North America Lithium-ion Battery For Electric Vehicle Market Size (2024 - 2029)

North America Lithium-ion Battery for Electric Vehicle Market Analysis

The North America Lithium-ion Battery For Electric Vehicle Market size is estimated at USD 8.30 billion in 2024, and is expected to reach USD 19.10 billion by 2029, growing at a CAGR of 18.16% during the forecast period (2024-2029).

• Over the long term, declining lithium-ion battery prices and the growing usage of electric vehicles in the United States, Canada, and Mexico are expected to drive the growth of the market.
• On the other hand, the emerging alternative battery technologies and the demand-supply mismatch of raw materials are likely to affect the market's growth during the forecast period.
• Nevertheless, the adoption of solid-state lithium-ion batteries for electric vehicles in North American countries is anticipated to provide opportunities for the market’s growth.
• The United States is expected to dominate the market, with favorable government policies and increasing utilization of electric vehicles.

North America Lithium-ion Battery for Electric Vehicle Industry Segmentation

A lithium-ion battery for electric vehicles (EVs) is a type of rechargeable battery commonly used to power electric cars and other electric transportation. Known for its high energy density, long cycle life, and lightweight design, this battery technology enables efficient storage and delivery of electrical energy. Lithium-ion batteries consist of cells containing an anode, cathode, separator, and electrolyte. These batteries offer a high power-to-weight ratio, excellent energy efficiency, and reduced self-discharge compared to others, which make them a top choice for modern electric vehicles.

The North American lithium-ion battery for electric vehicle market is segmented into vehicle type, propulsion type, and geography. By vehicle type, the market is segmented into passenger vehicles, commercial vehicles, and others (bikes, scooters, etc.). By propulsion type (battery electric vehicle (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicle (PHEV). The report also covers the market size and forecasts for the lithium-ion battery for the electric vehicle market across major countries. The report offers the market size and forecasts for the revenue for all the above segments.