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Traction Battery Market Size In 2022: Revenue Forecast, Business Share And Industry Growth, Top Prominent Players, Regional Overview, Demand Status, And Forecast 2031
Traction Battery Market
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The global traction battery market report by the business research company identifies rising demand for electric vehicles is expected to fuel the growth of the traction battery to be a major growth driver for the traction battery market. Electric vehicles are environmentally friendly vehicles that are powered by electric power. The electric vehicle uses traction batteries to power the electric motor of the battery electric vehicle. For instance, according to International Energy Agency, a France-based autonomous intergovernmental organization, in the year 2020, the global electric car stock reached 10 million, a 43% increase over 2019. Also, according to Bloomberg New Energy Finance (BNEF), EVs are expected to hit 10% of global passenger vehicle sales by 2025, rising to 28% in 2030 and 58% in 2040 Therefore, the rising demand for electric vehicles is driving the growth of the traction battery market.
The global traction battery market 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The traction battery market is expected to grow to $52.29 billion in 2026 at a CAGR of 13.2%.
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North America was the largest region in the traction battery market in 2021. The regions covered in traction battery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major players in the organic food market 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 global organic food market is segmented -
1) By Product Type: Lead Acid Based, Li-Ion Based, Nickel Based
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 Vehicles (HEV), Industrial, Forklift, Mechanical Handling Equipment, Others Applications
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The Traction Battery Market Report Contents Include
1. Executive Summary
2. Traction Battery Market Characteristics
3. Traction Battery Market Trends And Strategies
4. Traction Battery Market - Macro Economic Scenario
5. Traction Battery Market Size And Growth
....
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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