Dublin, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The "Transportation Battery Market Report, Forecast by Battery Type, Types, Drive Type, Countries and Company Analysis, 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global transportation battery market is poised to experience a formidable expansion from US$ 85.67 Billion in 2023 to an anticipated US$ 263.78 Billion by 2032. Multiple dynamics, including enhancing electric vehicle (EV) popularity, burgeoning charging infrastructure, and progressive government regulations, fuel the market's upward trajectory with a compound annual growth rate (CAGR) of 13.31% from 2024 to 2032.
Growth Factors in the Transportation Battery Industry
A surge in electric vehicle uptake, driven by heightened environmental conscientiousness and favorable legislative landscapes, is a central driver catalyzing the growth of the transportation battery market. Ecological imperatives and the subsequent demand for cutting-edge battery technologies are likely to escalate as global sales forecasts for EVs suggest a significant shift in consumer preferences by 2030.
Parallelly, an expansion in the charging infrastructure is noted as a vital factor propelling the transportation battery market forward. Investments in charging solutions are facilitating the convenience and practicality of EV use, expanding the industry's potential. The Asia Pacific region, particularly, is showing remarkable industry ascendancy, credited to its expansion in EV adoption and robust battery supply chains.
Asia Pacific Transportation Battery Market Overview
The Asia Pacific market is expected to maintain a commanding presence over the forecast period, leveraging its substantial production capabilities and escalating EV utilization. Nations such as China, South Korea, and Japan carry the vanguard in battery production and raw material procurement, while tectonic shifts in consumer habits and economic growth stimulate further market penetration in the region.
Transportation Battery Market Company Overview
Leaders and innovators in the global transportation battery landscape continue to adapt and advance the market through strategic partnerships, sustainable manufacturing practices, and investment in new production facilities. The significant market players, with a footprint across various geographies, are responding dynamically to the growing demand, underpinning the market's robust outlook.
Country and Battery Type Market Specifics
The market analysis breaks down the global landscape into significant categories and segments, offering a granular view across battery types, vehicles, and regional footprints. In-depth assessments cover key countries within regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, providing valuable perspectives on market evolution and facilitating informed strategic planning.
The industry's trajectory is underscored by innovation, strategic collaborations, and an unwavering commitment to sustainability, as evidenced by recent developments in battery technology and associated business activities within the sector. The comprehensive overview of the transportation battery market, complete with financial insights and product portfolios, reveals not only the market's vigorous growth but also its pivotal role in the sustainable transformation of the transportation sector on a global scale.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $85.67 Billion |
| Forecasted Market Value (USD) by 2032 | $263.78 Billion |
| Compound Annual Growth Rate | 13.3% |
| Regions Covered | Global |
Companies Featured
- Panasonic Corporation
- Exide Industries
- VARTA
- Hitachi Group Ltd
- Robert Bosch GmbH
- SAMSUNG SDI Co. Ltd
- LG Chem Ltd
For more information about this report visit https://www.researchandmarkets.com/r/nhqhyh
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