North America EV Battery Pack Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 12.66 Billion |
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Market Size (2029) | USD 33.94 Billion |
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Largest Share by Propulsion Type | BEV |
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CAGR (2024 - 2029) | 21.80 % |
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Largest Share by Country | US |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America EV Battery Pack Market Analysis
The North America EV Battery Pack Market size is estimated at 12.66 billion USD in 2024, and is expected to reach 33.94 billion USD by 2029, growing at a CAGR of 21.80% during the forecast period (2024-2029).
12.66 Billion
Market Size in 2024 (USD)
33.94 Billion
Market Size in 2029 (USD)
34.72 %
CAGR (2017-2023)
21.80 %
CAGR (2024-2029)
Largest Segment by Body Type
55.70 %
value share, LCV, 2023
Passenger cars lead the market driven by government incentives and benefits of cars such as increasing awareness, lower emissions & lower operating costs.
Largest Segment by Propulsion Type
99.14 %
value share, BEV, 2023
BEVs hold the largest segment, powered solely by electric energy with advancements in technology, range, and charging infrastructure.
Largest Segment by Battery Chemistry
37.62 %
value share, NCM, 2023
NMC batteries dominate the market because of their high safety, long cycle life, and low cost in North America Electric Vehicle Battery Pack Market.
Largest Segment by Battery Form
60.60 %
value share, Cylindrical, 2023
Cylindrical batteries dominate the North America ECV battery pack market, offering compact design, efficient space utilization, and enhanced performance.
Leading Market Player
45.50 %
market share, LG Energy Solution Ltd., 2022
LG Energy Solution supplies batteries to major OEMs like Tesla and General Motors, with facilities across North America for manufacturing, R&D, and sales.
Battery manufacturing plants are expected to fuel the growth of the North American electric vehicle industry
- From 2017 to 2023, there has been a significant increase in the production and adoption of electric vehicles in North America. In 2017, the total number of electric vehicles produced in North America was approximately 200,000, which increased to over 400,000 in 2022. This growth can be attributed to various factors, including government incentives, lower battery prices, and increased consumer awareness. Research and development efforts in the electric vehicle industry have also been increasing in recent years.
- The electric vehicle battery pack market in North America is experiencing significant growth, largely driven by government subsidies and incentive programs. In recent years, there has been a marked increase in the adoption of electric vehicles due to these programs, which aim to promote the use of environmentally friendly transportation. For instance, the US government has introduced tax credits of up to USD 7,500 for the purchase of electric vehicles, making them more affordable and accessible to a wider audience.
- Further, the development of battery manufacturing plants is critical to the growth of the EV market in North America. Currently, most EV batteries are manufactured in Asia, primarily in China and South Korea. However, there are plans to build more battery manufacturing plants in North America, which will help to reduce the region's reliance on imported batteries and support the growth of the local EV industry. According to a report by Bloomberg New Energy Finance, North America is expected to invest USD 360 billion in EV infrastructure by 2040 as the region seeks to reduce its carbon emissions and transition to cleaner transportation. Overall, the future of electric vehicles and battery packs in North America is promising.
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Government support and investments driving electric vehicle adoption in the United States and Canada
- The North American electric vehicle (EV) battery pack market has witnessed robust growth in recent years, with both the United States and Canada seeing a surge in EV adoption. This uptick can be attributed to several factors, including government incentives, tightening emission regulations, growing environmental consciousness among consumers, and advancements in charging infrastructure.
- At various levels, governments across North America have been rolling out policies and incentives to spur EV adoption. These initiatives encompass tax credits, grants, rebates, and investments in charging infrastructure. Such support has bolstered consumer interest in EVs, thereby driving the demand for battery packs. Notably, major automakers and battery manufacturers are ramping up their production capacities for EV battery packs in the regional market. Tesla, for instance, operates its gigafactory in Nevada, United States, which is solely dedicated to battery production. Other industry giants like General Motors, Ford, and Volkswagen have also unveiled plans to establish their own domestic battery production facilities.
- Continued R&D endeavors in battery technology are focused on enhancing energy density, cost reduction, and extending the range of EVs. Innovations like solid-state batteries, rapid-charging capabilities, and prolonged battery life are poised to propel the market further. Additionally, the availability of key battery materials is a crucial factor. North America boasts substantial reserves of vital materials like lithium, nickel, and cobalt, which can bolster localized production and supply chain activities over the coming years.
North America EV Battery Pack Market Trends
The major players in the North American electric vehicle market include Tesla, Toyota, Ford, Hyundai, and Honda
- The North American electric vehicle market is majorly driven by the five major players, accounting for more than 70% of the market in 2023. These prominent players include Tesla, Toyota Group, Ford Group, Hyundai, and Honda. Tesla is the highest seller of electric vehicles in the various North American countries, accounting for around 33% of the market. The company focuses on strong innovation technologies and has strong strategic partnerships with various EV components (such as a battery) manufacturers. Being a US-based company, it has a strong customer base with great product and service offerings in major countries like the United States and Canada across North America.
- Toyota Group is the second largest seller of electric vehicles, accounting for around 30.8% market share across North America. The company has a strong supply chain and distribution network. Toyota has a reliable brand image among its customers. It ranks third in EV sales across various countries in North America. Ford Group acquired it with around 9.9% of the market share. The company has a large customer base in North American countries due to its strong brand image and diverse offerings.
- Hyundai is the fourth largest player, acquiring around 5.48% of the market share in EV sales across North America. The company has a strong production and supply chain network, with wide innovative and diverse products offered for various types of customers looking from reasonable to premium pricing. The fifth-largest player operating in the EV market is Honda, maintaining its market share at around 5.22%. Some of the other players selling EVS in North America include Jeep, Chevrolet, BMW, and Volvo.
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The United States was the largest market with huge EV demand and captured more than 60% of the battery pack market across the region in 2023
- In 2023, the demand for batteries surged as the number of electric vehicles steadily climbed across several North American countries. Many other brands and models are sold in the region, but the top five models in 2023, the Tesla Model Y, Tesla Model 3, Toyota Rav 4, Toyota Sienna, and Honda CRV, acquired a significant portion of the market. With 247,344 units sold in the United States in 2023, the Tesla Model Y maintained its top spot. The Model Y is very well-liked because of its long range, strong seating capacity, and huge luggage capacity.
- The Tesla Model 3 took second place with 215,500 sales in the United States in 2023. The rear-wheel drive and performance versions of the vehicle are available. Due to its strong performance characteristics, Model 3 is drawing customers. The Toyota Rav4 took third position in electric car sales, with sales of 149,938 in the United States and throughout North America. The vehicle has plug-in hybrid technology and several ADAS features, including Toyota Safety Sense.
- The Toyota Sienna has acquired fourth place in the electric vehicle models’ sales, with 69,720 in the United States. The car comes with the option of a 2.5 l engine with a hybrid powertrain. Consumers with big families looking for seven-seater cars have positively responded to the Toyota Sienna. The fifth place was acquired by the Honda CRV, selling 69,720 units in 2023 in the United States. Other top-selling models include Toyota Highlander, Jeep Wrangler, Toyota Camry, Honda Accord, and Ford Mustang Mach-E.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Surging demand for electric vehicles in North America is driven by government support and growing environmental concerns
- Declining prices of lithium-ion batteries drive the demand for electric vehicles in North America
- Battery prices in North America may continue to decline through 2029, driven by advancements in technology, increasing production efficiency, and rising demand for electric vehicles and renewable energy
- Rising demand for electric vehicles spurs new product launches and market entry in North America, driving battery pack demand
- The dominance of NMC batteries, along with the growing adoption of NCA, LFP, and NCM chemistries in the EV battery market in North America
- Rising electric vehicle sales drive increased demand for battery materials in North America
- Increasing demand and advancements in battery technology drive the growth of electric vehicles in North America
North America EV Battery Pack Industry Overview
The North America EV Battery Pack Market is fairly consolidated, with the top five companies occupying 91.30%. The major players in this market are Contemporary Amperex Technology Co. Ltd. (CATL), Envision AESC Japan Co. Ltd., LG Energy Solution Ltd., Panasonic Holdings Corporation and SK Innovation Co. Ltd. (sorted alphabetically).
North America EV Battery Pack Market Leaders
Contemporary Amperex Technology Co. Ltd. (CATL)
Envision AESC Japan Co. Ltd.
LG Energy Solution Ltd.
Panasonic Holdings Corporation
SK Innovation Co. Ltd.
Other important companies include A123 Systems LLC, ACDELCO (Subsidiary Of General Motors), American Battery Solutions Inc., Clarios International Inc., Electrovaya Inc., Nikola Corporation, QuantumScape Corp..
*Disclaimer: Major Players sorted in alphabetical order.
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North America EV Battery Pack Market News
- June 2023: CATL announced that it launched Qiji Energy, a battery swap solution for heavy-duty trucks. The solution consists of Qiji Swapping Electric Blocks, Qiji Battery Swap Station, and Qiji Cloud Platform. Based on the CATL’s 3rd-generation LFP battery chemistry, Qiji Swapping Electric Blocks adopt the innovative NP (Non Propagation) technology and CTP (cell-to-pack) technology, striking a balance between safety and usage costs. Qiji Battery Swap Station enables one-stop swapping for different truck models and brands.
- January 2023: Shinhan Securities Co., Ltd. has signed an MOU with SK On Co., Ltd. (SK On) on an investment alliance for a secondary battery ecosystem.
- December 2022: Contemporary Amperex Technology Co., Limited (CATL) and Gresham House Energy Storage Holdings plc recently entered into a long-term agreement on the supply of up to 7.5 GWh of battery energy storage systems (BESS).
Free with this Report
Our comprehensive data set offers over 120 free charts, providing detailed regional and country-level insights into the EV battery pack industry. This includes analyses of distribution and production centers, variations in average selling prices (ASPs) across different regions, and a deep dive into industry trends like demand shifts and technological innovations. We also offer a thorough market segmentation, examining different battery chemistries, capacities, and form factors, alongside an in-depth understanding of market trends such as the adoption of advanced technologies and the impact of environmental regulations. Additionally, we provide an overview of major industry players, a look at the regulatory landscape, and market size analysis in terms of revenue and volume, all culminating in projections and forecasts that consider emerging trends and potential industry shifts.
North America EV Battery Pack Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Electric Vehicle Sales
- 4.2 Electric Vehicle Sales By OEMs
- 4.3 Best-selling EV Models
- 4.4 OEMs With Preferable Battery Chemistry
- 4.5 Battery Pack Price
- 4.6 Battery Material Cost
- 4.7 Price Chart Of Different Battery Chemistry
- 4.8 Who Supply Whom
- 4.9 EV Battery Capacity And Efficiency
- 4.10 Number Of EV Models Launched
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4.11 Regulatory Framework
- 4.11.1 Canada
- 4.11.2 Mexico
- 4.11.3 US
- 4.12 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Body Type
- 5.1.1 Bus
- 5.1.2 LCV
- 5.1.3 M&HDT
- 5.1.4 Passenger Car
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5.2 Propulsion Type
- 5.2.1 BEV
- 5.2.2 PHEV
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5.3 Battery Chemistry
- 5.3.1 LFP
- 5.3.2 NCA
- 5.3.3 NCM
- 5.3.4 NMC
- 5.3.5 Others
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5.4 Capacity
- 5.4.1 15 kWh to 40 kWh
- 5.4.2 40 kWh to 80 kWh
- 5.4.3 Above 80 kWh
- 5.4.4 Less than 15 kWh
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5.5 Battery Form
- 5.5.1 Cylindrical
- 5.5.2 Pouch
- 5.5.3 Prismatic
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5.6 Method
- 5.6.1 Laser
- 5.6.2 Wire
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5.7 Component
- 5.7.1 Anode
- 5.7.2 Cathode
- 5.7.3 Electrolyte
- 5.7.4 Separator
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5.8 Material Type
- 5.8.1 Cobalt
- 5.8.2 Lithium
- 5.8.3 Manganese
- 5.8.4 Natural Graphite
- 5.8.5 Nickel
- 5.8.6 Other Materials
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5.9 Country
- 5.9.1 Canada
- 5.9.2 US
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 A123 Systems LLC
- 6.4.2 ACDELCO (Subsidiary Of General Motors)
- 6.4.3 American Battery Solutions Inc.
- 6.4.4 Clarios International Inc.
- 6.4.5 Contemporary Amperex Technology Co. Ltd. (CATL)
- 6.4.6 Electrovaya Inc.
- 6.4.7 Envision AESC Japan Co. Ltd.
- 6.4.8 LG Energy Solution Ltd.
- 6.4.9 Nikola Corporation
- 6.4.10 Panasonic Holdings Corporation
- 6.4.11 QuantumScape Corp.
- 6.4.12 SK Innovation Co. Ltd.
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR EV BATTERY PACK CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- ELECTRIC VEHICLE SALES, BY BODY TYPE, UNITS, NORTH AMERICA, 2017 - 2029
- Figure 2:
- ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, NORTH AMERICA, 2023
- Figure 3:
- ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, NORTH AMERICA, 2023
- Figure 4:
- BEST-SELLING EV MODELS, UNITS, NORTH AMERICA, 2023
- Figure 5:
- OEMS MARKET SHARE BY ELECTRIC VEHICLE BATTERY CHEMISTRY, VOLUME %, NORTH AMERICA, 2023
- Figure 6:
- ELECTRIC VEHICLE BATTERY CELL AND PACK PRICE, USD, NORTH AMERICA, 2017 - 2029
- Figure 7:
- ELECTRIC VEHICLE KEY BATTERY MATERIAL PRICE, BY MATERIAL, USD, NORTH AMERICA, 2017 - 2029
- Figure 8:
- ELECTRIC VEHICLE BATTERY PRICE, BY BATTERY CHEMISTRY, USD, NORTH AMERICA, 2017 - 2029
- Figure 9:
- EV BATTERY PACK CAPACITY AND EFFICIENCY, KM/KWH, NORTH AMERICA, 2023
- Figure 10:
- UPCOMING EV MODELS, BY BODY TYPE, UNITS, NORTH AMERICA, 2023
- Figure 11:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, KWH, NORTH AMERICA, 2017 - 2029
- Figure 12:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, USD, NORTH AMERICA, 2017 - 2029
- Figure 13:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY BODY TYPE, KWH, NORTH AMERICA, 2017 - 2029
- Figure 14:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY BODY TYPE, USD, NORTH AMERICA, 2017 - 2029
- Figure 15:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VOLUME SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 16:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 17:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY BUS, KWH, NORTH AMERICA, 2017 - 2029
- Figure 18:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY BUS, USD, NORTH AMERICA, 2017 - 2029
- Figure 19:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 20:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY LCV, KWH, NORTH AMERICA, 2017 - 2029
- Figure 21:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY LCV, USD, NORTH AMERICA, 2017 - 2029
- Figure 22:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 23:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY M&HDT, KWH, NORTH AMERICA, 2017 - 2029
- Figure 24:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY M&HDT, USD, NORTH AMERICA, 2017 - 2029
- Figure 25:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 26:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY PASSENGER CAR, KWH, NORTH AMERICA, 2017 - 2029
- Figure 27:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY PASSENGER CAR, USD, NORTH AMERICA, 2017 - 2029
- Figure 28:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 29:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY PROPULSION TYPE, KWH, NORTH AMERICA, 2017 - 2029
- Figure 30:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY PROPULSION TYPE, USD, NORTH AMERICA, 2017 - 2029
- Figure 31:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, PROPULSION TYPE, VOLUME SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 32:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 33:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY BEV, KWH, NORTH AMERICA, 2017 - 2029
- Figure 34:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY BEV, USD, NORTH AMERICA, 2017 - 2029
- Figure 35:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 36:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY PHEV, KWH, NORTH AMERICA, 2017 - 2029
- Figure 37:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY PHEV, USD, NORTH AMERICA, 2017 - 2029
- Figure 38:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 39:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY BATTERY CHEMISTRY, KWH, NORTH AMERICA, 2017 - 2029
- Figure 40:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY BATTERY CHEMISTRY, USD, NORTH AMERICA, 2017 - 2029
- Figure 41:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BATTERY CHEMISTRY, VOLUME SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 42:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BATTERY CHEMISTRY, VALUE SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 43:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY DELETE, KWH, NORTH AMERICA, 2017 - 2029
- Figure 44:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY DELETE, USD, NORTH AMERICA, 2017 - 2029
- Figure 45:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 46:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY LFP, KWH, NORTH AMERICA, 2017 - 2029
- Figure 47:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY LFP, USD, NORTH AMERICA, 2017 - 2029
- Figure 48:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 49:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY NCA, KWH, NORTH AMERICA, 2017 - 2029
- Figure 50:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY NCA, USD, NORTH AMERICA, 2017 - 2029
- Figure 51:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 52:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY NCM, KWH, NORTH AMERICA, 2017 - 2029
- Figure 53:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY NCM, USD, NORTH AMERICA, 2017 - 2029
- Figure 54:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 55:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY NMC, KWH, NORTH AMERICA, 2017 - 2029
- Figure 56:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY NMC, USD, NORTH AMERICA, 2017 - 2029
- Figure 57:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 58:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY OTHERS, KWH, NORTH AMERICA, 2017 - 2029
- Figure 59:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY OTHERS, USD, NORTH AMERICA, 2017 - 2029
- Figure 60:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 61:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY CAPACITY, KWH, NORTH AMERICA, 2017 - 2029
- Figure 62:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY CAPACITY, USD, NORTH AMERICA, 2017 - 2029
- Figure 63:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, CAPACITY, VOLUME SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 64:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, CAPACITY, VALUE SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 65:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, KWH, NORTH AMERICA, 2017 - 2029
- Figure 66:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, USD, NORTH AMERICA, 2017 - 2029
- Figure 67:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 68:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, KWH, NORTH AMERICA, 2017 - 2029
- Figure 69:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, USD, NORTH AMERICA, 2017 - 2029
- Figure 70:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 71:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY ABOVE 80 KWH, KWH, NORTH AMERICA, 2017 - 2029
- Figure 72:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY ABOVE 80 KWH, USD, NORTH AMERICA, 2017 - 2029
- Figure 73:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 74:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY LESS THAN 15 KWH, KWH, NORTH AMERICA, 2017 - 2029
- Figure 75:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY LESS THAN 15 KWH, USD, NORTH AMERICA, 2017 - 2029
- Figure 76:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 77:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY BATTERY FORM, KWH, NORTH AMERICA, 2017 - 2029
- Figure 78:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY BATTERY FORM, USD, NORTH AMERICA, 2017 - 2029
- Figure 79:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BATTERY FORM, VOLUME SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 80:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BATTERY FORM, VALUE SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 81:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY CYLINDRICAL, KWH, NORTH AMERICA, 2017 - 2029
- Figure 82:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY CYLINDRICAL, USD, NORTH AMERICA, 2017 - 2029
- Figure 83:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 84:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY POUCH, KWH, NORTH AMERICA, 2017 - 2029
- Figure 85:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY POUCH, USD, NORTH AMERICA, 2017 - 2029
- Figure 86:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 87:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY PRISMATIC, KWH, NORTH AMERICA, 2017 - 2029
- Figure 88:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY PRISMATIC, USD, NORTH AMERICA, 2017 - 2029
- Figure 89:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 90:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY METHOD, KWH, NORTH AMERICA, 2017 - 2029
- Figure 91:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY METHOD, USD, NORTH AMERICA, 2017 - 2029
- Figure 92:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, METHOD, VOLUME SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 93:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, METHOD, VALUE SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 94:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY LASER, KWH, NORTH AMERICA, 2017 - 2029
- Figure 95:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY LASER, USD, NORTH AMERICA, 2017 - 2029
- Figure 96:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 97:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY WIRE, KWH, NORTH AMERICA, 2017 - 2029
- Figure 98:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY WIRE, USD, NORTH AMERICA, 2017 - 2029
- Figure 99:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 100:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY COMPONENT, UNITS, NORTH AMERICA, 2017 - 2029
- Figure 101:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY COMPONENT, USD, NORTH AMERICA, 2017 - 2029
- Figure 102:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, COMPONENT, VOLUME SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 103:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, COMPONENT, VALUE SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 104:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY ANODE, UNITS, NORTH AMERICA, 2017 - 2029
- Figure 105:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY ANODE, USD, NORTH AMERICA, 2017 - 2029
- Figure 106:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 107:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY CATHODE, UNITS, NORTH AMERICA, 2017 - 2029
- Figure 108:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY CATHODE, USD, NORTH AMERICA, 2017 - 2029
- Figure 109:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 110:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY ELECTROLYTE, UNITS, NORTH AMERICA, 2017 - 2029
- Figure 111:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY ELECTROLYTE, USD, NORTH AMERICA, 2017 - 2029
- Figure 112:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 113:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY SEPARATOR, UNITS, NORTH AMERICA, 2017 - 2029
- Figure 114:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY SEPARATOR, USD, NORTH AMERICA, 2017 - 2029
- Figure 115:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 116:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY MATERIAL TYPE, KG, NORTH AMERICA, 2017 - 2029
- Figure 117:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY MATERIAL TYPE, USD, NORTH AMERICA, 2017 - 2029
- Figure 118:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, MATERIAL TYPE, VOLUME SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 119:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, MATERIAL TYPE, VALUE SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 120:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY COBALT, KG, NORTH AMERICA, 2017 - 2029
- Figure 121:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY COBALT, USD, NORTH AMERICA, 2017 - 2029
- Figure 122:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 123:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY LITHIUM, KG, NORTH AMERICA, 2017 - 2029
- Figure 124:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY LITHIUM, USD, NORTH AMERICA, 2017 - 2029
- Figure 125:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 126:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY MANGANESE, KG, NORTH AMERICA, 2017 - 2029
- Figure 127:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY MANGANESE, USD, NORTH AMERICA, 2017 - 2029
- Figure 128:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 129:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY NATURAL GRAPHITE, KG, NORTH AMERICA, 2017 - 2029
- Figure 130:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY NATURAL GRAPHITE, USD, NORTH AMERICA, 2017 - 2029
- Figure 131:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 132:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY NICKEL, KG, NORTH AMERICA, 2017 - 2029
- Figure 133:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY NICKEL, USD, NORTH AMERICA, 2017 - 2029
- Figure 134:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 135:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY OTHER MATERIALS, KG, NORTH AMERICA, 2017 - 2029
- Figure 136:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY OTHER MATERIALS, USD, NORTH AMERICA, 2017 - 2029
- Figure 137:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 138:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY COUNTRY, KWH, NORTH AMERICA, 2017 - 2029
- Figure 139:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY COUNTRY, USD, NORTH AMERICA, 2017 - 2029
- Figure 140:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, COUNTRY, VOLUME SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 141:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, COUNTRY, VALUE SHARE (%), NORTH AMERICA, 2022 & 2029
- Figure 142:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY CANADA, KWH, NORTH AMERICA, 2017 - 2029
- Figure 143:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY CANADA, USD, NORTH AMERICA, 2017 - 2029
- Figure 144:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 145:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY US, KWH, NORTH AMERICA, 2017 - 2029
- Figure 146:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BY US, USD, NORTH AMERICA, 2017 - 2029
- Figure 147:
- BREAKDOWN OF NORTH AMERICA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), NORTH AMERICA, 2017-2029
- Figure 148:
- NORTH AMERICA EV BATTERY PACK MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2020 - 2022
- Figure 149:
- NORTH AMERICA EV BATTERY PACK MARKET, MOST ADOPTED STRATEGIES, 2020 - 2022
- Figure 150:
- NORTH AMERICA EV BATTERY PACK MARKET SHARE(%), BY MAJOR PLAYER REVENUE, 2023
North America EV Battery Pack Industry Segmentation
Bus, LCV, M&HDT, Passenger Car are covered as segments by Body Type. BEV, PHEV are covered as segments by Propulsion Type. LFP, NCA, NCM, NMC, Others are covered as segments by Battery Chemistry. 15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh are covered as segments by Capacity. Cylindrical, Pouch, Prismatic are covered as segments by Battery Form. Laser, Wire are covered as segments by Method. Anode, Cathode, Electrolyte, Separator are covered as segments by Component. Cobalt, Lithium, Manganese, Natural Graphite, Nickel are covered as segments by Material Type. Canada, US are covered as segments by Country.
- From 2017 to 2023, there has been a significant increase in the production and adoption of electric vehicles in North America. In 2017, the total number of electric vehicles produced in North America was approximately 200,000, which increased to over 400,000 in 2022. This growth can be attributed to various factors, including government incentives, lower battery prices, and increased consumer awareness. Research and development efforts in the electric vehicle industry have also been increasing in recent years.
- The electric vehicle battery pack market in North America is experiencing significant growth, largely driven by government subsidies and incentive programs. In recent years, there has been a marked increase in the adoption of electric vehicles due to these programs, which aim to promote the use of environmentally friendly transportation. For instance, the US government has introduced tax credits of up to USD 7,500 for the purchase of electric vehicles, making them more affordable and accessible to a wider audience.
- Further, the development of battery manufacturing plants is critical to the growth of the EV market in North America. Currently, most EV batteries are manufactured in Asia, primarily in China and South Korea. However, there are plans to build more battery manufacturing plants in North America, which will help to reduce the region's reliance on imported batteries and support the growth of the local EV industry. According to a report by Bloomberg New Energy Finance, North America is expected to invest USD 360 billion in EV infrastructure by 2040 as the region seeks to reduce its carbon emissions and transition to cleaner transportation. Overall, the future of electric vehicles and battery packs in North America is promising.
| Body Type | Bus |
| LCV | |
| M&HDT | |
| Passenger Car | |
| Propulsion Type | BEV |
| PHEV | |
| Battery Chemistry | LFP |
| NCA | |
| NCM | |
| NMC | |
| Others | |
| Capacity | 15 kWh to 40 kWh |
| 40 kWh to 80 kWh | |
| Above 80 kWh | |
| Less than 15 kWh | |
| Battery Form | Cylindrical |
| Pouch | |
| Prismatic | |
| Method | Laser |
| Wire | |
| Component | Anode |
| Cathode | |
| Electrolyte | |
| Separator | |
| Material Type | Cobalt |
| Lithium | |
| Manganese | |
| Natural Graphite | |
| Nickel | |
| Other Materials | |
| Country | Canada |
| US |
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Market Definition
- Battery Chemistry - Various types of battery chemistry considred under this segment include LFP, NCA, NCM, NMC, Others.
- Battery Form - The types of battery forms offered under this segment include Cylindrical, Pouch and Prismatic.
- Body Type - Body types considered under this segment include, passenger cars, LCV (light commercial vehicle), M&HDT (medium & heavy duty trucks)and buses.
- Capacity - Various types of battery capacities inldude under theis segment are 15 kWH to 40 kWH, 40 kWh to 80 kWh, Above 80 kWh and Less than 15 kWh.
- Component - Various components covered under this segment include anode, cathode, electrolyte, separator.
- Material Type - Various material covered under this segment include cobalt, lithium, manganese, natural graphite, nickel, other material.
- Method - The types of method covered under this segment include laser and wire.
- Propulsion Type - Propulsion types considered under this segment include BEV (Battery electric vehicles), PHEV (plug-in hybrid electric vehicle).
- ToC Type - ToC 1
- Vehicle Type - Vehicle type considered under this segment include passenger vehicles, and commercial vehicles with various EV powertrains.
| Keyword | Definition |
|---|---|
| Electric vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
| PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all electric vehicles as well as plug-electric vehicles as well as plug-in hybrids. |
| Battery-as-a-Service | A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge |
| Battery Cell | The basic unit of an electric vehicle's battery pack, typically a lithium-ion cell, that stores electrical energy. |
| Module | A subsection of an EV battery pack, consisting of several cells grouped together, often used to facilitate manufacturing and maintenance. |
| Battery Management System (BMS) | An electronic system that manages a rechargeable battery by protecting the battery from operating outside its safe operating area, monitoring its state, calculating secondary data, reporting data, controlling its environment, and balancing it. |
| Energy Density | A measure of how much energy a battery cell can store in a given volume, usually expressed in watt-hours per liter (Wh/L). |
| Power Density | The rate at which energy can be delivered by the battery, often measured in watts per kilogram (W/kg). |
| Cycle Life | The number of complete charge-discharge cycles a battery can perform before its capacity falls under a specified percentage of its original capacity. |
| State of Charge (SOC) | A measurement, expressed as a percentage, that represents the current level of charge in a battery compared to its capacity. |
| State of Health (SOH) | An indicator of the overall condition of a battery, reflecting its current performance compared to when it was new. |
| Thermal Management System | A system designed to maintain optimal operating temperatures for an EV's battery pack, often using cooling or heating methods. |
| Fast Charging | A method of charging an EV battery at a much faster rate than standard charging, typically requiring specialized charging equipment. |
| Regenerative Braking | A system in electric and hybrid vehicles that recovers energy normally lost during braking and stores it in the battery. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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