North America Battery Market Size & Outlook, 2023-2030
North America battery market, 2018-2030 (US$M)
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North America battery market highlights
- The North America battery market generated a revenue of USD 26,539.7 million in 2023.
- The market is expected to grow at a CAGR of 14.3% from 2024 to 2030.
- In terms of segment, lithium ion was the largest revenue generating product in 2023.
- Sodium-ion is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 26,539.7 million |
| Market revenue in 2030 | USD 67,749.7 million |
| Growth rate | 14.3% (CAGR from 2023 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Sodium-ion |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead Acid, Lithium Ion, Nickel-based, Sodium-ion, Flow Battery, Small Sealed Lead-acid Batteries |
| Key market players worldwide | BYD Co Ltd ADR, GS Yuasa Corp, Hitachi Ltd, Johnson Controls International PLC, LG Chem, NEC Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Toshiba Corporation |
Other key industry trends
- In terms of revenue, North America region accounted for 22.5% of the global battery market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 69,201.0 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to battery market will help companies and investors design strategic landscapes.
Lithium ion was the largest segment with a revenue share of 39.85% in 2023. Horizon Databook has segmented the North America battery market based on lead acid, lithium ion, nickel-based, sodium-ion, flow battery, small sealed lead-acid batteries covering the revenue growth of each sub-segment from 2018 to 2030.
The growing demand for electric vehicles in the U.S. and Mexico, on account of rising government efforts to reduce the carbon footprint by deploying eco-friendly products, is expected to augment the market growth over the forecast period.
For instance, in April 2024, Aqua Metals and 6K Energy jointly announced a strategic supply agreement, creating North America's first sustainable circular supply chain for critical minerals needed to produce lithium-ion batteries.
Aqua Metals is expected to supply environmentally recycled battery materials from its Sierra ARC facility in Reno, Nevada V, to 6K Energy to produce low-carbon cathode active material (CAM) at its PlusCAM facility in Jackson, Tennessee.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America battery market , including forecasts for subscribers. This continent databook contains high-level insights into North America battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America battery market size, by country, 2018-2030 (US$M)
North America Battery Market Outlook Share, 2023 & 2030 (US$M)
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