Industrial Traction Battery Market
PUBLISHED: 2024 ID: SMRC26742
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Industrial Traction Battery Market

Industrial Traction Battery Market Forecasts to 2030 - Global Analysis By Product (Lithium-ion, Nickel-based and Other Products), Capacity (100-200Ah, 200-300Ah and 400Ah & above), Application and By Geography

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4.1 (76 reviews)
Published: 2024 ID: SMRC26742

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Industrial Traction Battery Market is accounted for $4.66 billion in 2024 and is expected to reach $11.65 billion by 2030 growing at a CAGR of 16.5% during the forecast period. Industrial traction batteries are robust energy storage devices designed to power heavy-duty electric vehicles and equipment in industrial settings. These batteries are built to withstand demanding conditions, providing reliable power for prolonged periods. Typically employing lead-acid or lithium-ion technology, they offer high energy density and efficient performance, crucial for sustaining uninterrupted operations. 

According to a research published by the Indian Ministry of Commerce and Industry, the transport sector in India is expected to grow at a CAGR of 5.9%. According to the Net Zero Emissions by 2050 Scenario, 300 million electric automobiles will be on the road by 2030. According to an International Energy Agency report, electric cars (EVs) will account for more than 60% of worldwide vehicle sales by 2030.

Market Dynamics: 

Driver: 

Focus on green technologies

The focus on green technologies is a key driver in the industrial traction battery market due to the increasing emphasis on sustainability and environmental responsibility. Companies are seeking eco-friendly solutions to power their operations, leading to a growing demand for electric vehicles and machinery powered by industrial traction batteries. This trend is fueled by regulatory initiatives promoting cleaner energy alternatives as well as a shift towards reducing carbon footprints. Additionally, advancements in green technologies have improved the efficiency and reliability of industrial batteries, making them more appealing to businesses looking to optimize their operations while minimizing their environmental impact. 

Restraint:

High initial cost

The high initial cost restraint in the industrial traction battery market are the significant upfront investment required to purchase these batteries. Industrial-grade traction batteries are designed for heavy-duty applications, such as forklifts and material handling equipment, necessitating robust construction and high power output. This results in higher manufacturing costs, which are passed on to consumers. Consequently, businesses may be deterred from investing in these batteries by opting for cheaper alternatives or delaying upgrades, despite their long-term efficiency and durability benefits. This cost barrier often requires careful consideration and financial planning by industrial operators before committing to such purchases.

Opportunity:

Expansion of E-commerce and warehousing

The expansion of e-commerce has led to a surge in demand for efficient warehousing solutions, driving the growth of the industrial traction battery market. These batteries power material handling equipment like forklifts and pallet jacks essential to warehouse operations. With the increasing need for faster order fulfillment and streamlined logistics in e-commerce, the demand for such batteries is projected to rise significantly. Additionally, the shift towards electric vehicles in various industries further amplifies this demand. This presents a lucrative opportunity for manufacturers and suppliers in the industrial traction battery market to capitalize on the evolving needs of the e-commerce and warehousing sectors.

Threat:

Competitive pressure

In the industrial traction battery market, competitive pressure is due to the intense rivalry among companies vying for market share. As demand for industrial batteries grows, so does the number of players entering the market, increasing competition. This competition manifests in aggressive pricing strategies, innovative product offerings, and marketing campaigns aimed at capturing customers. Additionally, established players may face threats from new entrants or disruptive technologies, further heightening competitive pressure. To thrive in such an environment, companies must continuously innovate, optimize production processes, and build strong customer relationships to withstand the challenges posed by competitive pressure.

Covid-19 Impact: 

The COVID-19 pandemic significantly impacted the industrial traction battery market. Initially, widespread lockdowns disrupted manufacturing operations and supply chains, leading to a slowdown in demand for industrial equipment and machinery powered by traction batteries. With many industries reducing or halting production, the need for replacement batteries has also decreased. However, as economies gradually reopened, there was a surge in demand for essential goods and services, prompting industries to ramp up operations again, thus boosting the need for industrial traction batteries. Additionally, the pandemic accelerated the adoption of automation and electric vehicles in warehouses and logistics, further driving demand for traction batteries with enhanced efficiency and sustainability features.

The lithium-ion segment is expected to be the largest during the forecast period

The growth of the lithium-ion segment in the industrial traction battery market can be attributed to the lithium-ion batteries offering for higher energy density and longer cycle life compared to traditional lead-acid batteries, making them more efficient and cost-effective for industrial applications. The increasing demand for electric vehicles and material handling equipment in industries such as manufacturing, warehousing, and logistics has driven the adoption of lithium-ion batteries due to their lighter weight and faster charging capabilities. Additionally, advancements in battery technology and declining prices of lithium-ion batteries have further fueled their adoption in the industrial sector. 

The electrical vehicle segment is expected to have the highest CAGR during the forecast period

The growth of the Electrical Vehicle (EV) segment within the Industrial Traction Battery market is driven by increasing environmental awareness and government regulations promoting cleaner transportation options and the adoption of electric vehicles across the globe. Additionally, advancements in battery technology, such as higher energy density and longer lifespans, have enhanced the feasibility and attractiveness of EVs to consumers and businesses alike. Moreover, the expanding infrastructure for charging stations is alleviating range anxiety, further boosting EV sales. As industries pivot towards sustainable practices, there's a growing demand for electric forklifts and other industrial vehicles, propelling the growth of the EV segment in the Industrial Traction Battery market.

Region with largest share:

The growth of the industrial traction battery market in North America can be attributed to the region’s heightened focus on sustainability and reducing carbon footprints, driving industries towards electric-powered equipment. Additionally, advancements in technology have improved the performance and efficiency of industrial traction batteries, making them more appealing to businesses. Moreover, government initiatives and incentives promoting the adoption of electric vehicles and machinery have spurred market growth. The increasing demand for electric forklifts, AGVs (Automated Guided Vehicles), and other industrial equipment further propels the expansion of the market in the region.

Region with highest CAGR:

The Asia-Pacific region has witnessed significant growth in the industrial traction battery market due to rapid industrialization and urbanization across countries like China, India, and Japan that have fueled the demand for electric material handling equipment, driving the need for industrial traction batteries. Additionally, stringent environmental regulations promoting clean energy solutions have encouraged industries to adopt electric-powered machinery, further boosting the market. Moreover, advancements in battery technology, such as improved energy density and a longer lifespan, have made electric-powered equipment more viable and cost-effective for industries in the region. 

Key players in the market

Some of the key players in Industrial Traction Battery market include A123 Systems LLC, BYD Company Limited, Contemporary Amperex Technology Co. Limited (CATL), EnerSys, Exide Technologies, GS Yuasa Corporation, Hitachi Chemical Co., Ltd., Johnson Controls International plc, Kokam Co., Ltd., Leoch International Technology Limited, LG Chem Ltd., Panasonic Corporation, Saft Group S.A., Samsung SDI Co., Ltd., Tesla, Inc., Toshiba Corporation and Trojan Battery Company.

Key Developments:

In April 2024, Tesla has inked a strategic agreement with Tata Electronics to acquire semiconductor chips for its global operations. This agreement, executed discreetly a few months ago, holds significance as it positions Tata Electronics as a supplier for top-tier global clients seeking to establish a pivotal segment of their semiconductor value chain within India. The EV major is eager to enter India, which stands as the world’s fastest-expanding automotive market.

In April 2024, Trojan Battery Company picked up the 2024 BCI Amplify Award for its public relations campaign to generate awareness for its new Trojan advanced energy storage (AES) AGM battery. It received the award at the centenary convention put on by Battery Council International (BCI) in Fort Lauderdale, Florida.

Products Covered:
• Lithium-ion 
• Nickel-based 
• Lead acid 
• Other Products  

Capacities Covered:
• 100-200Ah 
• 200-300Ah 
• 300-400Ah 
• 400Ah & above 

Applications Covered:
• Forklift
• Railroads
• Electrical vehicle
• Industrial
• Other Applications 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary        
         
2 Preface        
 2.1 Abstract       
 2.2 Stake Holders       
 2.3 Research Scope       
 2.4 Research Methodology       
  2.4.1 Data Mining      
  2.4.2 Data Analysis      
  2.4.3 Data Validation      
  2.4.4 Research Approach      
 2.5 Research Sources       
  2.5.1 Primary Research Sources      
  2.5.2 Secondary Research Sources      
  2.5.3 Assumptions      
         
3 Market Trend Analysis        
 3.1 Introduction       
 3.2 Drivers       
 3.3 Restraints       
 3.4 Opportunities       
 3.5 Threats       
 3.6 Product Analysis       
 3.7 Application Analysis       
 3.8 Emerging Markets       
 3.9 Impact of Covid-19       
         
4 Porters Five Force Analysis        
 4.1 Bargaining power of suppliers       
 4.2 Bargaining power of buyers       
 4.3 Threat of substitutes       
 4.4 Threat of new entrants       
 4.5 Competitive rivalry       
         
5 Global Industrial Traction Battery Market, By Product        
 5.1 Introduction       
 5.2 Lithium-ion       
 5.3 Nickel-based       
 5.4 Lead acid       
 5.5 Other Products       
         
6 Global Industrial Traction Battery Market, By Capacity        
 6.1 Introduction       
 6.2 100-200Ah       
 6.3 200-300Ah       
 6.4 300-400Ah       
 6.5 400Ah & above       
         
7 Global Industrial Traction Battery Market, By Application        
 7.1 Introduction       
 7.2 Forklift       
  7.2.1 Class 1      
  7.2.2 Class 2      
  7.2.3 Class 3      
 7.3 Railroads       
 7.4 Electrical vehicle       
 7.5 Industrial       
 7.6 Other Applications       
         
8 Global Industrial Traction Battery Market, By Geography        
 8.1 Introduction       
 8.2 North America       
  8.2.1 US      
  8.2.2 Canada      
  8.2.3 Mexico      
 8.3 Europe       
  8.3.1 Germany      
  8.3.2 UK      
  8.3.3 Italy      
  8.3.4 France      
  8.3.5 Spain      
  8.3.6 Rest of Europe      
 8.4 Asia Pacific       
  8.4.1 Japan      
  8.4.2 China      
  8.4.3 India      
  8.4.4 Australia      
  8.4.5 New Zealand      
  8.4.6 South Korea      
  8.4.7 Rest of Asia Pacific      
 8.5 South America       
  8.5.1 Argentina      
  8.5.2 Brazil      
  8.5.3 Chile      
  8.5.4 Rest of South America      
 8.6 Middle East & Africa       
  8.6.1 Saudi Arabia      
  8.6.2 UAE      
  8.6.3 Qatar      
  8.6.4 South Africa      
  8.6.5 Rest of Middle East & Africa      
         
9 Key Developments        
 9.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 9.2 Acquisitions & Mergers       
 9.3 New Product Launch       
 9.4 Expansions       
 9.5 Other Key Strategies       
         
10 Company Profiling        
 10.1 A123 Systems LLC       
 10.2 BYD Company Limited        
 10.3 Contemporary Amperex Technology Co. Limited (CATL)       
 10.4 EnerSys       
 10.5 Exide Technologies       
 10.6 GS Yuasa Corporation        
 10.7 Hitachi Chemical Co., Ltd.       
 10.8 Johnson Controls International plc       
 10.9 Kokam Co., Ltd.       
 10.10 Leoch International Technology Limited       
 10.11 LG Chem Ltd.       
 10.12 Panasonic Corporation        
 10.13 Saft Group S.A.       
 10.14 Samsung SDI Co., Ltd.        
 10.15 Tesla, Inc.       
 10.16 Toshiba Corporation        
 10.17 Trojan Battery Company       
         
List of Tables         
1 Global Industrial Traction Battery Market Outlook, By Region (2022-2030) ($MN)        
2 Global Industrial Traction Battery Market Outlook, By Product (2022-2030) ($MN)        
3 Global Industrial Traction Battery Market Outlook, By Lithium-ion (2022-2030) ($MN)        
4 Global Industrial Traction Battery Market Outlook, By Nickel-based (2022-2030) ($MN)        
5 Global Industrial Traction Battery Market Outlook, By Lead acid (2022-2030) ($MN)        
6 Global Industrial Traction Battery Market Outlook, By Other Products (2022-2030) ($MN)        
7 Global Industrial Traction Battery Market Outlook, By Capacity (2022-2030) ($MN)        
8 Global Industrial Traction Battery Market Outlook, By 100-200Ah (2022-2030) ($MN)        
9 Global Industrial Traction Battery Market Outlook, By 200-300Ah (2022-2030) ($MN)        
10 Global Industrial Traction Battery Market Outlook, By 300-400Ah (2022-2030) ($MN)        
11 Global Industrial Traction Battery Market Outlook, By 400Ah & above (2022-2030) ($MN)        
12 Global Industrial Traction Battery Market Outlook, By Application (2022-2030) ($MN)        
13 Global Industrial Traction Battery Market Outlook, By Forklift (2022-2030) ($MN)        
14 Global Industrial Traction Battery Market Outlook, By Class 1 (2022-2030) ($MN)        
15 Global Industrial Traction Battery Market Outlook, By Class 2 (2022-2030) ($MN)        
16 Global Industrial Traction Battery Market Outlook, By Class 3 (2022-2030) ($MN)        
17 Global Industrial Traction Battery Market Outlook, By Railroads (2022-2030) ($MN)        
18 Global Industrial Traction Battery Market Outlook, By Electrical vehicle (2022-2030) ($MN)        
19 Global Industrial Traction Battery Market Outlook, By Industrial (2022-2030) ($MN)        
20 Global Industrial Traction Battery Market Outlook, By Other Applications (2022-2030) ($MN)        
21 North America Industrial Traction Battery Market Outlook, By Country (2022-2030) ($MN)        
22 North America Industrial Traction Battery Market Outlook, By Product (2022-2030) ($MN)        
23 North America Industrial Traction Battery Market Outlook, By Lithium-ion (2022-2030) ($MN)        
24 North America Industrial Traction Battery Market Outlook, By Nickel-based (2022-2030) ($MN)        
25 North America Industrial Traction Battery Market Outlook, By Lead acid (2022-2030) ($MN)        
26 North America Industrial Traction Battery Market Outlook, By Other Products (2022-2030) ($MN)        
27 North America Industrial Traction Battery Market Outlook, By Capacity (2022-2030) ($MN)        
28 North America Industrial Traction Battery Market Outlook, By 100-200Ah (2022-2030) ($MN)        
29 North America Industrial Traction Battery Market Outlook, By 200-300Ah (2022-2030) ($MN)        
30 North America Industrial Traction Battery Market Outlook, By 300-400Ah (2022-2030) ($MN)        
31 North America Industrial Traction Battery Market Outlook, By 400Ah & above (2022-2030) ($MN)        
32 North America Industrial Traction Battery Market Outlook, By Application (2022-2030) ($MN)        
33 North America Industrial Traction Battery Market Outlook, By Forklift (2022-2030) ($MN)        
34 North America Industrial Traction Battery Market Outlook, By Class 1 (2022-2030) ($MN)        
35 North America Industrial Traction Battery Market Outlook, By Class 2 (2022-2030) ($MN)        
36 North America Industrial Traction Battery Market Outlook, By Class 3 (2022-2030) ($MN)        
37 North America Industrial Traction Battery Market Outlook, By Railroads (2022-2030) ($MN)        
38 North America Industrial Traction Battery Market Outlook, By Electrical vehicle (2022-2030) ($MN)        
39 North America Industrial Traction Battery Market Outlook, By Industrial (2022-2030) ($MN)        
40 North America Industrial Traction Battery Market Outlook, By Other Applications (2022-2030) ($MN)        
41 Europe Industrial Traction Battery Market Outlook, By Country (2022-2030) ($MN)        
42 Europe Industrial Traction Battery Market Outlook, By Product (2022-2030) ($MN)        
43 Europe Industrial Traction Battery Market Outlook, By Lithium-ion (2022-2030) ($MN)        
44 Europe Industrial Traction Battery Market Outlook, By Nickel-based (2022-2030) ($MN)        
45 Europe Industrial Traction Battery Market Outlook, By Lead acid (2022-2030) ($MN)        
46 Europe Industrial Traction Battery Market Outlook, By Other Products (2022-2030) ($MN)        
47 Europe Industrial Traction Battery Market Outlook, By Capacity (2022-2030) ($MN)        
48 Europe Industrial Traction Battery Market Outlook, By 100-200Ah (2022-2030) ($MN)        
49 Europe Industrial Traction Battery Market Outlook, By 200-300Ah (2022-2030) ($MN)        
50 Europe Industrial Traction Battery Market Outlook, By 300-400Ah (2022-2030) ($MN)        
51 Europe Industrial Traction Battery Market Outlook, By 400Ah & above (2022-2030) ($MN)        
52 Europe Industrial Traction Battery Market Outlook, By Application (2022-2030) ($MN)        
53 Europe Industrial Traction Battery Market Outlook, By Forklift (2022-2030) ($MN)        
54 Europe Industrial Traction Battery Market Outlook, By Class 1 (2022-2030) ($MN)        
55 Europe Industrial Traction Battery Market Outlook, By Class 2 (2022-2030) ($MN)        
56 Europe Industrial Traction Battery Market Outlook, By Class 3 (2022-2030) ($MN)        
57 Europe Industrial Traction Battery Market Outlook, By Railroads (2022-2030) ($MN)        
58 Europe Industrial Traction Battery Market Outlook, By Electrical vehicle (2022-2030) ($MN)        
59 Europe Industrial Traction Battery Market Outlook, By Industrial (2022-2030) ($MN)        
60 Europe Industrial Traction Battery Market Outlook, By Other Applications (2022-2030) ($MN)        
61 Asia Pacific Industrial Traction Battery Market Outlook, By Country (2022-2030) ($MN)        
62 Asia Pacific Industrial Traction Battery Market Outlook, By Product (2022-2030) ($MN)        
63 Asia Pacific Industrial Traction Battery Market Outlook, By Lithium-ion (2022-2030) ($MN)        
64 Asia Pacific Industrial Traction Battery Market Outlook, By Nickel-based (2022-2030) ($MN)        
65 Asia Pacific Industrial Traction Battery Market Outlook, By Lead acid (2022-2030) ($MN)        
66 Asia Pacific Industrial Traction Battery Market Outlook, By Other Products (2022-2030) ($MN)        
67 Asia Pacific Industrial Traction Battery Market Outlook, By Capacity (2022-2030) ($MN)        
68 Asia Pacific Industrial Traction Battery Market Outlook, By 100-200Ah (2022-2030) ($MN)        
69 Asia Pacific Industrial Traction Battery Market Outlook, By 200-300Ah (2022-2030) ($MN)        
70 Asia Pacific Industrial Traction Battery Market Outlook, By 300-400Ah (2022-2030) ($MN)        
71 Asia Pacific Industrial Traction Battery Market Outlook, By 400Ah & above (2022-2030) ($MN)        
72 Asia Pacific Industrial Traction Battery Market Outlook, By Application (2022-2030) ($MN)        
73 Asia Pacific Industrial Traction Battery Market Outlook, By Forklift (2022-2030) ($MN)        
74 Asia Pacific Industrial Traction Battery Market Outlook, By Class 1 (2022-2030) ($MN)        
75 Asia Pacific Industrial Traction Battery Market Outlook, By Class 2 (2022-2030) ($MN)        
76 Asia Pacific Industrial Traction Battery Market Outlook, By Class 3 (2022-2030) ($MN)        
77 Asia Pacific Industrial Traction Battery Market Outlook, By Railroads (2022-2030) ($MN)        
78 Asia Pacific Industrial Traction Battery Market Outlook, By Electrical vehicle (2022-2030) ($MN)        
79 Asia Pacific Industrial Traction Battery Market Outlook, By Industrial (2022-2030) ($MN)        
80 Asia Pacific Industrial Traction Battery Market Outlook, By Other Applications (2022-2030) ($MN)        
81 South America Industrial Traction Battery Market Outlook, By Country (2022-2030) ($MN)        
82 South America Industrial Traction Battery Market Outlook, By Product (2022-2030) ($MN)        
83 South America Industrial Traction Battery Market Outlook, By Lithium-ion (2022-2030) ($MN)        
84 South America Industrial Traction Battery Market Outlook, By Nickel-based (2022-2030) ($MN)        
85 South America Industrial Traction Battery Market Outlook, By Lead acid (2022-2030) ($MN)        
86 South America Industrial Traction Battery Market Outlook, By Other Products (2022-2030) ($MN)        
87 South America Industrial Traction Battery Market Outlook, By Capacity (2022-2030) ($MN)        
88 South America Industrial Traction Battery Market Outlook, By 100-200Ah (2022-2030) ($MN)        
89 South America Industrial Traction Battery Market Outlook, By 200-300Ah (2022-2030) ($MN)        
90 South America Industrial Traction Battery Market Outlook, By 300-400Ah (2022-2030) ($MN)        
91 South America Industrial Traction Battery Market Outlook, By 400Ah & above (2022-2030) ($MN)        
92 South America Industrial Traction Battery Market Outlook, By Application (2022-2030) ($MN)        
93 South America Industrial Traction Battery Market Outlook, By Forklift (2022-2030) ($MN)        
94 South America Industrial Traction Battery Market Outlook, By Class 1 (2022-2030) ($MN)        
95 South America Industrial Traction Battery Market Outlook, By Class 2 (2022-2030) ($MN)        
96 South America Industrial Traction Battery Market Outlook, By Class 3 (2022-2030) ($MN)        
97 South America Industrial Traction Battery Market Outlook, By Railroads (2022-2030) ($MN)        
98 South America Industrial Traction Battery Market Outlook, By Electrical vehicle (2022-2030) ($MN)        
99 South America Industrial Traction Battery Market Outlook, By Industrial (2022-2030) ($MN)        
100 South America Industrial Traction Battery Market Outlook, By Other Applications (2022-2030) ($MN)        
101 Middle East & Africa Industrial Traction Battery Market Outlook, By Country (2022-2030) ($MN)        
102 Middle East & Africa Industrial Traction Battery Market Outlook, By Product (2022-2030) ($MN)        
103 Middle East & Africa Industrial Traction Battery Market Outlook, By Lithium-ion (2022-2030) ($MN)        
104 Middle East & Africa Industrial Traction Battery Market Outlook, By Nickel-based (2022-2030) ($MN)        
105 Middle East & Africa Industrial Traction Battery Market Outlook, By Lead acid (2022-2030) ($MN)        
106 Middle East & Africa Industrial Traction Battery Market Outlook, By Other Products (2022-2030) ($MN)        
107 Middle East & Africa Industrial Traction Battery Market Outlook, By Capacity (2022-2030) ($MN)        
108 Middle East & Africa Industrial Traction Battery Market Outlook, By 100-200Ah (2022-2030) ($MN)        
109 Middle East & Africa Industrial Traction Battery Market Outlook, By 200-300Ah (2022-2030) ($MN)        
110 Middle East & Africa Industrial Traction Battery Market Outlook, By 300-400Ah (2022-2030) ($MN)        
111 Middle East & Africa Industrial Traction Battery Market Outlook, By 400Ah & above (2022-2030) ($MN)        
112 Middle East & Africa Industrial Traction Battery Market Outlook, By Application (2022-2030) ($MN)        
113 Middle East & Africa Industrial Traction Battery Market Outlook, By Forklift (2022-2030) ($MN)        
114 Middle East & Africa Industrial Traction Battery Market Outlook, By Class 1 (2022-2030) ($MN)        
115 Middle East & Africa Industrial Traction Battery Market Outlook, By Class 2 (2022-2030) ($MN)        
116 Middle East & Africa Industrial Traction Battery Market Outlook, By Class 3 (2022-2030) ($MN)        
117 Middle East & Africa Industrial Traction Battery Market Outlook, By Railroads (2022-2030) ($MN)        
118 Middle East & Africa Industrial Traction Battery Market Outlook, By Electrical vehicle (2022-2030) ($MN)        
119 Middle East & Africa Industrial Traction Battery Market Outlook, By Industrial (2022-2030) ($MN)        
120 Middle East & Africa Industrial Traction Battery Market Outlook, By Other Applications (2022-2030) ($MN)        

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

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Assured Quality

Assured Quality

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24X7 Research Support

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Free Customization

Free Customization

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Safe & Secure Access

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Trusted by 600+ Brands

Trusted by 600+ Brands

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