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Traction Battery Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company's Traction Battery Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, August 31, 2022 /EINPresswire.com / -- As per The Business Research Company's 'Traction Battery Global Market Report 2022”, the traction battery market 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 growth in the traction battery market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. As per TBRC's traction battery market research the market is expected to reach $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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Key Trends In The Traction Battery Market
Growing technological advancements are shaping 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.
Overview Of The Traction Battery Market
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.
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Traction Battery Global Market Report 2022 from TBRC covers the following information:
Market Size Data
•Forecast period: Historical and Future
•By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
•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 Vehicle (HEV), Industrial, Forklift, Mechanical Handling Equipment, Others
•By Geography: The global traction battery market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as 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.
Trends, opportunities, strategies and so much more.
Traction Battery Global Market Report 2022 is one of The Business Research Company's comprehensive reports that provides an overview of traction battery global market. The market report gives traction battery global market analysis, traction battery global market size, traction battery global market growth drivers, traction battery global market segments, traction battery global market major players, traction battery global market growth across geographies, traction battery industry trends and traction battery global market competitors' revenues and market positioning. The traction battery global market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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