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

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

Status : September, 2020 | Energy & Mining | PPT format

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 study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.