Allied Market Research

2024

Solar Train Market

Solar Train Market Size, Share, Competitive Landscape and Trend Analysis Report by Application, by Operational Speed and by Battery Technology : Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Lalit Janardhan Katare
Publish Date:

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Solar Train Market Outlook 2021-2027:

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:

  • The global economy is in a state of shock due to the measures put in place across countries to ensure the containment of the COVID-19 pandemic.
  • The lockdowns & restrictions in the wake of the pandemic have made economies squelch across the globe, disrupting supply chains, delaying projects and creating a shortage of labor.
  • Due to pandemic, like every industry,the solar industry will be facing a series of short and long-term repercussions of the contagion.
  • The solar industry will have its share of immediate challenges due to COVID-19 such as shortage of manpower, adherence to social distancing, lack of parts and equipment and discerning expenditure by users.

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:               

Segments

Sub-segments

Propel Type

  • CElectro Diesel
  • Battery Operated
  • Hydrogen
  • CNG
  • LNG
  • Solar

Application

  • Passenger
  • Freight

Operational Speed

  • Below 100 km/h
  • 100-200 km/h
  • Above 200 km/h

Battery Technology

  • Gel Tubular
  • Valve Regulated Lead-Acid (VRLA)
  • Conventional Lead-Acid
  • Sinter PNE
  • Fiber PNE
  • Pocket Plate
  • Lithium-Ion

Key benefits of the report:

  • This study presents the analytical depiction of the solar train market industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the solar train market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the solar train market scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed solar train market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the solar train market research report:

  • What are the leading market players active in the solar train market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?

Solar Train Market Report Highlights

Aspects Details
Solar Train Market By Application
By Application
  • Passenger
  • Freight
Solar Train Market By Operational Speed
By Operational Speed
  • Below 100 km/h
  • 100-200 km/h
  • Above 200 km/h
Solar Train Market By Battery Technology
By Battery Technology
  • Gel Tubular
  • Valve Regulated Lead-Acid (VRLA)
  • Conventional Lead-Acid
  • Lithium-Ion
Solar Train Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players
Key Market Players

Riding Sunbeams, Hyundai Energy Solutions, Canadian Solar, ankset Energy, Greenrail, Central Electronics Limited (CEL), SolarWorld, LG Electronics, Jakson Engineers Limited, Byron Bay Railroad Company

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Solar Train Market

Global Opportunity Analysis and Industry Forecast, 2023-2032