Global Traction Batteries Market 2018-2022

The global traction batteries market size will grow by USD 14.82 billion during 2018-2022. This report offers an analysis of the market based on application (transport, lift trucks, and others) and geography (Americas, APAC, and EMEA). The traction batteries market research report further analyzes the market’s competitive landscape and offers information on several companies including Contemporary Amperex Technology, ENERSYS, Exide Technologies, GS Yuasa International, Panasonic, and SAMSUNG SDI.

Below are some of the key findings from the traction batteries market research report:

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Global traction batteries industry overview

The declining cost of Li-ion batteries is one of the primary factors that will drive the traction batteries market during the forecast period. Li-ion batteries are more expensive than lead-acid batteries or NiMH batteries. The manufacturing costs of electric vehicles (EVs) is almost double of conventional vehicles due to the costs associated with the battery. However, with growth in production scale, development of cost-effective production methods, and large-scale adoption by the automotive industry, the cost of Li-ion batteries is reducing significantly. Moreover, ongoing R&D has also improved the performance of Li-ion batteries. This reduces the ownership cost of EVs, thereby boosting the sales of Li-ion powered vehicles. With the growth in the sales of these vehicles, the demand for traction batteries is also expected to rise.

The growing need for environment-friendly vehicles is a major trend that will further stimulate the traction batteries market growth. EVs, golf carts, and other environment-friendly vehicles run on Li-ion batteries with low emissions and are easily charged with renewable energy sources such as photovoltaic (PV) cells. These vehicles reduce the dependency on fossil fuels such as petroleum and diesel. Moreover, they offer advantages such as high efficiency, improved air quality, less noise, and low operating and maintenance costs, compared to internal combustion engine vehicles. These factors have increased the popularity of environment-friendly vehicles among consumers, which will drive the demand for traction batteries for these vehicles. The traction batteries market forecast report predicts the market to grow at a CAGR of almost 14% during the forecast period.

Top traction batteries companies covered in this market research report

The traction batteries market is highly fragmented. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this traction batteries industry analysis report will help clients identify and design new growth strategies.

The report offers a complete analysis of various companies including:

• Contemporary Amperex Technology
• ENERSYS
• Exide Technologies
• GS Yuasa International
• Panasonic
• SAMSUNG SDI

Traction batteries market segmentation based on geographic regions

• Americas
• APAC
• EMEA

Global traction batteries market analysis reveals that the APAC region will dominate the traction batteries market share till the end of the forecast period. However, the Americas is expected to witness the highest incremental growth over the forecast period.

Traction batteries market segmentation based on application

• Transport
• Lift trucks
• Others

The transport segment will account for the largest traction batteries market share during the forecast period. This segment will also account for the highest incremental growth. Additionally, the report also provides an accurate prediction of the contribution of all the various application segments to the growth of the traction batteries market size.

Key highlights of the global traction batteries market for the forecast years 2018-2022:

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the traction batteries market during the next five years
• Precise estimation of the global traction batteries market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the traction batteries industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on the factors that will challenge the growth of traction batteries companies

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