Solar Powered Train Market: Introduction
- Solar energy can be considered a major renewable source of energy. It can be used as a source of energy in trains.
- Solar powered trains are powered by placing photovoltaic panels close to or on rail lines. These photovoltaic panels are able to generate considerable amount of electricity that could trigger traction current to enable trains in moving forward.
- 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 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
- The basic principle of 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 forward direction.
- Development of solar powered train with onboard energy storage capability via solar and electrical energy offers significant reduction in energy consumption compared to conventional electrified train with an overhead power feeding system
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Key Drivers of Global Solar Powered Train Market
- Increase in concerns about carbon emission across the globe due to conventional railways and efficiency offered by this mode of transport is boosting the global solar powered train market
- Rail networks and infrastructure facilities in major cities across the world have expanded substantially over the years. Additionally, 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.
- Solar powered trains can provide several financial benefits to rail networks that are currently relying on grids. Lack of funds and rapid attainment of full capacity of grids are making it harder to generate electricity from renewable sources to power the railways.
- Rail freight has risen steadily over the past 20 years. It continues to rise in most countries, according to the International Energy Agency (IEA). Rail uses almost 90% less energy than trucks per unit of freight. Thus, rise in global rail freight is anticipated to propel the solar powered trains market during the forecast period.
- Increase in demand for energy across the globe has led to exploration of new sources of energy. This is likely to drive the global solar powered train market.
Restraints of Solar Powered Train Market
- Replacement of existing steam & diesel engines in trains powered by conventional fossil fuels with solar powered systems can be cost intensive, as systems need to be changed without affecting the operational hours. Furthermore, investment costs of these plants differ from one region to another, depending on solar intensity and its uniformity.
- Approximate cost of a solar panel is up to US$ 1,500 per kW capacity. However, the final price is calculated as per the panels and storage capacities required. Hence, the overall cost of solar panels is high. Lack of domestic production facilities of solar hardware units in many developing countries is one of the major reasons for the high cost of solar panels.
- Bankset Energy Corporation announced plans to install solar PV on railway sleepers across the globe. The company also revealed that the first installation took place in Switzerland and work is underway on projects in many countries such as Germany, the U.K., France, the U.S., China, and Italy. Furthermore, the company aims to install solar PV on railway sleepers in Austria and Spain.
- In July 2019, Riding Sunbeams collaborated with Network Rail to use solar panels to power trains in Southeast England in order to leverage renewable energy and reduce its carbon footprint. It also launched the first pilot scheme for solar powered trains.
- In July 2017, Indian Railways, under the concept ‘Make in India,’ launched the first solar powered DEMU (diesel electrical multiple unit) train from the Safdarjung railway station in Delhi. The train runs from Sarai Rohilla in Delhi to Farukh Nagar in Haryana. This train has total of 16 solar panels, with combined capacity of 4800 Wp, all these panels are fitted in six coaches.
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Asia Pacific to Offer Growth Opportunities to Solar Powered Train Market
- Based on region, the global solar powered train market can be divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific is likely to dominate the market, as it possess a strong rail network, especially in countries such as China and India
- The route network of Indian Railways is spread over 115,000 km, with 12,617 passenger trains and 7,421 freight trains running each day from 7,349 stations plying 23 million travelers and 3 million tons (MT) of freight daily. Furthermore, India's railway network is recognized as one of the largest railway systems in the world under single management.
- Rapid growth in economy in China is encouraging the train network to improve transport systems in the country and make them more ecofriendly. Use of solar powered trains for large scale run could be a major breakthrough.
Key Players Operating in Global Solar Powered Train Market
Major players operating in the global solar powered train market include:
- Bankset Energy
- Riding Sunbeams
- Byron Bay Railroad Company
- Jakson Engineers Limited
- Central Electronics Limited (CEL)
- LG Electronics
- Canadian Solar
- Hyundai Energy Solutions
- Hanwha S&C
- Trina Solar
- SunPower Corporation
- Axitec LLC
- Kyocera Corporation
Global Solar Powered Train Market, by Application
Global Solar Powered Train Market, by Panel Location
- Roof Mounted
- On Track
- Near Track
Global Solar Powered Train Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
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- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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10. What will be the barrier to entry for new players in the market?
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