United States Electric Vehicle Battery Market Growth, Size, Trends, Demand and Future Outlook
United States Electric Vehicle Battery Market Size- By Battery Type, By Battery Capacity, By Pack Type, By Vehicle Type, By Vehicle Category, By Sales Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jun-2024 | Report ID: AMIN24137 | Pages: 1 - 104 | Formats*: |
| Category : Automotive & Transportation | |||
United States Electric Vehicle Battery Market Introduction and Overview
According to SPER Market Research, the United States Electric Vehicle Battery Market is estimated to reach USD 10.08 billion by 2033 with a CAGR 5.68%.
The report includes an in-depth analysis of the United States Electric Vehicle Battery Market, including market size and trends, product mix, distribution channels, and supplier analysis. The batteries within electric vehicles (EVs), also referred to as EV batteries, are what power the propulsion systems of EVs and allow them to run independently of conventional internal combustion engines. Lithium-ion cells, which chemically store electrical energy and release it to power the vehicle's electric motor, are the usual components of these batteries. The quantity and efficiency of an electric vehicle's battery pack have a significant impact on its performance and range. When designing and producing batteries, factors like energy density, charging speed, and longevity are vital to take into account.
Market Opportunities and Challenges
Opportunities: Sales of batteries for electric vehicles are expected to be impacted by rising demands for high-energy-density batteries, greener and renewable power generation technologies, and innovative products. Additionally, the market for electric car batteries is being positively impacted by the increased demand for zero-emission vehicles, rising fuel costs, stricter pollution regulations, and the depletion of fossil fuel supplies. Over the past ten years, the price of batteries for electric vehicles has decreased. For example, the price of lithium-ion batteries has decreased by around 97% over the last 30 years, according to the Global Change Data Lab. Since lithium-ion batteries are among the most widely used batteries in electric vehicles, it is expected that their decreasing costs would have an impact on the uptake of EVs and present profitable growth opportunities for Market Growth.
Challenges: Recycling became more expensive and difficult as a result of the limitations the US government imposed on reducing pollution. In order to detect lead emission, recycling companies functioning in the market operate in highly automated, tightly sealed facilities equipped with several sensors and smokestack scrubbers. Market expansion is restrained by the difficulty and expense of adhering to these standards.
Market Competitive Landscape
The Electric Vehicle Battery market in US slightly consolidated. Some of the market key players are Crown Battery Corporation, Tesla Motors Inc, Wanxiang Group Corporation, General Motors, Romeo Power Inc, Panasonic Corporation, EnerSys, Toshiba America Electronic Components Inc, East Penn Manufacturing Co, Clarios LLC, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Battery Type, By Battery Capacity, By Pack Type, By Vehicle Type, By Vehicle Category, By Sales Channel |
| Regions covered | Eastern, Western, Northern, Southern |
| Companies Covered | Crown Battery Corporation, Tesla Motors Inc, Wanxiang Group Corporation, General Motors, Romeo Power Inc, Panasonic Corporation, EnerSys, Toshiba America Electronic Components Inc, East Penn Manufacturing Co, Clarios LLC, Others. |
COVID-19 Impact on United States Electric Vehicle Battery Market
The market expansion for EV batteries was significantly impacted by the COVID-19 epidemic. The epidemic hindered the mining of elements including lithium, cobalt, nickel, and aluminum, which caused a delay in battery production. Additionally, the lack of raw materials caused supply chains and manufacturing facilities to become disrupted, which ultimately led to a drop in the sales of electric vehicles.
Key Target Audience
- Automotive Manufacturers
- Battery Manufacturers
- Electric Vehicle Owners
- Government Agencies and Regulators
- Energy and Utility Companies
- Research Institutions and Academia
- Environmental Organizations
- Investors and Financial Institutions
Our in-depth analysis of the United States Electric Vehicle Battery Market includes the following segments:
| By Battery Type: |
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| By Battery Capacity: |
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| By Pack Type: |
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| By Vehicle Type: |
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| By Vehicle Category: |
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Key Topics Covered in the Report
- United States Electric Vehicle Battery Market Size (FY’2024-FY’2033)
- Overview of United States Electric Vehicle Battery Market
- Segmentation of United States Electric Vehicle Battery Market By Battery Type (Lithium-ion Batteries, Lead Acid Batteries, Nickel Hydride batteries, Others)
- Segmentation of United States Electric Vehicle Battery Market By Battery Capacity (Less than 25 kWh, 25 to 50 kWh, 51 to 100 kWh, More than 100 kwh)
- Segmentation of United States Electric Vehicle Battery Market By Pack Type (Prismatic, Cylindrical, Pouches)
- Segmentation of United States Electric Vehicle Battery Market By Vehicle Type (Hybrid Electric Vehicles, Plug-in-Hybrid Electric Vehicles, Battery Electric Vehicles)
- Segmentation of United States Electric Vehicle Battery Market By Vehicle Category (Two Wheelers, Passenger vehicles, Commercial Vehicles)
- Segmentation of United States Electric Vehicle Battery Market By Sales Channel (OEMs, Aftermarket)
- Expansion Analysis of United States Electric Vehicle Battery Market
- Problems and Obstacles in United States Electric Vehicle Battery Market
- Competitive Landscape in the United States Electric Vehicle Battery Market
- Impact of COVID-19 and Demonetization on United States Electric Vehicle Battery Market
- Details on Current Investment in United States Electric Vehicle Battery Market
- Competitive Analysis of United States Electric Vehicle Battery Market
- Prominent Players in the United States Electric Vehicle Battery Market
- SWOT Analysis of United States Electric Vehicle Battery Market
- United States Electric Vehicle Battery Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the United States Electric Vehicle Battery Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United States Electric Vehicle Battery Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United States Electric Vehicle Battery Market
7. United States Electric Vehicle Battery Market, By Battery Type (USD Million) 2020-2033
7.1. United States Electric Vehicle Battery Market Size, Share and Forecast, By Battery Type, 2020-20267.2. United States Electric Vehicle Battery Market Size, Share and Forecast, By Battery Type, 2027-20337.3. Lithium-ion Batteries7.4. Lead Acid Batteries7.5. Nickel Hydride batteries7.6. Others
8. United States Electric Vehicle Battery Market, By Battery Capacity (USD Million) 2020-2033
8.1. United States Electric Vehicle Battery Market Size, Share and Forecast, By Battery Capacity, 2020-20268.2. United States Electric Vehicle Battery Market Size, Share and Forecast, By Battery Capacity, 2027-20338.3. Less than 25 kWh8.4. 25 to 50 kWh8.5. 51 to 100 kWh8.6. More than 100 kwh
9. United States Electric Vehicle Battery Market, By Pack Type (USD Million) 2020-2033
9.1. United States Electric Vehicle Battery Market Size, Share and Forecast, By Pack Type, 2020-20269.2. United States Electric Vehicle Battery Market Size, Share and Forecast, By Pack Type, 2027-20339.3. Prismatic9.4. Cylindrical9.5. Pouches
10. United States Electric Vehicle Battery Market, By Vehicle Type (USD Million) 2020-2033
10.1. United States Electric Vehicle Battery Market Size, Share and Forecast, By Vehicle Type, 2020-202610.2. United States Electric Vehicle Battery Market Size, Share and Forecast, By Vehicle Type, 2027-203310.3. Hybrid Electric Vehicles10.4. Plug-in-Hybrid Electric Vehicles10.5. Battery Electric Vehicles
11. United States Electric Vehicle Battery Market, By Vehicle Category (USD Million) 2020-2033
11.1. United States Electric Vehicle Battery Market Size, Share and Forecast, By Vehicle Category, 2020-202611.2. United States Electric Vehicle Battery Market Size, Share and Forecast, By Vehicle Category, 2027-203311.3. Two Wheelers11.4. Passenger vehicles11.5. Commercial Vehicles
11.5.1. LCVs11.5.2. HCVs11.5.3. Buses
12. United States Electric Vehicle Battery Market, By Sales Channel (USD Million) 2020-2033
12.1. United States Electric Vehicle Battery Market Size, Share and Forecast, By Sales Channel, 2020-202612.2. United States Electric Vehicle Battery Market Size, Share and Forecast, By Sales Channel, 2027-203312.3. OEMs12.4. Aftermarket
13. United States Electric Vehicle Battery Market Forecast, 2020-2033 (USD Million)
13.1. United States Electric Vehicle Battery Market Size and Market Share
14. United States Electric Vehicle Battery Market, By Region, 2020-2033 (USD Million)
14.1. United States Electric Vehicle Battery Market Size and Market Share By Region (2020-2026)14.2. United States Electric Vehicle Battery Market Size and Market Share By Region (2027-2033)14.3. Eastern14.4. Western14.5. Northern14.6. Southern
15. Company Profile
15.1. Crown Battery Corporation
15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments
15.2. Tesla Motors Inc
15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments
15.3. Wanxiang Group Corporation
15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments
15.4. General Motors
15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments
15.5. Romeo Power Inc
15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments
15.6. Panasonic Corporation
15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments
15.7. EnerSys
15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments
15.8. Toshiba America Electronic Components Inc
15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments
15.9. East Penn Manufacturing Co
15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments
15.10. Clarios LLC
15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments
15.11. Others
16. Conclusion
17. Reference Links
18. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
United States Electric Vehicle Battery Market is projected to reach USD 10.08 billion by 2033, growing at a CAGR of 5.68% during the forecast period.
United States Electric Vehicle Battery Market grew in Market size from 2022. The Market is expected to reach USD 10.08 billion by 2033, at a CAGR of 5.68% during the forecast period.
United States Electric Vehicle Battery Market CAGR of 5.68% during the forecast period.
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United States Electric Vehicle Battery Market size is USD 10.08 billion from 2024 to 2033.
United States Electric Vehicle Battery Market Segment is covered By Battery Type, By Battery Capacity, By Pack Type, By Vehicle Type, By Vehicle Category, By Sales Channel.
The North America is anticipated to have the highest Market share in the United States Electric Vehicle Battery Market.
The key players in the Market include Companies Covered Crown Battery Corporation, Tesla Motors Inc, Wanxiang Group Corporation, General Motors, Romeo Power Inc, Panasonic Corporation, EnerSys, Toshiba America Electronic Components Inc, East Penn Manufacturing Co, Clarios LLC, Others.
The batteries within electric vehicles (EVs), also referred to as EV batteries, are what power the propulsion systems of EVs and allow them to run independently of conventional internal combustion engines.
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