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Traction Battery Market Growth Factors, Segmentation, Trends, Opportunities, Key Players and Forecast | Evolve Business Intelligence

02-06-2024 12:48 AM CET | IT, New Media & Software

Press release from: Evolve Business Intelligence

Traction Battery Market Growth Factors, Segmentation, Trends,

As per the study initiated by Evolve Business Intelligence, the global Traction Battery Market size accounted for USD 48 billion in 2022, growing at a CAGR of 20.10% from 2023 to 2033. The traction battery market involves the production and sale of rechargeable batteries used to power electric vehicles, industrial equipment, and other applications. These batteries are designed to provide high-power output and long operating life, making them suitable for electric vehicles, forklifts, buses, trucks, and other heavy-duty equipment. The global traction battery market was valued at US$ 36.98 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 8.2% to reach $63.17 billion by 2028. Key growth factors include the increasing demand for electric vehicles and the development of new and advanced battery technologies, while challenges include cost and charging infrastructure. The market is segmented based on product type, such as lead-acid based, li-ion based, and others, and is expected to offer significant growth opportunities in the coming years.

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Key Highlights:
• The global Traction Battery Market size was valued at USD 48 billion in 2022 growing at a CAGR of 20.10% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033

Evolve Business Intelligence has just unveiled its latest market research report focusing on the Global Traction Battery Market. This comprehensive report delves into various facets of the market, including market size and projections, market dynamics, competitor market share analysis, market value and volume, SWOT analysis, product comparisons, recent advancements by major players, and prospective opportunities. Furthermore, the market's evaluation in the dynamic chapter considers four key indicators: Drivers, Constraints, Emerging Trends, and Challenges..

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Key Players
Some of the major Traction Battery Market players holding high market shares include exide Industries Ltd., Leoch International Technology Limited Inc, Toshiba Corporation and Inci Aku. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
• exide Industries Ltd.
• Leoch International Technology Limited Inc
• Toshiba Corporation
• Inci Aku
• BAE Batteries GmbH
• GS Yuasa International Ltd.
• ECOVOLTA
• Banner Batteries (GB) Ltd.
• INTILION GmbH
• HOPPECKE Carl Zoellner & Sohn GmbH.

Segmental Analysis
Market Segment By Type
• Lead acid based
• Nickel based
• Lithium-ion based
• Others

Market Segment By Capacity
• Less than 100 Ah
• 100-200 Ah
• 200 Ah-300 Ah
• 300-400 Ah
• 400 Ah & above

Market Segment By Application
• Electrical vehicle (EV)
• Battery Electrical Vehicle (BEV)
• Plug-in hybrid electrical vehicle (PHEV)
• Hybrid electrical vehicle (HEV)
• Industrial
• Forklift
• Mechanical handling equipment
• Others
• .Locomotives
• Others

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Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

Reasons to Buy this Report:
• Comprehensive insights.
• Reliable and accurate data.
• Market size and dataforecast
• Competitive analysis.
• Identification of market opportunities.
• Risk identification and mitigation strategies.
• SWOT analysis.
• TAM Analysis
• Recent industry developments.
• Customization options.
• Expertise and guidance for strategic decision-making

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Evolve Business Intelligence
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Gujarat 396191
India
Email: sales@evolvebi.com
Website: https://evolvebi.com/

About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool - EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from Fortune's global 2000 companies.

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