About Traction Battery Pack
A traction battery is a type of electric vehicle battery which has a high ampere-hour capacity. This is used to power the electric motors among both hybrid and electric vehicles. It is most often rechargeable and specially optimized for heavy ampere-hour capacities. The most common types of traction batteries are lead acid-based, Li-ion-based, nickel-based, and many others. The lithium-ion base battery contains lithium-ion as a component. These would be used in industrial trucks that were initially designed to be powered by lead-acid batteries.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The market for Traction Battery Pack is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Traction Battery Pack market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Duracell (United States), Atlasbx (South Korea), Sony (Japan), Crown Battery Manufacturing (United States), Hitachi (Japan), Enersys (United States), Systems Sunlight (United States), GS Yuasa (Japan), Hoppecke Batteries (Germany) and Midac (Italy) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are NorthStar Battery Company (Sweden), BAE Batterien (Germany), Coslight Technology International Group (China) and Exide (India).
Segmentation Overview
AMA Research has segmented the market of Global Traction Battery Pack market by Type (Lead-acid, Lithium-ion and Nickel-metal Hydride), Application (Plug-in Hybrid Electric Vehicle, Battery Electric Vehicle, Hybrid Electric Vehicles and Industrial) and Region.
On the basis of geography, the market of Traction Battery Pack has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. OEM will boost the Traction Battery Pack market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Cells, the sub-segment i.e. 2 Volt cells will boost the Traction Battery Pack market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Traction Battery Pack Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increasing Application Across Different Industry Verticals
- Surge in Demand for Electric Vehicles Globally
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Influencing Trends | - Ongoing Research and Development on Li-Ion Batteries to Improve the Performance
- High Investment in Battery Technology
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Restraints | - High Initial Investment
- Technological Limitations
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Road Blocks / Challenges | - Lack of durability associated with Traction battery pack
- Availability of Cheaper Substitutes in the Market
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Gaps & Opportunities | - rising volatility in fuel prices have surged the demand for electric vehicles
- Growing Sales of Traction Battery Pack through the Online Platform
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Market Leaders and their expansionary development strategies
On 30 November 2021, EnerSys, the world's largest manufacturer, marketer, and distributor of industrial batteries,announced that it has completed the acquisition of the industrial battery businesses of the Swiss company Accu Holding AG. Enersys acquired the stock of OEB Traction Batteries and the operating assets and liabilities of Oerlikon Stationery Batteries, along with its Swedish sales subsidiary
On 27 October 2021, EnerSys, the global leader in stored energy solutions for industrial applications and the manufacturer of ODYSSEY batteries, has strengthened its portfolio to now include ODYSSEY PRO batteries, engineered with an advanced carbon additive for more reserve capacity (up to 10 percent) and longer cycle life. and On 30 March 2022, Sunlight Group Energy Storage Systems, has launched the Sunlight ElectroLiFe, its newest semi-traction lithium-ion (Li-ion) battery. ElectroLiFe’s innovative lightweight yet robust design is built to suit evolving customer needs and allows for tool-less plug-and-play installation in manufacturing and light commercial vehicle applications, such as AGVs (automated guided vehicles) and other material handling equipment.
Key Target Audience
Traction Battery Pack Manufacturers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.