Traction Battery Market Report

Traction Battery Market Insights

Traction battery market is likely to witness an impressive CAGR of 9.7% during the forecast period. The prime factor contributing to the demand for traction batteries is the increasing adoption of electric vehicles, especially in the industrial and transportation sectors.

Market Share Analysis

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Traction Battery Market Share: By Chemistry Type

Based on the chemistry type, the market is segmented as lead acid, Li-ion, nickel-based, and others. The lead acid segment is estimated to maintain its dominance over the forecast period, owing to its robustness and economic pricing.

Traction Battery Market Share: By Application Type

Based on the application type, the market is segmented as electric vehicle, industrial, and e-bike. The electric vehicle segment is expected to govern the market during the forecast period, driven by favorable government initiatives and growing concern for unpolluted and clean environment.

Traction Battery Market Share: By Region

In terms of regions, North America is estimated to be the largest market for traction batteries. The North American market is expected to grow with a lucrative CAGR during the forecast period. The growth of the market can be attributed to favorable government policies with regard to purchase incentives coupled with mandating energy efficiency and carbon emission protocols.

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Some of the major players in the traction battery market are-

• Haze Batteries Europe Ltd.
• Banner Batterien
• Midac S.P.A.
• BAE Batterien GmbH
• Amara Raja
• Chaowei Power Holdings Limited
• First National Battery
• Accumulatorenwerke HOPPECKE Carl Zoellner& Sohn GmbH
• Coslight Technology International Group.

Market Scope & Segmentation

Traction battery is also known as electric-vehicle battery. These batteries are used to power the electric motors of a battery-electric vehicle. Traction batteries are usually rechargeable and are intentionally designed for a high ampere-hour capacity.

The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The traction battery market is segmented into the following categories. 

Traction Battery Market Size, Share, & Forecast, by Chemistry Type:

• Lead Acid  (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Li-ion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Nickel Based  (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Traction Battery Market Size, Share, & Forecast, by Application Type:

• Electric Vehicle
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle)
• Industrial
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: Forklift, Railroad, and Others)
• e-Bike
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: e-Scooter and e-Motorcycle)

Traction Battery Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the application types by chemistry type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.