North America Lithium-ion Battery Market Report and Forecast 2024-2032

North America Lithium-Ion Battery Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the North America lithium-ion battery market is expected to grow at a CAGR of 11.5% between 2024 and 2032. Aided by the escalating demand for energy-efficient solutions and the expanding applications of lithium-ion batteries across diverse sectors, the market is expected to grow significantly by 2032.

Lithium-ion batteries are rechargeable batteries commonly used in electronics and electric vehicles due to their high energy density, tiny memory effect, and low self-discharge. They play a crucial role in the enhancement of energy storage, device performance, and overall lifespan. Beyond these core attributes, lithium-ion batteries also offer excellent potential in renewable integration, grid storage, and power management, solidifying their value across various industrial applications, including consumer electronics, electric vehicles, and energy storage systems.

The rising consumer preference for energy-efficient solutions is driving the North America lithium-ion battery market growth. With the growing awareness of the benefits linked to energy conservation, there has been a significant shift towards energy-efficient technologies, leading to a surge in demand for lithium-ion batteries. Furthermore, the increasing trend of electric mobility and the shift towards renewable energy have contributed to the rising popularity of lithium-ion batteries, as they are a vital element in electric vehicles and renewable integration systems.

The expanding applications of lithium-ion batteries in various sectors also significantly contribute to the increasing North America lithium-ion battery market demand. In the automotive industry, lithium-ion batteries are used as the power source for electric vehicles. The consumer electronics industry employs lithium-ion batteries due to their high energy density and long lifespan, which are crucial for devices like smartphones, laptops, and tablets. Moreover, the energy storage sector leverages lithium-ion batteries for their efficient storage capabilities, making them an essential component in grid storage and renewable integration systems.

Additionally, the growing demand for advanced energy storage systems in the renewable energy sector has resulted in an increased focus on lithium-ion batteries. With the rise of renewable energy adoption and the increasing need for efficient energy storage solutions, lithium-ion batteries have emerged as a critical component in the formulation of effective renewable integration systems, thereby fuelling the North America lithium-ion battery market growth.

Moreover, the advancements in technology and the constant pursuit of enhanced energy density and lifespan have led to substantial R&D activities in the lithium-ion battery sector. These technological advancements not only boost the performance of lithium-ion batteries but also their applicability across various sectors, further propelling the North America lithium-ion battery market development.

Market Segmentation

The market can be divided based on product type, power capacity, end use, and country.

Market Breakup by Product Type

• Lithium Cobalt Oxide
• Lithium Iron Phosphate
• Lithium Nickel Manganese Cobalt
• Lithium Manganese Oxide
• Others

Market Breakup by Power Capacity

• 0 to 3000 mAh
• 3000 mAh to 10000 mAh
• 10000 mAh to 60000 mAh
• More than 60000 mAh

Market Breakup by End Use

• Consumer Electronics
• Electric Vehicles
• Energy Storage
• Others

Market Breakup by Country

• United States of America
• Canada

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North America lithium-ion battery market. Some of the major players explored in the report by Expert Market Research are as follows:

• 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
• American Battery Solutions
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.