Global Train Battery Market Expected To Reach $243.49 Million By 2027: ResearchAndMarkets

0
310
  • Based on the application, the auxiliary battery (HVAC, doors, infotainment) segment is anticipated to hold considerable market share during the forecast period
  • By geography, Asia Pacific is going to have lucrative growth during the forecast period
Image for representation (pic credit-ceth ksu)

The global train battery market is expected to reach $243.49 million by 2027 growing at a CAGR of 7.9 per cent during the forecast period as per a report by ResearchAndMarkets. It accounted for $132.53 million in 2019.

Expansion of railway networks and emission regulations to increase the demand for energy-efficient transportation systems are boosting market growth. High capital investment and operating cost of high-speed rail network is hampering market growth. Aggressive plans for train electrification coupled with increasing privatization may provide ample opportunities for market growth.

DC power, which is supplied to the coaches

Train battery is used to supply power to the coaches when the train is at steady position or is moving slowly. It includes a DC power, which is supplied to the coaches. Previously, power to trains was supplied through diesel engines. They were not considered economical due to their high maintenance cost.

Based on the application, the auxiliary battery (HVAC, doors, infotainment) segment is anticipated to hold considerable market share during the forecast period. Auxilliary battery systems provide backup to all essential train systems such as emergency lighting and ventilation systems to provide safety to the train in the absence of output failure, and train separation incidents.

By geography, Asia Pacific is going to have lucrative growth during the forecast period. This is due to growth in key countries such as China, Japan, India, and South Korea. The region is the leading producer of rolling stock across the globe and is expected to retain this position during the forecast period. It has the largest rail network, rapid urban developments, and government initiatives towards the development of energy-efficient transportation.

SHARE YOUR THOUGHTS & COMMENTS

Please enter your comment!
Please enter your name here

Are you human? *