North America Lithium-Ion Battery Market Growth, Size, Trends, Demand and Future Outlook
North America Lithium-Ion Battery Market Size- By Product Type, By Power Capacity, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2024 | Report ID: POAE2437 | Pages: 1 - 158 | Formats*: |
| Category : Power & Energy | |||
North America Lithium-Ion Battery Market Introduction and Overview
According to SPER Market Research, the North America Lithium-Ion Battery Market is estimated to reach USD 91.36 billion by 2033 with a CAGR of 17.38%.
The report includes an in-depth analysis of the North America Lithium-Ion Battery Market, including market size and trends, product mix, distribution channels, and supplier analysis. Batteries that have a high energy density and are rechargeable are known as lithium-ion, or Li-ion batteries. One kilogram of lithium-ion battery can store 150 watt-hours of electricity on average. It is not necessary to discharge these batteries before recharging because they do not have a memory effect. Since these low maintenance batteries have a far lower self-discharge than nickel-cadmium batteries, they are perfect for use in contemporary fuel gauge applications. Other than this, Li-ion batteries have a wide range of uses, such as power sources for computers, mobile devices, and cars.
- In February 2023, Ascend Elements, an American company that specializes in battery recycling and engineered materials, announced that it has reached a basic agreement with Honda Motor Co. Ltd. to work together on the stable procurement of recycled lithium-ion battery materials for Honda electric vehicles in North America. This initiative is anticipated to lower the carbon footprint of electric vehicles.
- January 2023: Solid-state lithium-ion batteries with outputs ranging from 330 W to 4,000 W are being developed by American battery maker Yoshino Technology. These batteries are intended for use as home backup, in off-grid situations, and to power small industrial gear. Solar panels can be utilized in conjunction with the system. The 4,000 W power plant can produce up to 6000 W of peak output and 2,611 Wh of capacity. It takes 5.5 hours for a 600 W solar panel to fully recharge.
Market Opportunities and Challenges
Opportunities: There are various factors driving the lithium-ion battery market in North America at the moment. The demand for lithium-ion battery-powered electric and hybrid vehicles is rising in the area. In addition, the rising demand for these batteries has been fueled by the region's growing sales of consumer electronics. In addition, the advantage of having additional power storage capacity during peak electricity consumption periods is another factor driving the need for lithium-ion batteries. Furthermore, the region's fast increase in the production of renewable energy, particularly solar and wind energy, has made grid energy storage necessary. Additionally, people now rely on electronic devices like laptops, tablets, and smartphones for everyday tasks like communication.
Challenges: However, it is anticipated that market expansion will be hampered by safety concerns around the handling and transportation of spent batteries as well as the high expense of industrial vehicles that run on batteries. Moreover, problems with lithium-ion battery overheating and battery aging are anticipated to present challenges for the lithium-ion battery market over the forecast period.
Market Competitive Landscape
The lithium-ion battery market in North America is quite fragmented. Among the leading companies in the market are Duracell Inc., Panasonic Corporation, LG Chem Ltd., Tesla Inc., and Samsung SDI Co. Ltd.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Product Type, By Power Capacity, By Application |
| Regions covered | Eastern, Western, Northern, Southern |
| Companies Covered | BYD Company Ltd, Clarios (Formerly Johnson Controls International PLC), Contemporary Amperex Technology Co. Limited, Duracell Inc., EnerSys, LG Chem Ltd., Panasonic Corporation, Samsung SDI Co. Ltd., Sony Corporation, VARTA AG, Others. |
COVID-19 Impact on North America Lithium-Ion Battery Market
Lithium-ion battery sale was among the many industries that suffered by COVID-19. During the COVID-19 outbreak, the financial issues faced by the public and government sectors caused significant harm. The requirements for social separation and the implementation of lockdown caused businesses to close in many different countries. Because of the manpower shortage and limited production, the lithium-ion battery sector faced severe challenges. The reduced production and closure of businesses, including the oil and gas sectors, among others, resulted in a decrease in the demand for lithium ion batteries. Still, after the post-COVID-19 scenario, the market for lithium-ion batteries is anticipated to experience increase.
Key Target Audience:
- Manufacturers and Suppliers
- Investors and Financial Institutions
- End Users
Our in-depth analysis of the North America Lithium-Ion Battery Market includes the following segments:
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| By Power Capacity: |
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| By Application: |
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Key Topics Covered in the Report:
- North America Lithium-Ion Battery Market Size (FY’2024-FY’2033)
- Overview of North America Lithium-Ion Battery Market
- Segmentation of North America Lithium-Ion Battery Market By Product Type (Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt, Lithium Manganese Oxide, Others)
- Segmentation of North America Lithium-Ion Battery Market By Power Capacity (0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh, More than 60000mAh)
- Segmentation of North America Lithium-Ion Battery Market By Application (Consumer Electronics, Electric Vehicles, Energy Storage, Others)
- Expansion Analysis of North America Lithium-Ion Battery Market
- Problems and Obstacles in North America Lithium-Ion Battery Market
- Competitive Landscape in the North America Lithium-Ion Battery Market
- Impact of COVID-19 and Demonetization on North America Lithium-Ion Battery Market
- Details on Current Investment in North America Lithium-Ion Battery Market
- Competitive Analysis of North America Lithium-Ion Battery Market
- Prominent Players in the North America Lithium-Ion Battery Market
- SWOT Analysis of North America Lithium-Ion Battery Market
- North America Lithium-Ion Battery Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the North America Lithium-Ion Battery Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America Lithium-Ion Battery Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Lithium-Ion Battery Market
7. North America Lithium-Ion Battery Market, By Product Type (USD Million) 2020-2033
7.1. North America Lithium-Ion Battery Market Size, Share and Forecast, By Product Type, 2020-20267.2. North America Lithium-Ion Battery Market Size, Share and Forecast, By Product Type, 2027-20337.3. Lithium Cobalt Oxide7.4. Lithium Iron Phosphate7.5. Lithium Nickel Manganese Cobalt7.6. Lithium Manganese Oxide7.7. Others
8. North America Lithium-Ion Battery Market, By Power Capacity (USD Million) 2020-2033
8.1. North America Lithium-Ion Battery Market Size, Share and Forecast, By Power Capacity, 2020-20268.2. North America Lithium-Ion Battery Market Size, Share and Forecast, By Power Capacity, 2027-20338.3. 0 to 3000mAh8.4. 3000mAh to 10000mAh8.5. 10000mAh to 60000mAh8.6. More than 60000mAh
9. North America Lithium-Ion Battery Market, By Application (USD Million) 2020-2033
9.1. North America Lithium-Ion Battery Market Size, Share and Forecast, By Application, 2020-20269.2. North America Lithium-Ion Battery Market Size, Share and Forecast, By Application, 2027-20339.3. Consumer Electronics9.4. Electric Vehicles9.5. Energy Storage9.6. Others
10. North America Lithium-Ion Battery Market Forecast, 2020-2033 (USD Million)
10.1. North America Lithium-Ion Battery Market Size and Market Share
11. North America Lithium-Ion Battery Market, By Region, 2020-2033 (USD Million)
11.1. North America Lithium-Ion Battery Market Size and Market Share By Region (2020-2026)11.2. North America Lithium-Ion Battery Market Size and Market Share By Region (2027-2033)11.3. Eastern11.4. Western11.5. Northern11.6. Southern
12. Company Profile
12.1. BYD Company Ltd12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments12.2. Clarios (Formerly Johnson Controls International PLC)12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments12.3. Contemporary Amperex Technology Co. Limited12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments12.4. Duracell Inc.12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments12.5. EnerSys12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments12.6. LG Chem Ltd.12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments12.7. Panasonic Corporation12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments12.8. Samsung SDI Co. Ltd.12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments12.9. Sony Corporation12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments12.10. VARTA AG12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments12.11. Others
13. List of Abbreviations
14. Reference Links
15. Conclusion
16. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
North America Lithium-Ion Battery Market is projected to reach USD 91.36 billion by 2033, growing at a CAGR of 17.38 % during the forecast period.
North America Lithium-Ion Battery Market size from 2022. The Market is expected to reach USD 91.36 billion by 2033, at a CAGR of 17.38% during the forecast period.
North America Lithium-Ion Battery Market CAGR of 17.38% during the forecast period.
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North America Lithium-Ion Battery Market size is 91.36 billion from 2024 to 2033.
North America Lithium-Ion Battery Market Segment is covered By Product Type, By Power Capacity, By Application.
The North America anticipated to have the highest market share in the North America Lithium-Ion Battery Market.
The key players in the market include Companies Covered BYD Company Ltd, Clarios (Formerly Johnson Controls International PLC), Contemporary Amperex Technology Co. Limited, Duracell Inc., EnerSys, LG Chem Ltd., Panasonic Corporation, Samsung SDI Co. Ltd., Sony Corporation, VARTA AG, Others.
Furthermore, the region's fast increase in the production of renewable energy, particularly solar and wind energy, has made grid energy storage necessary.
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