Europe Industrial Traction Battery Market Demand, Trends Analysis and Outlook 2034
Europe Industrial Traction Battery Market Size- By Chemistry, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Aug-2025 | Report ID: POAE25140 | Pages: 1 - 160 | Formats*: |
| Category : Power & Energy | |||
Europe Industrial Traction Battery Market Introduction and Overview
According to SPER Market Research, the Europe Industrial Traction Battery Market is estimated to reach USD 1709.58 million by 2034 with a CAGR of 14.68%.
The report includes an in-depth analysis of the Europe Industrial Traction Battery Market, including market size and trends, product mix, Applications, and supplier analysis. The Europe Industrial Traction Battery Market was valued at USD 434.52 million in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 14.68% between 2025 and 2034. Growth is largely fueled by rising demand for electric vehicles (EVs) and the push for sustainable energy solutions. The market is evolving with key trends, including rapid EV adoption, especially in certain regions, which is boosting the need for advanced battery technologies. Lithium-ion batteries are gaining traction due to their high energy density and efficiency. Increased collaboration among industry players and strong government support for clean energy initiatives are further accelerating innovation and shaping the market’s development.
By chemistry Insights:
Lithium-ion batteries lead the chemistry segment, driven by their high energy density, long cycle life, and improved safety features. Growing demand for electric vehicles, supported by the European Union’s focus on reducing emissions, has further accelerated their adoption. Ongoing technological advancements and favorable government policies have enhanced the performance, safety, and affordability of lithium-ion batteries. These combined factors contribute to the segment’s strong market presence, as industries increasingly shift toward cleaner, more efficient energy solutions to meet sustainability goals.
By Application Insights:
The forklift segment is expected to see strong growth in Europe’s industrial traction battery market, driven by its widespread use across industries such as manufacturing, warehousing, and logistics. The shift from internal combustion engine (ICE) forklifts to electric alternatives is gaining momentum due to lower operating costs, improved efficiency, and reduced emissions. Stricter government regulations targeting carbon emissions in material handling are also encouraging adoption. These factors are positioning the forklift segment for continued expansion as industries focus on sustainability and compliance.
Regional Insights
Germany holds the largest share in the market, driven by several key factors contributing to its leadership. As Europe’s top automotive hub, Germany emphasizes innovation and sustainability, fueling demand for advanced battery technologies. The country also has a strong renewable energy sector, particularly in solar and wind power. Government initiatives further support clean energy and electric vehicle adoption.
Market Competitive Landscape
The Europe Industrial Traction Battery Market is moderately fragmented. Some key players are- Amara Raja Batteries Ltd., Ecovolta, ENERSYS, Exide Industries Ltd., GS Yuasa Corporation, Hitachi Energy Ltd., HOPPECKE Batteries GmbH & Co. KG, Johnson Controls International plc, MIDAC S.p.A., Mutlu Corporation, Northvolt, Robert Bosch GmbH, Toshiba Corporation, Volkswagen AG.
Recent Developments:
- In August 2022, Samsung SDI announced a USD 1.48 billion investment to expand its EV battery plant in Hungary, aiming to boost capacity by 70-80% to 60GWh annually.
- In January 2022, Amara Raja announced plans to invest in InoBat Auto, a European firm focused on developing advanced batteries for electric mobility. The investment aims to leverage InoBat’s cutting-edge technology and manufacturing expertise in EV battery production.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Chemistry, By Application |
| Regions covered | France, Germany, Italy, Spain, United Kingdom Rest of Europe |
| Companies Covered | Amara Raja Batteries Ltd., Ecovolta, ENERSYS, Exide Industries Ltd., GS Yuasa Corporation, Hitachi Energy Ltd., HOPPECKE Batteries GmbH & Co. KG, Johnson Controls International plc, MIDAC S.p.A., Mutlu Corporation, Northvolt, Robert Bosch GmbH, Toshiba Corporation, Volkswagen AG. |
Key Topics Covered in the Report
- Europe Industrial Traction Battery Market Size (FY’2021-FY’2034)
- Overview of Europe Industrial Traction Battery Market
- Segmentation of Europe Industrial Traction Battery Market By Chemistry (Lead Acid, Lithium-Ion, Nickel-Based, Others)
- Segmentation of Europe Industrial Traction Battery Market By Application (Forklift, Others)
- Statistical Snap of Europe Industrial Traction Battery Market
- Expansion Analysis of Europe Industrial Traction Battery Market
- Problems and Obstacles in Europe Industrial Traction Battery Market
- Competitive Landscape in the Europe Industrial Traction Battery Market
- Details on Current Investment in Europe Industrial Traction Battery Market
- Competitive Analysis of Europe Industrial Traction Battery Market
- Prominent Players in the Europe Industrial Traction Battery Market
- SWOT Analysis of Europe Industrial Traction Battery Market
- Europe Industrial Traction Battery Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPERs internal database
- 2.1.4. Premium insight from KOLs
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTERs Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. Europe Industrial Traction Battery Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Industrial Traction Battery Market
7. Europe Industrial Traction Battery Market, By Chemistry (USD Million) 2021-2034
- 7.1. Lead Acid
- 7.2. Lithium-Ion
- 7.3. Nickel-Based
- 7.4. Others
8. Europe Industrial Traction Battery Market, By Application (USD Million) 2021-2034
- 8.1. Forklift
- 8.1.1. Class 1
- 8.1.2. Class 2
- 8.1.3. Class 3
- 8.1.4. Railroads
- 8.2. Others
9. Europe Industrial Traction Battery Market, (USD Million) 2021-2034
- 9.1. Europe Industrial Traction Battery Market Size and Market Share
10. Europe Industrial Traction Battery Market, By Region, (USD Million) 2021-2034
- 10.1. France
- 10.2. Germany
- 10.3. Italy
- 10.4. Spain
- 10.5. United Kingdom
- 10.6. Rest of Europe
11. Company Profile
- 11.1. Amara Raja Batteries Ltd.
- 11.1.1. Company details
- 11.1.2. Financial outlook
- 11.1.3. Product summary
- 11.1.4. Recent developments
- 11.2. Ecovolta
- 11.2.1. Company details
- 11.2.2. Financial outlook
- 11.2.3.Product summary
- 11.2.4. Recent developments
- 11.3. ENERSYS
- 11.3.1. Company details
- 11.3.2. Financial outlook
- 11.3.3. Product summary
- 11.3.4. Recent developments
- 11.4. Exide Industries Ltd.
- 11.4.1. Company details
- 11.4.2. Financial outlook
- 11.4.3. Product summary
- 11.4.4. Recent developments
- 11.5. GS Yuasa Corporation
- 11.5.1. Company details
- 11.5.2. Financial outlook
- 11.5.3. Product summary
- 11.5.4. Recent developments
- 11.6. Hitachi Energy Ltd.
- 11.6.1. Company details
- 11.6.2. Financial outlook
- 11.6.3. Product summary
- 11.6.4. Recent developments
- 11.7. HOPPECKE Batteries GmbH & Co. KG
- 11.7.1. Company details
- 11.7.2. Financial outlook
- 11.7.3. Product summary
- 11.7.4. Recent developments
- 11.8. Johnson Controls International plc
- 11.8.1. Company details
- 11.8.2. Financial outlook
- 11.8.3. Product summary
- 11.8.4. Recent developments
- 11.9. MIDAC S.p.A.
- 11.9.1. Company details
- 11.9.2. Financial outlook
- 11.9.3. Product summary
- 11.9.4. Recent developments
- 11.10. Mutlu Corporation
- 11.10.1. Company details
- 11.10.2. Financial outlook
- 11.10.3. Product summary
- 11.10.4. Recent developments
- 11.11. Northvolt
- 11.11.1. Company details
- 11.11.2. Financial outlook
- 11.11.3. Product summary
- 11.11.4. Recent developments
- 11.12. Robert Bosch GmbH
- 11.12.1. Company details
- 11.12.2. Financial outlook
- 11.12.3. Product summary
- 11.12.4. Recent developments
- 11.13. Toshiba Corporation
- 11.13.1. Company details
- 11.13.2. Financial outlook
- 11.13.3. Product summary
- 11.13.4. Recent developments
- 11.14. Volkswagen AG
- 11.14.1. Company details
- 11.14.2. Financial outlook
- 11.14.3. Product summary
- 11.14.4. Recent developments
- 11.15. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Europe Industrial Traction Battery Market is projected to reach USD 1709.58 million by 2034, growing at a CAGR of 14.68% during the forecast period.
Europe Industrial Traction Battery Market grew in Market size from 2025. The Market is expected to reach USD 1709.58 million by 2034, at a CAGR of 14.68% during the forecast period.
Europe Industrial Traction Battery Market CAGR of 14.68% during the forecast period.
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Europe Industrial Traction Battery Market size is USD 1709.58 million from 2025 to 2034.
Europe Industrial Traction Battery Market is covered By Chemistry, By Application
Germany is anticipated to have the highest Market share in the Europe Industrial Traction Battery Market.
Amara Raja Batteries Ltd., Ecovolta, ENERSYS, Exide Industries Ltd., GS Yuasa Corporation, Hitachi Energy Ltd., HOPPECKE Batteries GmbH & Co. KG, Johnson Controls International plc, MIDAC S.p.A., Mutlu Corporation, Northvolt, Robert Bosch GmbH, Toshiba Corporation, Volkswagen AG.
The report includes an in-depth analysis of the Europe Industrial Traction Battery Market, including market size and trends, product mix, Applications, and supplier analysis
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