Traction Battery Market - Forecast(2023 - 2028)

Report Code: EPR 0084 Report Format: PDF + Excel

Traction Battery Market Overview:

The global Traction Battery Market size was valued at USD 1.8 billion in 2020, and it is expected to reach USD 2.8 billion by 2023, growing at a compound annual growth rate (CAGR) of 4.2% % from 2023 to 2030.

Traction batteries, also known as electric vehicle (EV) batteries or motive batteries, are rechargeable energy storage devices used to power electric vehicles, including electric cars, buses, trucks, and industrial vehicles like forklifts. These batteries are a critical component of electric transportation systems, providing the necessary energy for propulsion.

Ongoing research and development efforts have led to continuous improvements in traction battery technology. Advancements in battery chemistry, energy density, and charging infrastructure have resulted in longer driving ranges, faster charging times, and enhanced overall performance of electric vehicles. 

Lithium-ion batteries are the most widely used technology in the traction battery market. They offer a favorable combination of high energy density, long life, and relatively lower self-discharge rates compared to other battery types. However, there is ongoing research to develop alternative battery technologies that may offer even better performance.

Many governments around the world are promoting the adoption of electric vehicles through various incentives and policies, such as subsidies, tax breaks, and emissions regulations. These initiatives aim to accelerate the transition to cleaner and more sustainable transportation.

Market Snapshot: 

Traction Battery Market- Report Coverage:
The “Traction Battery Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the market.

AttributeSegment


By Product Type

  • Lead Acid Based

  • Nickel Based

  • Lithium-Ion Based




By Capacity

  • Less than 100 Ah

  • 100-200 Ah

  • 200-300 Ah

  • 300-400 Ah

  • 400 Ah & above



By Application

  • Electric Vehicle (EV),

  • Industrial

  • Locomotives


Traction Battery Market- Top Trends:

Advancements in Battery Technology: Continuous research and development efforts were leading to significant advancements in battery technology, particularly in the field of lithium-ion batteries. Improvements in energy density, charging speed, and overall battery performance were driving the adoption of electric vehicles and influencing the traction battery market. 

Increased Electric Vehicle Adoption: The global push for cleaner and more sustainable transportation was resulting in a higher adoption rate of electric vehicles. This shift towards electric mobility was a primary driver for the growth of the traction battery market, as electric vehicles rely on these batteries for power.

Growing Demand for Long-Range Batteries: Consumers' preferences were shifting towards electric vehicles with longer driving ranges. As a result, there was a growing demand for traction batteries that could offer higher energy storage capacity, enabling EVs to travel longer distances on a single charge. 

Focus on Fast-Charging Capabilities: Fast-charging infrastructure was expanding, and consumers were increasingly seeking electric vehicles that could be charged quickly. Traction battery manufacturers were working on developing batteries capable of fast-charging to meet this demand.

The Traction Battery Market- Company analysis

Panasonic Corporation: Panasonic is a well-established multinational electronics company and a major player in the traction battery market. It has a strong presence in producing lithium-ion batteries for electric vehicles and supplies them to various automakers globally. Panasonic collaborates with Tesla as a strategic partner for supplying batteries to Tesla's electric vehicles.

LG Chem: LG Chem is a leading chemical company and one of the largest lithium-ion battery manufacturers in the world. The company is actively involved in supplying traction batteries to various electric vehicle manufacturers. LG Chem's batteries are known for their high energy density and reliability.

Contemporary Amperex Technology Co. Limited (CATL): CATL is a major player in the global battery industry, specializing in the production of lithium-ion batteries for electric vehicles and energy storage applications. The company is headquartered in China and supplies batteries to several automakers worldwide.

Samsung SDI Co., Ltd.: Samsung SDI is a subsidiary of Samsung Group and a significant player in the traction battery market. The company manufactures lithium-ion batteries for electric vehicles and energy storage systems. Samsung SDI's batteries are used in various electric vehicle models.
  
Tesla, Inc.: Tesla is a pioneering electric vehicle manufacturer founded by Elon Musk. While it is known for its electric vehicles, it is also a significant player in the traction battery market. Tesla manufactures its lithium-ion batteries in partnership with Panasonic and has its own battery research and development efforts.

Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Incinerator Market Report. The top 10 companies in this industry are listed below:
1. Panasonic Corporation 
2. LG Chem
3. Contemporary Amperex Technology Co. Limited (CATL)
4. Samsung SDI Co., Ltd. 
5. BYD Company Limited 
6. Tesla, Inc.
7. Johnson Controls International plc
8. GS Yuasa Corporation 
9. Toshiba Corporation 
10. Hitachi Chemical Co., Ltd.

Scope of Report: 


Report MetricDetails

Base Year Considered

2022

Forecast Period

2023 – 2030

CAGR

3.51%

Market Size in 2030

228.735 billion


Segments Covered


By Product Type, By Capacity, By Application



Geographies Covered

  • North America

  • Europe

  • Asia-Pacific

  • LAMEA







Key Market Players

  1. Panasonic Corporation

  2. LG Chem

  3. Contemporary Amperex Technology Co. Limited (CATL)

  4. Samsung SDI Co., Ltd.

  5. BYD Company Limited

  6. Tesla, Inc.

  7. Johnson Controls International plc

  8. GS Yuasa Corporation

  9. Toshiba Corporation

  10. Hitachi Chemical Co., Ltd.




1.Traction Battery Market - Overview
    1.1.Definitions and Scope
2.Traction Battery Market - Executive Summary
3.Traction Battery Market - Comparative Analysis
    3.1. Company Benchmarking - Key Companies
    3.3. Market Share Analysis - Key Companies
    3.4. Patent Analysis
    3.5. Pricing Analysis
    3.2. Global Financial Analysis - Key Companies
4.Traction Battery Market - Start-up Companies Scenario (Premium)
    4.1.Key Start-up Company Analysis by
        4.1.1.Investment
        4.1.2.Revenue
        4.1.3.Venture Capital and Funding Scenario
5.Traction Battery Market – Market Entry Scenario Premium (Premium)
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing Business Index
    5.3. Case Studies of Successful Ventures
6.Traction Battery Market - Forces
    6.1. Market Drivers
    6.2. Market Constraints
    6.3 .Market Challenges
    6.4. Porter's Five Force Model
        6.4.1. Bargaining Power of Suppliers
        6.4.2. Bargaining Powers of Customers
        6.4.3. Threat of New Entrants
        6.4.4. Rivalry Among Existing Players
        6.4.5. Threat of Substitutes
7.Traction Battery Market – Strategic Analysis
    7.1. Value Chain Analysis
    7.2. Opportunities Analysis
    7.3. Market Life Cycle
8.Traction Battery Market – By Product Type
    8.1. Lead Acid Based
        8.1.1. Market Trends by Region
        8.1.2. Market Share & Forecast by Region
    8.2. Nickel Based 
        8.2.1. Market Trends by Region
        8.2.2. Market Share & Forecast by Region
    8.3. Lithium-Ion Based
        8.3.1. Market Trends by Region
        8.3.2. Market Share & Forecast by Region
9.Traction Battery Market –  By Capacity
    9.1 Less than 100 Ah
        9.1.1 Market Trends by Region
        9.1.2 Market Share & Forecast by Region
    9.2 100-200 Ah
        9.2.1 Market Trends by Region
        9.2.2 Market Share & Forecast by Region
    9.3 200-300 Ah
        9.3.1 Market Trends by Region
        9.3.2 Market Share & Forecast by Region
    9.4 300-400 Ah
        9.4.1 Market Trends by Region
        9.4.2 Market Share & Forecast by Region
10 Traction Battery Market – By Application 
    10.1 Electric Vehicle (EV)
        10.1.1 Market Trends by Region
        11.1.2 Market Share & Forecast by Region
    10.2 Industrial, Locomotives
        10.2.1 Market Trends by Region
        10.2.2 Market Share & Forecast by Region
        10.2.2 Traction Battery Market – by Geography (Market Size – $Million/$Billion) 
    10.3 North America
        10.3.1 The U.S.
        10.3.2 Canada
    10.4 Europe
        10.4.1 UK
        10.4.2 Germany
        10.4.3 France
        10.4.4 Italy
        10.4.5 Spain
        10.4.6 Russia
        10.4.7 Rest of Europe
    10.5 Asia-Pacific
        10.5.1 China
        10.5.2 India
        10.5.3 Japan
        10.5.4 South Korea
        10.5.5 Australia & New Zealand
        10.5.6 Rest of Asia-Pacific
    10.6 South America
        10.6.1 Brazil
        10.6.2 Argentina
        10.6.3 Chile
        10.6.4 Colombia
        10.6.5 Rest of South America
    10.7 Rest of the World
        10.7.1 Middle East
        10.7.2 Africa
11 Traction Battery Market – Entropy
12 Traction Battery Market – Industry/Segment Competition Landscape Premium 
    12.1 Market Share Analysis
        12.1.1 Market Share by Product Type – Key Companies
        12.1.2 Market Share by Region – Key Companies
        12.1.3 Market Share by Country – Key Companies
    12.2 Competition Matrix
    12.3 Best Practices for Companies
13 Traction Battery Market – Key Company List by Country Premium Premium 
14 Traction Battery Market - Company Analysis
    14.1 Panasonic Corporation 
    14.2 LG Chem Ltd.
    14.3 Contemporary Amperex Technology Co. Limited (CATL)
    14.4 Samsung SDI Co., Ltd. 
    14.5 BYD Company Limited 
    14.6 Tesla, Inc.
    14.7 Johnson Controls International plc
    14.8 GS Yuasa Corporation 
    14.9 Toshiba Corporation 
    14.10 Hitachi Chemical Co., Ltd.
    14.11 EnerSys
    14.12 A123 Systems LLC
    14.13 Saft Group S.A.
    14.14 Exide Technologies
    14.15 Novartis International AG
    14.16 East Penn Manufacturing Company, Inc.
    14.17 Kokam Co., Ltd.
    14.18 Leoch International Technology Limited
    14.19 HOPPECKE Batterien GmbH & Co. KG
    14.20 Trojan Battery Company
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The Traction Battery Market is projected to grow at 4.2% CAGR during the forecast period 2023-2030.

Traction Battery Market size is projected to reach 3.5 billion by 2030

The leading players in the Traction Battery Market are Panasonic Corporation, LG Chem, Contemporary Amperex Technology Co. Limited (CATL), Toshiba Corporation, Samsung SDI Co., Ltd. , BYD Company Limited, Tesla, Inc., Johnson Controls International plc, GS Yuasa Corporation, Hitachi Chemical Co., Ltd.\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\r\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\n\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\r\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\n