U.S. Lithium-ion Battery Market Size & Outlook, 2023-2030
U.S. lithium-ion battery market, 2018-2030 (US$M)
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U.S. lithium-ion battery market highlights
- The U.S. lithium-ion battery market generated a revenue of USD 87.8 million in 2023 and is expected to reach USD 526.9 million by 2030.
- The U.S. market is expected to grow at a CAGR of 29.2% 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.
Lithium-ion battery market data book summary
| Market revenue in 2023 | USD 87.8 million |
| Market revenue in 2030 | USD 526.9 million |
| Growth rate | 29.2% (CAGR from 2023 to 2030) |
| Largest segment | Lithium nickel manganese cobalt (nmc) |
| Fastest growing segment | Lithium Iron Phosphate (LiFePO4) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, U.S. accounted for 18.8% of the global lithium-ion battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. lithium-ion battery market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 126.6 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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U.S. 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 33.83% in 2023. Horizon Databook has segmented the U.S. 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.
Demand for lithium-ion batteries is anticipated to increase in the U.S. in the coming years due to rising sales of electric vehicles in the country as a result of favorable federal legislation and the presence of market players in the country.
Federal policies include the American Recovery and Reinvestment Act of 2009, which provides tax credits for consumers who buy electric vehicles.
The new corporate average fuel economy (CAFE) standard governing the fuel economy of passenger cars and light commercial vehicles on U.S. roads has led to a surge in the adoption of electric vehicles in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. lithium-ion battery market , including forecasts for subscribers. This country databook contains high-level insights into U.S. lithium-ion battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. lithium-ion battery market outlook size, by product, 2018-2030 (US$M)
U.S. Lithium-ion Battery Market Outlook Share, 2023 & 2030 (US$M)
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