Traction Battery Market Analytical Overview and Growth Opportunities by 2032

The global traction battery market size was valued at $31.6 billion in 2020, and is projected to reach $69.2 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030.

A recent market research report added to repository of Analytics Market Research is an in-depth analysis of Global Traction Battery Market. On the basis of historic growth analysis and current scenario of Traction Battery market place, the report intends to offer actionable insights on Global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of Global Traction Battery market. This further helps user with their developmental strategy.

This report examines all the key factors influencing growth of Global Traction Battery market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of Global Traction Battery market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, scope of NPD in new markets, pricing strategies, innovation possibilities and much more.

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An electric vehicle battery with a high ampere-hour capacity is known as a traction battery. Forklift trucks, locomotives, and mechanical handling equipment are the principal uses for lead acid traction batteries.

The demand for electric vehicles has increased as a result of rising fuel price volatility and growing environmental awareness. For instance, a report by the International Energy Agency (IEA) titled Global EV Outlook 2020 claims that the number of electric car sales worldwide in 2019 exceeded 2.1 million, representing a 40% increase year over year. Also, the development of electric vehicles will be boosted by factors including the electrification of the transportation sector and increased investments. Due to the rising demand for electric vehicles, traction batteries, which power the electric motors of electric or hybrid vehicles, have experienced tremendous growth. This may serve as one of the primary forces accountable for the traction battery market expansion. Moreover, qualities like recyclability, affordability, and environmental friendliness are giving products an extra boost. to the market's expansion in the electric vehicle segment, consequently boosting overall market expansion.

Yet, the transportation industry is responsible for around 28% of all carbon emissions in the United States. To lower emissions, the government is continually working to raise public awareness of electric vehicles. Unfortunately, due to a lack of available space, funding, electrification, and other factors, the development of charging infrastructure for electric vehicles has seen a substantial setback in many nations. Throughout the forecast period, this factor is anticipated to limit the growth of the traction battery market.

The growing demand for electric vehicles, on the other hand, has accelerated R&D efforts to increase battery efficiency by optimising the charge cycle and lowering the unit consumption per charge. Furthermore, the competition among traction battery producers to produce highly effective traction batteries has intensified due to the development of batteries with high energy density.hybrid and electric automobiles. All of these elements are anticipated to present significant prospects for the worldwide traction battery market in the future.

The product type, capacity, application, and region are taken into consideration when analysing the traction battery market. The market is divided into lead acid based, nickel based, lithium ion based, and other product types depending on type of product. The global traction battery market is divided into five categories based on capacity: less than 100 Ah, 100 to 200 Ah, 200 to 300 Ah, 300 to 400 Ah, and 400 Ah and above. The study's covered applications include industrial, locomotives, electrical vehicles, and others. The market is examined in terms of regions, including North America, Europe, Asia-Pacific, and LAMEA.

The research of the worldwide market includes comprehensive data on the main players in the traction battery market.

Market Segmentation
Global Traction Battery Market: Major Players
Hitachi
Enersys
Johnson Controls
East Penn Manufacturing
Mutlu
LG Chem
Hoppecke Batteries
Systems Sunlight
Haze Batteries
Exide
Banner Batterien
Samsung
GS Yuasa
Panasonic
Amara Raja Batteries
BYD Company

Global Traction Battery Market: By Types
Lead Acid
Li-Ion
Nickel Based
Others

Global Traction Battery Market: By Applications
Electric Vehicles
Industrial
E-bikes

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Global Traction Battery Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Traction Battery market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Key benefits for stakeholders

Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.

It outlines the current traction battery market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.

The major countries in the region have been mapped according to their individual revenue contribution to the regional market.

The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.

The profiles of key players and their key strategic developments are enlisted in the report.

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