Automotive Traction Battery Market by Capacity, Battery Type, Vehicle Type

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[193 Pages Report] The Automotive Traction Battery Market size was estimated at USD 13.89 billion in 2023 and expected to reach USD 15.14 billion in 2024, at a CAGR 9.39% to reach USD 26.05 billion by 2030.

An automotive traction battery, commonly known in the context of electric vehicles (EVs) and hybrid electric vehicles (HEVs), serves as the principal power source propelling the vehicle's electric motor. Unlike conventional automotive batteries primarily used to start an internal combustion engine, traction batteries are designed for deep cyclability and can provide power over extended periods. These batteries are critical for the performance, range, and efficiency of EVs and HEVs, and they come in various types, including lithium-ion, nickel-metal, and lead-acid batteries, each offering distinct advantages in terms of energy density, life span, and cost. The increasing sales and production of EVs worldwide is a primary catalyst for the automotive traction battery market. With growing environmental concerns and regulatory policies to reduce carbon emissions, consumers are increasingly pivoting towards EVs, boosting the demand for high-capacity traction batteries. The lack of widespread and accessible charging infrastructure and the long charging times of current battery technology pose a significant barrier for manufacturers and end users. Moreover, the technological advancements in traction batteries present a potential avenue for manufacturers. Developing battery recycling and second-life applications also holds vast potential to sustain long-term market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 13.89 billion
Estimated Year [2024]	USD 15.14 billion
Forecast Year [2030]	USD 26.05 billion
CAGR (%)	9.39%

Capacity: Utilization of high and medium capacity traction batteries as per their need in heavy-duty and lightweight vehicles

The automotive traction batteries are segmented by capacity into three primary categories including high capacity (over 60 kWh), medium capacity (30 to 60 kWh), and low capacity (under 30 kWh). High-capacity batteries are primarily utilized in longer-range electric vehicles (EVs) and premium models, offering extended driving ranges exceeding 200 miles per charge, catering to consumer demands for reliability and expanded travel capabilities. Medium-capacity batteries balance range and cost-efficiency, making them suitable for commercial vehicles requiring moderate range and power. Moreover, low-capacity batteries are typically found in entry-level EVs, hybrid electric vehicles (HEVs), and other applications due to their compact size, lower cost, and less weight, prioritized over extended range. Understanding the distinct segments and their capacity requirements is crucial for stakeholders in the automotive battery industry to address the varying needs of end-users, innovate strategically, and position their products effectively in a competitive market landscape.

Vehicle Type: Advancements in traction batteries in HEVs to enhance the function of internal combustion engines and electric propulsion

In the rapidly evolving automotive sector, traction batteries play a pivotal role in powering EVs and HEVs, underscoring the industry's shift towards sustainable and efficient modes of transportation. Electric vehicles, which entirely rely on electricity stored in high-capacity batteries for propulsion, significantly benefit from advancements in traction battery technology in terms of increased range and reduced charging times. On the other hand, hybrid electric vehicles utilize internal combustion engines and electric propulsion, with traction batteries supplying power to the electric motor. The ongoing development in traction battery technology, including enhancements in energy density, longevity, and overall performance, is integral to the increasing adoption and success of EVs and HEVs in the global automotive market.

Regional Insights

The United States represents a significant portion of the Americas' market share for automotive traction batteries, energized by consumer enthusiasm for electric vehicles (EVs), technological advancements, and substantial government incentives. Recent initiatives, such as increased federal funding for EV infrastructure and buyer tax incentives, further propel market growth. Canada is witnessing robust growth in the adoption of electric vehicles, supported by government incentives, environmental awareness, and investments in charging infrastructure. The Canadian government's commitment to reducing carbon emissions propels the demand for automotive traction batteries. The automotive traction battery market in the Europe, Middle East, and Africa (EMEA) region is experiencing a significant upward trajectory, driven largely by stringent environmental regulations and a shift towards electric mobility. European nations, being at the forefront, are investing heavily in electric vehicle (EV) infrastructure and incentives, propelling demand for high-capacity traction batteries. Moreover, the Asia-Pacific region, a pivotal market for the automotive industry, has been experiencing a significant surge in demand for EVs, directly influencing the growth of the automotive traction battery market. The increasing awareness of environmental concerns largely fuels this burgeoning demand, government policies incentivizing EV adoption, and advancements in battery technology, reducing costs and improving efficiency.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Automotive Traction Battery Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Automotive Traction Battery Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Automotive Traction Battery Market, highlighting leading vendors and their innovative profiles. These include Amara Raja Energy & Mobility Limited, Chaowel Power Holdings Limited, Clarios, LLC, Contemporary Amperex Technology Co., Limited, Deutsche Accumotive GmbH & Company KG, DYVINITY, East Penn Manufacturing Company, Ecovolta AG, EnerSys Ltd., Foxtron Vehicle Technologies, Gotion High-tech Co., Ltd., GS Yuasa Corporation, Hofer Powertrain GmbH, Leoch International Technology Ltd., LG Chem Ltd., MAHLE GmbH, Mutlu Incorporated, Panasonic Corporation, Rico Storage Energy, The Electric Storage Battery Company, Tianneng Group, and Yuki Electric India Pvt Ltd..

Market Segmentation & Coverage

This research report categorizes the Automotive Traction Battery Market to forecast the revenues and analyze trends in each of the following sub-markets:

Capacity
- High Capacity
- Low Capacity
- Medium Capacity

Battery Type
- Lead Acid
- Lithium-Ion-based
- Nickel- based

Vehicle Type
- EV
- HEV

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Automotive Traction Battery Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Automotive Traction Battery Market?

3. What are the technology trends and regulatory frameworks in the Automotive Traction Battery Market?

4. What is the market share of the leading vendors in the Automotive Traction Battery Market?

5. Which modes and strategic moves are suitable for entering the Automotive Traction Battery Market?

Product Code: MRR-F97DD5A7DAEE

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising production and sales of electric vehicles globally
  - 5.1.1.2. Favorable government policies and incentives to encourage the adoption of EVs
- 5.1.2. Restraints
  - 5.1.2.1. Lack of charging infrastructure for EV traction batteries
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in Li-ion batteries for electric vehicles
  - 5.1.3.2. Rising investments & fundings to develop EV sector worldwide
- 5.1.4. Challenges
  - 5.1.4.1. Charging-related issues and environmental hazards associated with disposal of automotive traction batteries
5.2. Market Segmentation Analysis
- 5.2.1. Capacity: Utilization of high and medium capacity traction batteries as per their need in heavy-duty and lightweight vehicles
- 5.2.2. Vehicle Type: Advancements in traction batteries in HEVs to enhance the function of internal combustion engines and electric propulsion
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Automotive Traction Battery Market, by Capacity

6.1. Introduction
6.2. High Capacity
6.3. Low Capacity
6.4. Medium Capacity

7. Automotive Traction Battery Market, by Battery Type

7.1. Introduction
7.2. Lead Acid
7.3. Lithium-Ion-based
7.4. Nickel- based

8. Automotive Traction Battery Market, by Vehicle Type

8.1. Introduction
8.2. EV
8.3. HEV

9. Americas Automotive Traction Battery Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Automotive Traction Battery Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Automotive Traction Battery Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Hofer Powertrain Develops Fast Recharging Battery Technology for EVs
- 12.3.2. Kia Australia and Infinitev Forge Partnership to Transform the Landscape of EV Battery
- 12.3.3. Mahle And Midtronics Join Forces for Battery Service
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio