United States Electric Vehicle Battery Manufacturing Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.32 Billion |
| Market Size (2029) | USD 1.30 Billion |
| CAGR (2024 - 2029) | 32.80 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
United States Electric Vehicle Battery Manufacturing Equipment Market Analysis
The United States Electric Vehicle Battery Manufacturing Equipment Market size is estimated at USD 0.32 billion in 2024, and is expected to reach USD 1.30 billion by 2029, at a CAGR of 32.80% during the forecast period (2024-2029).
- Over the medium term, government policies and investments towards battery manufacturing, and a decline in the cost of battery raw materials, especially lithium-ion, are expected to drive the market in the forecast period.
- On the other hand, competition from other established markets in Asia-Pacific region is expected to hamper the market in the future.
- Nevertheless, long-term ambitious targets for electric vehicles in the United States are expected to create a significant opportunity in the forecast period.
United States Electric Vehicle Battery Manufacturing Equipment Market Trends
Lithium-ion Battery is Expected to Have a Major Share
- Lithium-ion battery manufacturing equipment comprises specialized machines and tools tailored for lithium-ion battery production. In the United States, this equipment is pivotal for producing battery cells, modules, and packs. The United States is intensifying its focus on domestic battery production, aiming to bolster the electric vehicle (EV) market and energy storage solutions.
- Moreover, advancements in the domestic manufacturing equipment market are significantly driving down lithium-ion battery prices in the United States. As the demand for electric vehicles surges, achieving economies of scale has led to reduced production costs. Consequently, with decreasing lithium-ion battery prices, companies are ramping up investments in EV battery manufacturing, further fueling the demand for lithium-ion battery manufacturing equipment in the United States.
- In 2023, lithium-ion battery pack prices dropped by 14% from the previous year, settling at USD139/kWh. Beyond these price advantages, ongoing research and development efforts aim to create more effective lithium battery materials for electric vehicles, underscoring the growing need for advanced battery manufacturing equipment.
- Furthermore, fresh discoveries of lithium ore within the United States are spurring battery manufacturers to ramp up production of lithium batteries for electric vehicles. Such ambitions signal a burgeoning demand for battery manufacturing equipment in the foreseeable future.
- For example, in June 2024, ExxonMobil and SK On, a leading global electric vehicle battery developer, signed a non-binding memorandum of understanding. This sets the stage for a potential multiyear offtake agreement, enabling ExxonMobil to acquire up to 100,000 metric tons of MobilTM Lithium from its debut project in Arkansas. Moreover, ExxonMobil targets this lithium for the production of approximately 1 million EV batteries annually by 2030.
- Additionally, in November 2023, the United States government, under the Bipartisan Infrastructure Law, committed an investment of around USD 3.5 billion to enhance the production of advanced batteries and their materials. Such initiatives are poised to bolster domestic lithium-ion battery production, subsequently benefiting the equipment market in the coming years.
- Given these developments, the segment is anticipated to command a substantial share in the market under study.
Government Policies and Investments Towards Battery Manufacturing is Expected to Drive the Market
- Government policy and investment in battery production are critical drivers of the U.S. EV battery manufacturing equipment market. Federal and state initiatives, such as grants, subsidies, and tax incentives, encourage the development and expansion of battery manufacturing facilities.
- For instance, in January 2024, the U.S. Department of Energy announced USD 131 million in funding for projects to advance research and development in EV batteries and charging systems. The funding will empower the EV ecosystem to lower technology costs, extend the driving range of battery vehicles, and establish a secure and sustainable domestic battery supply chain.
- These financial supports lower the initial costs for companies investing in advanced equipment, making it more feasible to establish and scale up production. Such policies promoting research and development, such as funding from the Department of Energy (DOE), spur innovation in battery technologies and manufacturing processes.
- Increasing electric vehicle sales in the country is expected to encourage the government to launch more policies that drive the demand for battery manufacturing equipment in the country. According to the International Energy Agency, in 2023, total EV car sales in the United States accounted for 1.39 million units, up from 0.99 million units in 2022.
- Further, with government support, battery manufacturing companies are investing in developing new EV manufacturing plants, which is expected to surge the demand for EV battery manufacturing equipment in the country.
- For instance, in May 2023, SK and Hyundai Motor Group greenlit plans for a joint venture in Georgia, signaling SK's deepening involvement in shaping the future of U.S. automotive technology. The venture, set to invest USD 5 billion, will establish an EV battery cell plant in Bartow County, Georgia.
- Thus, owing to the recent developments and increasing EV sales, government policies and investments in battery manufacturing are expected to drive the Market.
United States Electric Vehicle Battery Manufacturing Equipment Industry Overview
The United States electric vehicle battery manufacturing equipment market is semi-fragmented. Some of the major players in the market (in no particular order) include Manz AG, Schuler AG, Hitachi Ltd, Rosendahl Nextrom GmbH, and Targray Technology International Inc, among others.
United States Electric Vehicle Battery Manufacturing Equipment Market Leaders
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Manz AG
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Schuler AG
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Hitachi Ltd
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Rosendahl Nextrom GmbH
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Targray Technology International Inc
*Disclaimer: Major Players sorted in no particular order
United States Electric Vehicle Battery Manufacturing Equipment Market News
- March 2024: American Battery Factory Inc., a pioneering battery manufacturer, is spearheading the establishment of the first network of lithium iron phosphate battery cell gigafactories in the United States, catering to EVs and other applications. In a strategic move, ABF has partnered with Lead Intelligent Equipment to source specialized automation equipment and machinery. This equipment will be utilized in ABF's inaugural gigafactory, situated in Tucson, Arizona, and designed with an impressive capacity of up to 20GWh.
- March 2023: LG Energy Solution revealed its intention to invest approximately USD 5.5 billion in establishing a battery manufacturing hub in Queen Creek, Arizona. The hub will feature two separate manufacturing units: one will produce cylindrical batteries specifically for electric vehicles, while the other will concentrate on lithium-iron phosphate pouch-type batteries intended for energy storage systems.
United States Electric Vehicle Battery Manufacturing Equipment Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Government Policies and Investments Towards Battery Manufacturing
4.5.1.2 Decline in Cost of Battery Raw Materials
4.5.2 Restraints
4.5.2.1 Competition from Established Market
4.6 Supply Chain Analysis
4.7 PESTLE ANALYSIS
4.8 Investment Analysis
5. MARKET SEGMENTATION
5.1 Process
5.1.1 Mixing
5.1.2 Coating
5.1.3 Calendering
5.1.4 Slitting and Electrode Making
5.1.5 Other Process
5.2 Battery
5.2.1 Lithium-ion
5.2.2 Lead-Acid
5.2.3 Nickel Metal Hydride Battery
5.2.4 Others
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Manz AG
6.3.2 Rosendahl Nextrom GmbH
6.3.3 Schuler AG
6.3.4 Hitachi Ltd
6.3.5 Targray Technology International Inc
6.3.6 Xiamen Acey New Energy Technology Co .,Ltd
6.3.7 Xiamen TOB New Energy Technology Co.,Ltd.
6.3.8 DAIICHI JITSUGYO (AMERICA), INC.
6.3.9 Sovema Group
- *List Not Exhaustive
6.4 List of Other Prominent Companies
6.5 Market Ranking Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Long-term Ambitious Targets for Electric Vehicles
United States Electric Vehicle Battery Manufacturing Equipment Industry Segmentation
Electric vehicle battery manufacturing equipment refers to the specialized machinery and tools used in the production of electric vehicle batteries. This equipment is designed to handle the various stages of battery production, including the preparation of raw materials, assembly of battery cells, modules, and packs, and quality control and testing.
The United States electric vehicle battery manufacturing equipment market is segmented by process and battery type. By process, the market is segmented into mixing, coating, calendering, slitting and electrode making, and other processes. By battery, the market is segmented into lithium-ion, lead-acid, nickel metal hydride battery, and others. For each segment, the market sizing and forecasts have been done based on revenue (USD).
| Process | |
| Mixing | |
| Coating | |
| Calendering | |
| Slitting and Electrode Making | |
| Other Process |
| Battery | |
| Lithium-ion | |
| Lead-Acid | |
| Nickel Metal Hydride Battery | |
| Others |
United States Electric Vehicle Battery Manufacturing Equipment Market Research Faqs
How big is the United States Electric Vehicle Battery Manufacturing Equipment Market?
The United States Electric Vehicle Battery Manufacturing Equipment Market size is expected to reach USD 0.32 billion in 2024 and grow at a CAGR of 32.80% to reach USD 1.30 billion by 2029.
What is the current United States Electric Vehicle Battery Manufacturing Equipment Market size?
In 2024, the United States Electric Vehicle Battery Manufacturing Equipment Market size is expected to reach USD 0.32 billion.
Who are the key players in United States Electric Vehicle Battery Manufacturing Equipment Market?
Manz AG, Schuler AG, Hitachi Ltd, Rosendahl Nextrom GmbH and Targray Technology International Inc are the major companies operating in the United States Electric Vehicle Battery Manufacturing Equipment Market.
What years does this United States Electric Vehicle Battery Manufacturing Equipment Market cover, and what was the market size in 2023?
In 2023, the United States Electric Vehicle Battery Manufacturing Equipment Market size was estimated at USD 0.22 billion. The report covers the United States Electric Vehicle Battery Manufacturing Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Electric Vehicle Battery Manufacturing Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Electric Vehicle Battery Manufacturing Equipment Industry Report
Statistics for the 2024 United States Electric Vehicle Battery Manufacturing Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Electric Vehicle Battery Manufacturing Equipment analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
