The North America electric vehicle battery market size reached approximately USD 13.05 Billion in 2025. The market is further projected to grow at a CAGR of 21.10% between 2026 and 2035, reaching a value of USD 88.52 Billion by 2035.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
21.1%
Value in USD Billion
2026-2035
*this image is indicative*
Electric vehicle batteries refer to rechargeable batteries that are used for powering the electric motors in a hybrid electric vehicle or battery electric vehicle. These batteries are designed to provide high energy density and power to weight ratio. The batteries, through an electrochemical reaction, convert chemical energy to electrical energy.
The EMR’s report titled “North America Electric Vehicle Battery Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Battery Type
Market Breakup by Propulsion Type
Market Breakup by Vehicle Type
Market Breakup by Battery Capacity
Market Breakup by Region
Lithium-ion batteries are anticipated to account for a significant North America electric vehicle battery market share over the forecast period. This growth can be attributed to the high energy efficiency offered by the batteries, good-high temperature performance, and high power to weight ratio, among others. Additionally, most of the components of the batteries can be recycled, further bolstering their adoption.
Battery electric vehicles (BEV) is anticipated to witness significant growth in the coming future. This growth can be attributed to the growing efforts of major automobiles OEMs towards the reduction of greenhouse gas emissions. They are also investing towards the transformation of their product line-ups into environment friendly, clean, and green vehicles, boosting the North America electric vehicle battery market demand.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
BYD Company Ltd., headquartered in Shenzhen, China, is a motor vehicle manufacturing company that specialises in electric vehicle batteries, electric forklifts, LED lighting, electric vehicles, and energy storage, among others.
Panasonic Corporation is a multinational electronics company that was founded in 1918 and is headquartered in Osaka, Japan. The company is known for providing a wide range of integrated solutions across various sectors including energy and utilities and automotive, among others.
Hitachi, Ltd., headquartered in Tokyo, Japan, is an electronics and appliance manufacturing company that was founded in 1910. The company specialises in electric vehicle batteries, electronics systems and equipment, and automotive systems, among others.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other North America electric vehicle battery market key players include LG Energy Solution Ltd., Samsung SDI Co. Ltd., BorgWarner Inc., Toshiba Corporation, SK Inc., Electrovaya Inc., East Penn Manufacturing Co., and Clarios, LLC, among others.
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The market reached a value of approximately USD 13.05 Billion in 2025.
The market is projected to grow at a CAGR of 21.10% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach USD 88.52 Billion by 2035.
The major market drivers include increasing awareness about the various negative environmental effects associated with the utilisation of traditional fuel operating vehicles and rising initiatives to reduce greenhouse gas emissions.
The key trends fuelling the growth of the market include rising construction of charging stations and provision of incentives by the government to boost the manufacture of various components and parts of electric vehicles.
The major countries in the market are United States of America and Canada.
The propulsion types include battery electric vehicle (BEV), hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV).
The key players in the market are LG Energy Solution Ltd., Samsung SDI Co. Ltd., BYD Company Ltd., Panasonic Corporation, Hitachi, Ltd., BorgWarner Inc., Toshiba Corporation, SK Inc., Electrovaya Inc., East Penn Manufacturing Co., and Clarios, LLC, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Battery Type |
|
| Breakup by Propulsion Type |
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| Breakup by Vehicle Type |
|
| Breakup by Battery Capacity |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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