Traction Battery Market Size 2022, Growth Drivers, Challenges, Trends And Market Dynamics Forecast To 2026

The global traction battery market size is expected to grow from $27.61 billion in 2021 to $31.88 billion in 2022 at a compound annual growth rate (CAGR) of 15.5%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The traction battery market is expected to reach $52.29 billion in 2026 at a CAGR of 13.2%.

The Business Research Company offers the Traction Battery Global Market Report 2022 in its research report store. It is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market’s historic and forecast growth, and highlights important trends and strategies that players in the market can adopt.

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The traction battery market consists of sales of traction batteries by entities (organizations, sole traders, and partnerships) that is a type of rechargeable battery used to power the electric motor in a hybrid electric vehicle or battery electric vehicle. The traction battery is an assembly of accumulators that consists of the storage of energy used to power the traction motor. The design of a traction battery standard is crucial for ensuring extended and trouble-free service life.

Some key traction battery market players are Amara Raja Batteries, BAE Batterien GmbH, Banner Batterien, BYD Company, Coslight Technology International Group Co. Ltd., East Penn Manufacturing Company, Enersys, Exide Industries Limited, GS Yuasa International Ltd., HOPPECKE Carl Zoellner & Sohn GmbH, Mutlu Incorporated, Sunlight, C&D Technologies Inc., Chaowei Power Holdings Limited, Leoch International Technology Limited Inc., and Sebang Global.

The countries covered in the global traction battery market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.

The regions covered in the global traction battery market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Traction battery Market Segmentation:
1) By Product Type: Lead Acid Based, Li-Ion Based, Nickel Based, Others
2) By Capacity: Less than 100 Ah, 100 – 200 Ah, 200 – 300 Ah, 300 – 400 Ah, 400 Ah and Above
3) By Application: Electrical Vehicle (EV), Hybrid Electric Vehicle (HEV), Industrial, Forklift, Mechanical Handling Equipment, Others

See more on the report at https://www.thebusinessresearchcompany.com/report/traction-battery-global-market-report

The Report’s Table Of Contents includes
1. Executive Summary
2. Traction Battery Market Characteristics
3. Traction Battery Market Trends And Strategies
4. Impact Of COVID-19 On Traction Battery
5. Traction Battery Market Size And Growth
……
26. Africa Traction Battery Market
27. Traction Battery Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Traction Battery Market
29. Traction Battery Market Future Outlook and Potential Analysis
30. Appendix

This report covers the trends and market dynamics of the traction battery market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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