NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET 2021-2028

Automotive & Transportation | Electronics & Electric system

NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET 2021-2028

Market by Vehicle Type, Battery Type, End-user, and Country | Forecast 2021-2028

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Triton’s research report has evaluated that the North American electric vehicle battery market is estimated to develop at a CAGR of 17.68% through the predicted years 2021-2028.


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The countries discussed in this market are:

•        United States

•        Canada

The North American market has been at the forefront in terms of technological advancements due to significant investments. In this regard, the electric vehicle segment has gained considerable traction across the region, with major companies operating across the US and Canada. Furthermore, the prominent companies include General Motors, Tesla, and Ford Motors. Besides, the region hosts the primary market for onboard chargers. Other than this, the high economic development, increase in funding, and scientific innovation are other factors influencing the demand for onboard chargers. Hence, all these developments are widening the scope of the electric vehicle battery market across North America.

The United States is among the leaders in the implementation of modern technologies in the automotive industry. Here, the government has offered various incentives for the development and adoption of sustainable solutions. Besides, the Advanced Research Projects Agency-Energy is set to develop alternative solutions for limiting reliance on foreign energy imports and vehicle technologies. Moreover, the research activities have led to the evolution of advanced battery technologies across the country. For instance, Harvard researchers developed solid-state lithium batteries for electric vehicles in May 2021. Therefore, such developments are creating several opportunities for the electric vehicle battery market across the US.

A123 Systems is a developed and manufacturer of lithium-ion batteries. It caters to low voltage hybrids, PHEVs, commercial vehicles, and other industries. The company has a comprehensive product portfolio, having engineering, R&D, and call test centers within the United States. Its PHEV2 module nickel manganese cobalt technology offers superior cycle life and abuse tolerance. A123 has operations in various regions, including North America. 

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Table of Content

1. NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. KEY INSIGHTS

2.1.1. INCREASED INVESTMENTS IN THE ELECTRIC VEHICLE MARKET

2.1.2. NEED FOR SUBSIDIES IN BATTERY RECYCLING

2.2. IMPACT OF COVID-19 ON ELECTRIC VEHICLE BATTERY MARKET

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF SUPPLIERS

2.3.4. BARGAINING POWER OF BUYERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS MATRIX

2.5. INDUSTRY COMPONENTS

2.5.1. RAW MATERIAL MINING

2.5.2. BATTERY CELL

2.5.3. BATTERY MODULE

2.5.4. BATTERY PACK

2.5.5. END-USER

2.5.6. END OF LIFE PROCESSES

2.6. VENDOR SCORECARD

2.7. TECHNOLOGY ANALYSIS

2.7.1. LI-ION BATTERY BASED ON VARIATION IN CATHODE MATERIAL

2.7.1.1. NCM (LITHIUM-COBALT-MANGANESE-OXIDE)

2.7.1.2. NCA (LITHIUM NICKEL COBALT ALUMINUM OXIDE)

2.7.1.3. LFP (LITHIUM IRON PHOSPHATE)

2.7.2. SOLID STATE BATTERIES

2.8. RAW MATERIAL ANALYSIS

2.8.1. KEY RAW MATERIALS

2.8.2. COUNTRIES HAVING HIGH DEPOSITS OF KEY RAW MATERIALS

2.8.2.1. LITHIUM

2.8.2.2. MANGANESE

2.8.2.3. NICKEL

2.8.2.4. COBALT

2.8.2.5. GRAPHITE

2.9. KEY MARKET STRATEGIES

2.9.1. CONTRACTS & PARTNERSHIPS

2.9.2. BUSINESS EXPANSIONS & DIVESTITURES

2.9.3. ACQUISITIONS & MERGERS

2.9.4. NEW PRODUCT LAUNCHES

2.10. INDUSTRY PLAYER POSITIONING

2.11. MARKET DRIVERS

2.11.1. GROWING ELECTRIC VEHICLES MARKET

2.11.2. GOVERNMENTAL INCENTIVES AND PROMOTION

2.11.3. DEVELOPMENTS IN BATTERY TECHNOLOGY

2.11.4. GROWTH IN PUBLIC CHARGING INFRASTRUCTURE

2.12. MARKET CHALLENGES

2.12.1. ISSUES IN RAW MATERIAL PROCUREMENT

2.12.2. HIGH CHARGING TIME FOR BATTERIES

2.12.3. SAFETY CONCERNS

2.13. MARKET OPPORTUNITIES

2.13.1. EMERGENCE OF SHARED E-MOBILITY HELPING BATTERY SWAPPING SEGMENT

2.13.2. IMPROVEMENTS IN VEHICLE-TO-GRID (V2G) TECHNOLOGIES

3. NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET – BY VEHICLE TYPE

3.1. BATTERY ELECTRIC VEHICLE

3.2. HYBRID ELECTRIC VEHICLE

3.3. PLUG-IN HYBRID ELECTRIC VEHICLE

4. NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET - BY BATTERY TYPE

4.1. LEAD ACID

4.2. NICKEL-METAL HYDRIDE

4.3. LITHIUM-ION

5. NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET - BY END-USER

5.1. COMMERCIAL VEHICLE

5.2. PASSENGER CAR

5.3. OTHER END USERS

6. NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET – REGIONAL OUTLOOK

6.1. UNITED STATES

6.2. CANADA

7. COMPETITIVE LANDSCAPE

7.1. MARKET SHARE ANALYSIS

7.2. COMPANY PROFILES

7.2.1. CATL

7.2.2. LG ENSOL

7.2.3. PANASONIC

7.2.4. SAMSUNG SDI

7.2.5. SK INNOVATION

7.2.6. BYD

7.2.7. CALB

7.2.8. VEHICLE ENERGY JAPAN CO LTD

7.2.9. TOSHIBA CORPORATION

7.2.10. LITHIUM ENERGY JAPAN

7.2.11. ENVISION AESC

7.2.12. A123 SYSTEMS

7.2.13. GS YUASA

7.2.14. NORTHVOLT AB

7.2.15. PRIME PLANET ENERGY SOLUTIONS

8. METHODOLOGY & SCOPE

8.1. RESEARCH SCOPE & DELIVERABLES

8.2. SOURCES OF DATA

8.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2021-2028 (IN $ MILLION)

TABLE 2: MARKET ATTRACTIVENESS MATRIX

TABLE 3: VENDOR SCORECARD

TABLE 4: MAJOR ELECTRIC VEHICLE KEY RAW MATERIALS PRODUCERS

TABLE 5: LIST OF CONTRACTS & PARTNERSHIPS

TABLE 6: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

TABLE 7: LIST OF ACQUISITIONS & MERGERS

TABLE 8: LIST OF NEW PRODUCT LAUNCHES

TABLE 9: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2021-2028 (IN $ MILLION)

TABLE 10: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2021-2028 (IN $ MILLION)

TABLE 11: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, 2021-2028 (IN $ MILLION)

TABLE 12: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY COUNTRY OUTLOOK, 2021-2028 (IN $ MILLION)

List of Figures

FIGURE 1: PORTER’S FIVE FORCES ANALYSIS

FIGURE 2: INDUSTRY COMPONENTS

FIGURE 3: SNAPSHOT OF A TYPICAL NCM BATTERY

FIGURE 4: SNAPSHOT OF A TYPICAL NCA BATTERY

FIGURE 5: SNAPSHOT OF A TYPICAL LFP BATTERY

FIGURE 6: INDUSTRY PLAYER POSITIONING IN 2020 (IN %)

FIGURE 7: ELECTRIC VEHICLE SALES, IN UNITS, 2010-2020

FIGURE 8: LITHIUM-ION BATTERY PRICE PER KWH (2010-2020)

FIGURE 9: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2020 & 2028 (IN %)

FIGURE 10: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY ELECTRIC VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 11: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY HYBRID ELECTRIC VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 12: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY PLUG-IN HYBRID ELECTRIC VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 13: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2020 & 2028 (IN %)

FIGURE 14: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY LEAD ACID, 2021-2028 (IN $ MILLION)

FIGURE 15: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY NICKEL-METAL HYDRIDE, 2021-2028 (IN $ MILLION)

FIGURE 16: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY LITHIUM-ION, 2021-2028 (IN $ MILLION)

FIGURE 17: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, 2020 & 2028 (IN %)

FIGURE 18: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY COMMERCIAL VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 19: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY PASSENGER CAR, 2021-2028 (IN $ MILLION)

FIGURE 20: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY OTHER END-USERS, 2021-2028 (IN $ MILLION)

FIGURE 21: NORTH AMERICA ELECTRIC VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2020 & 2028 (IN %)

FIGURE 22: UNITED STATES ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 23: CANADA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 24: MARKET SHARE ANALYSIS, 2020, (IN %)

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