Traction Battery Market to See Drastic Growth Post 2020 | Hitachi, Mitsubishi, Samsung

Global Traction Battery Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, players market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.

Major Players in This Report Include,
Johnson Controls (United States), East Penn Manufacturing (United States), Samsung (South Korea), Mitsubishi (Japan), Hitachi (Japan), BYD Company (China), LG Chem (South Korea), Panasonic (Japan), Enersys (United States) and Systems Sunlight (United States)

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Traction Battery are the electric vehicle battery which are rechargeable. These are used in forklifts, golf carts, floor scrubbers and others. The batteries are characterised by power to weight ratio, specific energy and energy density as it makes up the cost of the vehicle. The advancements in batteries has helped to improve the efficiency and reduce costs which is boosting the market of electric vehicle. The weight of the battery pack is 1.3 to 1.5 times greater than that of cells and the power consumption depends on the weights of the vehicle. According to IEA the global sales of the electric vehicle passed 1.98 million units in 2018 and raising global stock to 5.12 million. This growth is primarily driven by Increasing Demand for Hybrid and Electric Vehicles and Usage of Batteries in Different Types of Vehicles.

Key Developments in the Market:
In 2018, Johnson Controls announced that it has acquired the assets of Lux Products Corporation (LUX), a leader in residential thermostats and smart home products
In 2019, Saft has recently launched the Xcelion 56V lithium-ion (Li-ion) battery, offering customers a variant on the proven technology behind the Xcelion 6T® for applications requiring higher voltage

Market Drivers
• Increasing Demand for Hybrid and Electric Vehicles
• Usage of Batteries in Different Types of Vehicles

Market Trend
• Increasing Need of Environment Friendly Vehicles
• Ongoing Research and Development on Li-Ion Batteries to Improve the Performance

Restraints
• High Costs Associated with the Traction Batteries
• Limitations Related to Lead Acid Batteries

Opportunities
• Government Initiatives towards the Electric Vehicles and Decrease in Battery Expenses is Creating an Opportunity for the Traction Batteries

Challenges
• Non Availability of Cheaper Substitutes in the Market and High Competition Due to the Presence of Major Players

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In this research study, the prime factors that are impelling the growth of the Global Traction Battery market report have been studied thoroughly in a bid to estimate the overall value and the size of this market by the end of the forecast period. The impact of the driving forces, limitations, challenges, and opportunities has been examined extensively. The key trends that manage the interest of the customers have also been interpreted accurately for the benefit of the readers.

The Traction Battery market study is being classified by Type, Applications and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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).

The Global Traction Battery is segmented by Type (Lead Acid, Li-Ion, Nickel Based, Others), Application (Electric Vehicles, Industrial, E-bikes), Distribution (OEM, Aftermarket), Cells (2 Volt cells, 4 volt cells, 6volt cells, 8 volt cells, 12 volt cells)

The report concludes with in-depth details on the business operations and financial structure of leading vendors in the Global Traction Battery market report, Overview of Key trends in the past and present are in reports that are reported to be beneficial for companies looking for venture businesses in this market. Information about the various marketing channels and well-known distributors in this market was also provided here. This study serves as a rich guide for established players and new players in this market.

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Current Scenario Analysis for Decision Framework
Key Strategic Developments in Traction Battery Market:
The research includes the key strategic activities such as Research & Development (R&D) initiatives, Merger & Acquisition (M&A) completed, agreements, new launches, collaborations, partnerships & (JV) Joint ventures, and regional growth of the key competitors operating in the market at global and regional scale to overcome current slowdown due to COVID-19.

Key Market Features in Global Traction Battery Market
The report highlights Traction Battery market features, including revenue size, weighted average regional price, capacity utilization rate, production rate, gross margins, consumption, import & export, demand & supply, cost bench-marking in Traction Battery, market share and annualized growth rate (Y-o-Y) and Periodic CAGR.

Extracts from Table of Contents
Global Traction Battery Market Research Report
Chapter 1 Global Traction Battery Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Revenue (Value, Volume*) by Region
Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions
Chapter 6 Global Revenue (Value, Volume*), Price* Trend by Type
Chapter 7 Global Market Analysis by Application
………………….continued

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This report also analyzes the regulatory framework of the Global Markets Traction Battery Market Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analyzed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.

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