North America Battery Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Type (Primary and Secondary Battery), Technology (Lead-acid Battery, Lithium-ion Battery, and Other Technologies), Application (Automotive Batteries (HEV, PHEV, EV), Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.), Portable Batteries (Consumer Electronics etc.), and Others), and Geography

Market Snapshot

North America Battery Market Summary
Study Period:

2017-2024

Base Year:

2018

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Market Overview

The market for battery in North America is expected to grow at a CAGR of approximately 9.81% during the forecast period of 2019 – 2024. Major factors driving the market include declining lithium-ion battery prices, rapid adoption of electric vehicles, growing renewable sector, and increased sale of consumer electronics. On the other hand, the demand-supply mismatch of raw materials is likely to hinder the market growth.

  • The automotive sector is expected to be one of the major end-user segments for lithium-ion batteries in the near future. The penetration of electric vehicles is anticipated to provide a massive impetus for the lithium-ion battery industry growth.
  • North America, including the United States and Canada, remains as a pioneer in the research and innovation in the global battery market, The North American region also remains one of the largest consumers of batteries, the integration of renewables with energy storage systems is presenting itself as a market opportunity for the lithium-ion battery market.
  • The Government of US has been encouraging investors for both EV and renewable industry, resulting in an increased demand for battery-based energy storage systems, primilarly led by lithium-ion batteries.
  • Sodium-based battery storage accounted for 3% of the installed large-scale power capacity and 12% of the installed massive energy capacity in the United States at the end of 2016. However, despite being one of the oldest and mature battery forms, lead acid only accounted for 2%–3% of large-scale battery storage capacity in the country.

Scope of the Report

The North America battery market report include:

Type
Primary Battery
Secondary Battery
Technology
Lead-acid Battery
Lithium-ion Battery
Other Technologies
Application
Automotive Batteries (HEV, PHEV, EV)
Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
Portable Batteries (Consumer Electronics etc.)
Others
Geography
US
Canada
Rest of North America

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Key Market Trends

Automotive Batteries segment set to be the Fastest Growing Segment

  • The automotive sector is expected to be one of the major end-user segments for batteries, primarily lithium-ion batteries in the near future. The penetration of electric vehicles is anticipated to provide a massive impetus for the lithium-ion Battery industry growth in North America.
  • A range of different vehicle types is now available, featuring increasing degrees of hybridization and electrification. There are various types of vehicles, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles, and electric vehicles (EVs).
  • The adoption of electric vehicles is increasing at a high growth rate. US is already among the countries leading in global EV sales, along with other economies like Canada, which has already begun transforming its public transportation infrastructure for EVs.
  • In the current market scenario, policy support plays a crucial role in driving the adoption of electric vehicles. Policy support enables market growth by making vehicles appealing to consumers, reducing risks for investors, and encouraging manufacturers to develop electric vehicle on a large scale.
  • Falling Lithium-ion Battery prices and improving technology are expected to bring price-competitive electric vehicles to the market, creating demand for Lithium-ion Battery technologies.
North America Battery Market Segmentation

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United States Driving the Market Demand

  • Until 2015, the United States accounted for the largest portion of the global electric car stock. In 2016, China became the country with the largest electric car stock, with about a third of the global total. However, as the gap between emissions from Electric Vehicles (EVs) and conventional cars widens, and in a bid to take advantage of future electricity supplies that include more renewable sources in the country, electric vehicles sales are expected to significantly increase in the United States during the forecast period.
  • The United States is among the pioneer in the research and innovation in the global battery market, the region also remains one of the largest consumers of batteries - both primary and secondary battery types, owing to factors, such as increased electric vehicle deployment, increased spending on consumer electronics, and increased consumer and manufacturing activities.
  • The increasing adoption of electric vehicles is in line with the clean energy policy. In order to reduce the demand-supply gap, the government of the US is planning to ease restriction on automakers importing cars into the country.
  • US is likely to be the dominant player in the North America Lithium-ion Battery market, supported by increasing urbanization and consumer spending, which is expected to ramp up the demand for technically advanced devices & vehicles, due to the benefits provided by the same. Consecutively, leading to a growth in demand for batteries.
North America Battery Market Regional Analysis

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Competitive Landscape

  • The North America battery market for batteries remains highly fragmented, with the presence of numerous players. Some of the major players include Contemporary Amperex Technology Co. Limited, BYD Co. Ltd, Duracell Inc., EnerSys, Johnson Controls International plc, LG Chem Ltd, Panasonic Corporation, Saft Groupe S.A., Samsung SDI Co. Ltd, Sony Corporation, and Tesla, Inc.

Major Players

  1. Contemporary Amperex Technology Co. Limited
  2. BYD Co. Ltd
  3. Duracell Inc.

* Complete list of players covered available in the table of contents below

North America Battery Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

    4. 1.4 Study Deliverables

    5. 1.5 Research Phases

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast, till 2024

    3. 4.3 Recent Trends and Developments (Including Ongoing R&D Activities in the Battery Market)

    4. 4.4 Battery/Raw Material Price Trends and Forecast, by Major Technology Type (in USD per kWh or USD per tonne)

    5. 4.5 International Trade Statistics (Import/Export Data), by Major Technology Type, By Major Countries, in USD

    6. 4.6 Market Dynamics

      1. 4.6.1 Drivers

      2. 4.6.2 Restraints

    7. 4.7 Supply Chain Analysis

    8. 4.8 Porter's Five Forces Analysis

      1. 4.8.1 Bargaining Power of Suppliers

      2. 4.8.2 Bargaining Power of Consumers

      3. 4.8.3 Threat of New Entrants

      4. 4.8.4 Threat of Substitute Products and Services

      5. 4.8.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Primary Battery

      2. 5.1.2 Secondary Battery

    2. 5.2 Technology

      1. 5.2.1 Lead-acid Battery

      2. 5.2.2 Lithium-ion Battery

      3. 5.2.3 Other Technologies

    3. 5.3 Application

      1. 5.3.1 Automotive Batteries (HEV, PHEV, EV)

      2. 5.3.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)

      3. 5.3.3 Portable Batteries (Consumer Electronics etc.)

      4. 5.3.4 Others

    4. 5.4 Geography

      1. 5.4.1 US

      2. 5.4.2 Canada

      3. 5.4.3 Rest of North America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 BYD Co. Ltd

      2. 6.3.2 Contemporary Amperex Technology Co. Limited

      3. 6.3.3 Duracell Inc.

      4. 6.3.4 EnerSys

      5. 6.3.5 Johnson Controls International plc

      6. 6.3.6 LG Chem Ltd

      7. 6.3.7 Panasonic Corporation

      8. 6.3.8 Saft Groupe S.A.

      9. 6.3.9 Samsung SDI Co. Ltd

      10. 6.3.10 Sony Corporation

      11. 6.3.11 Tesla, Inc.

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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