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Global Traction Battery Market Analysis & Opportunity Outlook 2021

Published On : 09:40 AM, 14th September, 2017 REP-ID-110 Category: Energy & Power

Traction batteries are electric devices which are used to power battery operated electric vehicles. These batteries are recyclable and thus, are in great demand from various sectors such as automobile, manufacturing, etc.

The global traction batteries market is projected to reach USD 56 Billion in coming 7-10 years.  Geographically, the global traction batteries market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific and rest of world.

 Market Segmentation

  • By Application

Based on application, the global traction battery market can be segmented into heavy, light and commercial vehicles, hybrid cars, electric cars, etc.

  • By Product

On the basis of products type, the global traction battery market is divided as lead-Acid, NiCad, Lithium ion and others.

Growth Drivers and challenges

Rising popularity of rechargeable hybrid & electric cars and expansion of automotive sector in some of the major countries are two factors which are expected to drive the global traction battery market in future.

However, high cost of traction batteries and limitations on use of lead-acid traction battery are projected to dampen the growth of global traction battery market over the forecast period.

Market Size and Forecast

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. 

Key Players

The global traction battery market is very competitive and includes some of the top players such as Panasonic, GE USA, Mitsubishi/GS Yuasa, ACCUmotive GmbH, Samsung, Bater, B.B.Battery, Fiske, LG Chem, etc.                                                                     

Scope and Context

Overview of the Parent Market

Analyst View

Market Size and Growth

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Rest of Latin America)
  • Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe)
  • Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia)
  • Rest of World

Segmentation

  • By Application
  • By Type
  • By Geography

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

                           Key Answers Captured in Report?

Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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