Research Nester has recently announced its latest research on “Traction Battery Market : Global Demand Analysis & Opportunity Outlook 2023”, after studying the market situation and anticipating the future trends, the research provides a concrete platform for the existing and new players looking to enter into the market. The study provides information about market scenario of forecast period by analyzing the current situation.
Regionally, North America dominated the global traction battery market in 2015 followed by Europe. The U.S. is the largest traction battery market in North America followed by Canada.
Europe holds the second largest traction battery market behind North America but expected that the region may be surpassed by Asia-Pacific in next five years of time. The traction battery market in the region is propelled by inclination of major auto-players towards manufacturing hybrid and electric power vehicles. The market is also sparked by upsurge of automobile sector in some of the major European countries such as the U.K., Germany, Italy, Spain and France.
Asia-Pacific traction battery market is likely to get fuelled from strengthening of economy and rising foreign investments in automobile sector of some of the major countries such as India, China and Japan.
To know more about this research, kindly visit http://www.researchnester.com/reports/global-traction-battery-market-analysis-opportunity-outlook-2021/110