Report Code: A10074 | Nov 2023 | Pages: NA | ||
Tables: NA | Charts: NA |
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The solar train is powered by solar energy which can be considered a major renewable source of energy, and now can be used as a source of energy in trains. Moreover, solar-powered trains are powered by placing photovoltaic panels close to or on rail lines. These photovoltaic panels are able to generate a considerable amount of electricity that could trigger traction current to enable trains in moving forward. In addition, the train can quickly get recharged using electricity by a static solar panel at each stop, as it follows a straight and fixed-route The idea of attaching solar panels to railway sleepers on the roof is also gaining considerable traction in the industry, as it potentially allows for solar photovoltaic panels to work on long routes at relatively low costs. Also, the basic principle of the solar powered train is to use energy stored in battery systems during and after charging it from roof-mounted solar panels. The energy from charged storage batteries is used to drive the engine and move the train in a forwarding direction. The development of solar-powered trains with onboard energy storage capability via solar and electrical energy offers a significant reduction in energy consumption compared to conventional electrified trains with an overhead power feeding system which is expected to boost the growth of the solar train market during the forecast period.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast units | Value (USD) |
Segments covered | Propel Type, Application, Operational Speed, Battery Technology |
Regions covered | North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa) |
Companies covered | Bankset Energy, Greenrail, Riding Sunbeams, Byron Bay Railroad Company, Jakson Engineers Limited, Central Electronics Limited (CEL), SolarWorld, LG Electronics, Canadian Solar and Hyundai Energy Solutions |
COVID-19 scenario analysis:
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Some of the factors that boost the market growth include rise in demand for energy-efficient and less polluting train operations and the benefits of hybrid trains over conventional diesel trains. However, high development cost and complexities involved in hybrid train technologies and related infrastructure and refurbishment of existing trains are anticipated to hamper the growth of the market. Furthermore, the availability of alternative fuel options, government support for alternative fuel-powered railway operations, and increase in railway operations in industrial and mining activitiesare expected to offer lucrative opportunities for the marketduring the forecast period.
The solar train markettrends are as follows:
Rise in demand for energy-efficient and less polluting train operations
An increase in concerns about carbon emission across the globe due to conventional railways and the efficiency offered by this mode of transport is boosting the global solar-powered train market. Moreover, rail networks and infrastructure facilities in major cities across the world have expanded substantially over the years. In addition, the increase in investments made by numerous governments across the globe to develop railway infrastructure has created opportunities for train manufacturers to expand their geographical presence which further boost the solar train market growth during the forecast period.
Benefits of hybrid trains over conventional diesel trains
The diesel-electric hybrid trains are going to cut emissions by up to 90% and to decrease fuel consumption by up to sixty percent when compared to conventional diesel-powered locomotives. Solar-powered trains can provide several financial benefits to rail networks that are currently relying on grids. Lack of funds and rapid attainment of the full capacity of grids are making it harder to generate electricity from renewable sources to power the railways. In addition, the rise in global rail freight is anticipated to propel the solar-powered trains market during the forecast period. Hence, the increase in demand for energy across the globe has led to the exploration of new sources of energy and is likely to drive the growth of the global solar train market during the forecastperiod.
Key segments covered:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Segments | Sub-segments |
Propel Type |
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Application |
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Operational Speed |
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Battery Technology |
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Key benefits of the report:
Questions answered in the solar train market research report:
Solar Train Market Report Highlights
Aspects | Details |
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By Application |
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By Operational Speed |
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By Battery Technology |
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By Region |
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Key Market Players | Greenrail, Hyundai Energy Solutions, Central Electronics Limited (CEL), Canadian Solar, Jakson Engineers Limited, ankset Energy, LG Electronics, Byron Bay Railroad Company, SolarWorld, Riding Sunbeams |
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