Global Battery Market for Railways 2016-2020
About Railway Batteries
Railway batteries are generally used for rolling stock or stationary applications. Rolling stock batteries are used for starting locomotives, lightings, and on-board auxiliary systems used in engines and coaches; whereas, stationary batteries are used as emergency backup power for railroad crossings, signal towers, and signaling systems.
Technavio’s analysts forecast the global battery market for railways to grow at a CAGR of 3.8% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global battery market for railways for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the major vendors in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Battery Market for Railways 2016-2020
Technavio recognizes the following companies as the key players in the global battery market for railways: EnerSys, Exide India Limited, Exide Technologies, HBL, and Saft.
Other Prominent Vendors in the market are: Amara Raja, HOPPECKE, GS Yuasa, and Quallion LLC.
Commenting on the report, an analyst from Technavio’s team said: “One of the key trends for market growth will be growth in urban mobility solutions. With economic growth, countries are increasing their investment in railway infrastructure projects to provide better public transport services. This includes increasing connectivity between cities, line of operations for inter-city transits, and high-speed trains. India is making a huge investment for developing metro and monorail projects to enhance public transport connectivity. Delhi, Mumbai, and Bangalore have established metro railway projects. Cities such as Lucknow, Pune, and Chandigarh have monorail projects in the pipeline that are expected to be completed by 2020. People are driven to use public transport like metros and monorails for commuting as it saves cost on fuel and time. Thus, the growing popularity of these modes of transportation in India will lead to an increase in demand for passenger railway vehicles, which will drive the growth of the market.”
According to the report, one of the key drivers for market growth will be Significant investment initiatives in public transit systems by many countries worldwide have helped to boost the market growth for rolling stock. Electric train networks are excellent alternatives to road transportation networks and airways that are prone to congestion. The plunge in fuel prices is also prompting an increase in number of people to choose trains over road or air transports.
Further, the report states that one of the challenges for the market will be slow progress of railway projects. The railway sector in many developing and developed countries is solely government-owned and not privatized. For instance, the Indian Railways is owned and managed by the government of India. As some of these government entities or public sector establishments are enduring huge losses, they are unable to take up new railway infrastructure growth projects. The deficit financing in the railway sector affects the market negatively, as the sector is experiencing losses and will not be able to take new loans to finance railway infrastructure projects.
EnerSys, Exide India Limited, Exide Technologies, HBL, Saft, Amara Raja, HOPPECKE, GS Yuasa, and Quallion LLC.
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