The train battery market is projected to grow from USD 277 million in 2023 to USD 378 million by 2030 at a CAGR of 4.6% during the forecast period. The train battery market growth is expected due to several factors, such as – the growing development of high-speed trains and metros and the expansion of railway networks. The rail sector’s emission regulations and high energy consumption remain major challenges. Energy storage systems such as batteries are expected to reduce the energy demand and thus reduce overall operational costs. These factors will contribute to the increased demand for train batteries in developed and developing countries.
“Nickel-Cadmium batteries are expected to account for the largest share in 2023.”
During the forecast period, nickel-cadmium (NiCd) batteries hold the largest share in the train battery OE market. The growth of this market is mainly attributed to its increased usage in all types of rolling stocks. It offers many advantages, such as long cycle life, high current output, relatively low self-discharge rate, robustness, and durability. According to a whitepaper published by Saft, the life of NiCd would reduce about 20% for every 10°C rise in temperature. In comparison, the life of lead-acid batteries experiences a reduction of nearly 50% for the same every 10°C rise in temperature. Thus, due to its cost benefits, the usage of NiCd batteries is becoming increasingly popular in all types of locomotives, multiple units, light railways, trams, and passenger coaches, in addition to advanced trains such as metro trains and high-speed railways depending upon the application for the starter or auxiliary purpose. Owing to its benefits, as mentioned above, coupled with advancements in Ni-Cd technology to reduce the memory effect by the replacement of fundamental chemistry with nickel-metal hydride (Ni-MH) and nickel-zinc (Ni-Zn) batteries, these NiCd batteries resulted in higher reliability, efficient performance, and longer life. As the overall cost of ownership associated with owning a train battery is far higher than the initial acquisition cost, the railway operators are looking for a sustainable solution, due to which the market for NiCD batteries, especially sinter/PNE nickel-cadmium type, is expected to remain dominant in the coming years.
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The fully Battery-operated trains segment of the train battery market is projected to witness the highest CAGR during the forecast period.
During the review period, battery-operated trains would grow at the highest CAGR within the advanced train battery market. These trains are usually installed with 2-5 MWh of battery capacity, and few can also be offered with up to 9 or 14 MWh of battery depending upon the heavy loads it need to pull on a non-electric track. These advanced trains are powered by lithium-ion batteries, gradually gaining momentum in the railway industry. For instance, Wabtec Corporation launched the world’s first battery-electric heavy haul locomotive, named FLXdrive, in September 2021, designed with 500 lithium-ion battery modules that have cut fuel consumption by 11%. In August 2023, Alstom and VMS unveiled its fully battery-operated train with a range of 120 km. Lithium Iron Phosphate (LFP), Nickel Manganese Cobalt Oxide (NMC), and Lithium Titanate Oxide (LTO) are the prominent lithium-ion battery technologies that are preferred to run the battery-operated locomotives. With continuous investments, rising strategic collaborations, and new product developments, the market for train batteries in fully battery-powered trains is expected to showcase prominent growth in the coming years.
The Asia Pacific market is projected to contribute the largest share of the train battery market.
Asia Pacific holds the maximum share in the global train battery market, in terms of value, in 2022. The higher demand is mainly due to the extensive railway network for most Asian countries. According to CEIC statistics, in 2022, China had more than 150,000 km of track length, India had approximately 128,305 km, Japan had 27,520 km, and South Korea had a track length of about 4,128 km. Along with an extensive railway network, the region has been experiencing an expansion of the network, electrification of lines, and rapid urbanization, leading to increased passenger and freight transportation. Approximately 80,000 km of rail track out of 1,15,000 km of track is electrified in China, considered the world’s largest electrification. In China, the government plans to extend its rail network by adding 40,000 km of track length by 2025 to deploy passenger trains. India is one of the fastest-growing markets for electric locomotives due to the increasing investments by the Indian Government in rail electrification. According to the Indian Railways, approximately 90% of its broad-gauge routes have completed electrification. Out of the 65,350 km broad gauge route, 59,046 Km route had been electrified till June 2023. The number of electric tracks is expected to grow with the increase in investments in rail infrastructure.
Key Market Players
The train battery market is dominated by players such as Saft (France), Enersys (US), Exide Industries (India),GS Yuasa Corporation (Japan), Amara Raja Batteries Ltd (India), and Hoppecke Batterien Gmbh & Co. Kg (Germany.
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