North America Lithium-ion Battery Market Size & Outlook
North America lithium-ion battery market, 2018-2030 (US$M)
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North America lithium-ion battery market highlights
- The North America lithium-ion battery market generated a revenue of USD 116.3 million in 2023.
- The market is expected to grow at a CAGR of 29.3% from 2024 to 2030.
- In terms of segment, lithium nickel manganese cobalt (nmc) was the largest revenue generating product in 2023.
- Lithium Iron Phosphate (LiFePO4) is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 116.3 million |
| Market revenue in 2030 | USD 702.7 million |
| Growth rate | 29.3% (CAGR from 2023 to 2030) |
| Largest segment | Lithium nickel manganese cobalt (nmc) |
| Fastest growing segment | Lithium Iron Phosphate (LiFePO4) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LiFePO4), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate (LTO), Lithium Nickel Manganese Cobalt (NMC) |
| Key market players worldwide | BYD Co Ltd ADR, Hitachi Ltd, Johnson Controls International PLC, LG Chem, Panasonic Holdings Corp, Samsung SDI Co Ltd GDR - 144A, Toshiba Tec Corp ADR, GS Yuasa Corp |
Other key industry trends
- In terms of revenue, North America region accounted for 24.9% of the global lithium-ion battery market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 702.7 million by 2030.
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Lithium-ion Battery Market Scope
Lithium-ion Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America lithium-ion 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 lithium-ion battery market will help companies and investors design strategic landscapes.
Lithium nickel manganese cobalt (nmc) was the largest segment with a revenue share of 32.67% in 2023. Horizon Databook has segmented the North America lithium-ion battery market based on lithium cobalt oxide (lco), lithium iron phosphate (lifepo4), lithium nickel cobalt aluminum oxide (nca), lithium manganese oxide (lmo), lithium titanate (lto), lithium nickel manganese cobalt (nmc) covering the revenue growth of each sub-segment from 2018 to 2030.
The construction industry in North America is expected to witness prominent growth owing to the high demand for non-residential construction projects like colleges, schools, and hospitals over the coming years.
Favorable demographic trends such as a growing population are expected to result in the construction of more offices, industrial plants, schools, and colleges, which, in turn, is likely to fuel the demand for UPS in the construction sector.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America lithium-ion battery market , including forecasts for subscribers. This continent databook contains high-level insights into North America lithium-ion battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America lithium-ion battery market size, by country, 2018-2030 (US$M)
North America Lithium-ion Battery Market Outlook Share, 2023 & 2030 (US$M)
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