The North America lithium-ion battery market size reached US$ 16.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.6 Billion by 2028, exhibiting a growth rate (CAGR) of 12.4% during 2023-2028.
Lithium-ion, or Li-ion, batteries can be defined as rechargeable batteries with a high energy density. A typical lithium-ion battery is capable of storing 150 watt-hours of electricity in 1 kilogram of battery. These batteries do not have a memory effect owing to which they are not required to be discharged prior to recharging. These low maintenance batteries are ideal for modern fuel gauge applications as their self-discharge is much lower than that of nickel-cadmium batteries. Besides this, Li-ion batteries can be used for a variety of applications ranging from automobiles to power sources for mobile devices and personal computers.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
The North America lithium-ion battery market is currently being driven by several factors. The region is experiencing a mounting demand for electric and hybrid vehicles, which employ lithium-ion batteries. Moreover, the escalating sales of consumer electronics in the region have also catalyzed the demand for these batteries. Apart from this, the need for lithium-ion batteries is stimulated based on their excess power storage capacity, which is beneficial during peak hours of electricity demand. In addition to this, rapid growth in renewable energy production in the region, especially wind and solar energy, has also induced the need for grid energy storage. Furthermore, consumers have started relying on electronic gadgets, such as tablets, laptops and smartphones, for communication and other daily activities. As these devices mostly run on lithium-ion batteries, the demand is being escalated at a rapid pace in the region.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America lithium-ion battery market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on product type, power capacity and application.
- Key Regions Analysed
- United States
- Analysis for Each Country
- Market by Product Type
- Lithium Cobalt Oxide
- Lithium Iron Phosphate
- Lithium Nickel Manganese Cobalt
- Lithium Manganese Oxide
- Market by Power Capacity
- 0 to 3000mAh
- 3000mAh to 10000mAh
- 10000mAh to 60000mAh
- More than 60000mAh
- Market by Application
- Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- PESTEL Analysis
- Government Regulations
- Competitive Landscape
- Competitive Structure
- Key Player Profiles
|Base Year of the Analysis
||Product Type, Power Capacity, Application, Country
||United States, Canada, Mexico
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Key Questions Answered in This Report:
- How has the North America lithium-ion battery market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the North America lithium-ion battery market?
- What are the key regions in the North America lithium-ion battery market?
- What is the breakup of the North America lithium-ion battery market on the basis of product type?
- What is the breakup of the North America lithium-ion battery market on the basis of power capacity?
- What is the breakup of the North America lithium-ion battery market on the basis of application?
- What are the various stages in the value chain of the North America lithium-ion battery industry?
- What are the key driving factors and challenges in the North America lithium-ion battery industry?
- What is the structure of the North America lithium-ion battery industry and who are the key players?
- What is the degree of competition in the North America lithium-ion battery industry?
- What are the profit margins in the North America lithium-ion battery industry?