Traction Batteries Market 2023 Driving Factors Forecast Research 2029

Traction batteries market is anticipated to grow at a CAGR of 10.5% during the forecast period. The market's growth is attributed to factors such as increasing demand for electric vehicles, stringent emission regulations, technological advancements in battery technologies, and the shift towards sustainable transportation solutions. Additionally, factors such as government incentives and investments in charging infrastructure are expected to fuel the demand for traction batteries. For instance, several countries are implementing policies and offering subsidies to promote the adoption of electric vehicles, thereby driving the growth of the traction batteries market. For instance, the US government established a $7,500 tax credit for BEV and PHEV cars acquired in and after 2010. In addition, as consumer preferences shift toward electric forklifts across the material handling industry, product penetration will increase therefore escalating the demand for the traction battery across the global.

Get Free Sample link @ https://www.omrglobal.com/request-sample/traction-batteries-market

The global traction batteries market is segmented based on its type, application, and capacity. Based on type, the market is segmented into lithium-ion batteries, nickel-metal hydride batteries, lead-acid batteries, solid-state batteries, and flow batteries. The application segment includes EVs which includes battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), commercial vehicles, rail, and forklifts. Furthermore, the market is categorized based on capacity, including less than 100 AH, 100-200 AH, 200-300 AH, 300-400 AH, and 400 AH & above. Among the application, the EVs sub-segment is anticipated to hold a prominent market share due to growing production and adoption of EVs around the globe.

full report of Traction Batteries Market available @ https://www.omrglobal.com/industry-reports/traction-batteries-market

• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Global Traction Batteries Market Report Segment
By Type
• Lithium-Ion Batteries
• Nickel-Metal Hydride Batteries
• Lead-Acid Batteries
• Solid-State Batteries
• Flow Batteries

By Application
• Electric Vehicles (EVs)
o Battery Electric Vehicles (BEVs)
o Hybrid Electric Vehicles (HEVs)
o Plug-In Hybrid Vehicles (PHEVs)
• Commercial Vehicles
• Rail
• Forklifts

By Capacity
• Less than 100 Ah
• 100-200 Ah
• 200-300 Ah
• 300-400 Ah
• 400 Ah & Above

Global Traction Batteries Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
The Report Covers
• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global traction batteries market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/traction-batteries-market

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404

This release was published on openPR.