Market by Battery Type (Primary Battery, Secondary Battery), Technology (Lead-Acid, Lithium-Ion, Nickel-Cadmium, Nickel Metal Hydride, Nickel-Zinc (NiZn), Flow, Sodium-Sulfur (NaS), Zinc-Manganese Dioxide, Small Sealed Lead-Acid, Other Technologies), End-use (Automotive Batteries, Industrial Batteries, Portable Batteries, Power Tools Batteries, SLI Batteries, Other End-Uses), and Country Outlook | Forecast 2024-2032
Triton’s research report suggests that the North America battery market is projected to progress in terms of revenue at a CAGR of 15.89% during the forecast period 2024-2032.
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North America continues to be a leading consumer of various battery types. The integration of renewable energy with storage systems, the increasing adoption of electric vehicles, the growth of the renewable energy sector, and the rising sales of consumer electronics significantly support the growth of the battery market in the region. For instance, as per the US Department of Energy, the nation’s battery manufacturing capacity is expected to surge nearly to 1,000 GWh by 2030, supporting the production of approximately 10 to 13 million electric vehicles annually. This surge is primarily due to increasing investments and the establishment of new battery plants.
The countries considered in this region include:
The United States leads with a majority of market share, acquiring $29260.35 million in 2023
As per IEA, the US witnessed a 40% increase in new EV registrations, totaling 1.4 million units in 2023. This growth is underpinned by incentives from the Inflation Reduction Act (IRA) and expanding battery manufacturing capabilities.
Government initiatives such as the US Department of Energy’s National Blueprint for Lithium Batteries aim to develop a robust domestic supply chain for battery manufacturing, which further widens the market scope.
Additionally, innovations in battery chemistry are enhancing performance and reducing reliance on critical minerals. For example, lithium iron phosphate (LFP) and sodium-ion batteries are gaining popularity due to their lower cost and improved safety.
Market Forecast for Canada
The battery market in Canada is experiencing significant growth, driven by the country’s climate and energy policies. According to the International Energy Agency (IEA), Canada has committed to reducing greenhouse gas emissions by 40-45% by 2030. Several measures, including a robust carbon pricing scheme, support this commitment. Additionally, Canada has seen a substantial rise in battery demand, particularly for electric vehicles (EVs), which is expected to further fuel the battery market’s development.
The market segmentation includes technology, end-use, and battery type. The technology segment is divided into lithium-ion, lead-acid, flow, nickel metal hydride, nickel-cadmium, sodium-sulfur (NAS), nickel-zinc, zinc-manganese dioxide, small sealed lead-acid, and other technologies.
A lithium-ion battery is a rechargeable power source made up of cells in which lithium ions move from the negative electrode to the positive electrode through an electrolyte during discharge and return during charging. The positive electrode typically contains an intercalated lithium compound, while the negative electrode usually uses graphite. These batteries are known for their high energy density, minimal self-discharge, and lack of memory effect (except for LFP cells). Lithium-ion batteries are widely used in various products, including toys, wireless headphones, electronics, small and large appliances, electric vehicles, and energy storage systems.
Contender Analysis in the Battery Market:
A123 Systems LLC develops and manufactures lithium iron phosphate batteries and energy storage systems. These products maximize usable energy, deliver high power, and ensure long life with excellent safety performance. Founded in 2001, the company specializes in lithium-ion batteries, energy storage, hybrid and electric vehicles, battery management systems, and starter batteries. Headquartered in Michigan, US, it employs over 2,000 people worldwide and has offices in China, Germany, and the Czech Republic.
Other key companies included in the market report include Panasonic Corporation, Exide Technologies, Enersys, and Samsung SDI Co Ltd.
KEY DELIVERABLES OF THE REPORT:
Market CAGR during the forecasting years 2024-2032
Detailed data highlighting key insights, industry components, and market strategies
Comprehensive information and estimation of the battery market revenue growth in North America and its influence on the parent market
In-depth study of forthcoming trends in consumer behavioral patterns
A meticulous analysis of the competitive landscape and Porter’s Five Forces
A wide-ranging study of factors that will challenge the North America battery market’s growth during the upcoming years
Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. NORTH
AMERICA BATTERY MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
ANALYSIS ON THE BATTERY MARKET
2.1.1. COVID-19
IMPACT
2.2. PORTER’S
FIVE FORCES ANALYSIS
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTES
2.2.3. BARGAINING
POWER OF BUYERS
2.2.4. BARGAINING
POWER OF SUPPLIERS
2.2.5. THREAT
OF COMPETITIVE RIVALRY
2.3. MARKET
ATTRACTIVENESS INDEX
2.4. REGULATORY
FRAMEWORK
2.5. KEY BUYING
IMPACT ANALYSIS
2.5.1. ENERGY
DENSITY
2.5.2. BATTERY
MEMORY
2.5.3. LIFETIME
2.5.4. DURABILITY
2.6. SUPPLY
CHAIN ANALYSIS
2.6.1. RAW
MATERIAL
2.6.2. MANUFACTURING
& ASSEMBLY
2.6.3. DISTRIBUTION
2.6.4. END-USER
APPLICATIONS
2.6.5. AFTER-SALES
SERVICES
2.6.6. RECYCLING
2.7. KEY
MARKET STRATEGIES
2.7.1. COLLABORATIONS
2.7.2. PRODUCT
LAUNCHES
2.7.3. ACQUISITIONS
2.7.4. INVESTMENTS
& EXPANSIONS
2.8. MARKET
DRIVERS
2.8.1. INCREASING
POPULARITY OF CONSUMER ELECTRONICS
2.8.2. GOVERNMENT
INCENTIVES TO MANUFACTURE EV BATTERY
2.8.3. HIGH BATTERY
DEMAND FOR AUTOMOTIVE APPLICATIONS, PRIMARILY FROM EVS
2.9. MARKET
CHALLENGES
2.9.1. ISSUES
RELATED TO BATTERY RECYCLING
2.9.2. SAFETY
CONCERNS ASSOCIATED WITH BATTERY USE
2.9.3. VOLATILITY
IN RAW MATERIAL PRICES
2.10. MARKET
OPPORTUNITIES
2.10.1. INCREASING
ATTENTION TO SECOND-LIFE BATTERY USES
2.10.2. RISING
DEMAND FOR LARGER BATTERY PACKS
2.10.3. DEVELOPMENTS
IN BATTERY TECHNOLOGIES
2.11. ANALYST
PERSPECTIVE
3. NORTH
AMERICA BATTERY MARKET – BY BATTERY TYPE
3.1. PRIMARY
BATTERY
3.2. SECONDARY
BATTERY
4. NORTH
AMERICA BATTERY MARKET – BY TECHNOLOGY
4.1. LEAD-ACID
4.2. LITHIUM-ION
4.3. NICKEL-CADMIUM
4.4. NICKEL
METAL HYDRIDE
4.5. NICKEL-ZINC
(NIZN)
4.6. FLOW
4.7. SODIUM-SULFUR
(NAS)
4.8. ZINC-MANGANESE
DIOXIDE
4.9. SMALL
SEALED LEAD-ACID
4.10. OTHER TECHNOLOGIES
5. NORTH
AMERICA BATTERY MARKET – BY END-USE
5.1. AUTOMOTIVE
BATTERIES
5.2. INDUSTRIAL
BATTERIES
5.3. PORTABLE
BATTERIES
5.4. POWER
TOOLS BATTERIES
5.5. SLI
BATTERIES
5.6. OTHER END-USES
6. NORTH
AMERICA BATTERY MARKET – BY COUNTRY OUTLOOK
6.1. UNITED
STATES
6.1.1. UNITED
STATES BATTERY MARKET FORECAST & PROSPECTS
6.2. CANADA
6.2.1. CANADA
BATTERY MARKET FORECAST & PROSPECTS
7. COMPETITIVE
LANDSCAPE
7.1. GS
YUASA INTERNATIONAL LTD
7.1.1. OVERVIEW
7.1.2. PORTFOLIO
7.1.3. KEY
STRENGTH
7.1.4. KEY
CHALLENGE
7.2. JOHNSON
CONTROLS INC
7.2.1. OVERVIEW
7.2.2. PORTFOLIO
7.2.3. KEY
STRENGTH
7.2.4. KEY
CHALLENGE
7.3. PANASONIC
CORPORATION
7.3.1. OVERVIEW
7.3.2. PORTFOLIO
7.3.3. KEY
STRENGTHS
7.3.4. KEY
CHALLENGES
7.4. SAMSUNG
SDI CO LTD
7.4.1. OVERVIEW
7.4.2. PORTFOLIO
7.4.3. KEY
STRENGTH
7.4.4. KEY
CHALLENGE
7.5. A123
SYSTEMS LLC
7.5.1. OVERVIEW
7.5.2. PORTFOLIO
7.5.3. KEY
STRENGTH
7.5.4. KEY
CHALLENGES
7.6. EXIDE
TECHNOLOGIES
7.6.1. OVERVIEW
7.6.2. PORTFOLIO
7.6.3. KEY
STRENGTH
7.6.4. KEY
CHALLENGE
7.7. ENERSYS
7.7.1. OVERVIEW
7.7.2. PORTFOLIO
7.7.3. KEY
STRENGTH
7.7.4. KEY
CHALLENGES
7.8. BYD
COMPANY LIMITED
7.8.1. OVERVIEW
7.8.2. PORTFOLIO
7.8.3. KEY
STRENGTH
7.8.4. KEY
CHALLENGE
7.9. C&D
TECHNOLOGIES INC
7.9.1. OVERVIEW
7.9.2. PORTFOLIO
7.9.3. KEY STRENGTHS
7.9.4. KEY
CHALLENGE
7.10. SAFT
GROUPE SA
7.10.1. OVERVIEW
7.10.2. PORTFOLIO
7.10.3. KEY
STRENGTH
7.10.4. KEY
CHALLENGE
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: NORTH AMERICA BATTERY
MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
TABLE 2: REGULATORY FRAMEWORK
TABLE 3: LIST OF
COLLABORATIONS
TABLE 4: LIST OF PRODUCT
LAUNCHES
TABLE 5: LIST OF ACQUISITIONS
TABLE 6: LIST OF INVESTMENTS
& EXPANSIONS
TABLE 7: NORTH AMERICA BATTERY
MARKET, BY BATTERY TYPE, 2024-2032 (IN $ MILLION)
TABLE 8: NORTH AMERICA BATTERY
MARKET, BY TECHNOLOGY, 2024-2032 (IN $ MILLION)
TABLE 9: NORTH AMERICA BATTERY
MARKET, BY END-USE, 2024-2032 (IN $ MILLION)
TABLE 10: NORTH AMERICA
BATTERY MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
FIGURE
1: PORTER’S FIVE FORCES ANALYSIS
FIGURE
2: MARKET ATTRACTIVENESS INDEX
FIGURE
3: KEY BUYING IMPACT ANALYSIS
FIGURE
4: SUPPLY CHAIN ANALYSIS
FIGURE
5: NORTH AMERICA BATTERY MARKET, BY BATTERY TYPE, 2023 & 2032 (IN %)
FIGURE
6: NORTH AMERICA BATTERY MARKET, BY PRIMARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE
7: NORTH AMERICA BATTERY MARKET, BY SECONDARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE
8: NORTH AMERICA BATTERY MARKET, BY TECHNOLOGY, 2023 & 2032 (IN %)
FIGURE
9: NORTH AMERICA BATTERY MARKET, BY LEAD-ACID, 2024-2032 (IN $ MILLION)
FIGURE
10: NORTH AMERICA BATTERY MARKET, BY LITHIUM-ION, 2024-2032 (IN $ MILLION)
FIGURE
11: NORTH AMERICA BATTERY MARKET, BY NICKEL-CADMIUM, 2024-2032 (IN $ MILLION)
FIGURE
12: NORTH AMERICA BATTERY MARKET, BY NICKEL METAL HYDRIDE, 2024-2032 (IN $
MILLION)
FIGURE
13: NORTH AMERICA BATTERY MARKET, BY NICKEL-ZINC (NIZN), 2024-2032 (IN $
MILLION)
FIGURE
14: NORTH AMERICA BATTERY MARKET, BY FLOW, 2024-2032 (IN $ MILLION)
FIGURE
15: NORTH AMERICA BATTERY MARKET, BY SODIUM-SULFUR (NAS), 2024-2032 (IN $
MILLION)
FIGURE
16: NORTH AMERICA BATTERY MARKET, BY ZINC-MANGANESE DIOXIDE, 2024-2032 (IN $
MILLION)
FIGURE
17: NORTH AMERICA BATTERY MARKET, BY SMALL SEALED LEAD-ACID, 2024-2032 (IN $
MILLION)
FIGURE
18: NORTH AMERICA BATTERY MARKET, BY OTHER TECHNOLOGIES, 2024-2032 (IN $
MILLION)
FIGURE
19: NORTH AMERICA BATTERY MARKET, BY END-USE, 2023 & 2032 (IN %)
FIGURE
20: NORTH AMERICA BATTERY MARKET, BY AUTOMOTIVE BATTERIES, 2024-2032 (IN $
MILLION)
FIGURE
21: NORTH AMERICA BATTERY MARKET, BY INDUSTRIAL BATTERIES, 2024-2032 (IN $
MILLION)
FIGURE
22: NORTH AMERICA BATTERY MARKET, BY PORTABLE BATTERIES, 2024-2032 (IN $
MILLION)
FIGURE
23: NORTH AMERICA BATTERY MARKET, BY POWER TOOLS BATTERIES, 2024-2032 (IN $
MILLION)
FIGURE
24: NORTH AMERICA BATTERY MARKET, BY SLI BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE
25: NORTH AMERICA BATTERY MARKET, BY OTHER END-USES, 2024-2032 (IN $ MILLION)
FIGURE
26: NORTH AMERICA BATTERY MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE
27: UNITED STATES BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE
28: CANADA BATTERY MARKET 2024-2032 (IN $ MILLION)