(MENAFN- IMARC Group)
The latest report by IMARC Group, titled“ North America Lithium-ion Battery Market:
Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032 ,“ offers a comprehensive analysis of the industry, which comprises insights into the market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The North America lithium-ion battery market size reached US$ 18.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 47.4 Billion by 2032, exhibiting a growth rate (CAGR) of 11.1% during 2024-2032.
North America Lithium-ion Battery Market Overview:
Lithium-ion batteries are rechargeable energy storage devices widely used in various electronic devices, electric vehicles, and renewable energy systems. Composed of a positive cathode, negative anode, and electrolyte, they leverage lithium ions moving between these electrodes during charge and discharge cycles. This movement enables the flow of electrical current.
Lithium-ion batteries are known for their high energy density, longevity, and relatively low self-discharge rate. Their versatility has led to widespread adoption in smartphones, laptops, and electric vehicles, contributing to the shift towards cleaner energy sources.
Request to Get the Sample Report:
https://www.imarcgroup.com/north-america-lithium-ion-battery-market/requestsample
North America Lithium-ion Battery Market Trends:
The market in North America is majorly driven by the increasing demand for electric vehicles (EVs). As the automotive industry embraces sustainable practices, the shift toward EVs is accelerating, amplifying the need for advanced energy storage solutions. Furthermore, the expanding renewable energy sector contributes significantly to the market's momentum. Lithium-ion batteries play a crucial role in storing intermittent energy generated by sources like solar and wind, ensuring a reliable power supply. Governments in North America are also implementing policies and incentives to promote clean energy initiatives, further propelling the adoption of lithium-ion batteries. Moreover, the consumer electronics industry is another key contributor to market growth. With the proliferation of smartphones, laptops, and other portable devices, there's a constant demand for compact and efficient energy storage, where lithium-ion batteries excel. Advancements in technology, leading to enhanced battery performance, energy density, and cost efficiency, are fostering market expansion. Ongoing research and development efforts are addressing concerns related to safety and resource sustainability, bolstering consumer confidence.
Besides, strategic partnerships and collaborations between battery manufacturers and automotive companies contribute to market expansion. Joint ventures and investments in battery production facilities reflect the industry's commitment to meeting the escalating demand for lithium-ion batteries. Additionally, the focus on grid modernization and energy storage solutions to improve grid reliability further fuels the market. As North America continues to prioritize sustainable energy practices, the lithium-ion battery market is poised for sustained growth, playing a pivotal role in the region's transition towards cleaner and more efficient energy systems.
Key Market Segmentation:
Market by Product Type:
Lithium Cobalt Oxide Lithium Iron Phosphate Lithium Nickel Manganese Cobalt Lithium Manganese Oxide Others
Market by Power Capacity:
0 to 3000mAh 3000mAh to 10000mAh 10000mAh to 60000mAh More than 60000mAh
Market by Application:
Consumer Electronics Electric Vehicles Energy Storage Others
Key Regions Analysed:
United States Canada Mexico
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) COVID-19 Impact on the Market Porter's Five Forces Analysis Strategic Recommendations Historical, Current and Future Market Trends Market Drivers and Success Factors SWOT Analysis Structure of the Market Value Chain Analysis Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email:
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
MENAFN01032024004122016232ID1107922853
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.