Market Overview:
The global electric vehicle traction batteries market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electric vehicles across the globe. Additionally, factors such as technological advancements and rising awareness about environment-friendly transportation are also contributing to the growth of this market. The global electric vehicle traction batteries market is segmented on the basis of type, application, and region. On the basis of type, it is divided into open lead acid battery, pure lead battery, gel battery, and lithium-ion battery. The lithium-ion battery segment is expected to grow at a highest CAGR during the forecast period owing to its high energy density and long life cycle. On the basis of application, it is classified into electric car, electric trucking bus).
Product Definition:
Electric Vehicle Traction Batteries are used to power electric vehicles. They store energy from the vehicle's electric motor and release it as needed to power the wheels. This allows the vehicle to move without using a traditional gas or diesel engine. Electric Vehicle Traction Batteries are important because they help reduce emissions and save on fuel costs.
Open Lead Acid Battery:
Open lead acid batteries are used in traction batteries for electric vehicles. They offer higher energy density, low maintenance and they provide safety against overheating, overcharging and undercharging.
Open lead-acid battery consists of two electrodes (positive & negative), an electrolyte solution that provides ionic mobility to the positive & negative electrode along with a separator that keeps the ions apart.
Pure Lead Battery:
Pure lead battery is a type of lead-acid battery that contains no alloying elements such as antimony, tin, or other metals. These batteries are considered to be the most common ones used in traction batteries and electric vehicles. They provide high power density at low weight and cost which makes them ideal for applications where weight is an important factor.
Application Insights:
The electric car segment dominated the global EV traction batteries market in 2017 and is expected to maintain its dominance over the forecast period. The increasing number of production facilities for electric cars has resulted in high demand for EV traction batteries across the globe. Countries, such as China, Japan and Germany are leading producers of EVs which have increased demand from countries where these vehicles are sold.
The growing trend of using hybrid or full-electric buses has increased their efficiency by 30% to 40%. This increase in efficiency reduces greenhouse gas emissions by around 20%, which helps reduce global warming concerns. Hybrid bus manufacturers focus on improving passenger safety while traveling along with reduced energy consumption through improved vehicle dynamics and aerodynamics that improve fuel economy without compromising with regards to passenger comfort or safety; this factor is anticipated to drive the growth of this segment over the forecast period.
Regional Analysis:
The Asia Pacific regional market is anticipated to witness significant growth over the forecast period owing to increasing demand for electric vehicles in countries, such as China and India. The growing adoption of EVs is a result of rising government initiatives, which are encouraging manufacturers to develop and commercialize EVs. For instance, in September 2016, the Government of India announced “Electrification Missionâ€- an initiative aimed at increasing the share of electric vehicles on roads from 0% in 2014 to 30% by 2020.
In addition, various state governments have implemented their own policies that include tax benefits or exemptions for EV owners charging stations located within their jurisdiction. In December 2015; California Department Of Transportation (Caltrans) launched a program called “Zero Emission Vehicle Deployment Program†with an aim towards deploying 100 thousand zero emission capable trucks by 2025 throughout the state.
Growth Factors:
- Increasing demand for electric vehicles: The global electric vehicle market is expected to grow at a CAGR of more than 28% from 2016 to 2020, according to MarketsandMarkets. This growth is primarily attributed to the increasing demand for environment-friendly and low-emission vehicles.
- Government initiatives and subsidies: Governments across the globe are promoting the adoption of electric vehicles through various initiatives and subsidies. For instance, in China, the government offers a subsidy of up to ,000 per vehicle. Such government initiatives are expected to drive the growth of the electric vehicle traction batteries market during the forecast period.
- Development of advanced technologies: The development of advanced technologies such as lithium-ion (Li-ion) batteries is aiding in the growth oftheelectricvehicle traction batteries market . These technologies offer high energy density and longer life cycles as comparedto other battery chemistries available inthe market .This isexpectedtoresultin higher adoptionofelectricvehiclesand consequently boostthegrowthoftheelectricvehicle tractionbatteriesmarketduring therecordperiod .
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Vehicle Traction Batteries Market Research Report
By Type
Open Lead Acid Battery, Pure Lead Battery, Gel Battery, Lithium-Ion Battery
By Application
Electric Car, Electric Truck, Electric Bus
By Companies
LG Chem, BYD, GS Yuasa, Panasonic, Gotion, Clarios, Enersys, Exide Industries Limited, CSICP, Lishen, East Penn Manufacturing, Contemporary Amperex Technology Limited (CATL)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Electric Vehicle Traction Batteries Market Report Segments:
The global Electric Vehicle Traction Batteries market is segmented on the basis of:
Types
Open Lead Acid Battery, Pure Lead Battery, Gel Battery, Lithium-Ion Battery
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Electric Car, Electric Truck, Electric Bus
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- LG Chem
- BYD
- GS Yuasa
- Panasonic
- Gotion
- Clarios
- Enersys
- Exide Industries Limited
- CSICP
- Lishen
- East Penn Manufacturing
- Contemporary Amperex Technology Limited (CATL)
Highlights of The Electric Vehicle Traction Batteries Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Open Lead Acid Battery
- Pure Lead Battery
- Gel Battery
- Lithium-Ion Battery
- By Application:
- Electric Car
- Electric Truck
- Electric Bus
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Vehicle Traction Batteries Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electric vehicle traction batteries are a type of battery that stores energy from an electric motor. They provide power to the electric motor when the car is moving and can also be used to store energy when the car is not moving.
Some of the major players in the electric vehicle traction batteries market are LG Chem, BYD, GS Yuasa, Panasonic, Gotion, Clarios, Enersys, Exide Industries Limited, CSICP, Lishen, East Penn Manufacturing, Contemporary Amperex Technology Limited (CATL).
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Electric Vehicle Traction Batteries Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Electric Vehicle Traction Batteries Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electric Vehicle Traction Batteries Market - Supply Chain
4.5. Global Electric Vehicle Traction Batteries Market Forecast
4.5.1. Electric Vehicle Traction Batteries Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electric Vehicle Traction Batteries Market Size (000 Units) and Y-o-Y Growth
4.5.3. Electric Vehicle Traction Batteries Market Absolute $ Opportunity
5. Global Electric Vehicle Traction Batteries Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Electric Vehicle Traction Batteries Market Size and Volume Forecast by Type
5.3.1. Open Lead Acid Battery
5.3.2. Pure Lead Battery
5.3.3. Gel Battery
5.3.4. Lithium-Ion Battery
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Electric Vehicle Traction Batteries Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Electric Vehicle Traction Batteries Market Size and Volume Forecast by Application
6.3.1. Electric Car
6.3.2. Electric Truck
6.3.3. Electric Bus
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Electric Vehicle Traction Batteries Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Electric Vehicle Traction Batteries Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Electric Vehicle Traction Batteries Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Electric Vehicle Traction Batteries Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Electric Vehicle Traction Batteries Demand Share Forecast, 2019-2026
9. North America Electric Vehicle Traction Batteries Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Electric Vehicle Traction Batteries Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Electric Vehicle Traction Batteries Market Size and Volume Forecast by Application
9.4.1. Electric Car
9.4.2. Electric Truck
9.4.3. Electric Bus
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Electric Vehicle Traction Batteries Market Size and Volume Forecast by Type
9.7.1. Open Lead Acid Battery
9.7.2. Pure Lead Battery
9.7.3. Gel Battery
9.7.4. Lithium-Ion Battery
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Electric Vehicle Traction Batteries Demand Share Forecast, 2019-2026
10. Latin America Electric Vehicle Traction Batteries Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Electric Vehicle Traction Batteries Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Electric Vehicle Traction Batteries Market Size and Volume Forecast by Application
10.4.1. Electric Car
10.4.2. Electric Truck
10.4.3. Electric Bus
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Electric Vehicle Traction Batteries Market Size and Volume Forecast by Type
10.7.1. Open Lead Acid Battery
10.7.2. Pure Lead Battery
10.7.3. Gel Battery
10.7.4. Lithium-Ion Battery
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Electric Vehicle Traction Batteries Demand Share Forecast, 2019-2026
11. Europe Electric Vehicle Traction Batteries Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Electric Vehicle Traction Batteries Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Electric Vehicle Traction Batteries Market Size and Volume Forecast by Application
11.4.1. Electric Car
11.4.2. Electric Truck
11.4.3. Electric Bus
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Electric Vehicle Traction Batteries Market Size and Volume Forecast by Type
11.7.1. Open Lead Acid Battery
117.2. Pure Lead Battery
11.7.3. Gel Battery
11.7.4. Lithium-Ion Battery
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Electric Vehicle Traction Batteries Demand Share, 2019-2026
12. Asia Pacific Electric Vehicle Traction Batteries Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Electric Vehicle Traction Batteries Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Electric Vehicle Traction Batteries Market Size and Volume Forecast by Application
12.4.1. Electric Car
12.4.2. Electric Truck
12.4.3. Electric Bus
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Electric Vehicle Traction Batteries Market Size and Volume Forecast by Type
12.7.1. Open Lead Acid Battery
12.7.2. Pure Lead Battery
12.7.3. Gel Battery
12.7.4. Lithium-Ion Battery
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Electric Vehicle Traction Batteries Demand Share, 2019-2026
13. Middle East & Africa Electric Vehicle Traction Batteries Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Electric Vehicle Traction Batteries Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Electric Vehicle Traction Batteries Market Size and Volume Forecast by Application
13.4.1. Electric Car
13.4.2. Electric Truck
13.4.3. Electric Bus
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Electric Vehicle Traction Batteries Market Size and Volume Forecast by Type
13.7.1. Open Lead Acid Battery
13.7.2. Pure Lead Battery
13.7.3. Gel Battery
13.7.4. Lithium-Ion Battery
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Electric Vehicle Traction Batteries Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Electric Vehicle Traction Batteries Market: Market Share Analysis
14.2. Electric Vehicle Traction Batteries Distributors and Customers
14.3. Electric Vehicle Traction Batteries Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. LG Chem
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. BYD
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. GS Yuasa
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Panasonic
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Gotion
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Clarios
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Enersys
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Exide Industries Limited
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. CSICP
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Lishen
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. East Penn Manufacturing
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Contemporary Amperex Technology Limited (CATL)
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
