Transportation Battery Market – Global Industry Analysis and Forecast (2023-2029) by Type, Application and Region

Transportation Battery Market was valued at US$ 89.98 Bn. in 2022. The Global Transportation Battery Market size is estimated to grow at a CAGR of 9.2% over the forecast period.
Transportation Battery Market Overview:
The report explores the Transportation Battery market's segments (Type, Interferometer Type, Application, End-User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2022. The report investigates the Transportation Battery market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Transportation Battery market's contemporary competitive scenario.

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2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Transportation Battery Market Dynamics:
Transportation batteries are the batteries that are used in the e-vehicles like hybrid cars, plug-in hybrids, scooters, etc. It is available in different sizes and shapes to fit the many transportation modes. It is consisting of positive and negative electrodes with an electrolyte solution that allows for the flow of ions. When the electrical current is generated, the chemical energy is converted into electrical energy. The increasing demand for e-vehicle and government regulations for ejection of conventional vehicles. It also provides power to automobile sectors like music systems, air conditioners, wipers, etc.

The rapidly increasing urbanization of developing countries and advancement of economies will drive the market in the forecasted period. also, the growing demand for e-vehicle, fuel-saving, and government incentives for cleaner transport are the factors that drive the market in the forecasted period. In the U.S. and China, the government is promoting e-vehicle to protect human life from harmful effects of air pollution and also protect the environment. It has a positive impact on the market. This will develop the urban infrastructure by providing fuel stations and as an outcome, it will raise the demand for the transportation battery market.

The factors which will block the growth of the market are skilled labor shortage, lack of technicians, and the absence of rules and standards. The battery safety problem is one of the major issues which will hamper the growth of the market. High- costs of fuel, limited range and rapidly changing oil prices will restrain the growth of the transportation market. The advanced technologies in e-vehicles and hybrid batteries will create an opportunity in the market.

Transportation Battery Market Trends:

In March 2020, BYD introduced a new blade battery for e-vehicles which increase the battery structure by 50% compared to lithium iron phosphates battery and also better in battery safety.

In 2019, LG Chem merge with General Motors to increase the manufacturing capacity of e-vehicles in the new plant in Ohio.

In February 2020, LG Chem again merge with another company that is Lucid motors, a luxury e-vehicles company to increase the supply of cylindrical batteries for e-vehicles.
Transportation Battery Market Segment Analysis:
Based on Type, the Transportation Battery Market is segmented into LFP, LCO, NCM/NCA, and LMO.

In this segment, LFP (lithium iron phosphate) is dominating the transportation battery market. Because it is known as the heart of e-vehicles with high capacity, long life, and stability. Without these features of LFP, it is impossible to make e-vehicles in the market. The two types of lithium-ion batteries are NCM/NCA (Nickel-Cobalt-Manganese/Nickel-Cobalt-Aluminium) they have a higher energy density and are used for various applications like grid storage, consumer electronics, etc. LMO (Lithium-Manganese-oxide) battery, has the lowest energy density and it is used in lightweight transport like a wheelchair, e-bikes =, etc.

Based on Application, the Transportation Battery Market is segmented into HEV and BEV.

In this segment, HEV is dominating the market for transportation batteries because it provides short-term bursts for acceleration also useful for long-term storage for steady power needs. It also provides power to high-load systems like air conditioners and heaters. The transportation battery is used BEV to store electrical energy which is converted into motion. This battery helps control the speed and power of the electric motors. Some of the advantages of using BEV in transportation batteries are power storage on the go and stopping traffic jams. It also stores the extra energy for the sudden acceleration of the electrical car.
Transportation Battery Market Regional Insights:
The APAC region held the largest market share accounting for 48% in 2021.

The APAC region is expected to witness significant growth at a CAGR of 10% through the forecast period.

The APAC region is dominating the market of transportation batteries because of the highest number of market players and advanced technologies, developed infrastructure, and finances. India and China have the largest population in the world, which generate more profit in the automotive and two-wheeler markets. The demand for commercial aircraft and automobiles is increasing, it has become an integral part of the overall supplier for the transportation market. Government initiatives are also driving the market for transportation batteries.

The objective of the report is to present a comprehensive analysis of the global Transportation Battery Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Transportation Battery Market dynamic, and structure by analyzing the market segments and projecting the Transportation Battery Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Transportation Battery Market make the report investor’s guide.
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Transportation Battery Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 89.98 Bn.


Forecast Period 2023 to 2029 CAGR:
9.2%
Market Size in 2029:
US $ 166.61 Bn.


 Segments Covered:
by Application
• HEV
• BEV


by Type
• NCM/NCA
• LCO
• LFP
• LMO



Transportation Battery Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Transportation Battery Market Key Players:
• Lithium Energy Japan
• BYD
• Panasonic
• CATL
• OptimumNano
• LG Chem
• WanXiang
• GuoXuan
• Lishen
• PEVE
• AESC
• Samsung
• Beijing Pride Power
• BAK Battery
• Hitachi
• ACCUmotive
• Boston Power

Frequently Asked Questions:

1)What is the CAGR of the Transportation Battery market in the forecasted period?
Ans. The CAGR of the Transportation Battery market in the forecasted period is 9.8%.

2)What is the market size of the Transportation Battery market in 2022?
Ans. The market size of the Transportation Battery market in 2022 was worth USD$ 89.98 Bn.

3)What is the market size of the Transportation Battery market in 2029?
Ans. The market size of the Transportation Battery market is expected to grow by USD$ 166.61 Bn. in 2029.

4)Which segment is expected to hold the largest market share in the Transportation Battery market?
Ans. LFP holds the largest market share in Transportation Battery in 2022.

5)Which region is expected to hold the largest market share in the Transportation Battery market?
Ans. The APAC region has the largest market share in Transportation batteries.