With increase in urban population Frank Thomas White Sox Jersey , there is a rising demand for urban transport, especially metros, monorails, and light trains. Alternatively Early Wynn White Sox Jersey , the growing demand for luxury and comfort has increased the electrical applications in passenger coaches. All these factors together are projected to drive the demand for railway batteries in the coming years. The train battery market is projected to grow at a CAGR of 5.15% from 2018 to 2025. From a market size of USD 470.5 million in 2018, it is projected to reach USD 703.2 million by 2025.
Rolling stock is a highly regulated industry and most of the countries have a regulator body that sets the standards for the battery type that can be used in trains. Adoption of new battery types such as lithium-ion would be slower in countries with nationalized rail network and few private players.
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LITHIUM ION BATTERIES: A PROMISING BATTERY TYPE FOR RAILWAYS