The train battery market share will post incremental growth of USD 179.11 million, progressing at a CAGR of 5.45% during the forecast period. The increasing popularity of high-speed and autonomous railways will offer immense growth opportunities to market vendors. The market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Browse Technavio's 157-page report and in-depth TOC on "Train Battery Market by application (auxiliary battery and starter battery), battery type (lead-acid, lithium-ion, and nickel-cadmium), and geography (Europe, APAC, North America, South America, and Middle East and Africa).
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The train battery market is segmented by application (auxiliary battery and starter battery), battery type (lead-acid, lithium-ion, and nickel-cadmium), and geography (Europe, APAC, North America, South America, and Middle East and Africa).
The growth of the train battery market size in the auxiliary segment will be significant during the forecast period. APAC is estimated to contribute 37% to the growth of the global market during the forecast period. The majority of technological advances in the automotive industry of Europe are driven by the rising stringency of emission regulations and safety and fuel efficiency standards of Europe.
The increasing popularity of high-speed and autonomous railways will directly influence the sales of train batteries. In addition, the implementation of technologies such as IoT and big data is one of the major train battery market trends that will positively impact the market growth. However, factors such as the high investments in initial infrastructure will hamper the train battery market growth.
The market is fragmented due to the presence of several players. Some of the major train battery market vendors are Accumulatorenwerke HOPPECKE Carl Zoellner and Sohn GmbH, AEG Power Solutions BV, Amara Raja Group, East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., First National Battery, Furukawa Electric Co. Ltd., HBL Power Systems Ltd., Hitachi Ltd., JFM Engineering Inc., Leclanche SA, Microtex Energy Pvt. Ltd., Saft Groupe SAS, Schaltbau Holding AG, Star Battery Ltd., Stryten Energy, Toshiba Corp., Wisdom Industrial Power Co. Ltd., and GS Yuasa Corp.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2023-2027.
CAGR of the train battery market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the train battery market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the train battery market.
Train battery market industry growth across Europe, APAC, North America, South America, and the Middle East and Africa.