Learn about the global traction battery market through The Business Research Company, which provides information on traction battery market size, traction battery market drivers and restraints, traction battery market players, the COVID-19 impact on the traction battery market, and more.

The global traction battery market size is expected to grow from $27.61 billion in 2021 to $31.88 billion in 2022 at a compound annual growth rate (CAGR) of 15.5%. The global traction batteries market size is expected to grow to $52.29 billion in 2026 at a CAGR of 13.2%.

The rising demand for electric vehicles is expected to fuel the growth of the traction battery market going forward.

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The traction battery market consists of sales of traction batteries by entities (organizations, sole traders, and partnerships) that is a type of rechargeable battery used to power the electric motor in a hybrid electric vehicle or battery electric vehicle. The traction battery is an assembly of accumulators that consists of the storage of energy used to power the traction motor. The design of a traction battery standard is crucial for ensuring extended and trouble-free service life.

Global Traction Battery Market Segments Include:

By Product Type: Lead Acid Based, Li-Ion Based, Nickel Based, Others

By Capacity: Less than 100 Ah, 100-200 Ah, 200-300 Ah, 300-400 Ah, 400 Ah and Above

By Application: Electrical Vehicle (EV), Hybrid Electric Vehicles (HEV), Industrial, Forklift, Mechanical Handling Equipment, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the traction battery market in 2021.

The growing technological advancements are a key trend gaining popularity in the traction battery market. Major companies operating in the traction battery sector are focused on developing new technological solutions to provide cost-effective batteries and strengthen their position.

TBRC’s traction battery market report covers:

Major Market Players: Amara Raja Batteries, BAE Batterien GmbH, Banner Batterien, BYD Company, Coslight Technology International Group Co. Ltd., East Penn Manufacturing Company, Enersys, Exide Industries Limited, GS Yuasa International Ltd., HOPPECKE Carl Zoellner & Sohn GmbH, Mutlu Incorporated, Sunlight, C&D Technologies Inc., Chaowei Power Holdings Limited, Leoch International Technology Limited Inc., and Sebang Global.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Traction Battery Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides traction battery market overviews, analyzes and forecasts market size, share, traction battery market players, traction battery market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s traction battery market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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