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Asia Pacific Traction Battery Market Share

Report ID: GMI7369
Published Date: Nov 2023
Report Format: PDF

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Asia Pacific Traction Battery Market Share

ABB holds a significant presence in the Asia Pacific traction battery induatry, recognized for its extensive expertise in the design and manufacturing of various battery technologies, including EV battery, ESS battery, among others. The company boasts a long and storied history deeply embedded in the field of battery technologies. Over the years, ABB has provided battery solutions across a wide range of applications, encompassing various industries and electric vehicles.

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

Hitachi Energy Ltd.
Toshiba Corporation
Samsung SDI Co., Ltd.
Panasonic Corporation
LG Energy Solution
Camel Group Co., Ltd
Mutlu Corporation
Amara Raja Batteries Ltd.
HOPPECKE Batteries GmbH & Co. KG
ENERSYS
EXIDE INDUSTRIES LTD.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

Asia Pacific market for traction battery was valued USD 24.9 billion in 2022 and is projected to grow at a CAGR of over 21% through 2032, driven by the increasing awareness of environmental sustainability and a heightened emphasis on infrastructure development, accompanied by a surge in Foreign Direct Investment (FDI).

China traction battery market held over 89.5% revenue share in 2022 and will continue to grow, backed by the Chinese government's policies and incentives to promote EVs, along with increasing environmental awareness.

Hitachi Energy Ltd, Toshiba Corporation, Samsung SDI Co., Ltd., Panasonic Corporation, LG Energy Solution, Camel Group Co., Ltd are some of the major industry contenders.