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Traction Batteries Market Will Generate Record Revenue by 2029

10-11-2023 08:12 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Traction Batteries Market Will Generate Record Revenue by 2029

The global traction batteries market is anticipated to grow at a CAGR of 10.5% during the forecast period. The demand for electric vehicles (EVs) is increasing due to environmental concerns and government incentives, which is driving the growth of the traction battery market. Traction batteries are essential for powering electric drivetrains and providing the necessary energy for propulsion. Technological advancements in battery technology have improved energy density, reduced costs, and increased charging speeds, making EVs more practical and appealing to a wider consumer base. The market players such as nanoFlowcell, Nilar International, and Offgrid Energy Labs, among others are significantly contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. These players focuses on developing advanced and energy-efficient traction battery solutions to meet the evolving demands of the electric vehicle industry and enhance their market position. For instance,

In October 2022, Swedish startup Nilar International offers a sustainable solution for renewable energy storage with its batteries. The company's batteries are produced with 100% renewable energy and can be revived to full capacity at least three times through the Nilar patentedprocess. The technology allows used batteries to be refilled with gas to restore the original capacity, making it the world's first battery that can be refilled with new life.
In October 2022, Swedish co. nanoFlowcell established a US division to introduce its flow battery technology to America, starting with flow cell cars. The nanoFlowcell battery uses electrolyte fluids to generate electricity from chemical compounds, and the electrolyte used in the battery has an energy density of 600 Wh per litre. The company's batteries are environmentally friendly and much cleaner and safer than lithium-ion batteries and can withstand up to ten times more.
In April 2022, Offgrid Energy Labs launched ZincGel products in India. ZincGel is a highly efficient alternative to costly imported batteries in India, offering energy efficiency at par with lithium-ion products. The innovative ZincGel Battery Technology is suitable for stationary and low-powered mobility applications and can be modified based on application requirements.

To Request a Sample of our Report on Traction Batteries Market:  https://www.omrglobal.com/request-sample/traction-batteries-market

Market Coverage

The market number available for - 2023-2030
Base year- 2022
Forecast period- 2023-2030

Segment Covered- 

By Type
By Application
By Capacity

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape- Includes Panasonic, Contemporary Technology Co. Ltd. (CATL), LG Chem., BYD Company Ltd., and Samsung SDI Co. Ltd., among others.

A full Report of Traction Batteries Market is Available @  https://www.omrglobal.com/industry-reports/traction-batteries-market

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)
Battery Electric Vehicles (BEVs)
Hybrid Electric Vehicles (HEVs)
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

Traction Batteries Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles

ABB Ltd.
CHINA BAK BATTERY INC.
Duracell Co.
East Penn Manufacturing Co.
ENERSYS 
EnerSys Reserve Power Pte. Ltd. 
Exide
GS Yuasa Group
Hitachi India Pvt. Ltd.
HOPPECKE Carl Zoellner & Sohn GmbH 
Johnson Controls
Saft Groupe SAS 
Tesla
Toshiba Corp.
Valence 

Reasons to buy from us -

We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.

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

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no:  +91 7803040404

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.

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