The Traction Battery Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Traction Battery Market?
The Traction Battery Global Market Report 2025 shows a swift rise in the traction battery market. The market size was $39.91 billion in 2024 and is projected to reach $44.47 billion in 2025, with a compound annual growth rate (CAGR) of 11.4%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Traction Battery Industry?
The Traction Battery Global Market is anticipated to grow to a market size of $68.71 billion by 2029. The predicted compound annual growth rate (CAGR) is 11.5%.
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What are the Key Growth Drivers Fueling the Traction Battery Market?
The key drivers in the traction battery market are:
• Expansion of the electric vehicle market
• Growth in energy storage applications
• Emphasis on battery recycling and sustainability
• Development of charging infrastructure and market diversification
Global Market Segmentation: Identifying Major Traction Battery Industry Segments
The traction battery market covered in this report is segmented –
1) By Product Type: Lead Acid Based, Li-Ion Based, Nickel Based, Other Types
2) By Capacity: Less than 100 Ah, 100 – 200 Ah, 200 – 300 Ah, 300 – 400 Ah, 400 Ah And above
3) By Application: Electrical Vehicle (EV), Hybrid Electric Vehicles (HEV), Industrial, Forklift, Mechanical Handling Equipment, Other Applications
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What are the Emerging Trends Shaping the Future of the Traction Battery Market?
The key trends in the oxygen therapy market are:
• The emerging trend of fast charging technology is significantly shaping the traction battery market.
• The utilization of second-life batteries is increasing, impacting the future trajectory of the market.
• There is an upward trend in production capacity within the traction battery sector.
• The implementation of advanced battery management systems and increased energy density are major future trends.
Who Are the Top Competitors & Leading Players in the Traction Battery Market?
Major companies in the traction battery market are:
• Amara Raja Batteries Limited
• BAE Batterien GmbH
• Banner Batterien GmbH
• BYD Company Limited
• Coslight Technology International Group Co. Ltd.
• East Penn Manufacturing Company Inc.
• EnerSys
• Exide Industries Limited
• GS Yuasa International Ltd.
• HOPPECKE Carl Zoellner & Sohn GmbH
• Mutlu Akü ve Malzemeleri Sanayi Ticaret A.S.
• Sunlight Systems S.A.
• C&D Technologies Inc.
• Chaowei Power Holdings Limited
• Leoch International Technology Limited
• Sebang Global Battery Co. Ltd.
• Tesla Inc.
• Panasonic Corporation
• LG Chem Ltd.
• Samsung SDI Co. Ltd.
• Contemporary Amperex Technology Co. Limited (CATL)
• Saft Groupe S.A.
• Trojan Battery Company
• A123 Systems LLC
• Toshiba Corporation
• Hitachi Chemical Co. Ltd.
• Narada Power Source Co. Ltd.
• NorthStar Battery Company LLC
• Sumitomo Electric Industries Ltd.
• Crown Battery Manufacturing Company
• Tadiran Batteries GmbH
• Discover Battery
• Sinopoly Battery Limited
Regional Dominance: Which Area Leads the Global Traction Battery Market?
North America was the largest region in the traction battery market in 2024
