Increasing Sale of Electric Vehicles all across the World to Foster the Growth of Traction Battery Market in Future
“ Global Traction Battery Market Analysis & Opportunity Outlook 2021 ” The global traction battery market is segmented into application such as electric car, hybrid car, heavy commercial vehicles, light commercial vehicles and others. Among these segments, electric car segment is expected to occupy the top position in the market. Increasing demand for electric vehicles in the world is expected to foster the growth of the traction battery market. Moreover, government initiatives to encourage the adoption of electric vehicle are likely to boost the demand for traction batteries in electric vehicle during the forecast period. Global traction battery market is expecte d to flourish at a robust CAGR over the forecast period. Moreover, the global traction battery market is projected to garner USD 56 Billion by the end of 2021. Rising demand for electric vehicles and increasing application in fork lifts and mobility scooter is expected to garner the growth of the traction battery ma...