Market Size of North America Lithium-ion Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 16.53 Billion |
| Market Size (2029) | USD 51.18 Billion |
| CAGR (2024 - 2029) | 25.35 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Lithium-ion Battery Market Analysis
The North America Lithium-ion Battery Market size is estimated at USD 16.53 billion in 2024, and is expected to reach USD 51.18 billion by 2029, growing at a CAGR of 25.35% during the forecast period (2024-2029).
- Over the medium term, increasing consumer demand for electric and hybrid vehicles, and icreasing demand from energy storage systems is expected to drive the market.
- On the other hand, the demand-supply mismatch of raw materials is expected to hinder the market growth during the study period.
- Nevertheless, the automotive batteries segment is expected to be one of the major applications for lithium-ion batteries, owing to the increased adoption of electric vehicles during the forecast period.
- The United States is expected to dominate the market due to the government's increasing investments in Electric vehicle segments in the forecast period, esulting in increased demand for battery-based energy storage systems, primarily led by lithium-ion batteries.
