The Traction Battery market was valued at USD 1.5 Bn in 2021. The market is projected to grow USD 2.6 Bn in 2028, at a CAGR of 13.6%. A Traction Battery is a type of electric car battery with a large ampere-hour capacity. Forklift trucks, locomotives, and mechanical handling equipment are all examples of Applications for lead acid traction batteries.
Over the forecast period of the Traction Battery market (2022-2028), the "Global Traction Battery Market" classifies the industry by regions, growth, product categories, and applications. It examines every important aspect of the worldwide Traction Battery market, including product specifications, constraints, problems, and growth possibilities. Company profiles of important market leaders, including Traction Battery investment forecasts, current technology trends, and future projections. The full understanding of the Traction Battery market on a global scale, based on present and future size (revenue), and Traction Battery market prediction plotted in the form of a list of graphs and tables, pie-charts to assist aspirants and leading Traction Battery market participants in making important and progressive decisions.
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COVID-19 ANALYSIS
The outbreak of COVID-19 impacted negatively on the growth of the global Traction Battery market. reliance on the automotive, railways, and industrial sectors, the Traction Battery business has been badly impacted by the COVID-19 pandemic. According to a data released by the International Energy Agency, global road transport activity was about 50% lower by the end of March 2020 than it was in March 2019.
Crucial Industry Players included in this report are:
· BAE Batteries GmbH
· Banner Batteries (GB) Ltd.
· ECOVOLTA
· Exide Industries Ltd.
· GS Yuasa International Ltd.
· HOPPECKE Carl Zoellner & Sohn GmbH
· Inci Aku
· INTILION GmbH
· Leoch International Technology Limited Inc
· Toshiba Corporation
· Others
Product Types can be classified into:
Lead Acid Based
Nickel Based
Lithium-Ion Based
Others
Key Applications covered in this report are:
Electric Vehicle
Industrial
Locomotives
LATEST TREND
Rising Demand of Autonomous Vehicles
The growing demand for hybrid cars has a beneficial impact on the market's growth. It's worth noting that traction batteries are both recyclable and environmentally friendly, and are therefore in high demand in the automotive and manufacturing industries. They're also necessary for the electrification of transportation systems. They also get a lot of help from the government. The reason for this is that attempts are being made to reduce fuel emissions. The market will only grow as more individuals become aware of the harmful impacts of these contaminants.
The research concentrates on the Traction Battery market in North America (the United States, Canada, and Mexico), Traction Battery industry in Europe (Germany, France, the United Kingdom, Russia, and Italy), Asia-Pacific (Southeast Asia, China, Korea, India, and Japan), Traction Battery market in South America (Brazil, Argentina, and Colombia), and the Middle East and Africa (the Middle East and Africa) (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). The Traction Battery research report also performs SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis with XX CAGR values and XX USD in the past(2014-2018) and Traction Battery forecast(2022-2028) on the basis of growth and market conditions based on the size of the Traction Battery market.
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Later in the report, several categories are presented based on the Traction Battery product category, different uses of the product, and important revenue regions that contribute significantly to the Traction Battery market share. The research explores new growth prospects through an in-depth evaluation of the Traction Battery market's evolution and data analysis that takes into consideration every area of the Traction Battery market. The global Traction Battery industry translates the fundamental components of the leading market players' business profiles, Traction Battery market sales, press releases, and market development.
