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Traction Battery Market Trends, Top Companies, Share, Growth And Forecast 2032
Traction Battery Market
Traction Battery Market Size, Growth Rate, And Forecast
The global traction battery market size grew from $31.9 billion in 2022 to $36.18 billion in 2023 at a compound annual growth rate (CAGR) of 13.4%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The traction battery market size is expected to grow to $58.53 billion in 2027 at a CAGR of 12.8%.
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Traction Battery Market Drivers
The global traction battery market size grew from $31.9 billion in 2022 to $36.18 billion in 2023 at a compound annual growth rate (CAGR) of 13.4%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The traction battery market size is expected to grow to $58.53 billion in 2027 at a CAGR of 12.8%.
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Traction Battery Market Segments
• By Product Type: Lead Acid Based, Li-Ion Based, Nickel Based, Other Types
• By Capacity: Less than 100 Ah, 100 - 200 Ah, 200 - 300 Ah, 300 - 400 Ah, 400 Ah And above
• By Application: Electrical Vehicle (EV), Hybrid Electric Vehicles (HEV), Industrial, Forklift, Mechanical Handling Equipment, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the traction battery market.
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Traction Battery Market Key Players
Major competitors in the traction battery market include 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.
The Business Research Company's "Global Traction Battery Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Traction Battery Market 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
……
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
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