Strong Traction Battery Outlook Supported by Tianneng and Bater

Overview

The global traction batteries market is set for strong expansion, rising from USD 41.3 billion in 2024 to USD 108.1 billion by 2034 at a 10.1% CAGR. Asia Pacific remains the leading force, holding a 43.80% share valued at USD 18 billion, driven by rapid electrification and industrial mobility growth. Traction batteries serve as deep-cycle, high-endurance power units supporting electric vehicles, forklifts, warehouse equipment, and mobility platforms, ensuring steady torque and long discharge performance during continuous operation.

Market momentum is shaped by large financial movements and shifting investor confidence. Ample’s USD 330 million collapse influenced perceptions around battery-swapping models, while India’s EV space continued accelerating with Rs 1,400 crore raised YTD and start-ups crossing USD 2 billion funding in FY25. The UK’s proposed £1.3 billion EV grant scheme further signals aggressive investment-led expansion. Policy support adds additional lift, including grants of up to USD 50,000 for electric heavy vehicles and ARENA’s USD 21 million contribution to Australia’s EV transition.

Global capital inflows create new opportunities: Octopus EV’s £2 billion raise, Cariqa’s €4 million, Illinois’ USD 20 million charging round, Kenya’s USD 169 million, NYSERDA’s USD 7 million, and Somerset’s £3.78 million funding all strengthen the infrastructure and adoption pipeline for traction batteries worldwide.

Top Key Players in the Market

• Unik Batteries Pvt. Ltd.
• EXIDE INDUSTRIES LTD.
• Bater
• Microtex Energy Private Limited
• Yuki Electric India Pvt Ltd.
• UBT Batteries Pvt. Ltd.
• akkuteam Energietechnik GmbH
• Rico
• Tianneng

1. Unik Batteries Pvt. Ltd.

Unik Batteries Pvt. Ltd. is an industrial traction battery manufacturer serving forklifts, pallet trucks, golf carts, solar systems and utility equipment. The brand emphasises deep-cycle performance and long-life industrial power solutions. The company highlights three generations of management and over 50 years of team expertise, while offering industrial batteries suitable for material handling and energy applications.

Unik provides dedicated international and domestic contact channels for sales and enquiry support. Their traction battery portfolio includes lead-acid traction systems built for continuous-duty operations. The company’s presence is supported by structured contact information and industry-focused product listings on its official website.

2. EXIDE INDUSTRIES LTD.

Exide Industries Ltd. is one of India’s largest and most recognized battery manufacturers with strong participation in automotive, industrial and energy storage applications. The company maintains a comprehensive investor portal that hosts its statutory disclosures and integrated annual reports.

Exide identifies Mr. Avik Roy as Managing Director & CEO, with leadership details published through its official corporate governance pages. Financial and operational information is provided through its audited annual reports hosted on the official Exide documents domain.

3. Bater

Bater Ltd. is a Polish manufacturer specialising in traction and stationary industrial batteries. Established in 1990, the company produces traction batteries for electric forklifts and industrial trucks, and offers OPzS stationary batteries and related accessories.

Bater operates with two key locations: a dry-cell production plant in Gliwice and its headquarters and assembly facility in Warsaw. These manufacturing hubs support complete battery system production for industrial mobility and stationary power sectors.

4. Microtex Energy Private Limited

Microtex, founded in 1969 by Mr. Ambraith Govindan, is an established Indian battery manufacturer recognised for early innovations in separator technology. The company highlights its five-decade presence in the battery industry and promotes its product development milestones through official channels.

Microtex emphasises its legacy, R&D capabilities and manufacturing strengths through its corporate website. While leadership and revenue figures are not displayed publicly, available information confirms its long-standing operational history and specialized manufacturing presence in India.

5. Yuki Electric India Pvt Ltd.

Yuki Electric India Pvt Ltd focuses on lithium-ion solutions for EVs and solar applications. The brand, operating under Yukinova, lists its establishment year as 2021 and provides a registered address in Ghaziabad, Uttar Pradesh.

The company offers lithium-ion batteries for two-wheelers, solar systems, portable stations and traction use cases. Contact information and product-focused pages are openly accessible on its official digital platforms.

6. UBT Batteries Pvt. Ltd.

UBT Batteries Pvt. Ltd. (UPT branding) is an Indian manufacturer and service provider focusing on lead-acid battery distribution. Incorporated in 2007, the company highlights ISO 9001:2008 certification on its website and offers automotive battery solutions among other categories.

Its official site lists industrial area locations in Bangalore and provides a dedicated enquiry email. Revenue, founder and CEO information are not published, therefore excluded.

7. akkuteam Energietechnik GmbH

akkuteam Energietechnik GmbH is a German energy systems provider specializing in battery technologies, UPS systems, safety lighting and power generation solutions. Their competencies include project planning, maintenance and full-service energy system integration.

The company describes itself as owner-managed with over 70 employees and two operational sites in southern Lower Saxony. It provides nationwide service in Germany and international service for automotive applications.

8. RICO (Reliance Storage Energy & Systems Pvt. Ltd.)

RICO, established in 1979, is an ISO-certified Indian lead-acid battery manufacturer offering industrial, motive-power and EV traction batteries. Its traction product line includes 2V cells ranging from 60Ah to 1500Ah with compliance to IS and IEC standards.

Its official product pages detail battery specifications, manufacturing capabilities and multiple product formats used across logistics and mobility sectors.

9. Tianneng

Tianneng, founded in 1986, is a global-scale battery and energy technology company. Its India-facing website lists the brand as the No.1 lead-acid battery company in China and cites USD 11+ billion revenue for 2024 along with a “17th Global New Energy” ranking.

The company’s Hong Kong corporate site identifies Dr Zhang Tianren as Founder, Chairman and President, and details stock listings and production bases. It maintains multiple global operations across battery and energy-storage segments.

Conculsion

Traction batteries are a key enabler of electric mobility and industrial operations because they deliver steady power over long working cycles. They support vehicles and equipment that need reliable torque, frequent charging, and consistent performance under changing loads. As more industries shift toward electrified fleets and cleaner warehouse and transport systems, traction batteries remain central to improving efficiency and reducing dependence on traditional fuels.

Ongoing improvements in battery chemistry, durability, safety, and charging ecosystems are also making adoption easier across different use cases. Overall, traction batteries will continue to play a practical, long-term role in modern mobility and material handling.