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Traction Battery Market Share

Report ID: GMI2888
Published Date: Dec 2024
Report Format: PDF

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Traction Battery Market Share

Global Traction Battery Company Market Share Analysis, 2024

Leading companies such as LG Energy, Samsung, and Panasonic dominate the traction battery industry, leveraging their advanced technologies, large-scale production capabilities, and substantial investments in research and development. These industry leaders continually innovate, delivering high-performance lithium-ion batteries with improved energy density, faster charging capabilities, and enhanced safety standards.

Traction Battery Market Companies

Some of the major key players operating across the traction battery industry are:

Aliant Battery
Amara Raja Batteries
BYD
Camel Group
Ecovolta
EnerSys
Exide Industries
Farasis Energy
Guoxuan High-tech Power Energy
Hitachi Energy
Hoppecke Batteries
LG Energy
Midac
Mutlu
Panasonic
Samsung
Sunwoda Electronic
Toshiba

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The global market for traction battery was reached USD 65.6 billion in 2024 and is expected to witness a CAGR of 22.6% from 2025 to 2034, driven by the acceleration in EV adoption

The lithium-ion segment is set to reach USD 356.2 billion through 2034, propelled by the increasing adoption of electric vehicles (EVs) and advancements in battery technologies.

The electric vehicles segment is expected to expand at a CAGR of more than 21.8% through 2034, fueled by rising consumer demand for sustainable transportation and government incentives.

The U.S. traction battery market is projected to exceed USD 65.7 billion by 2034, led by the increasing adoption of electric vehicles (EVs) and a strong push for sustainable transportation.

Key players in the traction battery market include Aliant Battery, Amara Raja Batteries, BYD, Camel Group, Ecovolta, EnerSys, Exide Industries, Farasis Energy, Guoxuan High-tech Power Energy, Hitachi Energy, Hoppecke Batteries, LG Energy, Midac, Mutlu, Panasonic, Samsung, Sunwoda Electronic, and Toshiba.