North America Lithium-Ion Battery Market Analysis

North America Lithium-Ion Battery Market Analysis

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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.