Train Battery MarketTrain Battery Market was estimated at USD 495 million in 2021 and is forecast to reach USD 743 million in 2029, growing at a CAGR 5.2% over the upcoming period.The factors driving the growth of Train Battery Market includes expansion of the rail networks around the world, growing adoption of autonomous trains, emerging need to reduce the carbon emissions and upgradation of mass transport systems such as metros and trains. According to the report published by Bloomberg, the Global Autonomous Train Market was calculated around USD 8.3 billion for 2022 and this figure is predicted to reach USD 12.3 billion by the end of 2030, expanding at a CAGR of 5.1% over the forecast period (2022-2030), which will boost the Train Battery Market size in the coming years. Moreover, growing demand for faster transportation systems, increasing adoption of advanced technologies in the railway industry such as Artificial Intelligence (AI), Internet of Things (IoT) and Machine Learning to enhance customer’s experience, are some of the additional factors supplementing the Train Battery Market share. In addition, the increasing investments by leading players on research and development, rise in Government’s budget for the railway sector, improvements in the living standards, rapid urbanization, and growing population growth rates, are further contributing to the market growth.Request a free sample of this reportHowever, the growth of Train Battery Market is hindered due to high operational cost of high-speed railway network.The major players operating in the market are EnerSys, Toshiba, Saft, East Penn Manufacturing Company, Power & Industrial Battery Systems Gmbh, SEC Battery, Sapien LLC, Hoppecke, Hitachi, Exide Industries and Amara Raja, among others.Based on Type, the Lithium-Ion Battery segment is predicted to expand at a remarkable CAGR during the forecast period Increasing deployment of lithium-ion batteries at trains and metros, are propelling the growth of the segment.Based on Application, the Hybrid Train segment is projected to hold the highest market share over the forecast periodAs per the Train Battery Market Analysis, growing demand for hydrogen fuel cell powered trains across the world and rapid urbanization, are some of the factors responsible for the segment’s growth.Based on Region, the North American region is anticipated to capture the largest market share during the forecast periodRise in the number of electric trains, Government initiatives to promote the use of lithium-ion batteries, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America. Key Developments:In 2020, Siemens in partnership with Deutsche Bahn have launched local hydrogen trains trial based on electric railcar Mireo Plus, to replace diesel engines on the local German rail networks.In 2019, EnerSys acquired NorthStar for USD 182.5 Million, to enhance the manufacturing capacity of world class NexSys® motive power batteries and SBS® battery products.Market SegmentationSegmentation by TypeLithium Ion BatteryLead Acid BatteryNickel Cadmium BatterySegmentation by ApplicationHybrid TrainAutonomous TrainFully-Battery Operated TrainSegmentation by Region       Asia PacificChinaJapanIndiaRest of APACNorth AmericaUnited States of AmericaCanadaEuropeUnited KingdomGermanyFranceSpainRest of EuropeRoWBrazilSouth AfricaSaudi ArabiaUAEAbout GMI ResearchGMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.Media ContactCompany Name: GMI RESEARCHContact Person: Sarah NashEmail: [email protected]: Europe – +353 1 442 8820; US – +1 860 881 2270Address: Dublin, IrelandWebsite: https://www.gmiresearch.com/