Market Overview:
The global traction battery market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The market is segmented by type, application, and region. The type segment is further divided into open lead acid battery, pure lead battery, gel battery, and lithium-ion battery. Lithium-ion batteries are the most commonly used type in the market with a share of about 65%. They are followed by lead acid batteries which have a share of about 30%. By application, recreational vehicles account for the majority of the traction battery market with a share of 78%.
Product Definition:
A traction battery is a battery used to provide power to the wheels of a vehicle, thus providing traction or torque. Traction batteries are usually lead-acid batteries, although nickel-cadmium and nickel-metal-hydride batteries are also used.
Open Lead Acid Battery:
Open lead acid batteries are used in traction battery systems for electric vehicles. They are also used as backup power sources in case of power failure. The growing demand for Electric Vehicles (EVs) is expected to be a major driver for the growth of this market over the forecast period. Open lead-acid batteries find their application across several end-use industries such as automotive, telecom, construction and electronics owing to properties such as high energy density and low maintenance cost among others.
Pure Lead Battery:
Pure lead battery is a type of secondary battery that contains only lead and no other metal or compound. The purest form of the product consists of 100% lead. Other types of batteries may have additives such as antimony, calcium, manganese, zinc and copper to improve the overall performance but in comparison with pure Lead Acid Battery; PPLA has better shelf life & cycle number along with higher energy density than any other battery available in market today.
Application Insights:
The industrial vehicles segment is expected to emerge as the fastest-growing application, with a CAGR of XX% from 2018 to 2030. Industrial and commercial vehicles require heavy-duty batteries for their electric motors owing to the long distances covered in a single charge. Open lead acid batteries are used in such applications as they provide high power density, long life span, and high rate of discharge without exceeding voltage limits set by regulators., Traction battery is widely used across various industrial applications including material handling equipment, agricultural machinery & tools, construction & mining equipment and marine vessels., The recreational vehicle ( RV) segment accounted for market share of about 78% in 2018. Recreational vehicles are equipped with standard 12Volt electrical systems that require only small batteries for starting or ignition purposes., Gel traction battery provides higher energy density than conventional lead acid type which makes it suitable for use in RVs.
Regional Analysis:
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. The region’s growth can be attributed to increasing demand for electric vehicles in countries, such as China and India. In addition, rising disposable income of consumers and improving standards of living are expected to drive product demand further in this region. Europe is also likely to witness significant traction owing to stringent government regulations regarding carbon emissions from vehicles coupled with growing emphasis on reducing dependency on foreign oil for transportation purposes.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 14% during the forecast period. This will lead to an increase in the demand for traction batteries.
- Development of advanced battery technologies: The development of advanced battery technologies such as lithium-ion and nickel-metal hydride is expected to drive the growth of the traction battery market. These batteries offer high performance and are less prone to damage caused by overcharging or short circuits.
- Growing investment in renewable energy sources: Governments and private investors are increasingly investing in renewable energy sources such as solar and wind power, which require large amounts of storage capacity in the form of traction batteries. This will boost the growth of the traction battery market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Traction Battery Market Research Report
By Type
Open Lead Acid Battery, Pure Lead Battery, Gel Battery, Lithium-Ion Battery, By type, lithium-ion battery is the most commonly used type, with about 65% market share in 2018., Traction Batter
By Application
Industrial Vehicles, Recreational Vehicles, By application, recreational vehicles is the larger segment, with market share of about 78% in 2018.
By Companies
Panasonic, Contemporary Amperex Technology Limited (CATL), LG Chem, BYD, GS Yuasa, Gotion, Inc., CSICP, Lishen, East Penn Manufacturing, Clarios, Enersys, Traction Batter
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
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Traction Battery Market Report Segments:
The global Traction Battery market is segmented on the basis of:
Types
Open Lead Acid Battery, Pure Lead Battery, Gel Battery, Lithium-Ion Battery, By type, lithium-ion battery is the most commonly used type, with about 65% market share in 2018., Traction Batter
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
Industrial Vehicles, Recreational Vehicles, By application, recreational vehicles is the larger segment, with market share of about 78% in 2018.
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:
- Panasonic
- Contemporary Amperex Technology Limited (CATL)
- LG Chem
- BYD
- GS Yuasa
- Gotion, Inc.
- CSICP
- Lishen
- East Penn Manufacturing
- Clarios
- Enersys
- Traction Batter
Highlights of The Traction Battery 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 type, lithium-ion battery is the most commonly used type, with about 65% market share in 2018.
- Traction Batter
- By Application:
- Industrial Vehicles
- Recreational Vehicles
- By application, recreational vehicles is the larger segment, with market share of about 78% in 2018.
- 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 Traction Battery 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?
A traction battery is a type of rechargeable battery that is used to power electric vehicles. It stores energy by converting chemical energy into electrical energy.
Some of the key players operating in the traction battery market are Panasonic, Contemporary Amperex Technology Limited (CATL), LG Chem, BYD, GS Yuasa, Gotion, Inc., CSICP, Lishen, East Penn Manufacturing, Clarios, Enersys, Traction Batter.
The traction battery market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Traction Battery 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. Traction Battery Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Traction Battery Market - Supply Chain
4.5. Global Traction Battery Market Forecast
4.5.1. Traction Battery Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Traction Battery Market Size (000 Units) and Y-o-Y Growth
4.5.3. Traction Battery Market Absolute $ Opportunity
5. Global Traction Battery 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. Traction Battery 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
5.3.5. By type, lithium-ion battery is the most commonly used type, with about 65% market share in 2018.
5.3.6. Traction Batter
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Traction Battery 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. Traction Battery Market Size and Volume Forecast by Application
6.3.1. Industrial Vehicles
6.3.2. Recreational Vehicles
6.3.3. By application, recreational vehicles is the larger segment, with market share of about 78% in 2018.
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Traction Battery 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. Traction Battery 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 Traction Battery 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. Traction Battery 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 Traction Battery Demand Share Forecast, 2019-2026
9. North America Traction Battery 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 Traction Battery 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 Traction Battery Market Size and Volume Forecast by Application
9.4.1. Industrial Vehicles
9.4.2. Recreational Vehicles
9.4.3. By application, recreational vehicles is the larger segment, with market share of about 78% in 2018.
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Traction Battery 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
9.7.5. By type, lithium-ion battery is the most commonly used type, with about 65% market share in 2018.
9.7.6. Traction Batter
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 Traction Battery Demand Share Forecast, 2019-2026
10. Latin America Traction Battery 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 Traction Battery 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 Traction Battery Market Size and Volume Forecast by Application
10.4.1. Industrial Vehicles
10.4.2. Recreational Vehicles
10.4.3. By application, recreational vehicles is the larger segment, with market share of about 78% in 2018.
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Traction Battery 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
10.7.5. By type, lithium-ion battery is the most commonly used type, with about 65% market share in 2018.
10.7.6. Traction Batter
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 Traction Battery Demand Share Forecast, 2019-2026
11. Europe Traction Battery 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 Traction Battery 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 Traction Battery Market Size and Volume Forecast by Application
11.4.1. Industrial Vehicles
11.4.2. Recreational Vehicles
11.4.3. By application, recreational vehicles is the larger segment, with market share of about 78% in 2018.
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Traction Battery Market Size and Volume Forecast by Type
11.7.1. Open Lead Acid Battery
11.7.2. Pure Lead Battery
11.7.3. Gel Battery
11.7.4. Lithium-Ion Battery
11.7.5. By type, lithium-ion battery is the most commonly used type, with about 65% market share in 2018.
11.7.6. Traction Batter
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 Traction Battery Demand Share, 2019-2026
12. Asia Pacific Traction Battery 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 Traction Battery 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 Traction Battery Market Size and Volume Forecast by Application
12.4.1. Industrial Vehicles
12.4.2. Recreational Vehicles
12.4.3. By application, recreational vehicles is the larger segment, with market share of about 78% in 2018.
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Traction Battery 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
12.7.5. By type, lithium-ion battery is the most commonly used type, with about 65% market share in 2018.
12.7.6. Traction Batter
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 Traction Battery Demand Share, 2019-2026
13. Middle East & Africa Traction Battery 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 Traction Battery 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 Traction Battery Market Size and Volume Forecast by Application
13.4.1. Industrial Vehicles
13.4.2. Recreational Vehicles
13.4.3. By application, recreational vehicles is the larger segment, with market share of about 78% in 2018.
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Traction Battery 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
13.7.5. By type, lithium-ion battery is the most commonly used type, with about 65% market share in 2018.
13.7.6. Traction Batter
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 Traction Battery Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Traction Battery Market: Market Share Analysis
14.2. Traction Battery Distributors and Customers
14.3. Traction Battery Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Panasonic
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Contemporary Amperex Technology Limited (CATL)
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. LG Chem
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. BYD
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. GS Yuasa
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Gotion, Inc.
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. CSICP
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Lishen
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. East Penn Manufacturing
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Clarios
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Enersys
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Traction Batter
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
