Press release
Future of the Traction Battery Market: Trends, Innovations, and Key Forecasts Through 2034
Traction Battery Market Size
Traction Battery Market Size Growth Forecast: What to Expect by 2025?
The market size of the traction battery has seen rapid expansion in recent years. It is projected to escalate from $39.91 billion in 2024 to $44.47 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.4%. Key factors that have driven growth during the historic period include the electrification of transport, governmental incentives and regulations, environmental considerations, and increased consumer awareness and demand.
How Will the Traction Battery Market Size Evolve and Grow by 2029?
In the coming years, the traction battery market is projected to experience swift expansion, swelling to a $68.71 billion worth by 2029, with a compound annual growth rate (CAGR) of around 11.5%. Factors contributing to the growth during the predicted period include expansion of the electronic vehicle market, the use of batteries in energy storage applications, recycling and sustainability of batteries, development in charging infrastructures, and market diversification. The forecasted trends include quick charging technologies, second-life batteries, enhanced production capability, progressive battery management systems, and improved energy density.
View the full report here:
https://www.thebusinessresearchcompany.com/report/traction-battery-global-market-report
What Drivers Are Propelling the Growth of Traction Battery Market Forward?
The escalating interest for electric vehicles is projected to drive the traction battery market's expansion. Electric vehicles, which are eco-friendly and operate on electric power, use traction batteries to fuel their electric motors. Sustainable Bus, a media firm based in Italy that concentrates on sustainable buses, reported a 53% rise in the European electric bus registration in 2023 compared to 2022. As such, the burgeoning need for electric vehicles is fuelling the growth of the traction battery market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6051&type=smp
Which Emerging Trends Are Transforming the Traction Battery Market in 2025?
The traction battery market is increasingly benefiting from advancements in technology. Key players within the industry are focusing their attention on formulating new tech solutions in order to deliver more cost-effective products and solidify their standing in the market. One such instance is Sunlight Group Energy Storage Systems - a Greece-based integrated energy storage solutions company - who, in March 2022, unveiled the Sunlight ElectroLiFe, their latest semi-traction lithium-ion (Li-ion) battery. Through its lightweight, powerful construction, the Sunlight ElectroLiFe provides easy plug-and-play installation without needing tools, making it suitable for manufacturing and light commercial vehicle applications like AGVs (automated guided vehicles) and other material handling equipment. These adjustments accommodate evolving client requirements. Not only is the battery connectable to GLocal, a cloud platform managed by Sunlight Group, but it also boasts a prolonged lifespan of over 2,000 cycles.
What Are the Key Segments in the Traction Battery Market?
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
Subsegments:
1) By Lead Acid Based: Flooded Lead Acid Batteries, Absorbent Glass Mat (AGM) Batteries, Gel Lead Acid Batteries
2) By Li-Ion Based: Lithium Cobalt Oxide (LCO) Batteries, Lithium Iron Phosphate (LFP) Batteries, Lithium Nickel Manganese Cobalt (NMC) Batteries, Lithium Polymer (LiPo) Batteries
3) By Nickel Based: Nickel-Cadmium (NiCd) Batteries, Nickel-Metal Hydride (NiMH) Batteries
4) By Other Types: Sodium-Ion Batteries, Solid-State Batteries, Flow Batteries
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=6051&type=smp
Who Are the Key Players Shaping the Traction Battery Market's 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 Amp Technology Co. Limited (CATL), 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, Sinopoly Battery Limited
What Geographic Markets Are Powering Growth in the Traction Battery Market?
North America was the largest region in the traction battery market in 2024. The regions covered in the traction battery market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Purchase the full report:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6051
This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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 Future of the Traction Battery Market: Trends, Innovations, and Key Forecasts Through 2034 here
News-ID: 4082540 • Views: …
More Releases from The Business Research Company
C-X-C Chemokine Receptor Type 2 Market on Track for Strong Growth, Estimated to …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the C-X-C Chemokine Receptor Type 2 Market Through 2025?
There has been a significant expansion in the market for C-X-C chemokine receptor type 2 in the past few years. The market is projected to increase from $1.24 billion in 2024 to $1.38 billion…
Top Market Shifts Transforming the Coenzyme Q10 Market Landscape: Key Insights
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Coenzyme Q10 Market Through 2025?
The market size of coenzyme Q10 has seen impressive expansion in the past years, with predictions stating an increase from $0.74 billion in 2024 up to $0.84 billion in 2025, implying a compound annual growth rate (CAGR)…
2025-2034 Chimeric Antibody Market Evolution: Disruptions, Innovations, and Unta …
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Chimeric Antibody Market Through 2025?
In recent times, there has been a swift expansion in the chimeric antibody market size. We can expect an increase from $12.27 billion in 2024 to $13.74 billion in 2025, reflecting a compound annual growth rate (CAGR)…
2025-2034 Chimeric Antibody Market Evolution: Disruptions, Innovations, and Unta …
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Chimeric Antibody Market Through 2025?
In recent times, there has been a swift expansion in the chimeric antibody market size. We can expect an increase from $12.27 billion in 2024 to $13.74 billion in 2025, reflecting a compound annual growth rate (CAGR)…
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…
