Traction Battery Market a Comprehensive Analysis | Key Players - Johnson Controls, East Penn Manufacturing, Exide, Samsung, Hitachi, BYD Company, LG Chem, Panasonic, Mutlu, Enersys, Systems Sunlight, GS Yuasa, Amara Raja Batteries
Strengthening demand for electric vehicles due to favorable government policies and mandates will stimulate the Traction battery market size. Changing consumer preference toward electric forklifts to enhance industrial businesses along with decline in battery costs will fuel the industry growth. For instance, according to IEA, the global sales of new electric cars surpassed 1 million units in 2017, thus showcasing a growth of nearly 54% as compared to 2016.
Request for Sample Copy of this research report @ https://www.gminsights.com/request-sample/detail/2888
The U.S. market, in 2017 was valued over USD 3 billion. The Federal policies including purchase incentives and tax credits for EV’s will propel the industry growth. In addition, the reduced emissions and operational benefits from electric forklifts in the industrial applications will accelerate the deployment of these batteries. For instance, electric forklifts in U.S. accounted for over 60% of the overall lift truck in 2017.
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Traction Battery Industry Insights
Chapter 4 Traction Battery Market, By Application
Chapter 5 Traction battery market, By Chemistry
Chapter 6 Traction Battery Market, By Region
Chapter 7 Company Profiles
Li-Ion traction battery market is anticipated to expand over 13% by 2024. Growing investments to increase production capacity, sharp decline in price, and high cyclability will augment the industry growth. Li-Ion batteries play an imperative role in electrification of the automotive sector, owing to its vast applicability across electric vehicles and ebikes.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2888
China market is predicted to expand over 11% by 2024. The industry growth is largely attributed to the policies along with the introduction of tax incentives to promote the sales of electric vehicles. For instance, the national government, published around 39 policies since 2009 out of which nearly 50% were pertaining to electric vehicles, thereby facilitating the product deployment. According to the China New Energy Vehicle Development Project, The Ministry of finance, granted RMB100 billion to support the development of new electric vehicles during 2011-2020.
Forklift traction battery market will witness growth on account of growing industrialization, driven by material handling industry and increasing penetration of ecommerce. In addition, the growing prominence of electric forklifts as a means to minimize GHG emission will further stimulate the industry growth. The ability to offer lesser emissions and lower operating costs in comparison to internal combustion models will further complement the business outlook.
Browse key industry insights spread across 370 pages with 570 market data tables & 37 figures & charts from the report @ https://www.gminsights.com/industry-analysis/traction-battery-market
Favorable policy implementations and growing concerns to reduce the emission levels contributed by the transport sector will augment the market growth. Government led tax incentives, ambitious manufacturing targets, and growing investments of automotive manufacturers toward EV development will further facilitate the large-scale deployment of these batteries.
Notable industry participants in the traction battery market include Johnson Controls, East Penn Manufacturing, Exide, Samsung, Hitachi, BYD, LG Chem, Panasonic, Mutlu, Enersys, Systems Sunlight, GS Yuasa, Amara Raja Batteries, Hoppecke Batteries, Haze Batteries, Banner Batterien, Midac NorthStar Battery Company, amongst others.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Explore Our Blog @ http://allnewsmyway.com
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Traction Battery Market a Comprehensive Analysis | Key Players - Johnson Controls, East Penn Manufacturing, Exide, Samsung, Hitachi, BYD Company, LG Chem, Panasonic, Mutlu, Enersys, Systems Sunlight, GS Yuasa, Amara Raja Batteries here
News-ID: 1599367 • Views: 567
More Releases from Global Market Insights, Inc.
Hypochlorite Bleaches Market to hit US$ 300 Mn 2025 | Top Key Players like Adity …
As per the research report by Global Market Insights, Inc., Global Hypochlorite Bleaches Market to cross USD 300 million by 2025 and grow at 3.4% CAGR from 2019 to 2025. It has been projected that the Global hypochlorite bleaches market is expected to reach a consumption of around 485-kilo tons by 2025. Water scarcity as well as rising water costs have led to more emphasis being laid on water recycling and
Feminine Hygiene Products Market: Growing awareness regarding intimate health in …
Global Market Insights, Inc., announces an ongoing comprehensive report on the Feminine Hygiene Products Market. One of the most hushed topics across the world is female hygiene, the negligence of which results in several diseases. Studies claim that nearly 30% to 60 % women across the globe develop urinary tract infection once in their lifetime, mainly due to negligence in proper intimate hygiene. Dearth of knowledge regarding the negative consequences of
Examination Gowns Market 2020 business trends & growth opportunities to 2026
Global Market Insights, Inc., announces an ongoing comprehensive report on the Examination Gowns Market. The exposure to various kinds of hospital acquired infections has led to a spate of health problems for the healthcare professionals as well has the patients. In this regard, experts have been massively shifting to adoption of personal protective equipment or clothing, examination gowns, protecting them from all kinds of infections. These gowns are present in the
Nonwoven Packaging Market to witness increased demand from pharmaceutical sector …
Global Market Insights, Inc., announces an ongoing comprehensive report on the Nonwoven Packaging Market. With the world struggling to fight against negative consequences of industrialization and increased carbon emissions, nonwovens or nonwoven fabrics have emerged as an intrinsic solution for all ecological imbalances across the globe. These fabrics are made from staple fiber and long fibers, merged together by chemical, heat, or mechanical treatment. These are generally used in textile manufacturing
More Releases for Traction
Vanillin Market gained high traction over years
Vanillin is primarily used in the food and beverages industry to enhance the sweetness of food items such as chocolates, candy, biscuits, ice-creams and cakes. Vanillin is extracted from an extract of the vanilla bean, and it’s considered to be an organic compound. Vanillin can be produced naturally or it can be chemically synthesized. The seed pods of vanilla planifolia is used to extract the natural vanillin. In order to
Managed Services Market gained traction over 2025
Managed Services Market: Snapshot The growing trend of adopting emergent technologies among enterprises to stay ahead of their competitors has been propelling the global managed services market significantly. The continual rise in the intricacy of technological solutions and the increasing dependency over the heterogeneous networks of infrastructure and application are also driving the growth of this market across the world. However, the long-term recurring expenses and the doubts regarding the efficacy
Hydrogen Storage Market Procure Sinewy Traction 2025
Global Hydrogen Storage Market: Overview The vast rise in demand for alternate power owing to depleting reserves and environmentally harmful nature of conventional power production processes has compelled researchers and government bodies to focus more on reliable alternative power sources in the past years. Research activities in this area have demonstrated the possible use of hydrogen as one of the key contenders in the field of alternative power. The vast potentials
Traction Equipment Market By Equipment Type Segment Analysis ( Traction Transfor …
ALBANY, NY, March 30, 2017 : This report by Transparency Market Research analyzes, estimates, and forecasts demand for traction equipment on the global and regional level for an eight-year period from 2016 to 2024 in terms of volume and cumulative revenue. The study also provides information on restraints, drivers, and opportunities along with their impact on the overall market during the forecast period. The report segments the market on the
Traction Equipment Market (Equipment Type - Traction Transformer, Traction Motor …
The global traction equipment market is extremely technology-centric and is immensely fragmented. Despite the fact that only companies that can provide cost-effective and high-efficiency products can sustain in this market, the degree of competition is anticipated to remain high during the forecast period owing to the constant demand for traction equipment, especially from emerging markets. The global rise in the demand for mass transportation can be attributed to the surge in
Level Crossing Removal Project gains traction
25th May, Melbourne, VIC: The Victorian government has embarked on an ambitious plan to remove 50 of the state’s most dangerous and congested level crossings around Melbourne. With 18 removals currently underway, the Victorian government has allocated $2.4 billion as part of the Victorian Budget 2015-16 towards the removal of at least 20 level crossings by 2018, with further plans to remove all 50 level crossings by 2022. Melbourne currently has