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Bolt-on Industrial Traction Battery Market Size
- Report ID: GMI9600
- Published Date: May 2024
- Report Format: PDF
Bolt-on Industrial Traction Battery Market Size
Bolt-on Industrial Traction Battery Market Size in 2023 was valued at USD 2.6 billion and is anticipated to grow at a CAGR of 15% between 2024 and 2032 due to advances in battery technology, particularly lithium-ion batteries, are improving energy density, charging speed, and efficiency, making them more suitable for industrial applications. The rise of electric vehicles (EVs) in industries, including forklifts and automated guided vehicles (AGVs), is driving demand for reliable and long-lasting batteries.
Investments in infrastructure, such as charging stations and smart grids, support the increased use of battery-powered industrial equipment. Multiple companies are establishing the significant partnerships and collaborations, expanding their business in this market. For instance, In June 2022, BSLBATT Battery announced a significant deal with a major distributor of industrial forklift batteries in China. Utilizing its cutting-edge BSLBATT modular technology, the company will provide power solutions for material handling equipment across large facilities spanning 950,000 square feet.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Bolt-on Industrial Traction Battery Market Size in 2023: | USD 2.6 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 15% |
| 2032 Value Projection: | USD 9.6 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 80 |
| Tables, Charts & Figures: | 15 |
| Segments covered: | Chemistry and Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Bolt-on Industrial Traction Battery Market Scope
