North America Electric Vehicle Battery Market Outlook, 2027

North America Electric vehicle battery market is expected grow with the CAGR of more than 24% by 2027. Almost 80% market share is occupied by United States.

Featured Companies

  • 1. BYD Company Limited
  • 2. Clarios
  • 3. Contemporary Amperex Technology Corporation Limited
  • 4. GS Yuasa International Limited
  • 5. LG Chem Limited
  • 6. Samsung SDI Co. Limited
  • More...

Electric vehicle battery is a tool to power the electric motors of battery electric vehicles or hybrid electric vehicle. Electronic batteries are made up of a number of cells which are inserted into a module to provide protection from external shocks such as heat or vibration. EV battery provides high power and high density ratio which allows consumer to have optimal driving range. Based on the type, EV battery is segmented into major two parts including Lithium Ion battery and Lead Acid battery. In which Lithium Ion battery is expected to account the largest market share in North America region. Li-Ion battery is mainly attributed to its higher energy density ratio, light weight feature, durability and compactness. Various manufacturers are partnering with battery original equipment manufacturer (OEM) to protect the supply chain of existing and upcoming electric vehicle battery and their innovations. In 2021, Retriev Technologies Inc (Market leader for North American battery reclining industry) and Marubeni Corporation signed a partnership agreement. Both the companies have mutual point of view in the direction to develop a new circular business for end of life Lithium ion batteries.

According to the research report “North America Electric Vehicle Battery Market Outlook, 2027" published by Bonafide Research, the electric vehicle battery market is growing rapidly. North America Electric vehicle battery market is expected grow with the CAGR of more than 24% by 2027. By the country, North America region is segmented into three major sections which are United States, Canada and Mexico. The United States is expected to acquire more market share in North America region. From the overall market share, nearly 80% market share is occupied by United States. Rising adoption of the electric vehicles in this region is considered to be the important attribute for the large market share. Increasing investments in EV battery developments and appropriate presence of the raw materials for the production of the cobalt and Lithium are the enhanced factors to support the increasing demand of electric vehicles. Similarly Canada is also forecasted to witness a decent growth in upcoming years.

In this region again there are many initiatives taken by battery manufacturers for improving battery standards. Raw materials are also present with improvising amount which makes it easier to manufacture and develop batteries. In Canada, Martinrea (an auto car manufacturer) and NanoXplore (graphene producer) partnered up for a joint venture called VoltaXplore. This is responsible to manufacture EV batteries with improved charging time, longevity, range and the ability to operate at lower temperatures. This manufacturing plant has the capacity to produce 1000 batteries per day.

As per the report, North America is segmented into three types based on the propulsion technology which are BEV (battery electric vehicle), PHEV (Plug-in electric vehicle battery) and HEV (hybrid electric vehicle). BEV and PHEV, both the segments presents particular amount of market share. BEV is forecasted to have major part of the overall market share for the electric battery market. Due to lack of charging stations present in this region, PHEV shows low amount of market share with respect to other two regions. Based on the vehicle type, North America electric vehicle battery market is segmented into two parts which are Passenger vehicles and commercial vehicles. In this region, Passenger type of electric vehicle is leading the market share. Due to lack of awareness and low adaption rate of the commercial electric vehicles, this segment is showing very low amount of market share with slow progression rate.

The COVID-19 pandemic resulted into disrupted supply chains, limited operations and workforce with major factory closures. That directed to severe decline in electric vehicle sales, which directly affected the sales of batteries as well as production of batteries. In North America, US is considered to get affected severely by the pandemic causing significant damages in terms of life, economy and resources. In the first and second quarter of 2020, electric vehicle sales were fallen, which affected the sales of EV batteries in North America. With this, the cost of electric batteries was also fallen drastically. To overcome the situation, government took some initiatives in stabilizing the automotive industry which became the key factor to trigger the adoption rate of EV. For instance, in June 2021, the US Department of Energy announced 200 million dollars funding over the next five years for electric vehicles, batteries and connected vehicle projects. Canada and Mexico government also invested over 1 billion dollars to support increased zero-emission vehicle adoption. These initiatives are expected to boost the North American EV batteries market.

Major Companies present in the market
NOHMs Technologies, Inc. (U.S.), QuantumScape Corporation (U.S.), American Battery Solutions, Inc. (U.S.), Clarios (U.S.), Romeo Power, Inc. (U.S.), and Electrovaya Inc. (Canada), Enersys Inc.(U.S.), Energizer Holdings Inc.(U.S.) and Panasonic Corporation (U.S.)

Considered in this report
• Geography: Global
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• North America electric vehicle battery market with its value and forecast along with its segments
• Country-wise electric vehicle battery market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report
• United States of America
• Canada
• Mexico

Types of batteries in the report
• Lithium-Ion battery
• Lead Acid battery
• Others (Nickel Metal Hybrid battery, Sodium Ion battery and Solid state)

By Propulsion Type in the report:
• Battery Electric Vehicle
• Plug-In Hybrid Electric Vehicle
• Hybrid Electric Vehicle

Type of Vehicle in the report:
• Passenger Vehicle
• Commercial Vehicle

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to EV battery industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Companies Mentioned

  • BYD Company Limited
  • Clarios
  • Contemporary Amperex Technology Corporation Limited
  • GS Yuasa International Limited
  • LG Chem Limited
  • Samsung SDI Co. Limited
  • A123 Systems LLC (Subsidiary Of Wanxiang Group Corporation)
  • Beijing Pride Power Battery Technology Co Limited
  • Altair Nanotechnologies Inc.
  • Aptiv Plc
  • Enersys (Quallion LLC)

Table of Contents

  • Table of Contents
  • 1. Executive Summary
  • 2. Report Methodology
  • 3. Market Structure
  • 3.1. Market Considerate
  • 3.2. Market Definition
  • 4. Economic /Demographic Snapshot
  • 5. Global Electric Vehicle Battery Market Outlook
  • 5.1. Market Size By Value
  • 5.2. Market Share
  • 5.2.1. By Region
  • 5.2.2. By Propulsion Type
  • 5.2.3. By Battery Type
  • 5.2.4. By Vehicle Type
  • 5.2.5. By Company
  • 5.2.6. By Country
  • 6. North America Electric Vehicle Battery Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share
  • 6.2.1. By Country
  • 6.2.2. By Propulsion Type
  • 6.2.3. By Battery Type
  • 6.2.4. By Vehicle Type
  • 6.3. US Electric Vehicle Battery Market Outlook
  • 6.3.1. Market Size By Value
  • 6.3.2. Market Share
  • 6.3.2.1. By Battery Type
  • 6.3.2.2. By Propulsion Type
  • 6.4. Canada Electric Vehicle Battery Market Outlook
  • 6.4.1. Market Size By Value
  • 6.4.2. Market Share
  • 6.4.2.1. By Battery Type
  • 6.4.2.2. By Propulsion Type
  • 6.5. Mexico Electric Vehicle Battery Market Outlook
  • 6.5.1. Market Size By Value
  • 6.5.2. Market Share
  • 6.5.2.1. By Battery Type
  • 6.5.2.2. By Propulsion Type
  • 7. Market Dynamics
  • 7.1. Key Drivers
  • 7.2. Key Challenges
  • 8. Market Trends and Developments
  • 8.1. XXXX
  • 8.2. XXXX
  • 8.3. XXXX
  • 8.4. XXXX
  • 8.5. XXXX
  • 9. Company Profiles
  • 9.1. Contemporary Amperex Technology Co. Limited
  • 9.2. LG Chem Limited
  • 9.3. BYD Company Limited
  • 9.4. Samsung SDI Co. Limited
  • 9.5. Clarios (US) Formerly Know Johnson controls inc
  • 9.6. GS Yuasa International Limited
  • 9.7. A123 Systems LLC (Subsidiary Of Wanxiang Group Corporation)
  • 9.8. Beijing Pride Power Battery Technology Co Limited
  • 9.9. Altair Nanotechnologies Inc.
  • 9.10. Aptiv Plc
  • 9.11. Vehicle Energy Japan Co. Ltd. (Under Hitachi Automotive Systems, Limited)
  • 10. Strategic Recommendations
  • 11. Disclaimer

List of Tables
Table 1: Top 10 Counties Economic Snapshot 2020
Table 2: Economic Snapshot of Other Prominent Countries 2020
Table 3: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 4: Global Electric Vehicle Battery Market Share By Region (2016, 2021&2027F)
Table 5: Global Electric Vehicle Battery Market Share By Battery Type (2016, 2021 &2027F)
Table 6: Global Electric Vehicle Battery Market Share By Company (2020)
Table 7: Global Electric Vehicle Battery Market Share By Country (2016, 2021&2027F)
Table 8: North America Electric Vehicle Battery Market Share By Country (2016, 2021 &2027F)
Table 9: North America Electric Vehicle Battery Market Share By Battery Type (2016, 2021 &2027F)
Table 10: US Electric Vehicle Battery Market Share By Battery Type (2016, 2021 &2027F)
Table 11: Canada Electric Vehicle Battery Market Share By Battery Type (2016, 2021 &2027F)
Table 12: Mexico Electric Vehicle Battery Market Share By Battery Type (2016, 2021 &2027F)
Table 13: Key Facts of Contemporary Amperex Technology Co., Limited
Table 14: Key Facts of LG Chem Limited
Table 15: Key Facts of BYD Company Limited
Table 16: Key Facts of Samsung SDI Co. Limited
Table 17: Key Facts of Clarios (US) Formerly Know Johnson controls inc
Table 18: Key Facts of GS Yuasa International Limited
Table 19: Key Facts of A123 Systems LLC (Subsidiary Of Wanxiang Group Corporation)
Table 20: Key Facts of Beijing Pride Power Battery Technology Co Limited
Table 21: Key Facts of Altair Nanotechnologies Inc.
Table 22: Key Facts of Aptiv Plc
Table 23: Key Facts of Vehicle Energy Japan Co. Ltd. (Under Hitachi Automotive Systems, Limited)
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List of Figures
Figure 1: Global Electric Vehicle Battery Market Size By Value2016 to 2027F (In USD Million)
Figure 2: Global Electric Vehicle Battery Market Share By Propulsion Type (2016, 2021&2027F)
Figure 3: Global Electric Vehicle Battery Market Share By Vehicle Type (2016, 2021&2027F)
Figure 4: North America Electric Vehicle Battery Market Size By Value2016 to 2027F (In USD Million)
Figure 5: North America Electric Vehicle Battery Market Share By Propulsion Type (2016, 2021&2027F)
Figure 6: North America Electric Vehicle Battery Market Share By Vehicle Type (2016, 2021&2027F)
Figure 7: US Electric Vehicle Battery Market Size By Value2016 to 2027F (In USD Million)
Figure 8: US Electric Vehicle Battery Market Share By Propulsion Type (2016, 2021&2027F)
Figure 9: Canada Electric Vehicle Battery Market Size By Value2016 to 2027F (In USD Million)
Figure 10: Canada Electric Vehicle Battery Market Share By Propulsion Type (2016, 2021&2027F)
Figure 11: Mexico Electric Vehicle Battery Market Size By Value2016 to 2027F (In USD Million)
Figure 12: Mexico Electric Vehicle Battery Market Share By Propulsion Type (2016, 2021&2027F)
Figure 13: Market Attractiveness Index, 2021
Figure 14: Market Attractiveness Index, 2027F

Feed Phosphate Market Research FAQs

The electric vehicle battery market in North America is expected to grow at CAGR of more than 24.37% in value terms in forecast period.

Lithium ion segment is leading the market with more than 80% in value market share in North America.

USA is dominating the market with more than 80% market share in North America.

Battery electric vehicle is leading the market with more than 60% market share in North America.


NOHMs Technologies, Inc., QuantumScape Corporation, American Battery Solutions, Inc., Clarios are some of the major players with highest market share in North America.

Passenger type of vehicle is leading the market with more than 92% market share in North America.
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North America Electric Vehicle Battery Market Outlook, 2027

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