Technavio, a tech-focused market research firm, has published a new report on the global battery market for railways, which is expected to experience a steady growth rate with a CAGR of close to 4% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global battery market for railways for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global battery market for railways into the following key regions: EMEA, the Americas, and APAC.
Geographical segmentation of the global battery market for railways for 2015 (market share %)
|
EMEA |
55% |
|
Americas |
24% |
|
APAC |
21% |
Source: Technavio
EMEA: Largest revenue generating region in the battery market for railways
In 2015, the EMEA led the global battery market for railways by accounting for around 55% of the overall market revenue. In this region, Western Europe is a major revenue contributor, followed by Eastern Europe, and CIS. The battery market for railways in EMEA has a huge scope for growth during the forecast period owing to increased investments on the enhancement of production capacities by key railway vendors such as Alstom, Siemens, and Standler.
According to Vishu Rai, a lead analyst at Technavio, specializing in research on energy storage, “There has been a significant increase in the investments made on railway infrastructure projects in Gulf cities such as Dubai and Doha. The projects include metro and monorail systems that enhance the public transportation services. This initiative to improve the improve the existing infrastructure in the region is spurred by the growth of high-speed trains. The governments of the Middle Eastern countries are investing greatly in establishing sustainable and active railway networks to connect its oil and gas sector, mining sector, and ports.”
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Battery market for railways in the Americas
The battery market for railways in the Americas posted a revenue of almost $104 million in 2015 and is expected to grow at a CAGR of around 4% over the next four years. The market in North America is stagnant as the markets in the US and Canada have already reached saturation in rolling stock. The leading country in North America is the US with a large railway network of almost 155,343 miles. Latin America, on the other hand, is expected to undergo high growth. Increased investments in railway infrastructure projects in Brazil and governments plans to enhance and expand the urban transportation system in Argentina are factors fueling the growth of the market in the Latin Americas region during the forecast period.
Battery market for railways in APAC
The market in APAC, which accounted for around 21% of the global market during 2015, is projected to undergo slow growth during the forecast period. The growing railway deficit and loss-making government railway organizations in this region are the key factors decelerating the growth of the battery market for railways in APAC. Furthermore, bureaucracy for finalization of projects and tenders is hindering the growth of the railway supplies market in the region.
China, Japan, India, and South Korea are the major revenue generators for the rolling stock market and battery market for railways in APAC. In terms of procurement intensity, China and India lead the pack. Their governments of these countries are expected to focus on the electrification of the railway tracks and the improvement of the railway infrastructure during the forecast period.
The top leading vendors operating in the battery market for railways are:
- EnerSys
- Exide India Limited
- Exide Technologies
- HBL
SaftOther prominent vendors in the market include Amara Raja, Quallion LLC, GS Yuasa, and HOPPECKE.
A more detailed analysis is available in the Technavio report titled, ‘Global Battery Market for Railways 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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