement, which in turn is fuelling demand for the growth of the global train battery market. Additionally, these trains demand the stable electricity supply; thus, the demand for the advanced and improved battery is growing. This demand for the train battery is boosting the growth of the market.
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However, high capital investment coupled with high operational costs of the rail network is posing a challenge to the growth of the global train battery market.
Global Train Battery Market: Geographical Analysis
On the basis of region, the train battery market could be segmented into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Of these regions, Asia Pacific is expected to dominate the global market for train battery and expected to witness faster growth over the forecast period. This growth is attributable to growing demand for trains from the developing countries such as China and India. In both the countries, the process of installation of bullet trains is expected to drive the growth of the train battery market. In addition, the countries are trying to reduce air pollution is boosting the electrification of the trains. This, in turn, is propelling growth of the global train batteries market.