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US Electric Commercial Vehicle Battery Pack Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The US Electric Commercial Vehicle Battery Pack Market is segmented by Body Type (Bus, LCV, M&HDT), by Propulsion Type (BEV, PHEV), by Battery Chemistry (LFP, NCA, NCM, NMC, Others), by Capacity (15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh), by Battery Form (Cylindrical, Pouch, Prismatic), by Method (Laser, Wire), by Component (Anode, Cathode, Electrolyte, Separator) and by Material Type (Cobalt, Lithium, Manganese, Natural Graphite, Nickel). Market Size is represented by the total volume of EV battery packs sold, measured in kilowatt-hours (kWh), along with the Market Value in USD. Key data points observed include the total energy capacity of battery packs sold, expressed in kilowatt-hours (kWh), segmented by battery chemistry, the capacity range of each battery pack, and the specific application or vehicle type associated with each battery chemistry segment.

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US Electric Commercial Vehicle Battery Pack Market Size

US Electric Commercial Vehicle Battery Pack Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 6.93 Billion
svg icon Market Size (2029) USD 15.98 Billion
svg icon Largest Share by Propulsion Type BEV
svg icon CAGR (2024 - 2029) 18.18 %
svg icon Fastest Growing by Propulsion Type PHEV
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in alphabetical order.

Key Players

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US Electric Commercial Vehicle Battery Pack Market Analysis

The US Electric Commercial Vehicle Battery Pack Market size is estimated at 6.93 billion USD in 2024, and is expected to reach 15.98 billion USD by 2029, growing at a CAGR of 18.18% during the forecast period (2024-2029).

6.93 Billion

Market Size in 2024 (USD)

15.98 Billion

Market Size in 2029 (USD)

66.67 %

CAGR (2017-2023)

18.18 %

CAGR (2024-2029)

Largest Segment by Body Type

98.84 %

value share, LCV, 2023

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The largest segment in the US ECV battery pack market is LCVs with increasing demand for last-mile delivery and e-commerce companies.

Largest Segment by Propulsion Type

100 %

value share, BEV, 2023

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BEV holds a large majority of the US market for ECV battery packs with zero-emission status, lower running costs & government rules that support transportation options.

Largest Segment by Battery Chemistry

58.81 %

value share, NMC, 2023

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NMC batteries dominate the market because of their high safety, long cycle life, and low cost in United States Electric Commercial Vehicle Battery Pack Market.

Largest Segment by Battery Form

60.66 %

value share, Cylindrical, 2023

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Cylindrical batteries dominate the US ECV battery pack market due to their compact design, efficient space utilization, and enhanced performance and reliability.

Leading Market Player

40 %

market share, Tesla Inc., 2022

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Tesla has strong track record of developing and manufacturing high-quality battery cells and has partnered with major automakers including Tesla, BMW & Volkswagen.

The growing popularity of light electric commercial vehicles in the United States boosting the demand for battery packs

  • The adoption of electric commercial vehicles (ECVs) and their battery packs in the United States has been on a steady rise from 2017 to 2029. The increasing size and capacity of batteries have also remained key drivers behind this trend. Battery technology has made significant strides, resulting in more energy-dense packs with extended ranges. Moreover, declining battery costs have made ECVs more attractive and affordable for corporate fleet managers.
  • Government subsidies are playing a pivotal role in shaping the future of electric commercial vehicles in the United States. Major players like Amazon and UPS have unveiled plans to transition their delivery fleets to electric vehicles between the years 2024 and 2029. This move is expected to create a surge in demand for electric commercial vehicle battery packs. As concerns over greenhouse gas emissions grow, both businesses and consumers across the United States are increasingly prioritizing sustainable transportation options.
  • Electric buses are gaining traction, particularly in US cities with robust environmental policies. For instance, the Los Angeles Metro has set a target to fully transition to electric buses by 2030. Advancements in battery technology are poised to yield lighter and more efficient battery packs, potentially extending the range of electric commercial vehicles across the US market. Coupled with the declining battery costs and the expanding charging infrastructure, the popularity of electric commercial vehicles is projected to soar in the coming years nationwide.
US Electric Commercial Vehicle Battery Pack Market

US Electric Commercial Vehicle Battery Pack Market Trends

Tesla, Toyota, Ford, Hyundai, and Honda dominate the US electric vehicle battery pack market

  • The electric vehicle market is highly consolidated, with five major players, Tesla, Toyota Group, Ford Group, Hyundai, and Honda, accounting for almost 75% of the market in 2023. Tesla is the largest seller of electric vehicles in the United States, accounting for around 30% of the market. The company focuses on innovative technologies and has strong strategic partnerships with manufacturers of various EV components (such as batteries). Being a US-based company, it has a strong customer base with great product and service offerings across the United States.
  • Toyota Group is the second largest seller of electric vehicles, accounting for around 28% across the United States. The company has a strong supply and distribution network and operates as a reliable brand among customers with wide product offerings of various electric cars. The Ford Group holds 3rd place in EV sales across the United States, with around 10% of the market share. Being a domestic brand, the company has strong goodwill among customers with a wide product and service network in the United States.
  • Hyundai is the fourth-largest player, accounting for around 5.4% of the market share in EV sales across the United States. The company has a strong production and supply chain network, with wide innovative products offered at reasonable prices over other brands. Honda is the fifth-largest player in the EV market, maintaining its market share at around 5%. Other players selling EVs in the United States include Kia, Jeep, BMW, and Volvo.
US Electric Commercial Vehicle Battery Pack Market

Tesla maintains dominance, holding the majority share, and contributes to the major demand for battery packs in the United States

  • The United States is one of the most popular countries in North America, where the demand for EVs steadily increased during 2017-2023. The market for electric SUVs is steadily increasing as consumer preferences gradually move to a more sporty and adventurous drive and other benefits at a comparable price point as other EVs like sedans. SUVs offer more leg and headroom, which attracts customers as a comfortable ride is one of the main priorities.
  • In the US EV battery pack market, sales of the Tesla Model Y have grown significantly. The car attracts customers seeking an electric car with long-range, good seating capacity, and large cargo capacity. Companies offering electric sedans are also getting good responses from the US population. Tesla Model 3 was also among the best sellers in the US EV battery pack market in 2023, owing to its full electric technology, high-performance capabilities, fast charging technology, and good range offerings.
  • International brands also offer electric SUVs and sedans in the US EV battery pack market. Toyota RAV4 plug-in hybrid is one of the popular cars and witnessed good sales in 2023. A good service network, lower prices than other brands, and a reliable brand image are reasons for the growing sales of Toyota cars. Another good-selling car by Toyota in the US EV battery pack market is the Sienna, offered with a hybrid powertrain; consumers with big families looking for 7-seater cars have positively responded to the Toyota Sienna. Other vehicles competing in the US EV battery pack market include the Toyota Highlander, Jeep Wrangler, Toyota Camry, Honda Accord, and Ford Mustang Mach-E.
US Electric Commercial Vehicle Battery Pack Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • Government investments boost electrification of buses and the demand for bus battery packs in the United States
  • Decreasing battery pack prices and government initiatives drive the electric vehicle battery pack market in the United States
  • Declining battery prices transform electric mobility; this trend was expected to continue in 2023
  • Rising demand and strategic product launches drive the electric vehicle battery pack market in the United States
  • Growing demand for electric vehicles in the United States drives the usage of NMC, NCA, and LFP battery chemistries
  • Rising electric vehicle adoption in the United States drives the demand for battery materials, with NMC batteries dominating the market
  • Advancements in battery technology are driving the growth of electric vehicles in the United States

US Electric Commercial Vehicle Battery Pack Industry Overview

The US Electric Commercial Vehicle Battery Pack Market is fairly consolidated, with the top five companies occupying 76.24%. The major players in this market are BYD Company Ltd., Contemporary Amperex Technology Co. Ltd. (CATL), LG Energy Solution Ltd., Samsung SDI Co. Ltd. and Tesla Inc. (sorted alphabetically).

US Electric Commercial Vehicle Battery Pack Market Leaders

  1. BYD Company Ltd.

  2. Contemporary Amperex Technology Co. Ltd. (CATL)

  3. LG Energy Solution Ltd.

  4. Samsung SDI Co. Ltd.

  5. Tesla Inc.

US Electric Commercial Vehicle Battery Pack Market Concentration

Other important companies include Econtrols LLC, Envision AESC Japan Co. Ltd., Imperium3 New York (IM3NY), Panasonic Holdings Corporation, Proterra Operating Company Inc., Robert Bosch GmbH, SK Innovation Co. Ltd., XALT Energy.

*Disclaimer: Major Players sorted in alphabetical order.

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US Electric Commercial Vehicle Battery Pack Market News

  • February 2023: LG Energy Solution has been granted USD 237 million for the Honda battery plant project in Ohio, payable over the next 10 years, on top of approximately USD 156.3 million in tax incentives and infrastructure improvements.
  • September 2022: LG Energy Solution has announced a partnership with three Canadian suppliers, Snow Lake Resources Ltd, Electra Battery Materials Corporation, and Avalon Advanced Materials Inc., to boost the supply chain for EV batteries in North America.
  • August 2022: LG Energy Solutions and Honda Motor Co. announced a joint venture to produce electric vehicle batteries in the United States.

Free with this Report

Our comprehensive data set offers over 120 free charts, providing detailed regional and country-level insights into the EV battery pack industry. This includes analyses of distribution and production centers, variations in average selling prices (ASPs) across different regions, and a deep dive into industry trends like demand shifts and technological innovations. We also offer a thorough market segmentation, examining different battery chemistries, capacities, and form factors, alongside an in-depth understanding of market trends such as the adoption of advanced technologies and the impact of environmental regulations. Additionally, we provide an overview of major industry players, a look at the regulatory landscape, and market size analysis in terms of revenue and volume, all culminating in projections and forecasts that consider emerging trends and potential industry shifts.

US Electric Commercial Vehicle Battery Pack Market
US Electric Commercial Vehicle Battery Pack Market
US Electric Commercial Vehicle Battery Pack Market
US Electric Commercial Vehicle Battery Pack Market

US Electric Commercial Vehicle Battery Pack Market Report - Table of Contents

  1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. REPORT OFFERS

  3. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study​

    3. 1.3. Research Methodology

  4. 2. KEY INDUSTRY TRENDS

    1. 2.1. Electric Commercial Vehicle Sales

    2. 2.2. Electric Commercial Vehicle Sales By OEMs

    3. 2.3. Best-selling EV Models

    4. 2.4. OEMs With Preferable Battery Chemistry

    5. 2.5. Battery Pack Price

    6. 2.6. Battery Material Cost

    7. 2.7. Price Chart Of Different Battery Chemistry

    8. 2.8. Who Supply Whom

    9. 2.9. EV Battery Capacity And Efficiency

    10. 2.10. Number Of EV Models Launched

    11. 2.11. Regulatory Framework

      1. 2.11.1. US

    12. 2.12. Value Chain & Distribution Channel Analysis

  5. 3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 3.1. Body Type

      1. 3.1.1. Bus

      2. 3.1.2. LCV

      3. 3.1.3. M&HDT

    2. 3.2. Propulsion Type

      1. 3.2.1. BEV

      2. 3.2.2. PHEV

    3. 3.3. Battery Chemistry

      1. 3.3.1. LFP

      2. 3.3.2. NCA

      3. 3.3.3. NCM

      4. 3.3.4. NMC

      5. 3.3.5. Others

    4. 3.4. Capacity

      1. 3.4.1. 15 kWh to 40 kWh

      2. 3.4.2. 40 kWh to 80 kWh

      3. 3.4.3. Above 80 kWh

      4. 3.4.4. Less than 15 kWh

    5. 3.5. Battery Form

      1. 3.5.1. Cylindrical

      2. 3.5.2. Pouch

      3. 3.5.3. Prismatic

    6. 3.6. Method

      1. 3.6.1. Laser

      2. 3.6.2. Wire

    7. 3.7. Component

      1. 3.7.1. Anode

      2. 3.7.2. Cathode

      3. 3.7.3. Electrolyte

      4. 3.7.4. Separator

    8. 3.8. Material Type

      1. 3.8.1. Cobalt

      2. 3.8.2. Lithium

      3. 3.8.3. Manganese

      4. 3.8.4. Natural Graphite

      5. 3.8.5. Nickel

      6. 3.8.6. Other Materials

  6. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles

      1. 4.4.1. BYD Company Ltd.

      2. 4.4.2. Contemporary Amperex Technology Co. Ltd. (CATL)

      3. 4.4.3. Econtrols LLC

      4. 4.4.4. Envision AESC Japan Co. Ltd.

      5. 4.4.5. Imperium3 New York (IM3NY)

      6. 4.4.6. LG Energy Solution Ltd.

      7. 4.4.7. Panasonic Holdings Corporation

      8. 4.4.8. Proterra Operating Company Inc.

      9. 4.4.9. Robert Bosch GmbH

      10. 4.4.10. Samsung SDI Co. Ltd.

      11. 4.4.11. SK Innovation Co. Ltd.

      12. 4.4.12. Tesla Inc.

      13. 4.4.13. XALT Energy

  7. 5. KEY STRATEGIC QUESTIONS FOR EV BATTERY PACK CEOS

  8. 6. APPENDIX

    1. 6.1. Global Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter’s Five Forces Framework

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Market Dynamics (DROs)

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. ELECTRIC VEHICLE SALES, BY BODY TYPE, UNITS, US, 2017 - 2029
  1. Figure 2:  
  2. ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, US, 2023
  1. Figure 3:  
  2. ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, US, 2023
  1. Figure 4:  
  2. BEST-SELLING EV MODELS, UNITS, US, 2023
  1. Figure 5:  
  2. OEMS MARKET SHARE BY ELECTRIC VEHICLE BATTERY CHEMISTRY, VOLUME %, US, 2023
  1. Figure 6:  
  2. ELECTRIC VEHICLE BATTERY CELL AND PACK PRICE, USD, US, 2017 - 2029
  1. Figure 7:  
  2. ELECTRIC VEHICLE KEY BATTERY MATERIAL PRICE, BY MATERIAL, USD, US, 2017 - 2029
  1. Figure 8:  
  2. ELECTRIC VEHICLE BATTERY PRICE, BY BATTERY CHEMISTRY, USD, US, 2017 - 2029
  1. Figure 9:  
  2. EV BATTERY PACK CAPACITY AND EFFICIENCY, KM/KWH, US, 2023
  1. Figure 10:  
  2. UPCOMING EV MODELS, BY BODY TYPE, UNITS, US, 2023
  1. Figure 11:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, KWH, US, 2017 - 2029
  1. Figure 12:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, USD, US, 2017 - 2029
  1. Figure 13:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY BODY TYPE, KWH, US, 2017 - 2029
  1. Figure 14:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY BODY TYPE, USD, US, 2017 - 2029
  1. Figure 15:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VOLUME SHARE (%), US, 2022 & 2029
  1. Figure 16:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2022 & 2029
  1. Figure 17:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY BUS, KWH, US, 2017 - 2029
  1. Figure 18:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY BUS, USD, US, 2017 - 2029
  1. Figure 19:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 20:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY LCV, KWH, US, 2017 - 2029
  1. Figure 21:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY LCV, USD, US, 2017 - 2029
  1. Figure 22:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 23:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY M&HDT, KWH, US, 2017 - 2029
  1. Figure 24:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY M&HDT, USD, US, 2017 - 2029
  1. Figure 25:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 26:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY PROPULSION TYPE, KWH, US, 2017 - 2029
  1. Figure 27:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY PROPULSION TYPE, USD, US, 2017 - 2029
  1. Figure 28:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, PROPULSION TYPE, VOLUME SHARE (%), US, 2022 & 2029
  1. Figure 29:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), US, 2022 & 2029
  1. Figure 30:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY BEV, KWH, US, 2017 - 2029
  1. Figure 31:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY BEV, USD, US, 2017 - 2029
  1. Figure 32:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 33:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY PHEV, KWH, US, 2017 - 2029
  1. Figure 34:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY PHEV, USD, US, 2017 - 2029
  1. Figure 35:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 36:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY BATTERY CHEMISTRY, KWH, US, 2017 - 2029
  1. Figure 37:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY BATTERY CHEMISTRY, USD, US, 2017 - 2029
  1. Figure 38:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BATTERY CHEMISTRY, VOLUME SHARE (%), US, 2022 & 2029
  1. Figure 39:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BATTERY CHEMISTRY, VALUE SHARE (%), US, 2022 & 2029
  1. Figure 40:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY LFP, KWH, US, 2017 - 2029
  1. Figure 41:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY LFP, USD, US, 2017 - 2029
  1. Figure 42:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 43:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY NCA, KWH, US, 2017 - 2029
  1. Figure 44:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY NCA, USD, US, 2017 - 2029
  1. Figure 45:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 46:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY NCM, KWH, US, 2017 - 2029
  1. Figure 47:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY NCM, USD, US, 2017 - 2029
  1. Figure 48:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 49:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY NMC, KWH, US, 2017 - 2029
  1. Figure 50:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY NMC, USD, US, 2017 - 2029
  1. Figure 51:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 52:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY OTHERS, KWH, US, 2017 - 2029
  1. Figure 53:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY OTHERS, USD, US, 2017 - 2029
  1. Figure 54:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 55:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY CAPACITY, KWH, US, 2017 - 2029
  1. Figure 56:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY CAPACITY, USD, US, 2017 - 2029
  1. Figure 57:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, CAPACITY, VOLUME SHARE (%), US, 2022 & 2029
  1. Figure 58:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, CAPACITY, VALUE SHARE (%), US, 2022 & 2029
  1. Figure 59:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, KWH, US, 2017 - 2029
  1. Figure 60:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, USD, US, 2017 - 2029
  1. Figure 61:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 62:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, KWH, US, 2017 - 2029
  1. Figure 63:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, USD, US, 2017 - 2029
  1. Figure 64:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 65:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY ABOVE 80 KWH, KWH, US, 2017 - 2029
  1. Figure 66:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY ABOVE 80 KWH, USD, US, 2017 - 2029
  1. Figure 67:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 68:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY LESS THAN 15 KWH, KWH, US, 2017 - 2029
  1. Figure 69:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY LESS THAN 15 KWH, USD, US, 2017 - 2029
  1. Figure 70:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 71:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY BATTERY FORM, KWH, US, 2017 - 2029
  1. Figure 72:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY BATTERY FORM, USD, US, 2017 - 2029
  1. Figure 73:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BATTERY FORM, VOLUME SHARE (%), US, 2022 & 2029
  1. Figure 74:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BATTERY FORM, VALUE SHARE (%), US, 2022 & 2029
  1. Figure 75:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY CYLINDRICAL, KWH, US, 2017 - 2029
  1. Figure 76:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY CYLINDRICAL, USD, US, 2017 - 2029
  1. Figure 77:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 78:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY POUCH, KWH, US, 2017 - 2029
  1. Figure 79:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY POUCH, USD, US, 2017 - 2029
  1. Figure 80:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 81:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY PRISMATIC, KWH, US, 2017 - 2029
  1. Figure 82:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY PRISMATIC, USD, US, 2017 - 2029
  1. Figure 83:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 84:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY METHOD, KWH, US, 2017 - 2029
  1. Figure 85:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY METHOD, USD, US, 2017 - 2029
  1. Figure 86:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, METHOD, VOLUME SHARE (%), US, 2022 & 2029
  1. Figure 87:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, METHOD, VALUE SHARE (%), US, 2022 & 2029
  1. Figure 88:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY LASER, KWH, US, 2017 - 2029
  1. Figure 89:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY LASER, USD, US, 2017 - 2029
  1. Figure 90:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 91:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY WIRE, KWH, US, 2017 - 2029
  1. Figure 92:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY WIRE, USD, US, 2017 - 2029
  1. Figure 93:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 94:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY COMPONENT, UNITS, US, 2017 - 2029
  1. Figure 95:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY COMPONENT, USD, US, 2017 - 2029
  1. Figure 96:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, COMPONENT, VOLUME SHARE (%), US, 2022 & 2029
  1. Figure 97:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, COMPONENT, VALUE SHARE (%), US, 2022 & 2029
  1. Figure 98:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY ANODE, UNITS, US, 2017 - 2029
  1. Figure 99:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY ANODE, USD, US, 2017 - 2029
  1. Figure 100:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 101:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY CATHODE, UNITS, US, 2017 - 2029
  1. Figure 102:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY CATHODE, USD, US, 2017 - 2029
  1. Figure 103:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 104:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY ELECTROLYTE, UNITS, US, 2017 - 2029
  1. Figure 105:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY ELECTROLYTE, USD, US, 2017 - 2029
  1. Figure 106:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 107:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY SEPARATOR, UNITS, US, 2017 - 2029
  1. Figure 108:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY SEPARATOR, USD, US, 2017 - 2029
  1. Figure 109:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 110:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY MATERIAL TYPE, KG, US, 2017 - 2029
  1. Figure 111:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY MATERIAL TYPE, USD, US, 2017 - 2029
  1. Figure 112:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, MATERIAL TYPE, VOLUME SHARE (%), US, 2022 & 2029
  1. Figure 113:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, MATERIAL TYPE, VALUE SHARE (%), US, 2022 & 2029
  1. Figure 114:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY COBALT, KG, US, 2017 - 2029
  1. Figure 115:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY COBALT, USD, US, 2017 - 2029
  1. Figure 116:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 117:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY LITHIUM, KG, US, 2017 - 2029
  1. Figure 118:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY LITHIUM, USD, US, 2017 - 2029
  1. Figure 119:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 120:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY MANGANESE, KG, US, 2017 - 2029
  1. Figure 121:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY MANGANESE, USD, US, 2017 - 2029
  1. Figure 122:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 123:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY NATURAL GRAPHITE, KG, US, 2017 - 2029
  1. Figure 124:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY NATURAL GRAPHITE, USD, US, 2017 - 2029
  1. Figure 125:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 126:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY NICKEL, KG, US, 2017 - 2029
  1. Figure 127:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY NICKEL, USD, US, 2017 - 2029
  1. Figure 128:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 129:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY OTHER MATERIALS, KG, US, 2017 - 2029
  1. Figure 130:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BY OTHER MATERIALS, USD, US, 2017 - 2029
  1. Figure 131:  
  2. BREAKDOWN OF US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), US, 2017-2029
  1. Figure 132:  
  2. US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2020 - 2022
  1. Figure 133:  
  2. US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET, MOST ADOPTED STRATEGIES, 2020 - 2022
  1. Figure 134:  
  2. US ELECTRIC COMMERCIAL VEHICLE BATTERY PACK MARKET SHARE(%), BY MAJOR PLAYER REVENUE, 2023

US Electric Commercial Vehicle Battery Pack Industry Segmentation

Bus, LCV, M&HDT are covered as segments by Body Type. BEV, PHEV are covered as segments by Propulsion Type. LFP, NCA, NCM, NMC, Others are covered as segments by Battery Chemistry. 15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh are covered as segments by Capacity. Cylindrical, Pouch, Prismatic are covered as segments by Battery Form. Laser, Wire are covered as segments by Method. Anode, Cathode, Electrolyte, Separator are covered as segments by Component. Cobalt, Lithium, Manganese, Natural Graphite, Nickel are covered as segments by Material Type.

  • The adoption of electric commercial vehicles (ECVs) and their battery packs in the United States has been on a steady rise from 2017 to 2029. The increasing size and capacity of batteries have also remained key drivers behind this trend. Battery technology has made significant strides, resulting in more energy-dense packs with extended ranges. Moreover, declining battery costs have made ECVs more attractive and affordable for corporate fleet managers.
  • Government subsidies are playing a pivotal role in shaping the future of electric commercial vehicles in the United States. Major players like Amazon and UPS have unveiled plans to transition their delivery fleets to electric vehicles between the years 2024 and 2029. This move is expected to create a surge in demand for electric commercial vehicle battery packs. As concerns over greenhouse gas emissions grow, both businesses and consumers across the United States are increasingly prioritizing sustainable transportation options.
  • Electric buses are gaining traction, particularly in US cities with robust environmental policies. For instance, the Los Angeles Metro has set a target to fully transition to electric buses by 2030. Advancements in battery technology are poised to yield lighter and more efficient battery packs, potentially extending the range of electric commercial vehicles across the US market. Coupled with the declining battery costs and the expanding charging infrastructure, the popularity of electric commercial vehicles is projected to soar in the coming years nationwide.
Body Type
Bus
LCV
M&HDT
Propulsion Type
BEV
PHEV
Battery Chemistry
LFP
NCA
NCM
NMC
Others
Capacity
15 kWh to 40 kWh
40 kWh to 80 kWh
Above 80 kWh
Less than 15 kWh
Battery Form
Cylindrical
Pouch
Prismatic
Method
Laser
Wire
Component
Anode
Cathode
Electrolyte
Separator
Material Type
Cobalt
Lithium
Manganese
Natural Graphite
Nickel
Other Materials
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Market Definition

  • Battery Chemistry - Various types of battery chemistry considred under this segment include LFP, NCA, NCM, NMC, Others.
  • Battery Form - The types of battery forms offered under this segment include Cylindrical, Pouch and Prismatic.
  • Body Type - Body types considered under this segment include, LCV (light commercial vehicle), M&HDT (medium & heavy duty trucks)and buses.
  • Capacity - Various types of battery capacities inldude under theis segment are 15 kWH to 40 kWH, 40 kWh to 80 kWh, Above 80 kWh and Less than 15 kWh.
  • Component - Various components covered under this segment include anode, cathode, electrolyte, separator.
  • Material Type - Various material covered under this segment include cobalt, lithium, manganese, natural graphite, nickel, other material.
  • Method - The types of method covered under this segment include laser and wire.
  • Propulsion Type - Propulsion types considered under this segment include BEV (Battery electric vehicles), PHEV (plug-in hybrid electric vehicle).
  • ToC Type - ToC 2
  • Vehicle Type - Vehicle type considered under this segment include commercial vehicles with various EV powertrains.
Keyword Definition
Electric vehicle (EV) A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles.
PEV A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all electric vehicles as well as plug-electric vehicles as well as plug-in hybrids.
Battery-as-a-Service A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge
Battery Cell The basic unit of an electric vehicle's battery pack, typically a lithium-ion cell, that stores electrical energy.
Module A subsection of an EV battery pack, consisting of several cells grouped together, often used to facilitate manufacturing and maintenance.
Battery Management System (BMS) An electronic system that manages a rechargeable battery by protecting the battery from operating outside its safe operating area, monitoring its state, calculating secondary data, reporting data, controlling its environment, and balancing it.
Energy Density A measure of how much energy a battery cell can store in a given volume, usually expressed in watt-hours per liter (Wh/L).
Power Density The rate at which energy can be delivered by the battery, often measured in watts per kilogram (W/kg).
Cycle Life The number of complete charge-discharge cycles a battery can perform before its capacity falls under a specified percentage of its original capacity.
State of Charge (SOC) A measurement, expressed as a percentage, that represents the current level of charge in a battery compared to its capacity.
State of Health (SOH) An indicator of the overall condition of a battery, reflecting its current performance compared to when it was new.
Thermal Management System A system designed to maintain optimal operating temperatures for an EV's battery pack, often using cooling or heating methods.
Fast Charging A method of charging an EV battery at a much faster rate than standard charging, typically requiring specialized charging equipment.
Regenerative Braking A system in electric and hybrid vehicles that recovers energy normally lost during braking and stores it in the battery.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all its reports.

  • Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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US Electric Commercial Vehicle Battery Pack Market Research FAQs

The US Electric Commercial Vehicle Battery Pack Market size is expected to reach USD 6.93 billion in 2024 and grow at a CAGR of 18.18% to reach USD 15.98 billion by 2029.

In 2024, the US Electric Commercial Vehicle Battery Pack Market size is expected to reach USD 6.93 billion.

BYD Company Ltd., Contemporary Amperex Technology Co. Ltd. (CATL), LG Energy Solution Ltd., Samsung SDI Co. Ltd. and Tesla Inc. are the major companies operating in the US Electric Commercial Vehicle Battery Pack Market.

In the US Electric Commercial Vehicle Battery Pack Market, the BEV segment accounts for the largest share by propulsion type.

In 2024, the PHEV segment accounts for the fastest growing by propulsion type in the US Electric Commercial Vehicle Battery Pack Market.

In 2023, the US Electric Commercial Vehicle Battery Pack Market size was estimated at 6.93 billion. The report covers the US Electric Commercial Vehicle Battery Pack Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the US Electric Commercial Vehicle Battery Pack Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

US Electric Commercial Vehicle Battery Pack Industry Report

Statistics for the 2023 US Electric Commercial Vehicle Battery Pack market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Electric Commercial Vehicle Battery Pack analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

US Electric Commercial Vehicle Battery Pack Market Report Snapshots

US Electric Commercial Vehicle Battery Pack Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029