Traction Battery Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

  • Single User License $3500

Traction Battery Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : November, 2021 | Energy & Mining

Report Digest


Traction Battery Market: Overview

The market for traction batteries is developing rapidly. A traction battery or electric vehicle battery is a battery that is utilized to control the battery electric automobile. Traction batteries are the rechargeable battery. Traction battery identifies with every one of the batteries used to control electric vehicles. The rising utilization of these batteries in various type of vehicles including a forklift truck, mobility scooter, and numerous more are driving the global traction batteries market.

The global traction battery market is divided based on chemistry, application, type, and geography. According to the application, the electric vehicles traction battery market is foreseen to develop more in forthcoming years. Fortifying government strategies alongside rising concerns related to decrease GHG discharges, will accelerate the business viewpoint.

Traction Battery Market: Trends and Opportunities

Developing interest for electric vehicles driven by the development in transport industry is expected to propel growth of the global traction battery market. The market is basically determined by great government regulations and policies to develop EV's. Moroever, sharp decrease in battery expenses and rising speculations by significant automakers in battery innovation will additionally bolster the business development.

Positive financial development over the rising economies alongside moving concentration toward electric forklift will invigorate the global market measure. These are progressively being set up by the material handling sector, inferable from their nature-friendly and high efficiency as compared to ICE forklifts. The surging demand and succeeding electric vehicle and hybrid vehicle production is considered as one of the greatest driver behind the growth of the traction batteries and global traction batteries market entrance. The significant restriction in the global traction batteries market infers to be the hindered with the lead-corrosive batteries and surprising expense of the other traction batteries.

Traction Battery Market: Market Outlook

Saft has been given a contract by CRRC Nanjing Puzhen, at Chinese train manufacture to supply the locally available battery frameworks for the new metro trains being worked for the Changzhou Rail Transit Line 1 venture. The battery frameworks, as per Saft's MSX nickel-innovation cells, will give emergency backup to help critical security, control, and traveler comfort capacities should the primary power supply be interfered. The powerful batteries can as well deliver enough traction capacity to empower the metro train to run out up to 2kms without an outer power supply.

Traction Battery Market

The U.S. traction battery market will see a development owing to the constant need to improve the vehicle sector alongside purchase incentives, government commands, and targets relating to carbon emission and energy proficiency. Europe traction battery market will observe development because of rising popularity of EV sale driven by stringent objectives to diminish the carbon emission contributed by the automobile segment.

Besides, Asia Pacific market is set to observe a development because of supportive policies and rising worries to control the emission levels contributed by the automobile sector will invigorate the traction battery market. In India, government drove activities toward e-mobility and advancement of sufficient charging foundation will make new scope for the key players.

Traction Battery Market: Competitive Landscape

Key players in the global traction battery market are East Penn Manufacturing, Johnson Controls, Exide, Hitachi, Samsung, BYD Company, Panasonic, LG Chem, Mutlu, Systems Sunlight, Enersys, GS Yuasa, Hoppecke Batteries, Amara Raja Batteries, Haze Batteries, Midac, Banner Batterien, NorthStar Battery Company, Coslight Technology International Group, BAE Batterien, Sebang Global, Shoto Group, C&D Technologies, and so on.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?