North America Lithium-Ion Battery Market Size - By Chemistry (LFP, LCO, LTO, NMC, NCA, LMO), By Component (Cathode, Anode, Separators, Electrolytes, Aluminum Foil, Copper Foil), By Application (Industrial, Automotive, Electronics, Energy Storage) & Forecast, 2024 – 2032

North America Lithium-Ion Battery Market Size

North America Lithium-Ion Battery Market was valued at USD 18.4 billion in 2023 and is anticipated to grow at a CAGR of over 17.1% from 2024 to 2032. The growing demand for electric vehicles (EVs) and the increasing adoption of renewable energy storage solutions are propelling the market growth. Moreover, the growing demand for EVs on account of their environmental benefits and governmental incentives are surging the demand for these batteries.
 

The major players across the industry are taking relentless efforts to bring innovation in battery technologies. The escalating shift towards renewable energy sources necessitates efficient energy storage solutions, with lithium-ion batteries being at the forefront due to their high energy density and longer lifespan. This dual demand is stimulating the production and deployment of Lithium-Ion Battery across North America.
 

North America Lithium-Ion Battery Market Trends

Ongoing advancements in technology are improving battery performance, reducing costs, and expanding their applications across consumer electronics, grid storage, and industrial uses, which will propel the industry growth. Additionally, there's a push towards domestic production and supply chain resilience, leading to investments in lithium-ion battery manufacturing facilities across North America.
 

Partnerships amongst automakers, tech companies, and battery manufacturers are fostering innovation and accelerating market growth. These trends collectively indicate a robust and dynamic market poised for continued expansion in the coming years, offering opportunities for both established players and new entrants in the industry.
 

North America Lithium-Ion Battery Market Analysis

Based on chemistry, the NMC segment is predicted to exceed USD 9 billion by 2032 owing to its balance properties. NMC offers high energy density, improved stability, and longer lifespan compared to other product variants. Moreover, its combination of nickel, manganese, and cobalt provides optimal performance, making it a preferred choice for various applications, including electric vehicles and consumer electronics.
 

Based on application, the automotive segment is anticipated to grow at over 15.1% CAGR through 2032, on account of rising demand for electric vehicles (EVs) and advancements in automotive technologies. As governments worldwide implement stringent emission regulations, automakers are adopting cleaner energy solutions, driving the growth of batteries for EVs. Additionally, consumer preference for eco-friendly vehicles and the expansion of electric vehicle infrastructure further bolsters this segment's dominance in the lithium-ion battery market.
 

U.S. lithium-ion battery market valuation is projected to surpass USD 74 billion by 2032 owing to ongoing advancements in battery technology, and significant investments in domestic battery manufacturing infrastructure. As the shift towards sustainable transportation and energy storage accelerates, the U.S. is expected to emerge as a major player in meeting the burgeoning demand for lithium-ion batteries, propelling significant market growth.
 

North America Lithium-Ion Battery Market Share

Tesla, LG, Samsung are prominent players in this sector, offering a wide array of products to meet diverse application needs. Their dedication to innovation ensures the creation of high-quality, cutting-edge products that meet industry standards. Their emphasis on providing customized solutions and excellent service to ensure customer satisfaction reinforces their position in the lithium-ion battery market.
 

North America Lithium-Ion Battery Market Companies

Eminent players operating in the North America lithium-ion battery industry include:

• Tesla
• LG
• BYD Co., Ltd.
• Samsung
• Toshiba Corporation
• Panasonic Corporation
• Orbia
• Hitachi Energy Ltd.
• Clarios
• Koninklijke Philips N.V.
• Lithium Werks
• Maxell Ltd.
• Saft
• Exide Technologies
• ENERGON
• Ding Tai Battery Company Ltd.
• EaglePicher Technologies, LLC
• Akku Tronics New Energy Technology Co.
• ProLogium Technology CO. Ltd.
   

North America Lithium-Ion Battery Industry News

• In February 2022, Panasonic Corporation revealed its plan for the Energy Company to inaugurate a production plant within its Wakayama Factory situated in western Japan. This facility will focus on manufacturing cutting-edge, larger 4680 cylindrical lithium-ion batteries designed for electric vehicles (EVs).
   
• In January 2022, Orbia has introduced notable improvements to its customized electrolyte solutions designed for critical applications in non-electric vehicles (non-EVs). This expansion follows a highly successful beta launch in 2023, which played a pivotal role in promoting the adoption of clean energy through the utilization of locally sourced battery materials.
   

This North America Lithium-Ion Battery market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2019 to 2032, for the following segments:

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Market, By Chemistry

• Lithium Iron Phosphate (LFP)
• Lithium Cobalt Oxide (LCO)
• Lithium Titanate Oxide (LTO)
• Lithium Nickel Manganese Cobalt Oxide (NMC)
• Lithium Nickel Cobalt Aluminum Oxide (NCA)
• Lithium Manganese Oxide (LMO)

Market, By Component

• Cathode
• Anode
• Separator
• Electrolyte
• Aluminum Foil
• Copper Foil
• Others

Market, By Application

• Industrial
  • Military
  • Heavy Industrial Equipment
  • Medical
  • Marine
  • Others 
• Automotive
  • HEV
  • BEV
• Consumer Electronics
  • Smartphones
  • Laptops
  • UPS Systems
  • Smart Cameras
  • Smart Watches
  • Smart Glasses
  • Smart Textiles
  • Activity Trackers
  • Others
• Energy Storage

The above information has been provided for the following countries across the regions:

• U.S.
• Canada