Bolt-On Industrial Traction Battery Market is Expected to grow at a robust CAGR of 8.83% through 2030F
The increasing global Bolt-On Industrial
Traction Battery market is driven by Shift Toward Lithium-Ion Dominance, Rise
of Automation and AGVs during the forecast period 2026-2030F.
According to TechSci Research report, “Bolt-On Industrial Traction Battery
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2020-2030F”, The Global Bolt-On Industrial
Traction Battery Market was valued at USD 4.42 Billion in 2024 and is expected
to reach USD 7.41 Billion by 2030 with a CAGR of 8.83% during the forecast
period. A key trend reshaping the market is the rapid transition from lead-acid
to lithium-ion chemistries. Lithium-ion batteries offer 3–4 times higher energy
density, enabling longer operation between charges. They also weigh 30–40%
less, reducing equipment strain and improving maneuverability. The lifecycle of
lithium-ion averages 4,000–5,000 cycles, compared to 1,200–1,500 cycles for
lead-acid, lowering replacement frequency by nearly 70%. Charging times are
also reduced by up to 80%, with fast-charging capabilities allowing partial
recharges during short breaks. By 2025, lithium-ion is expected to represent
more than 60% of new bolt-on battery installations, driven by cost reductions
and performance needs. As industries prioritize efficiency and sustainability,
the dominance of lithium-ion continues to expand, signaling a long-term
structural change in the market.
The growing use of automation and AGVs
in warehouses and logistics facilities is a strong trend boosting bolt-on
battery demand. In 2022 alone, global AGV sales increased by 35%, with over
250,000 units deployed worldwide. Each AGV requires high-performance traction
batteries capable of supporting continuous, multi-shift operations. Bolt-on
systems are ideal, as they allow quick swaps and minimize downtime. Warehouses
larger than 500,000 square feet now deploy fleets of hundreds of AGVs,
requiring sophisticated charging and energy management systems. The growth of
e-commerce has further fueled this demand, with online sales expanding by 20%
year-over-year in key markets, creating pressure for faster logistics cycles.
The integration of bolt-on batteries into AGV fleets ensures scalability,
modularity, and continuous uptime, making them central to warehouse automation
strategies.
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Bolt-On Industrial Traction Battery Market"
Based on chemistry, Nickel-Based
is the fastest growing segment in the global Bolt-On Industrial Traction
Battery market during the forecast period, due to their unique balance of
performance, cost, and durability. These batteries offer higher energy density
compared to lead-acid and enhanced thermal stability compared to certain
lithium chemistries, making them well-suited for heavy-duty industrial applications.
Nickel-Cadmium (Ni-Cd) and Nickel-Metal Hydride (Ni-MH) batteries are
particularly valued in sectors such as railways, mining, and material handling
where reliability and resilience under harsh conditions are critical. Their
ability to deliver consistent power output in extreme temperature ranges, from
-20°C to +50°C, gives them a competitive edge over alternatives that degrade in
performance outside optimal conditions.
Additionally, nickel-based batteries are known for
their long cycle life, often exceeding 2,000 charge-discharge cycles, lowering
total cost of ownership despite higher upfront investment. Their resistance to
deep discharge damage also enhances operational flexibility in industries that
rely on uninterrupted power delivery. As companies and governments intensify
their focus on decarbonization, nickel-based chemistries offer a transitional
solution by combining robustness and reduced environmental risks compared to
lead-acid technologies. Growing adoption in developing economies, where
equipment must endure fluctuating infrastructure conditions, is further fueling
demand. Moreover, advances in nickel-based chemistries are making them
increasingly competitive with lithium-ion in terms of performance and lifecycle
costs. This makes them a preferred option for end-users seeking a balance of
energy efficiency, resilience, and affordability in industrial traction
applications.
Based on region, Asia Pacific is the
fastest growing region in the Global Bolt-On Industrial Traction Battery Market
during the forecast period driven by rapid industrialization, expanding logistics
networks, and government-led clean energy initiatives. Countries like China,
India, Japan, and South Korea are witnessing a surge in demand for electric
forklifts, automated guided vehicles (AGVs), and battery-powered construction
and mining machinery. This trend is fueled by the booming e-commerce sector,
which demands efficient warehousing and logistics solutions powered by durable traction
batteries. For example, China alone accounts for more than 40% of global
forklift sales, creating massive opportunities for traction battery adoption.
Government policies in Asia Pacific are also central
to this growth. India’s “Make in India” initiative and China’s aggressive push
for electrification across industries are driving the replacement of
fossil-fuel-based industrial vehicles with battery-powered alternatives.
Furthermore, subsidies, tax incentives, and investments in charging
infrastructure are lowering entry barriers for battery adoption. The region
also holds a strategic advantage as a hub for raw material sourcing and battery
manufacturing. China dominates the global supply chain for nickel, lithium, and
cobalt, enabling cost-efficient battery production and faster technological
innovation.
In addition, Asia Pacific’s diverse climatic
conditions highlight the demand for versatile battery chemistries that can
operate effectively in extreme environments, driving the adoption of both
lithium-ion and nickel-based technologies. Urbanization and smart city projects
across the region are further accelerating electrification of material handling
equipment and transport systems. With its combination of strong policy support,
manufacturing capacity, and rising industrial activity, Asia Pacific is positioned
as the engine of global growth in the bolt-on industrial traction battery
market during the forecast period.
Key market players in the Global Bolt-On
Industrial Traction Battery market are: -
- Amara Raja Batteries Ltd.
- Aliant Battery
- BYD Co., Ltd.
- Camel Group Co., Ltd.
- ecovolta
- EnerSys
- Exide Industries
- Farasis Energy
- Guoxuan High-tech Power Energy Co., Ltd.
- HOPPECKE Batteries GmbH & Co. KG
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“The global bolt-on industrial traction battery market
presents opportunities in advancing high-capacity and fast-charging battery
technologies to meet industrial demands. Growth prospects lie in expanding
adoption of automation in warehouses, logistics, and mining, alongside the
electrification of heavy-duty vehicles. Emerging markets in Asia Pacific,
Africa, and Latin America provide untapped potential due to rapid
industrialization and infrastructure development. Furthermore, opportunities
exist in sustainable battery solutions, such as recyclable chemistries and
second-life applications, addressing environmental concerns. Companies
investing in localized manufacturing, energy-efficient systems, and integration
with renewable energy will gain a competitive edge in meeting rising global
demand for traction batteries.Top of Form” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based Global management consulting firm.
“Bolt-On
Industrial Traction Battery Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, Segmented By Chemistry (Lead-Acid, Lithium-Ion,
Nickel-Based, Others), By Capacity (Below 100 Ah, 100–200 Ah, 200–500 Ah, Above
500 Ah), By Application (Forklifts, Railroads, Others), By Region, and By
Competition, 2020-2030F,”
has evaluated the future growth potential of Global Bolt-On Industrial Traction
Battery Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Bolt-On Industrial
Traction Battery Market.
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