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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Lithium-ion Battery Market Growth
- Stable supply of lithium, cobalt, nickel, and graphite is crucial; dependence on imports from unstable regions can affect reliability.
- Increase local sourcing to reduce import dependency and enhance supply chain resilience.
- Expand capacity within North America to meet EV and renewable energy demand.
- Implement advanced technologies and automation to improve efficiency and reduce costs.
- Efficient networks ensure timely delivery of raw materials and finished batteries.
- Adhere to regulations to avoid legal and operational disruptions.
- Diversify sources to mitigate geopolitical risks and bottlenecks.
- Incorporate ethical sourcing and recycling programs to reduce environmental impact.
- Navigate policies and tariffs affecting cost and availability of imports.
- Build strong supplier relationships for reliable supply and innovation collaboration.
- Balance supply and demand to minimize storage costs and avoid shortages.
North America Lithium-ion Battery Market Report Snapshots
North America Lithium-ion Battery Market Size
North America Lithium-ion Battery Market Growth
North America Lithium-ion Battery Companies
North America Lithium-ion Battery Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the lithium-ion battery market in North America attained a value of nearly USD 16.19 billion.
The market is assessed to grow at a CAGR of 13.4% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a valuation of almost USD 50.20 billion by 2032.
The major market drivers are the growing automotive industry and the increase in the adoption of electric vehicles.
The key market trends include growing usage of lithium-ion batteries due to their safety, and increased adoption of end-use products featuring lithium-ion batteries.
The major countries in the market are the United States and Canada.
The various product types of lithium-ion batteries include lithium cobalt oxide, lithium iron phosphate, lithium nickel manganese cobalt, and lithium manganese oxide, among others.
The different power capacities of lithium-ion batteries include 0 to 3,000 mAh, 3,000 mAh to 10,000 mAh, 10,000 mAh to 60,000 mAh, and more than 60,000 mAh.
The different end-uses in the market for lithium-ion batteries include consumer electronics, electric vehicles, and energy storage, among others.
The prominent players in the North America lithium-ion battery market are Contemporary Amperex Technology Limited (CATL), LG Energy Solution, Panasonic Corporation, BYD Motors Inc., Tesla Inc., Samsung SDI Corporation Limited, Duracell Inc., Clarios, EnerSys, NEC Corporation, and American Battery Solutions, among others.
Significant costs associated with the production of lithium-ion batteries, reliance on imported raw materials, and potential risks associated with battery overheating, fires, and explosions are the challenges faced by the lithium-ion battery industry.
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124