Market Trends of Train Battery Industry
This section covers the major market trends shaping the Train Battery Market according to our research experts:
Rising Demand for Auxiliary Battery to Propel Market Growth
- Across the globe, the passenger network in the railways has witnessed a four-fold increase owing to expansion in the railway network by the regional government and cost affordability offered by railway transportation.
- The demand for expanding the railway network infuses the adoption potential of metros, passenger coaches, and trams offered with viable heating, ventilation, and air conditioning (HVAC)units to maintain a pleasant ambient temperature.
- Key companies and the government are wrapping up projects, introducing new train coaches, and updating the current fleet with more advanced HVAC systems. The majority of the new changes can be seen around the passenger train.
- For instance, in February 2022, Maharashtra Rail Infrastructure Development Corporation Limited (MRIDC) invited proposals from interested railway contractor companies to develop the Pune -Nashik semi-high-speed rail corridor jointly. Coaches were built using a variety of cutting-edge innovations, including plumbing, HVAC, and other utilities.
- In August 2021, Indian Railway announced that its most premium passenger train, Rajdhani Express, will soon get a smart makeover. The new coaches in the train enable a smarter environment for passengers and will enhance overall safety and comfort. All the coaches shall be enabled with smarter HVAC systems to regulate the air quality in the coaches.
- Considering these factors and development, demand for the auxiliary battery is anticipated to witness a high growth rate during the forecast period.
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Asia-Pacific is Expected to Grow at the Fastest Rate in the Market
- Asia Pacific accommodates the largest Railway network keeping the global economy way ahead with its freight and logistic transportation and passenger traffic expansion. Key Asian-Pacific countries, including India, China, and Japan, accommodate vast rail networks, providing potential demand for the train battery.
- India has the fifth largest metro network in the world. As of September 2022, Metro lines in India surpassed 20 cities with total coverage of 810 kilometres. In addition, the country hosts 980 km of pipeline projects of metro and rapid rail transit covering 27 cities. State-level government authorities are taking serious initiatives to boost the metro network in their respective cities.
- For instance, in November 2022, the Telangana government decided to spend approximately INR 6,250 crore (around USD 750 Million) to extend the Hyderabad Metro to the Rajiv Gandhi International Airport (RGIA) in Shamshabad. On December 9, 2022, Chief Minister K Chandrashekar Rao laid the foundation for the 31-km Airport Metro route.
- In November 2022, the Kolkata government approved the Indian Railways for commencing the commercial operation of metro trains on the additional 6.5 km long Joka-Taratalametro corridor. The station covered under this pipeline's metro line includes Joka, Thakurpur, Sakherbad, Behala Chowrasta, Behala Bazar, and Taratala.
- Furthermore, China is also focusing on expanding its infrastructure network to provide momentum to its railway sector. In 2021, China invested USD 117.86 billion in fixed rail assets, and its plan for 2022 was to invest in 3,300 km of new railway lines, in which approximately 1400 km of the railway lines are high-speed rail, and 1900 km of railway lines are normal speed rail tracks.
- Considering these factors and development, demand for locomotives, passenger coaches, metro, etc., is anticipated to provide significant momentum to the train battery market.
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