openPR Logo
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

02-19-2019 11:47 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Traction Battery Market

Traction Battery Market

Traction Battery Market size will surpass USD 65 Billion by 2024, as reported in the latest study by Global Market Insights, Inc.

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.

Report Content

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

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com
Explore Our Blog @ http://allnewsmyway.com

This release was published on openPR.

Permanent link to this press release:

Copy
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: 580

More Releases from Global Market Insights, Inc.

Air Compressor Market with COVID-19 impact by Design, Business, Application and …
The global air compressor market size is expected to reach USD 107.5 billion by 2026, progressing at a CAGR 5.2% over the forecast period, according to a new report by Global Market Insights, Inc. Global air compressor market is expected to surpass the valuation of $107.56 billion through 2026.Increasing global demand for industrial refrigeration chillers is set to drive the global air compressor market growth over the forthcoming timeframe. Increasing prominence
Increasing Need for Proper Animal Nutrition to Foster the Demand for Yeast Marke …
Consider the following pointers: • In 2016, nearly 50 zoo animals were declared dead in the Venezuelan capital of Caracas, mainly due to prolonged starvation or improper nutrition in the feed. • Approximately 350 million tons of meat is being consumed worldwide every year. The above-mentioned figures and statistics are a testament to the fact that lack of proper components in the animal feed can have an influential impact on both animals and
Vacuum Pumps Market to 202, Future Outlook, COVID-19 Impact Analysis, Forecast 2 …
Vacuum Pumps Market size to Hit $7 Billion by 2026 with CAGR of 7.1% from 2020 to 2026. The vacuum pumps market size is anticipated to surpass USD 7 billion by 2026. The global vacuum pumps market size is anticipated to depict quite an expansion in the years ahead, driven by the robust growth of the electronics and semiconductors sector worldwide. The advent of e-commerce and the rising number research programs
Conveying Equipment Market size is anticipated to witness healthy growth through …
The conveying equipment market size is expected to exceed more than US$ 65 Billion by 2026; Growing at a CAGR of more than 3.5% in the given forecast period 2020 to 2026. Ongoing investments by top retail players, alongside e-Commerce industry expansion, are expected to give conveying equipment market share a substantial boost over the projected timeframe. For instance, Alibaba Group Holding Ltd. announced the commercial platform expansion to small U.S. businesses

All 5 Releases


More Releases for Traction

Global Traction Chains Market Growth 2019-2024
Market Research Report Store offers a latest published report on Traction Chains Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. This report focuses on the key global Traction Chains players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Traction Chains with respect to individual
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
Ultrasound Market Gaining Good Traction over 2025
Global Ultrasound Market: Overview The increasing number of pregnancies and medical complications have been driving the global ultrasound market for the past few years. Hospitals are showing fast adoption of ultrasound devices in areas of urology, radioecology, gynecology, cardiology, vascular, and others. Though radiology/general imaging has a dominant share in the market, the cardiovascular segment is projected to show rapid progress due growing demand for understanding complicated problems associated with the
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