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Asia Pacific Industrial Traction Battery Market Share

Report ID: GMI9362
Published Date: May 2024
Report Format: PDF

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Asia Pacific Industrial Traction Battery Market Share

Contemporary Amperex Technology Co. Limited (CATL) has emerged as leading player in the market. Company's success can be attributed to its high production capacity, commitment to technological advancements, strategic partnerships with major automotive manufacturers, and support from Chinese government's pro-electric vehicle policies. CATL's focus on innovation has allowed it to develop cutting-edge battery technologies that cater to growing demand for high-performance and eco-friendly power solutions.

Asia Pacific Industrial Traction Battery Market Companies

Some of the key market players operating across the Asia Pacific industrial traction battery industry are:

Amara Raja Batteries Ltd.
Banner Batterien
BYD Company
CATL
East Penn Manufacturing Company Inc.
Enersys
Exide Industries Ltd.
GS Yuasa Corporation
Hitachi Energy
HOPPECKE Batteries GmbH & Co. KG
Honda Motors Company Ltd.
LG Energy Solutions
MIDAC S.p.A.
Mutlu Corporation
Panasonic Corporation
Samsung SDI Co., Ltd.
Toshiba Corporation

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size for industrial traction battery in Asia Pacific reached USD 2.65 billion in 2023 and is set to grow at 16.4% CAGR from 2024 to 2032, owing to increasing demand for electric vehicles and government regulations supporting the adoption of eco-friendly technologies.

The lithium-ion batteries segment will generate USD 7.65 billion by 2032, driven by the longer lifespan than their counterparts, reducing maintenance and replacement costs for users.

China industrial traction battery industry is poised to cross USD 9.12 billion by 2032, due to the push towards electric vehicle adoption and the vast demand for industrial traction batteries, with government support in form of policies and incentives.

Amara Raja Batteries Ltd., Banner Batterien, BYD Company, CATL, East Penn Manufacturing Company Inc., Enersys, Exide Industries Ltd., GS Yuasa Corporation, Hitachi Energy, HOPPECKE Batteries GmbH & Co. KG, Honda Motors Company Ltd., and LG Energy Solutions among others.