Portland, OR, Nov. 11, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global traction battery market was estimated at $31.6 billion in 2020 and is expected to hit $69.2 billion by 2030, registering a CAGR of 8.2% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Escalating demand for electric vehicles and attractive government policies & tax incentives drive the growth of the global traction battery market. On the other hand, inadequate charging infrastructure impedes the growth to some extent. However, enhanced battery capacity is anticipated to create lucrative opportunities in the industry.
Download Report Sample (230 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/14299
COVID-19 scenario-
- The traction battery market had been negatively impacted due to the wake of the COVID-19 pandemic, due to its dependence on transportation, industrial manufacturing, and other sectors.
- Several companies had either shut down or minimized their operations owing to the risk of infections among the workforce, which, in turn, slowed the production rates of traction batteries, especially during the initial phase.
- Nevertheless, the market is projected to get back on track soon.
The global traction battery market is analyzed across product type, capacity, application, and region. Based on product type, the lead acid based segment accounted for the major share in 2020, holding nearly two-fifths of the global market. The lithium-ion based segment, however, would exhibit the fastest CAGR of 9.5% throughout the forecast period.
Get detailed COVID-19 impact analysis on the Traction Battery Market Request Here
Based on application, the electrical vehicle segment generated the highest share in 2020, accounting for more than two-fifths the global market. The battery electrical vehicles segment, however, would exhibit the fastest CAGR of 8.8% from 2021 to 2030.
Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering more than half of the global market. The same region would also cite the fastest CAGR of 8.9% by the end of 2030. The other provinces studied in the report include Europe, North America, and LAMEA.
Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/14299
The key market players analyzed in the global traction battery market report include ECOVOLTA, GS Yuasa International Ltd., Banner Batteries (GB) Ltd., BAE Batteries GmbH, Exide Industries Ltd., Toshiba Corporation, Inci GS Yuasa, INTILION GmbH, Leoch International Technology Limited Inc., HOPPECKE Carl Zoellner & Sohn GmbH. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Similar Reports:
(Pre-Book Now with 10% Discount)
Battery Technology Market: Global Opportunity Analysis and Industry Forecast, 2021–2030
Secondary Battery Market: Global Opportunity Analysis and Industry Forecast, 2021–2030
Electric Battery Market: Global Opportunity Analysis and Industry Forecast, 2021–2030
Proton Battery Market: Global Opportunity Analysis and Industry Forecast, 2019-2026
Thermal Batteries Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Sodium Ion Battery Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Disposable Batteries Market: Global Opportunity Analysis and Industry Forecast, 2021–2030
Stretchable Battery Market: Global Opportunity Analysis and Industry Forecast, 2021–2030
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow us on | Facebook | Twitter | LinkedIn
