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The Train Battery Market stood at USD 516.6 billion in 2023-e, and is projected to grow at a CAGR of 4.4% through 2030 to reach USD 698.4 billion. The growing focus on the electrification of rail network and growing investment in high-speed train are driving the demand for train battery market. Additionally, integration of advanced technologies such as IoT, AI, Driver Advisory System (DAS) and increasing focus towards green transportation expected to offer several opportunities to the market stakeholders.
Conventionally, lead acid batteries are widely used in train operation. However, they require high maintenance. Lithium-ion and nickel-cadmium (Ni-Cd) are potent replacement for the lead acid battery. In railways, lithium-ion batteries are used for on-board electrical system and for starting diesel engines. Whereas, NI-Cd batteries are preferred in hybrid and all-electric traction systems as well as a backup power for train components such as AC, lights, etc. and for emergency brakes.
Globally, there are larger number of hybrid train compared to full battery-operated trains. By linking electric power with diesel engines, hybrid trains achieve higher energy efficiency compared to their conventional counterparts. This, in turn, offers lower fuel consumption, lower emission, and thus greener transportation. In addition, hybrid trains operate quieter compared to traditional diesel engines. It also requires lower maintenance and operational cost thus greater cost saving compared to diesel-powered trains.
Freight wagon, locomotive, metro, monorail, passenger coaches and tram are the different types of rolling stock types driven by the use of train batteries. In major cities of the world, there is growing network of metro trains for the easy and faster transport of passengers compare to on-road journey. It is estimated that the metro segment will register the significant growth rate during the forecast period.
Asia-Pacific holds the largest share of the global train battery market. India, China, are the leading economies that are heavily investing in the rail network electrification, which in turn drove the regional market growth. Apart from Asia-Pacific, Europe also heavily investing in rail network infrastructure. In September 2023, the European Commission has allocated over USD 57.1 million (EUR 52 million)* through the Cohesion Fund to support the Romanian train procurement project. This project includes 37 electric trains for interregional railway routes. In April 2023, Koncar Electric Vehicles has announced the agreement with Leclanche to provide the battery systems for its new high-profile Croatian state railroad contract.
Major players operating in the global train battery market are ABB, Amara Raja, East Penn Manufacturing, ENERSYS, Exide Industries, HBL, Hitachi Rail, Hoppecke Batteries, Saft, Siemens Mobility, among others.
The key players of the market have adopted several growth strategies such as investment in R&D, new product launch and product enhancement, collaboration, etc. to improve their market share. In addition, in January 2022, Rio Tinto has agreed to purchase four battery-electric trains for use in the Pilbara region of Western Australia as part of the company’s strategy to reduce its carbon emissions by 50% by 2030.
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