North America Solar Powered Trains Market: Current Analysis and Forecast (2024-2032)

A solar power train is a train that uses solar energy as its primary source of power. The train's roof is typically covered with photovoltaic panels that capture energy from the sun and convert it into electricity that can be used to power the train. The use of solar power in trains has several potential advantages. It can help to reduce carbon emissions and make transportation more sustainable. It can also reduce the dependence on fossil fuels and provide a reliable power source in areas where electricity may be limited or unreliable. While solar power trains are still in their early stages of development, they have the potential to become a more common form of transportation as the demand for sustainable energy solutions continues to grow. As technology advances and the cost of photovoltaic panels continues to decrease, solar power trains may become a more cost-effective and environmentally friendly option for transportation.

The North American Solar Powered Trains Market is expected to grow at a steady rate of around 3.1% owing to the increasing adoption of renewable energy, the increasing demand for economical transportation services, and the stringent government regulation to reduce the carbon footprint. Major companies in the market are focusing on providing solar-powered trains with technologically advanced features along with new product launches, collaboration, and mergers & acquisitions. For instance, in 2021, the northern Argentine province of Jujuy obtained a USD 75m loan from the Latin America Development Bank (CAF) to start a 300km solar-powered train line. Trains are fitted with solar panels on their roofs and powered by batteries charged at a newly built 6MW solar farm and stations 10km apart.

Based on the panel location, the market is segmented into roof-mounted, near-track, and on-track. The roof-mounted segment is expected to witness significant growth during the forecast period. A roof-mounted solar power train is a type of train that has solar panels installed on its roof to generate electricity for its onboard systems. The solar panels on the train's roof absorb sunlight and convert it into electrical energy, which is then used to power the train's lighting, air conditioning, and other systems as well as reduce the train's reliance on fossil fuels and can make it more environmentally friendly.

Based on the application, the market is bifurcated into freight and passenger. The passenger train segment is expected to grow significantly 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. This can help reduce the train's carbon footprint and energy costs. Passenger solar power trains are a promising and sustainable transportation option that can help reduce carbon emissions and dependence on fossil fuels. However, they may have limitations in terms of the amount of energy they can generate and store, which can affect their speed, range, and passenger capacity.

Based on the operating speed, the market is segmented below 100 Km/h, 100-200 Km/h, and above 200 Km/h. The below 100 Km/h segment will witness a significant CAGR during the forecast period. As the solar-powered trains market is in the initial phase, this segment is expected to witness higher adoption as the pilot projects worldwide. These trains typically use photovoltaic panels, which convert the energy from sunlight into electrical energy that can be used to power the train's electric motors. In addition to solar panels, solar power trains may also incorporate energy storage systems, such as batteries or supercapacitors, to ensure that the train has enough energy to operate even during periods of low sunlight or when traveling through tunnels or other areas with low levels of sunlight.

For a better understanding of the market adoption of the solar-powered trains industry, the market is analyzed based on its North America presence in countries such as the U.S., Canada, and the Rest of North America. The United States is expected to grow significantly during the forecast period. This is mainly due to the increasing focus on sustainable transportation and the need to reduce carbon emissions. The United States has seen a significant surge in the adoption of solar-powered trains, marking a pivotal shift towards sustainable transportation solutions. This trend is fueled by several factors, including increasing awareness of environmental issues, government incentives promoting renewable energy, and technological advancements in solar energy systems. Solar-powered trains offer a promising alternative to traditional diesel-powered locomotives, reducing carbon emissions and dependency on fossil fuels. As more railway operators and authorities prioritize sustainability goals, there are chances to see continued growth and investment in the solar-powered trains market across the United States, contributing to a cleaner and greener future for transportation infrastructure.

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.