Traction Battery Market Overview:

The Traction Battery market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Traction Battery Market, as well as the reasons for variations in the industry's growth between regions.

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Market Scope:

Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.

The market for traction batteries was assessed at US$34.19 billion in 2021. Over the forecast period, the size of the global traction battery market is anticipated to increase at a CAGR of 8.2%.

Segmentation:

The market is divided into Lead acid-based, Nickel-based, Lithium-ion-based, and Other categories depending on product type. The lead-acid battery-based category, which accounts for the majority of sales, is anticipated to expand at a CAGR of 7.2% over the projected period. A longer life cycle, a lower price, and superior vibration resistance are a few key characteristics that will help these batteries become more popular globally. The industry is expected to flourish due to the quick cost savings and good charging efficiency. Lead-acid traction batteries are frequently used in road vehicles, locomotives, commercial forklifts, scrubber dryers, and other equipment. The expanding global population is boosting the growth of the automotive and transportation industries.

The global traction market is divided into five categories based on capacity: less than 100Ah, 100-200Ah, 200-300Ah, 300-400Ah, and 400Ah and above. The largest revenue contributor is the sub-100Ah sector, which is anticipated to expand at a CAGR of 8.5% throughout the projection period. The market is expected to increase as a result of the rising demand for hybrid-electric propulsion devices in small companies where traction batteries with capacities under 100Ah are frequently employed to power small industrial mechanical systems. It is also ideal for usage as a supplementary rechargeable battery in non-plug-in hybrid automobiles like the Honda Civic Hybrid due to aspects like extended life and maximum charge cycle. The market for traction batteries with capacities under 100Ah may develop as a result of this.

Key Players:

Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.

. The biggest players in the Traction Battery market are as follows:

• BAE Batteries GmbH
• Banner Batteries Ltd.
• ECOVOLTA
• Exide Industries Ltd
• GS Yuasa International Ltd
• LG Chem
• Inci Aku
• INTILION GmbH
• Leoch International Technology Limited Inc
• Toshiba Corporation
• Samsung
• Hitachi
• BYD Company
• Exide

Regional Analysis:

Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Traction Battery market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.

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COVID-19 Impact Analysis on Traction Battery Market:

Due to a break in operations, end-user sectors where Traction Battery are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Traction Battery manufacturers, impacting the growth of the Traction Battery market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Traction Battery.

Key Questions Answered in the Traction Battery Market Report are:

• In 2021, which segment owned the greatest share of the Traction Battery market?
• What is the competitive landscape of the Traction Battery market?
• What are the key factors influencing Traction Battery market growth?
• In the Traction Battery market, which region has the most market share?
• What will be the CAGR of the Traction Battery market over the forecast period (2022-2027)?

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