Press release
Traction Battery Market Outlook 2024: Exclusive Report By The Business Research Company
Traction Battery
The Business Research Company offers in-depth market insights through Traction Battery Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The traction battery market size has grown rapidly in recent years. It will grow from $36.14 billion in 2023 to $40.57 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to electrification of transportation, government incentives and regulations, environmental concerns, consumer awareness and demand.
The traction battery market size is expected to see rapid growth in the next few years. It will grow to $63.17 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to ev market expansion, energy storage applications, battery recycling and sustainability, charging infrastructure development, market diversification. Major trends in the forecast period include fast charging technology, second-life batteries, increased production capacity, advanced battery management systems, increased energy density.
Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=6051&type=smp
Market Segmentation:
The traction battery market covered in this report is segmented -
1) By Product Type: Lead Acid Based, Li-Ion Based, Nickel Based, Other Types
2) By Capacity: Less than 100 Ah, 100 - 200 Ah, 200 - 300 Ah, 300 - 400 Ah, 400 Ah And above
3) By Application: Electrical Vehicle (EV), Hybrid Electric Vehicles (HEV), Industrial, Forklift, Mechanical Handling Equipment, Other Applications
Major Driver - Electric Vehicle Boom Sparks Surge In Traction Battery Market
The rising demand for electric vehicles is expected to fuel the growth of the traction battery market going forward. Electric vehicles are environmentally friendly vehicles that are powered by electric power. The electric vehicle uses traction batteries to power the electric motor of the battery electric vehicle. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 from 3 million in 2020, representing almost 9% of total sales, and increased by 4 percentage points in 2021 as well, bringing the total number of electric vehicles on the road to 16.5 million. Therefore, the rising demand for electric vehicles is driving the growth of the traction battery market.
Competitive Landscape:
Major companies operating in the traction battery market include Amara Raja Batteries Limited, BAE Batterien GmbH, Banner Batterien GmbH, BYD Company Limited, Coslight Technology International Group Co. Ltd., East Penn Manufacturing Company Inc., EnerSys, Exide Industries Limited, GS Yuasa International Ltd., HOPPECKE Carl Zoellner & Sohn GmbH, Mutlu Akü ve Malzemeleri Sanayi Ticaret A.S., Sunlight Systems S.A., C&D Technologies Inc., Chaowei Power Holdings Limited, Leoch International Technology Limited, Sebang Global Battery Co. Ltd., Tesla Inc., Panasonic Corporation, LG Chem Ltd., Samsung SDI Co. Ltd., Contemporary Technology Co. Limited (CATL), Johnson Controls International plc, Saft Groupe S.A., Trojan Battery Company, A123 Systems LLC, Toshiba Corporation, Hitachi Chemical Co. Ltd., Narada Power Source Co. Ltd., NorthStar Battery Company LLC, Sumitomo Electric Industries Ltd., Crown Battery Manufacturing Company, Tadiran Batteries GmbH, Discover Battery, Manz AG, Sinopoly Battery Limited
Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/traction-battery-global-market-report
Top Trend - Technological Advancements To Provide Cost-Effective Batteries
The growing technological advancements are a key trend gaining popularity in the traction battery market. Major companies operating in the traction battery sector are focused on developing new technological solutions to provide cost-effective batteries and strengthen their position. For instance, in March 2022, Sunlight Group Energy Storage Systems, a Greece-based producer of integrated energy storage solutions, launched Sunlight ElectroLiFe, its newest semi-traction lithium-ion (Li-ion) battery. When used in manufacturing and light commercial vehicle applications like AGVs (automated guided vehicles) and other material handling machinery, ElectroLiFe's revolutionary lightweight yet strong design enables tool-free plug-and-play installation to meet changing customer needs. The battery is also capable of being connected to GLocal, a cloud platform run by Sunlight Group, and has an increased lifespan of more than 2,000 cycles.
The Table Of Content For The Market Report 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
…..
27. Traction Battery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Traction Battery Market Outlook 2024: Exclusive Report By The Business Research Company here
News-ID: 3394939 • Views: …
More Releases from The Business research company
Evolving Market Trends In The Integrated Geophysical Services Industry: Enhancin …
The Integrated Geophysical Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Integrated Geophysical Services Market Size During the Forecast Period?
The integrated geophysical services market has experienced consistent growth in recent years, expected to rise from $2.35 billion in 2024 to…
Global HR Advisory Services Market: Key Trends, Market Share, Growth Drivers, An …
The HR advisory services market report describes and explains the HR advisory services market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global HR advisory services market reached a value of nearly $155.74 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.22% since…
High Voltage Aluminium Electrolytic Capacitors Global Market Report 2025: Size, …
The high voltage aluminum electrolytic capacitors report describes and explains the high voltage aluminum electrolytic capacitors market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global high voltage aluminum electrolytic capacitors market reached a value of nearly $4.10301 billion in 2024, having grown at a compound annual growth…
Global Vertical Market Software Market: Key Trends, Market Share, Growth Drivers …
The vertical market software report describes and explains the vertical market software market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global vertical market software market reached a value of nearly $152.61027 billion in 2024, having grown at a compound annual growth rate (CAGR) of 12.11% since 2019.…
More Releases for Battery
Thin Film Micro Battery Market, By Rechargeability (Primary Battery, Secondary B …
The thin film micro battery market is expected to witness market growth at a rate of 30.9% in the forecast period of 2022 to 2029. Data Bridge Market Research report on thin film micro battery market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the demand for the Internet of Things (IoT)…
Deep Cycle Gel Battery Market 2022 Analysis by Top Leading Players | Trojan Batt …
The Deep Cycle Gel Battery Market report offers qualitative and quantitative insights as well as a thorough examination of the market size and expansion rate of all potential market segments. The report has been put together using primary and secondary research methodologies, which offer an exact and detailed understanding of the Deep Cycle Gel Battery market. The Deep Cycle Gel Battery Market is projected to succeed at a CAGR of…
Global Power Energy Storage Battery Market 2019 - Lithium Ion Battery,All-vanadi …
Power Energy Storage Battery Market
The Global Power Energy Storage Battery Market 2019 Research Report incorporates a total and careful investigation of Power Energy Storage Battery industry covering diverse perspectives like market volume, piece of the overall industry, advertise techniques, Power Energy Storage Battery development patterns, assortment of uses, use volume, request and supply examination, creation limit and Power Energy Storage Battery industry cost structures amid Forecast period from…
Space Battery Market analysis report- with Leading players, Types Nickel-based B …
Space Battery Market
The Space Battery Market is defined by the presence of some of the leading competitors operating in the market, including the well-established players and new entrants, and the suppliers, vendors, and distributors. The report also analyzes the development proposals and the feasibility of new investments. The Space Battery Market report has been collated in order to provide guidance and direction to the companies and individuals interested in buying this…
Global EV Battery Recycling Market : Nickel–Cadmium Battery, Nickel–Metal Hy …
The EV Battery Recycling Market Research Report consists of all the essential information in regards to the global market. This report presents an in-depth analysis of various industry factors, such as the market trends, dynamics, production, estimates, industry development drivers, size, share, investigation, supply, forecast trends, sales, industry demand, as well as several other factors.
The Global EV Battery Recycling Market report has been generated leveraging a target amalgamation…
Global Lead Acid UPS Battery Market 2017 : Sebang Global Battery, CSB Battery, H …
Global Lead Acid UPS Battery Market 2016-2017
A market study based on the " Lead Acid UPS Battery Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Lead Acid UPS Battery Market 2017’. The research report analyses the historical as well as present performance of the worldwide Lead Acid UPS Battery industry, and makes predictions on the future status of Lead Acid UPS Battery…
