Electric Train Market 2018-2027: Regional Analysis and Forecast | Techsci Research

TechSci Research report says that the global electric train market will experience significant growth during the forecast period from 2023-2027. The primary drivers of this growth are the increased demand for technologies that can reduce carbon emissions from trains and strict emission regulations. Additionally, efforts to improve railway connectivity in developing nations and rising government expenditure on public transportation systems will further boost market demand. The emergence of dual-mode technology and a shift towards autonomous engines for longer routes will also contribute to the growth of the electric train market. However, the market's growth may be limited by the high cost of initial infrastructure development during the forecast period.

The global electric train market is segmented into train type, speed, battery type, energy transfer, regional distribution, and competitive landscape.

During the forecast period of 2023-2027, the global electric train market is segmented into passenger and freight categories. The passenger segment is expected to hold the largest market share. Electric trains offer a cost-effective and efficient means of transportation for passengers. Major cities worldwide are implementing new rail infrastructure projects and supportive government policies to reduce greenhouse gas emissions. Passengers prefer trains for long-distance travel due to their comfort and ability to cover long distances quickly. The increasing demand for connectivity, comfort, and safety from developing countries as well as rapid urbanization is expected to fuel the demand for electric passenger trains in the coming years.

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The global electric train market is segmented based on speed, train type, battery type, and energy transfer. In terms of speed, the market is categorized into less than 100 km/h, 100-200 km/h, and above 200 km/h, with the 100-200 km/h segment projected to capture the highest market share during the forecast period. This is primarily due to the fact that most electric trains operate in this speed range, with many companies also introducing electric trains in this category.

Regarding battery type, the market is divided into gel tubular, lead acid, lithium-ion, and others, with the gel tubular battery type expected to account for a significant market share over the next five years. This is due to its several advantages such as being maintenance-free, spill-proof, corrosion-resistant, and vibration-resistant, as well as having the lowest cost-per-month and lowest cost-per-cycle. These benefits are expected to fuel the demand for gel tubular batteries in the coming years.

Furthermore, the market is segmented based on energy transfer, which is divided into overhead lines, third rail, and on-board energy storage. Overhead lines are projected to drive market demand over the forecast period. They are considered 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, ultimately lowering the cost of power distribution. These benefits of transferring energy through overhead lines are expected to accelerate the segment's growth in the coming years.

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.

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“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.

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