New supportive government regulations and the trend toward greener forms of transport are expected to drive the demand for the global electric train market in the forecast period, 2023-2027.
According to TechSci Research report, “Electric Train Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global electric train market is anticipated to grow at a significant rate in the forecast period, 2023-2027. The rise in demand for technologies that can lower the carbon emissions from trains and stringent emission norms are the primary factors driving the demand for the global electric train market. Growing efforts to increase railway connectivity in developing countries and the rise in government expenditure on comfort for public transportation system is expected to influence the market demand. The emerging dual mode technology and changing preference for autonomous engines for longer routes are further expected to bolster the global electric train market growth in the coming years.
However, the high initial infrastructure development cost may restrain the global electric train market growth in the forecast period.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Electric Train Market"
The global electric train market is segmented into train type, speed, battery type, energy transfer, regional distribution, and competitive landscape.
Based on the train type, the market is bifurcated into passenger and freight. The passenger segment is expected to hold the largest market share in the forecast period, 2023-2027. The electric train offers cost-effective and efficient transportation of passengers. Major cities across the globe are implementing new rail infrastructure projects and supportive government policies to lower greenhouse emissions in their respective countries. Passengers prefer to travel long distances via trains as trains are more comfortable and can cover long distances in a short duration. Rapid urbanization and enhanced demand for connectivity, comfort, and safety from developing countries to carry a large number of passengers in a single go are expected to fuel the demand for electric passenger trains in the coming years.
Based on speed, the market is divided into less than 100 km/h, 100-200 km/h, and above 200 km/h. The 100-200 km/h segment is expected to capture the highest market share in the forecast period. The majority of the electric trains run between the speed of 100-200 km/h, and companies are also introducing electric trains in this range. The presence of a large number of trains supporting this speed range is driving the segment demand.
Based on battery type, the market is divided into gel tubular, lead acid, lithium-ion, and others. The gel tubular battery type is expected to account for a significant market share over the next five years. They are maintenance-free and spill-proof. They have minimal corrosion and are very safe. Gel tubular batteries are rugged and vibration resistant. They have the lowest cost-per-month and lowest cost-per-cycle. The advantages of using gel tubular batteries are expected to boost their demand in the coming years.
Based on energy transfer, the market is divided into overhead lines, third rail, and on-board energy storage. Overhead lines are expected to drive the market demand over the next five years. They are more cost-effective and can efficiently carry more power compared to other modes of energy transfer since they allow the use of higher voltages than third rails, which ultimately lowers the cost of power distribution. The benefits of transferring energy through overhead lines are expected to accelerate the segment growth over the forecast period.
Major operating companies operating in global electric train market are:
- Siemens AG
- Bombardier Inc.
- General Electric Company
- CRRC Corporation Limited
- AEG Power Solutions
- Stadler Rail AG
- Alstom SA
- Kawasaki Heavy Industries Ltd.
- Transmash Holding AG
- Hitachi Ltd.
Customers can also request for 10% free customization on this report.
“The Asia-pacific region dominates the market and is expected to maintain its dominance in the coming years due to several ongoing projects to launch electric trains. Asia-pacific is one of the largest rail industries in the world, and the initiatives towards achieving net-zero emissions are expected to drive the demand for electric vehicles. China, India, and Japan are investing significant amounts in the development of electric train infrastructure and are actively promoting eco-friendly trains in their countries. Also, the high population rate, rapid urbanization, and the expanding railway network, and massive popularity of public transportation services are expected to propel the global electric train market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Electric Train Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Train Type (Passenger, Freight), By Speed (Less than 100 km/h, 100-200 km/h, Above 200 km/h), By Battery Type (Gel Tubular, Lead Acid, Lithium-Ion, Others), By Energy Transfer (Overhead Lines, Third Rail, On-Board Energy Storage), and By Region”, has evaluated the future growth potential of global electric train and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global electric train market.
Mr. Ken Mathews
708 Third Avenue,
New York – 10017
Email: [email protected]