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Traction Battery Market huge growth in the upcoming period 2024 Leading players | Camel Group, Johnson Controls, Hitachi, LG, Panasonic Corporation
Traction Battery Market
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U.S traction battery market was over USD 3 billion in 2017. Rising government mandates pertaining to limit carbon emissions and increasing energy efficiency will augment the industry growth. Furthermore, introduction of several policies, regulations & incentives in order to commercialize Evs will stimulate the product adoption. For instance, in 2017, the U.S. electric forklifts accounted for more than 60% of the total lift truck.
Leading Key Players in Traction Battery Market are:
Haze Batteries Europe Ltd., Banner Batterien, Midac S.P.A., BAE Batterien GmbH, Amara Raja, Chaowei Power Holdings Limited, First National Battery, Accumulatorenwerke HOPPECKE Carl Zoellner& Sohn GmbH, Coslight Technology International Group Ltd., C&D Technologies Inc., Leoch International Technology Limited, Enersys. Inc, NorthStar Battery Company LLC, Exide Industries, GS Yuasa Corporation
High charging efficiency along with declining costs will drive the Li-Ion traction battery market. Long service life, lightweight packs along with lower self-discharging rate makes the battery suitable for EV applications. In addition, their essential role in the electrification of transport sector further increases their dominance across the electric vehicle segment.
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China traction battery market is anticipated to grow over 11% by 2024. Rising concerns to curb greenhouse emissions coupled with favorable policy adoption will support the industry growth. Increasing investments along with tax credits to encourage the sales of these vehicles will substantially facilitate the product deployment. For instance, the government published 39 policies since 2009, 50% of which were pertaining to Evs. In addition, the Ministry of Finance in China approved around USD 15 billion to assist new EV development from 2011 to 2020.
Growth Drivers Traction Battery Market :
o Dynamic Uptake of Electric vehicles
o Growing Demand for electric forklifts
o Enhanced battery capacity and reducing costs
o Favorable Government Policies & Tax Incentives
Rapid industrialization driven by growing penetration of ecommerce along with the developments in the material handling technology will positively influence the forklift traction battery market. Lower operating cost and ability to contribute to limited emissions will complement the business outlook. In addition, rising GHG concerns will increase the adoption of electric forklifts and will further enhance the industry growth.
Traction battery market will witness an appreciable growth on account of rising awareness toward limiting emissions generated from the transport sector. Favorable government initiatives including tax incentives, rising investments of automobile manufacturers toward electric vehicle development will facilitate the adoption of traction batteries.
Table of content:
Chapter 4 Traction Battery Market, By Application
4.1 Traction battery market revenue share by application, 2017 & 2024
4.2 Electric vehicle
4.2.1 Global market by electric vehicle, 2013 - 2024
4.2.2 Global market by electric vehicle, by region, 2013 - 2024
4.2.3 Battery electric vehicle (BEV)
4.2.3.1 Global market by BEV, 2013 - 2024
4.2.3.2 Global market by BEV, by region, 2013 - 2024
4.2.4 Plug-in hybrid electric vehicle (PHEV)
4.2.4.1 Global market by PHEV, 2013 - 2024
4.2.4.2 Global market by PHEV, by region, 2013 - 2024
4.2.5 Electric vehicle market, by chemistry
4.2.6 Li-ion
4.2.6.1 Global market by Li-ion, 2013 - 2024
4.2.7 Ni-MH
4.2.7.1 Global market by Ni-MH, 2013 - 2024
4.2.8 Others
4.2.8.1 Global market by others, 2013 - 2024
4.2.9 Electric vehicle market, by capacity
4.2.10 0-20 kWh
4.2.10.1 Global market by 0-20 kWh, 2013 - 2024
4.2.11 21-60 kWh
4.2.11.1 Global market by 21-60 kWh, 2013 - 2024
4.2.12 61-90 kWh
4.2.12.1 Global market by 61-90 kWh, 2013 - 2024
4.2.13 Above 90 kWh
4.2.13.1 Global market by Above 90 kWh, 2013 - 2024
Read More About Traction Battery Market At https://www.globenewswire.com/news-release/2018/09/13/1570259/0/en/Traction-Battery-Market-revenue-worth-over-65-billion-by-2024-Global-Market-Insights-Inc.html
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