Canada Battery Market Forecast 2022-2028

Canada Battery Market Forecast 2022-2028

KEY FINDINGS

The Canada battery market is estimated to register a CAGR of 18.13% over the forecasting years. The base year considered for the market study is 2021, and the forecast period is from 2022 to 2028. Some of the main factors accredited to the country’s market growth include the strategic initiatives undertaken by key players operating in the market, in addition to the increasing sales of consumer electronics.

MARKET INSIGHTS

POSCO Chemical, as well as General Motors (GM) 2022, announced the establishment of a cathode material joint venture in Quebec, Canada. The facility will generate the supply chain for leading battery materials in North America. Moreover, both companies, as a part of the joint venture, have proposed an investment of around $400 million in the first phase, from 2023. This would primarily aim to develop a large-scale joint plant in the country, particularly in Becancour, Quebec, and manufacture high nickel cathode materials utilized in General Motors’ electric vehicle batteries.

On the other hand, in 2022, Stellantis, a US-European automobile manufacturer, announced its partnership with LG Energy Solution. The collaboration intends to produce batteries for electric vehicles at a new plant in Canada. As a result, these developments are anticipated to further influence the growth of the battery market in Canada over the forecasted years.

COMPETITIVE INSIGHTS

The top firms operating in the market are CBC Crown Battery Canada, Surrette Battery Company Ltd, Canadian Energy Laval, etc.

Our report offerings include:
Explore key findings of the overall market
Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
Market Segmentation cater to a thorough assessment of key segments with their market estimations
Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments