Locomotive Lighting Batteries Market Snapshot 2023 to 2033
The global Locomotive Lighting Batteries market is expected to witness a market value of US$ 4.23 Billion in 2023 and is expected to accumulate a market value of US$ 7.94 Billion by registering a CAGR of 6.5% in the forecast period 2023 to 2033. The market for Locomotive Lighting Batteries market registered a CAGR of 3.3% in the historical period 2018 to 2022. Surge in the demand for energy efficient transport system across the globe is expected to accelerate the market growth.
As per Future Market Insights – market research and competitive intelligence provider, the global market value for Locomotive Lighting Batteries has been augmented, owing to the factors such as high expenditure on rail infrastructure including high-speed metro network in emerging economies.
For instance, in 2018, the Indian railways launched a self-propulsion type module sans locomotive capable of running at a very high speed. The trend of engineless as well as a greener transportation forms globally, is making space for battery powered locomotives. Thus, the manufacturers have been developing batteries which are robust and designed to meet the demanding performance requirement of the railways.
Factors such as increased focus towards environmental sustainability goals globally, increase in the number of passengers, particularly in the developing regions, expansion of automotive industry, specifically in the developing economies as well as stringent government norms and regulations, in regards to the pollution emission rate control parameters are anticipated to boost the growth of the locomotive lighting batteries market over the analysis period.
Additionally, improvement in railway infrastructure increases the speed as well as the efficiency of railway systems for freight and passenger transportation. Also, the deployment of an autonomous train needs to be backed up by a large investment. Governments of developing countries are investing heavily, in order to meet the requirements of the latest technology setup required for autonomous trains. Thus, this in turn is expected to foster the market growth during the forecast period.
For instance, as per the report from India Brand Equity Foundation organization, in November 2021, the Indian Railways announced that approximately 102 semi-high-speed Vande Bharat Expresses are expected to begin operations by 2024, with at least 10 new trains scheduled to launch by August 2022, which are estimated to connect 40 cities. The initiative gave a major boost to the Indian Railways on infrastructure modernization. The aforementioned factor is expected to create lucrative avenues for the market growth.
Rise in the electrification of trains, increase in the investments for research and development activities, surge in tourism industry globally, rise in urbanization in the emerging and advanced economies coupled with increasing hybrid rail systems are the other major factors that are likely to bolster the growth of the locomotive lighting batteries market in the forthcoming years.
On the regional end, the Asia Pacific locomotive lighting batteries market is expected to account for the highest share over the analysis period, on the back of factors such as continual surge in public expenditure for the development of railway sector, rising adoption of highly advanced technologies, increasing electrification of railways, strong demand for lithium-ion batteries in India, China, Japan, and South Korea. In addition, growth and expansion of automotive sector in the region, increase in personal disposable income, and increasing research and development activities are anticipated to fuel the regional market growth in the near future.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of locomotive lighting batteries are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, the Japan Railway Company, in July 2018, had demonstrated its first fully battery-operated Shinkasen N700S train at a press event. Also, a Canadian transportation company Bombardier had re-introduced the battery-powered electro-hybrid train named Bombardier Talent 3 in September 2018.
A train locomotive has several batteries used for different purposes. The locomotive lighting batteries provide power which is required to start the engine and to operate the electronics in the locomotive. When the engine is switched off and the alternator is not running the electrical power for the lights comes from a locomotive lighting batteries just like any other automobile.
In the quest to save energy and conserve fuels efforts are being made to develop completely battery powered locomotives, leading to the development of advanced locomotive lighting batteries and an upgraded battery management system. The safety of railway network also depends on the effective operation of locomotive lighting batteries. Hence batteries play vital role in the locomotive lighting as well as running.
Lead acid batteries generally used in electric locomotives are used for the working of control circuit, indication lamps protective relays etc. along with the operation of baby compressor. Heavy duty industrial batteries are used in diesel railway locomotives for starting and operation of a variety of on-board equipment.
The batteries used in locomotive operate under severe environmental conditions such as vibrations, humid atmospheres, high and low temperatures etc. Periodical maintenance is mandatory to ensure reliable operations for longer times.
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Locomotive Lighting Batteries Market: Dynamics
Railways form an integral part of the transportation system and are seen as part of the critical infrastructure in many countries. The rail industry faces challenge to maintain high performance under pressure with the growth in freight and passenger traffic. With the rise in demand for energy efficient transport system, the locomotive lighting batteries market is anticipated to witness substantial growth in the coming years.
In emerging economies, high expenditure on rail infrastructure such as high speed metro network is subsequently adding to the locomotive lighting batteries market.The emergence of engineless trains is anticipated to adversely impact the locomotive lighting batteries market.
For example, Indian railways launched a self-propulsion type module sans locomotive capable of running at a very high speed.The trend of greener transportation forms globally, is making space for battery powered locomotives. Hence manufacturers are building batteries which are robust and designed to meet the demanding performance requirement of the railways.
Locomotive Lighting Batteries Market: Regional Outlook
China, India and South Korea are the prominent countries in the implementation of high speed railway network in Asia Pacific, making it one of the most significant region for locomotive lighting batteries market growth.
Emerging economies and ongoing investments in railway infrastructure in Middle East and Africa is setting the way for locomotive lighting batteries market. North America is expected to witness growth in the locomotive lighting batteries market owing to growth in new high speed trains and metro.
Whereas Latin America is expected to show uptick growth in the market. Japan being one of the major countries in high speed rail network is projected to create opportunities for the locomotive lighting batteries market. Western Europe is expected to have fair share in the locomotive lighting batteries market growth.
Some of the market participants in the global locomotive lighting batteries market, identified across the value chain include:
EXIDE INDUSTRIES LTD
Hunan YUTONG mining equipment Co. Ltd
Microtex Energy Private Limited
ENERSYS
Storage Battery Systems, LLC
Amara Raja Batteries Ltd.
Toshiba Corporation
Hitachi Chemical Co., Ltd.
HOPPECKE Batterien GmbH & Co. KG
Saft Groupe S.A.
The research report on the Locomotive Lighting Batteries market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The Locomotive Lighting Batteries market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as geography, aircraft type, and sales channel.
The report covers exhaustive analysis on
Locomotive Lighting Batteries Market Segments
Locomotive Lighting Batteries Market Dynamics
Locomotive Lighting Batteries Market Size
New Sales of Locomotive Lighting Batteries
Current Trends/Issues/Challenges in the Locomotive Lighting Batteries Market
Competition & Companies Involved in Locomotive Lighting Batteries
New Technology for Locomotive Lighting Batteries
Value Chain of the Locomotive Lighting Batteries Market
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Regional analysis includes
North America (USA, Canada)
Latin America (Mexico, Brazil)
Western Europe (Germany, Italy, France, United Kingdom, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The global Locomotive Lighting Batteries market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
