Traction Battery Market by Type (Lead-Acid, Lithium-Ion, Nickel Based, Others), by Capacity (Less than 100 Ah, 100 Ah - 200 Ah, 200 Ah - 300 Ah, 300 Ah - 400 Ah, 400 Ah & above), by Application (Battery Electric Vehicles (BEV), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2024-2032
The size of the Traction Battery Market was valued at USD 56 USD Billion in 2023 and is projected to reach USD 80.92 USD Billion by 2032, with an expected CAGR of 5.4% during the forecast period. A traction battery is a rechargeable battery made for the use of EVs and other machinery that are needed to supply power for long periods with high power density. These batteries are applied in electric forklifts, golf carts, and electric vehicles. The major kinds of traction batteries are Pb-acid, L-ion, and Ni-MH batteries. The three kinds of traction batteries are Pb-acid, L-ion, and Ni-MH batteries. Lead-acid batteries are very cheap and very reliable, lithium-ion batteries are costly but they offer high energy density and long life while nickel-metal hydride batteries offer both reasonable energy density and reasonable cost. Some of the notable characteristics of traction batteries include; high ripple currents, and the ability to operate at various loads for long cycles. Some of them are applied in different fields, including material transportation in Industries, and personal electric transport making a significant contribution to efficiency and sustainability.
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The report provides a comprehensive analysis of the traction battery market, including:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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