Report Code: A12829 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Transportation Battery Market
Request Now !A transportation battery is an electric battery used in all electric vehicles. Transportation batteries rely solely on the chemical energy stored in rechargeable battery packs and do not require a secondary source of propulsion (hydrogen fuel cell, internal combustion engine, and others). The development and commercialization of energy storage technology will have a significant impact on the power system, because of rapid development and expansion from small scale towards large scale. Several countries including the U.S., Japan, and the European Union have proposed policies to promote and support development through the use of   energy storage technology. Transportation batteries are durable for more than 10 years. It has a wide range of applications including rail, electric bus, electric trucks, electric vans, electric cars, electric motorcycles, scooters, and rickshaws.
COVID-19 Impact Analysis
Top Impacting Factors
The growing integration of electronics as well as the rising demand for transportation are the driving factors for the transportation battery market. Furthermore, fuel savings & government incentives for cleaner transportation are important factors that can boost the growth of the transportation battery market. Moreover, the introduction and innovation of new hybrid & electric automotive models from OEMs are expected to capture the transportation battery market which can serve as a stepping stone for market growth. However, a lack of developed support infrastructure for EVs can be the restraining factor for the market. Battery safety concerns are an emerging thread that must be addressed for the market. Growing demand for hybrids & EVs, as well as R&D in hybrid & EVs. batteries, are some of the opportunities. A high initial investment cost, a limited range of availability and fluctuating oil prices are some of the challenging areas for the transportation battery market.
Market Trends
Key Benefits of the Report
Transportation Battery Market Report Highlights
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