According to the latest report by IMARC Group, titled “North America Lithium-ion Battery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the North America lithium-ion battery market size reached a value of US$ 11.2 Billion in 2020. Looking forward, IMARC Group expects the North America lithium-ion battery market to grow at a CAGR of around 10% during 2021-2026. Lithium-ion, or Li-ion, batteries are rechargeable batteries that have a high energy density. A typical lithium-ion battery can store 150 watt-hours of electricity in 1 kilogram of battery. These batteries do not have a memory effect, due to which they are not required to be discharged prior to recharging. Li-ion batteries are low maintenance batteries that are considered ideal for modern fuel gauge applications as their self-discharge is less than that of nickel-cadmium batteries. As a result, these batteries are used for numerous applications ranging from automobiles to power sources for mobile devices and personal computers.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The North America lithium-ion battery market is primarily driven by the growing demand for electric and hybrid vehicles, which employ lithium-ion batteries. Furthermore, numerous electronic gadgets, such as smartphones, laptops, tablets, etc., usually run-on lithium-ion batteries. The increasing demand for consumer electronics in the region has also propelled the sales of these batteries. Besides this, the need for lithium-ion batteries is further stimulated due to their excess power storage capacity, which is beneficial during peak hours of electricity demand. Moreover, rapid growth in the production of renewable energy, particularly wind and solar energy, has also induced the need for grid energy storage. All the above-mentioned factors are anticipated to further bolster the product demand in North America over the forecasted period.
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Key Market Segmentation:
Breakup by Product Type:
- Lithium Cobalt Oxide
- Lithium Iron Phosphate
- Lithium Nickel Manganese Cobalt
- Lithium Manganese Oxide
Breakup by Power Capacity:
- 0 to 3000mAh
- 3000mAh to 10000mAh
- 10000mAh to 60000mAh
- More than 60000mAh
Breakup by Application:
- Consumer Electronics
- Electric Vehicles
- Energy Storage
Breakup by Region:
- United States
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Key highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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