Global Solar Powered Trains Market is expected to foresee significant growth. Europe to lead the growth!

Solar power trains have been gaining attention in recent years as a potential solution for reducing carbon emissions in the transportation sector. Solar-powered trains rely on photovoltaic panels to capture energy from the sun and convert it into electricity that can be used to power the train. The market for solar-powered trains is still in its early stages, but there are some initiatives and companies working on developing this technology. For example, Indian Railways has launched a pilot project to develop a solar-powered train, which has been running successfully since 2017. The train has solar panels installed on its roof and generates around 7,200 kilowatt-hours of electricity annually, which is enough to power its lights and fans.

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The Solar Powered Trains Market is expected to grow at a steady rate of around 4% during the forecast period (2022-2028) owing to the increasing adoption of renewable energy coupled with the increasing demand for the economic transportation service along with the stringent government regulation to reduce the carbon footprint. Major market companies focus on providing solar-powered trains with technologically advanced features, new product launches, collaboration, and mergers & acquisitions. For instance, in July 2019, Riding Sunbeams inked an agreement with Network Rail to incorporate the solar panel to power the train in Southeast England to run on the existing rail network.

Based on the panel location, the solar-powered trains market is segmented into roof-mounted, near-track, and on-track. The roof-mounted segment is expected to register significant growth during the forecast period. In the roof mounted solar powered train solar panels capture the energy from the sun and convert it into electrical energy, which is then used to power the train’s motor and other systems. However, a roof-mounted solar power train is a specific design that focuses on placing the solar panels on the train’s roof to maximize the surface area exposed to sunlight. In addition to being environmentally friendly, a roof-mounted solar power train could also potentially reduce the costs associated with powering a train, as it would require less fuel and may not need to be connected to the electricity grid.

Based on the application, the market is bifurcated into freight and passenger. The passenger train segment is expected to register significant growth during the forecast period. Passenger trains are used to carry people and are powered in part or whole by solar energy. Solar panels are installed on the roof of the train to capture energy from the sun, which is then used to power the train’s systems. The solar panels on the train roof can provide energy to power various onboard systems, such as lighting, heating and air conditioning, and entertainment systems.

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For a better understanding of the market adoption of the solar-powered trains industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Europe is anticipated to grow at a substantial CAGR during the forecast period. The European Union has set ambitious climate goals to achieve carbon neutrality by 2050, and transportation is a significant contributor to greenhouse gas emissions. To achieve these goals, many European countries are investing in sustainable transportation solutions, including solar power trains. Several countries in Europe have already implemented solar-powered trains or are in the process of developing them. For example, in Belgium, a 2.2 km long railway tunnel has been covered with solar panels to power trains passing through it. In the Netherlands, a solar-powered train has been developed that is currently in operation on a small scale, and there are plans to expand its use. In France, a pilot project is underway to develop a train powered entirely by hydrogen fuel cells, which could also potentially be powered by solar energy.

Some of the major players operating in the market include Bankset Energy, GREENRAIL, Jakson Group, LG Electronics, Central Electronics Limited, WorldSolar, Trina Solar, KYOCERA Corporation, Canadian Solar, and AXITEC, LLC.

Global Solar Powered Trains Market Segmentation

Market Insight, by Panel Location

· Roof-Mounted

· Near Track

· On Track

Market Insight, by Application

· Freight

· Passenger

Market Insight, by Operating Speed

· Below 100 km/h

· 100-200 km/h

· Above 200 Km/h

Market Insight, by Region

· North America

o US

o Canada

o Rest of North America

· Europe

o Germany

o United Kingdom

o France

o Italy

o Spain

o Rest of Europe

· Asia-Pacific

o China

o Japan

o India

o Rest of Asia-Pacific

· Rest of the World

Top Company Profiles

· Bankset Energy

· GREENRAIL

· Jakson Group

· LG Electronics

· Central Electronics Limited

· WorldSolar

· Trina Solar

· KYOCERA Corporation

· Canadian Solar

· AXITEC, LLC