Global Locomotive Lighting Batteries Market, By Locomotive Type (Diesel Locomotive, Electric Locomotive, Diesel Multiple Unit (DMU), Electric Multiple Unit (EMU), Hybrid Locomotive and Battery Operated Locomotive), Battery Type (Lead-acid Battery, Lithium Ion and Nickel Cadmium), Sales Channel (Original Equipment Manufacturers (OEM) and Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Locomotive Lighting Batteries Market
Data Bridge Market Research analyses that the locomotive lighting batteries market would exhibit a CAGR of 6.50% for the forecast period of 2022-2029. Growing number of passengers especially in the developing economies, increased focus towards environmental sustainability goals globally, growth and expansion of automotive industry especially in the developing economies and stringent government norms and regulations in regards to the pollution emission rate control parameters are the major factors attributable to the growth of locomotive lighting batteries market. Therefore, the locomotive lighting batteries market value, which was USD 3,589.30 million in 2020 would rocket up to USD 6,326.39 million by 2029.
From the name itself, it is clear that locomotive lighting batteries are used to charge and power the engine. The locomotive lighting batteries are power up the engine which in turn is responsible for performing the push-pull operations. Generally, lead-acid batteries are used in the locomotives. However, rising technological advancements is promoting the application of lithium ion batteries.
Growth in the level of investments for research and development activities and flourishing tourism industry will foster in growth in the locomotive lighting batteries market value. Rising urbanization in the emerging and advanced economies coupled with rising hybrid rail systems will also create lucrative growth opportunities for the locomotive lighting batteries market. Growth in the electrification of trains, surging demand for high speed trains, rising demand for energy efficient transport system and rising public expenditure for the development of railways sector especially in the developing economies will also foster the locomotive lighting batteries market growth.
However, lack of technological expertise in the developing and underdeveloped economies will pose a major challenge to the locomotive lighting batteries market growth rate. High costs involved with technological innovations and research and development proficiencies and huge capital investment coupled with high operating cost of high-speed rail network will hamper the locomotive lighting batteries market growth rate. Further, fluctuations in the prices of raw materials and high installation and maintenance costs will also restrict the scope of growth for the locomotive lighting batteries market.
This global locomotive lighting batteries market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on locomotive lighting batteries market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Locomotive Lighting Batteries Market Scope and Market Size
The global locomotive lighting batteries market is segmented on the basis of locomotive type, battery type and sales channel. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of locomotive type, the locomotive lighting batteries market is segmented into diesel locomotive, electric locomotive, diesel multiple unit (DMU), electric multiple unit (EMU), hybrid locomotive and battery operated locomotive.
- On the basis of battery type, the locomotive lighting batteries market is bifurcated into lead-acid battery, lithium ion and nickel cadmium.
- On the basis of sales channel, the locomotive lighting batteries market is segmented into original equipment manufacturers (OEM) and aftermarket.
Locomotive Lighting Batteries Market Country Level Analysis
The global locomotive lighting batteries market is analysed and market size insights and trends are provided by country, locomotive type, battery type and sales channel as referenced above.
The countries covered in the locomotive lighting batteries market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the locomotive lighting batteries market and will continue to flourish its trend of dominance during the forecast period owing to the increasing public expenditure for the development of railway sector, surging electrification of railways, growing adoption of highly advanced technologies, strong demand for lithium ion batteries in China, South Korea, India and Japan, increasing research and development activities, growth and expansion of automotive sector in this region and rising personal disposable income.
The country section of the locomotive lighting batteries market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Locomotive Lighting Batteries Market Share Analysis
The locomotive lighting batteries market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to locomotive lighting batteries market.
Some of the major players operating in the locomotive lighting batteries market are Panasonic Corporation, Tesla, SAMSUNG SDI CO.,LTD., LG Chem., Saft, Total, Lithium Energy Japan, Tianjin Lishen Battery Co., Ltd, Shenzhen A&S Power Technology Co., Ltd., LITHIUMWERKS, GlobTek, Inc., BYD Company Ltd., VARTA AG., Dalian CBAK Power Battery Co., Ltd, TOSHIBA CORPORATION, CALB USA Inc., Shenzhen BAK Technology Co., Ltd., A123 Systems LLC, Amperex Technology Limited and XALT Energy among others.
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