Traction Battery Market was valued at US$ 36.98 Bn. in 2022. The Global Traction Battery Market size is estimated to grow at a CAGR of 8.2% over the forecast period.
Traction Battery Market Overview:
The purpose of this study is to provide a thorough examination of the Traction Battery market by component, application, industry, and geography. The study goes into great detail on the primary factors influencing the Traction Battery market's growth. The study also offers a comprehensive analysis of the market's value chain.

Market Scope:

The research method used to assess and anticipate the Traction Battery market begins with secondary research using sources that collect revenue data from key suppliers. When calculating market segmentation, the vendor offerings are also considered. Using the bottom-up method, the whole size of the Traction Battery market was calculated using the revenue of significant enterprises.

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Drivers:

The traction battery market is expected to grow during the forecast period due to the large-scale deployment of traction batteries in electric and hybrid vehicles. They are in high demand in the automotive and manufacturing industries leading to global demand for traction batteries. In addition, the traction battery is recyclable and environmentally friendly. It is expected that the growth of the electric vehicle is due to the transportation electrification and rising investment which will increase demand during the forecast period.

Segmentation:

by Product Type

Lead acid-based
Nickel-based
Lithium-ion-based
Others

by Application

Electrical vehicle
Industrial
Locomotives
Others

by Capacity

less than 100Ah
100-200Ah
200-300Ah
300-400Ah
400Ah & above

Key Players:

The major players covered in the Traction Battery market report are

1. BAE Batteries GmbH
2. Banner Batteries Ltd.
3. ECOVOLTA
4. Exide Industries Ltd
5. GS Yuasa International Ltd
6. LG Chem
7. Inci Aku
8. INTILION GmbH
9. Leoch International Technology Limited Inc
10. Toshiba Corporation
11. Samsung
12. Hitachi
13. BYD Company
14. Exide

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Regional Analysis:

Global, North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.

COVID-19 Impact Analysis on Traction Battery Market:

Aerospace and defence, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among other industries, have all been affected by the COVID-19 epidemic. COVID-19 has had an impact on the Traction Battery market in general, as well as the growth rate in 2019-2020, as the impact of COVID-19 spreads. Our most recent inquiry, opinions, and bits of knowledge on administration are critical to the businesses and associations in the Traction Battery industry, which is driving through the COVID-19 emergency to handle risk digitising jobs in order to convey trusted data and experiences to the CEOs.

Key Questions Answered in the Traction Battery Market Report are:

Which segment grabbed the largest share in the Traction Battery market?
How was the competitive scenario of the Traction Battery market in 2020?
Which are the key factors responsible for the Traction Battery market growth?
Which region held the maximum share in the Traction Battery market in 2020?