Global EV-traction Batteries Market Growth 2024-2030

Global EV-traction Batteries Market Growth 2024-2030

According to our LPI (LP Information) latest study, the global EV-traction Batteries market size was valued at US$ 41940 million in 2023. With growing demand in downstream market, the EV-traction Batteries is forecast to a readjusted size of US$ 52340 million by 2030 with a CAGR of 3.2% during review period.

The research report highlights the growth potential of the global EV-traction Batteries market. EV-traction Batteries are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of EV-traction Batteries. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the EV-traction Batteries market.

Traction batteries, also known as electric vehicle batteries (EVB), are used to power electric or hybrid vehicles. The main focus of the traction battery design is the need for high capacity weight and volume ratios as the vehicle must also carry its power source.

Global EV sales continued strong. A total of 10,5 million new BEVs and PHEVs were delivered during 2022, an increase of +55 % compared to 2021. China and Europe emerged as the main drivers of strong growth in global EV sales. In 2022, the production and sales of new energy vehicles in China reach 7.0 million and 6.8 million respectively, a year-on-year increase of 96.9% and 93.4%, with a market share of 25.6%. The production and sales of new energy vehicles have ranked first in the world for eight consecutive years. Among them, the sales volume of pure electric vehicles was 5.365 million, a year-on-year increase of 81.6%. In 2022, sales of pure electric vehicles in Europe will increase by 29% year-on-year to 1.58 million.

Key Features:

The report on EV-traction Batteries market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the EV-traction Batteries market. It may include historical data, market segmentation by Type (e.g., Open Lead Acid Battery, Pure Lead Battery), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the EV-traction Batteries market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the EV-traction Batteries market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the EV-traction Batteries industry. This include advancements in EV-traction Batteries technology, EV-traction Batteries new entrants, EV-traction Batteries new investment, and other innovations that are shaping the future of EV-traction Batteries.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the EV-traction Batteries market. It includes factors influencing customer ' purchasing decisions, preferences for EV-traction Batteries product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the EV-traction Batteries market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting EV-traction Batteries market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the EV-traction Batteries market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the EV-traction Batteries industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the EV-traction Batteries market.

Market Segmentation:

EV-traction Batteries market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
Open Lead Acid Battery
Pure Lead Battery
Gel Battery
Lithium-Ion Battery

Segmentation by application
Industrial Vehicles
Recreational Vehicles

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Panasonic
CATL
LG Chem
BYD
GS Yuasa
Gotion
CSICP
Lishen
East Penn Manufacturing
Clarios
Enersys

Key Questions Addressed in this Report

What is the 10-year outlook for the global EV-traction Batteries market?

What factors are driving EV-traction Batteries market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do EV-traction Batteries market opportunities vary by end market size?

How does EV-traction Batteries break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.