The market for traction batteries is rapidly growing. A traction battery or electric vehicle battery is a battery that is used to power the battery electric vehicle. Vehicle batteries are rechargeable in nature. Traction battery relates to all the batteries used to power electric vehicles. The rising application of these batteries in different form of vehicles including mobility scooter, a fork-lift truck and many more are driving the global traction batteries market.
The growing market for automotives has largely emphasised on the development of the vehicles that are fast, efficient and safe. Traction batteries have become an important and crucial part of any electric vehicle or hybrid electric vehicles now a days. Traction batteries are used in electric Golf carts, forklifts, and electric motorcycles, riding floor scrubbers, trucks, and vans, full-size electric cars and other electric vehicles
Get a Sample Copy of Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-1003
Traction Batteries : Drivers & Restraints
The increasing demand and succeeding hybrid and electric vehicle production is considered as one of the biggest driver for the increasing demand of the traction batteries and global traction batteries market penetration. The major restraint in the global traction batteries market implies to be the limitation with the lead-acid batteries and high cost of the other traction batteries.
Traction Batteries: Region-wise Outlook
The global traction batteries market is expected to register a favourable growth for the forecast period, 2015?2025. North America is projected to endure its control on the global traction batteries market. The key country in the mentioned region is projected to be United States as an outcome of the increasing demand for electric vehicles. Europe is considered the second largest market for traction batteries behind U.S. and ahead of Japan which also contributes to the global traction batteries market remarkably.
Traction Batteries: Key Players
Some of the key market participants in global traction batteries market are Panasonic, AESC, GE USA, BYD, Mitsubishi/GS Yuasa, Samsung, ACCUmotive GmbH und Co. KG, Bater, Fisker, B.B.Battery, LG Chem, and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
How is Asia Pacific Excluding Japan Contributing to the Growth of the Traction Batteries Market?
Future Market Insights states that Asia Pacific excluding Japan is forecast to exhibit robust growth in the global traction batteries market between 2022 and 2032.
A swift rise in sales of electric vehicles is being witnessed in countries such as China, India, Australia, and South Korea, owing to the surging trend of electrification and increasing government efforts for promoting electric vehicles is propelling the demand for traction batteries.
Hence, leading players in the market are increasingly aiming at launching novel products to capitalize on the existing opportunities. For instance, in 2021, Birla Carbon, an Indian manufacturer of sustainable products announced launching new automotive lead-acid and lithium-ion batteries, Conductex I and Condectex e. Such product launches are estimated to bolster the growth of traction batteries in the Asia Pacific excluding Japan market.
Ask for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-1003
Key Segments Profiled in the Traction Batteries Market Survey
By Product Type:
- Lead Acid
- Nickel Based
- Lithium-Ion
- Nickel Metal Hybrid
- NiCad
- Zebra
By Application:
- Electric Vehicle (EV)
- Heavy Industrial
- Light Industrial and Commercial
- Two Wheeler
- Hybrid Car
- Pure Electric Car
- Mobility for Disabled
- Goal Car
- Military
- Marine
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com