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North America Electric Vehicle (EV) Battery Market

Release date:

Mar-2022

Region:

northamerica

Research Code:MRAUTO -104531

Sku:MRAUTO -104531

North America EV Battery Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitor, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End User, and Country - Forecast to 2028

  • Report ID: MRAUTO -104531
  • Pages: 108
  • Mar-2022
  • Formats*: PDF
  • Category: Automotive Industry
  • Delivery: 2 to 4 Hours
COVID-19

This report provides pre & post COVID-19 market estimates.

The North America Electric Vehicle Battery Market is expected to reach a value of $22.79 billion by 2028, at a CAGR of 30.2% during the forecast period 2021-2028. Increasing investments by leading automotive OEMs for setting up battery manufacturing facilities in the region, increasing adoption of EVs, and decreasing battery prices are some of the major factors driving the growth of this market. Increasing investments in alternative battery technology provide significant growth opportunities for market players.

The Impact of COVID-19 on the North America EV Battery Market

The COVID-19 pandemic severely impacted several sectors, including the automotive sector, with major manufacturers temporarily shutting down their operations or operating with limited capacities in accordance with the directives issued by their respective governments. The energy materials and renewable generation & conversion industry, including battery-powered electric vehicles, grid storage, and personal electronic devices, witnessed a decline, directly affecting batteries' sales, especially in the electric vehicles segment.

North America was hit severely by the pandemic. The adoption of EVs declined in the first & second quarters of 2020, which affected the sale of electric vehicle batteries in North America; while a slight growth was witnessed from the third quarter. People avoided shared mobility and public transit to reduce the risk of infection. Due to the COVID-19 pandemic, U.S. overall vehicle sales declined 12% in the first quarter of 2020 compared to Q1 2019. As the year progressed, things got worse, with a 33 % year-on-year decline in Q2, followed by a slight rebound in Q3.

Additionally, U.S. sales of plug-in light-duty electric vehicles in 2020 totaled 296,000 units, which was down significantly from the 331,000 in sales in 2019. It also affected the adoption and price range of EV batteries. The cost of battery packs plummeted dramatically, from over USD 1,000/kilowatt-hour (kWh) in 2010 to approximately USD 137/kWh in 2020, which affected the adoption of electric batteries in the North American market.

North America Electric Vehicle (EV) Battery Market

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Increasing Investments by Leading Automotive OEMs to Set Up Battery Manufacturing Facilities in the Region

Several industry leaders are actively investing in the research & development of EV battery technology in North America. For instance, in January 2020, Tesla put forward a new patent for improved battery cell chemistry under the title “Dioxazolones and nitrile sulfites as electrolyte additives for lithium-ion batteries.” This new battery technology is intended to increase the performance and service life of the batteries; also, it will reduce the battery cost.

The growing number of pilot projects for installation of charging infrastructures at various public places, an increasing number of buyers adopting EVs, growing government incentive programs and subsidies on purchasing EVs, and increasing competition among industry leaders to launch new models are some of the key factors driving the growth of this market in this region.

Major key players in the market are investing in EV battery development to support the increasing demand for EV batteries. For instance, in December 2019, General Motor Co and LG Chem invested USD 2.3 billion to build a joint venture for an electric vehicle battery cell plant in Ohio (U.S.). This plant is aimed at creating the world’s largest battery facility for electric vehicles in Ohio. The joint venture will supply batteries to GM’s next generation of EVs.

Furthermore, in May 2021, Ford Motor and SK Innovation announced a joint venture in the U.S. to produce battery cells for rechargeable EV batteries. Also, in May 2021, Ford Motor Co and BMW AG invested USD 130 million in solid-state battery startup Solid Power. This initiative is to commercialize next-generation batteries.

Moreover, in April 2021, LG Energy Solution and General Motors planned to build an EV battery plant in the U.S. with an investment of USD 2.3 billion. This new plant will increase GM’s production scale of batteries. In August 2020, Panasonic invested USD 100 million in EV battery plant in the U.S. to boost the production capacity of batteries for Tesla. Also, in May 2021, Martinrea, an auto car manufacturer, and NanoXplore, a graphene producer, set up joint venture called VoltaXplore in Canada to manufacture EV batteries with abilities such as improving charging times range, longevity, and run at lower temperatures. Such advancements and developments in the EV batteries industry are expected to grow the demand for batteries in the forecast period.

Key Findings in the North America Electric Vehicle Battery Market Study:

The solid-state batteries segment is projected to grow at the fastest rate once it gets commercialized

Based on type, the solid-state battery segment is expected to grow faster once it gets commercialized. As per Meticulous Research® analysis, we expect the commercialization of solid-state batteries would happen from 2025. A solid-state battery has a higher energy density than a Li-ion battery that uses liquid electrolyte solution. This battery can effectively increase the energy density per unit area as compared to lithium-ion batteries. Due to such properties, a solid-state battery pack will have a higher capacity than a lithium-ion battery of the same size.

The 101kWh to 300kWh segment is projected to grow at the highest CAGR during the forecast period

The 101kWh to 300kWh segment is expected to grow at the highest CAGR during the forecast period. This segment is expected to have a high growth rate during the forecast period mainly because these batteries are widely used in medium EVs, such as light commercial vehicles and utility vehicles. The adoption of such EVs is increasing due to the rise in fuel prices and government initiatives for lowering fleet emissions of logistics and public transportation. Also, the increasing launch of new EVs by automotive OEMs for electrification of logistics and public transport fleets and increasing adoption of electric vehicles by e-commerce companies, such as Amazon and UPS, are supporting the market’s growth during the forecast period.

The laser bonding segment to grow at a significant pace during the forecast period

Based on bonding type, the laser bonding segment is expected to grow at the highest CAGR during the forecast period. This segment is expected to have high growth during the forecast period. Laser welding is a reliable technology to connect battery cells and achieve fast, automated, precise production of battery pack conductive joints. Lasers offer the advantages of precision and non-contact welding, which can be adapted to fit small areas with low accessibility using a concentrated heat source.

The pouch segment to grow at a significant pace during the forecast period

Based on form, the pouch segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to higher energy density compared with the same weight of prismatic cells, more safety performance, and lower internal resistance. A pouch cell’s energy storage capacity is much greater in a given physical space than cylindrical cells. Leading automotive and battery OEMs are investing in pouch cell formats for powering the upcoming EVs. For instance, in April 2020, General Motors and LG Energy Solution announced a joint venture between the two companies to supply large-format pouch cells for GM’s Ultium battery strategy to power the upcoming GMC Hummer EV models and a Chevrolet Silverado EV in 2023.

The light commercial vehicles segment is projected to grow at the highest CAGR during the forecast period

Based on application, the light commercial vehicles segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment during the forecast period is attributed to the increasing shift of retail MNCs and transport fleet operators to electric light commercial vehicles, growing awareness regarding the role of electric vehicles in reducing emissions, increasing demand for electric vehicles to reduce fleet emissions, and stringent government rules and regulations towards vehicle emissions. The mass production of batteries and the attractive tax incentives offered by governments have further brought down vehicle costs, making electric light commercial vehicles much more cost-effective.

The battery swapping stations segment is projected to grow at the highest CAGR during the forecast period

Based on end user, the battery swapping stations segment is expected to grow at the highest CAGR during the forecast period. This segment is expected to have high growth during the forecast period mainly because battery swapping service helps reduce EV acquisition costs, increase the battery lifespan, and increase battery swapping services by various automotive start-up companies. Also, other mobility stakeholders such as oil refining companies are partnering with e-mobility start-ups to set up battery swapping stations, which will support the market growth of this segment.

The U.S. to be the fastest-growing market

The U.S. is expected to account for the largest share of the North America Electric Vehicle batteries market as well as it is the fastest-growing market during the forecast period. The factors attributed to the high growth of this country are the increasing adoption of electric vehicles in this region, the presence of raw material resources for cobalt and lithium, and increasing investment in the EV battery development to support the increasing demand for EV batteries.

Canada is expected to witness the second-fastest growth during the forecast period. The factors attributed to this country's growth are cobalt, lithium, and other raw material reserves availability and initiatives by battery manufacturers to set up battery manufacturing plants. For instance, Martinrea, an auto car manufacturer, and NanoXplore, a graphene producer, set up a joint venture called VoltaXplore to manufacture EV batteries with abilities such as improved charging times, range, longevity, and running at lower temperatures. The plant capacity is up to 1,000 batteries per day. Britishvolt, a UK-headquartered cell manufacturing startup, plans to build a 60GWh plant in Quebec. While Stromvolt, a Canadian headquartered startup, is planning a 10GWh plant in Ontario.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategies adopted by the leading market players in the EV batteries market over the last four years. The key players profiled in the EV batteries market are 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).

Scope of the Report

North America EV Battery Market, by Type

  • Lithium-ion Battery
  • Sealed Lead Acid Battery
  • Nickel-Metal Hydride Battery
  • Ultracapacitors
  • Solid-State Batteries
  • Other Batteries

North America EV Battery Market, by Capacity

  • Less Than 50 kWh
  • 51 kWh to 100 kWh
  • 101 kWh to 300 kWh
  • More Than 300 kWh

North America EV Battery Market, by Bonding Type

  • Wire Bonding
  • Laser Bonding

North America EV Battery Market, by Form

  • Prismatic
  • Cylindrical
  • Pouch

North America EV Battery Market, by Application

  • Electric Cars
    • Battery Electric Vehicles
      • Lithium-ion Battery
      • Nickel-Metal Hydride Battery
      • Ultracapacitors
      • Solid-State Batteries
      • Other Batteries
    • Plug-in Hybrid Electric Vehicles
      • Lithium-ion Battery
      • Ultracapacitors
      • Solid-State Batteries
      • Other Batteries
    • Pure Hybrid Electric Vehicles
      • Lithium-ion Battery
      • Nickel-Metal Hydride Battery
      • Ultracapacitors
      • Solid-State Batteries
      • Other Batteries
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • E-scooters & Motorcycles
  • E-bikes

North America EV Battery Market, by End User

  • Electric Vehicle OEMs
  • Battery Swapping Stations

North America EV Battery Market, by Country

  • U.S.
  • Canada

Key Questions Answered in the Report:

What is the focus of the North America EV Battery Market?

The North America EV Battery Market report covers the market size & forecasts EV batteries by type, capacity, bonding type, form, application, end user, and country. In this report, the North American EV batteries market study involves the value analysis of various segments and sub-segments of the North American EV batteries market at country levels.

What is the value of revenue generated from EV batteries across North America? At what rate is the demand expected to grow for the next 5-7 years?

The North America EV Battery Market is projected to reach a value of $22.79 billion by 2028, at a CAGR of ~30% during the forecast period.

Which type category held the major share of the market in 2021?

Based on type, the lithium-ion batteries segment is expected to account for the largest share of the North American EV batteries market in 2021.

Which is the high-growth application segment of the North America EV Batteries market?

Based on application, the light commercial vehicles segment is expected to witness significant growth during the forecast period. The rapid growth of this segment is mainly attributed to the increasing shift of retail MNCs and transport fleet operators to electric light commercial vehicles, growing awareness regarding the role of electric vehicles in reducing emissions, increasing demand for electric vehicles to reduce fleet emissions, and stringent government rules and regulations towards vehicle emissions. The mass production of batteries and the attractive tax incentives offered by governments have further brought down vehicle costs, making electric light commercial vehicles much more cost-effective.

What are the key factors supporting the growth of this market? What are the major opportunities for existing market players and new entrants in the North America EV Battery Market?

Factors such as increasing EV adoption, decreasing battery prices, and increasing investment by leading automotive OEMs to secure the battery supply chain for their future electric vehicles. Moreover, increasing adoption of electric mobility in emerging economies, growing investments in developing lithium-ion battery capacity, and growing deployment of battery-as-a-service are expected to create lucrative opportunities for players operating in this market.

Who are the major players operating in the North America EV Battery Market?

The key players operating in the North America EV Batteries market are 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).

Who are the major players operating in the North America EV Battery Market?

The key players operating in the North America EV Batteries market are 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).

Which countries are likely to offer significant growth opportunities for the vendors in this market during the analysis period?

The U.S. is expected to offer lucrative growth opportunities for EV battery OEMs during the forecast period.

1.    Introduction
       1.1.    Market Definition
       1.2.    Market Ecosystem
       1.3.    Currency and Limitations
                 1.3.1.    Key Stakeholders

2.    Research Methodology
       2.1.    Research Process
       2.2.    Data Collection & Validation
                 2.2.1.    Secondary Research
                 2.2.2.    Primary Research
                 2.2.3.    Market Size Estimation

3.    Executive Summary

4.    COVID-19 Impact Assessment
       4.1.   Scenario A: Severe Impact
       4.2.    Scenario B: Slow Recovery
       4.3.    Scenario C: Fast Recovery

5.    Market Insights
       5.1.    Introduction
       5.2.    Market Dynamics
                 5.2.1.    Drivers
                              5.2.1.1. Increasing Investments by Leading Automotive OEMS to Set up Battery Manufacturing Facilities in the Region
                              5.2.1.2. Increasing Adoption of EVs
                              5.2.1.3. Decreasing Battery Prices
                 5.2.2.    Opportunities
                              5.2.2.1. Increasing Investments in Alternative Battery Technology
                 5.2.3.    Challenges
                              5.2.3.1. High Import Cost of Raw Materials for Battery Manufacturing
                              5.2.3.2. Less Energy Density of Batteries
       5.3.    Value Chain Analysis

6.    North American Electric Vehicle Batteries Market, By Type
       6.1.    Introduction
       6.2.    Lithium-ion Batteries
       6.3.    Sealed Lead Acid Batteries
       6.4.    Nickel-Metal Hydride Batteries
       6.5.    Ultracapacitors
       6.6.    Solid-state Batteries
       6.7.    Other Battery Types

7.    North American Electric Vehicle Batteries Market, By Capacity
       7.1.    Introduction
       7.2.    51kWh to 100kWh
       7.3.    Less than 50kWh
       7.4.    101kWh to 300kWh
       7.5.    More than 300kWh

8.    North American Electric Vehicle Batteries Market, By Bonding Type
       8.1.    Introduction
       8.2.    Wire Bonding
       8.3.    Laser Bonding

9.    North American Electric Vehicle Batteries Market, By Form
       9.1.    Introduction
       9.2.    Prismatic
       9.3.    Pouch
       9.4.    Cylindrical 

10.    North American Electric Vehicle Batteries Market, By Application
         10.1.    Introduction
         10.2.    Electric Cars
                    10.2.2.    Battery Electric Vehicles
                    10.2.2.    Plug-in Hybrid Electric Vehicles
                    10.2.3.    Pure Hybrid Electric Vehicles
         10.3.    Light Commercial Vehicles
         10.4.    Heavy Commercial Vehicles
         10.5.    E-Scooters & Motorcycles
         10.6.    E-bikes

11.   North American Electric Vehicle Batteries Market, By End-user
        11.1.    Introduction
        11.2.    Electric Vehicle OEMS
        11.3.    Battery Swapping Stations

12.    North American Electric Vehicle Batteries Market, By Country
         12.1.    Introduction
                    12.1.1.    U.S.
                    12.1.2.    Canada

13.    Competitive Landscape
         13.1.    Introduction
         13.2.    Key Growth Strategies
         13.3.    Market Share Analysis (2020)
13.3.1.    Quantumscape Corporation
13.3.2.    American Battery Solutions, Inc. (ABS)
13.3.3.    Electrovaya Inc.

14.    Company Profiles(Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
         14.1.    Quantumscape Corporation
         14.2.    American Battery Solutions, Inc.
         14.3.    Electrovaya Inc.
         14.4.    NOHMsTechnologies, Inc
         14.5.    Clarios
         14.6.    Romeo Power, Inc.

15    Appendix
        15.1.    Questionnaire


List of Tables
Table 1    Impact of COVID-19 on North American EV Batteries Market (USD Million)
Table 2    Comparison of U.S. Mineral Reserves and Manufacturing Capacities Versus the World
Table 3    North American EV Batteries Market Size, By Type, 2019–2028 (USD Million)
Table 4    North American Lithium-ion EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 5    North American Sealed Lead Acid EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 6    North American Nickel-Metal Hydride EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 7    North American Ultracapacitors EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 8    North American Solid-state EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 9    North American Other Battery Types Market Size, By Country, 2019–2028 (USD Million)
Table 10   North American EV Batteries Market Size, By Capacity, 2019–2028 (USD Million)
Table 11    North American 51kWh To 100kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 12    North American Less Than 50kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 13    North American 101kWh To 300kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 14    North American More Than 300kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 15    North American EV Batteries Market Size, By Bonding Type, 2019–2028 (USD Million)
Table 16    North American Wire Bonding EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 17    North American Laser Bonding EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 18    North American EV Batteries Market Size, By Form, 2019–2028 (USD Million)
Table 19    North American Prismatic EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 20    North American Pouch EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 21    North American Cylindrical EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 22    North American EV Batteries Market Size, By Application, 2019–2028 (USD Million)
Table 23    North American EV Batteries Market Size for Electric Cars, By Type, 2019–2028 (USD Million)
Table 24    North American EV Batteries Market Size for Electric Cars, By Country, 2019–2028 (USD Million)
Table 25    North American EV Batteries Market Size for Battery Electric Vehicles, By Type, 2019–2028 (USD Million)
Table 26    North American EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 27    North American Lithium-ion EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 28  North American Nickel-Metal Hydride EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 29    North American Ultracapacitors EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 30    North American Solid-state Batteries EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 31   North American Other Battery Types Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 32   North American EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Type, 2019–2028 (USD Million)
Table 33   North American EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 34   North American Lithium-ion EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 35  North American Ultracapacitors EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 36   North American Solid-state Batteries EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 37    North American Other EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 38    North American EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Type, 2019–2028 (USD Million)
Table 39    North American EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 40    North American Lithium-ion EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 41    North American Nickel-Metal Hydride EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 42    North American Ultracapacitors EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 43    North American Solid-state Batteries EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 44    North American Other EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 45    North American EV Batteries Market For Light Commercial Vehicles Size, By Country, 2019–2028 (USD Million)
Table 46    North American EV Batteries Market For Heavy Commercial Vehicles Size, By Country, 2019–2028 (USD Million)
Table 47    North American EV Batteries Market For E-Scooters & Motorcycles Size, By Country, 2019–2028 (USD Million)
Table 48    North American EV Batteries Market For E-Bikes Size, By Country, 2019–2028 (USD Million)
Table 49    North American EV Batteries Market Size, By End User, 2019–2028 (USD Million)
Table 50    North American EV Batteries Market Size for Electric Vehicle Oems, By Country, 2019–2028 (USD Million)
Table 51    North American EV Batteries Market Size for Battery Swapping Stations, By Country, 2019–2028 (USD Million)
Table 52    U.S.: EV Batteries Market Size, By Type, 2019–2028 (USD Million)
Table 53    U.S.: EV Batteries Market Size, By Capacity, 2019–2028, (USD Million)
Table 54    U.S.: EV Batteries Market Size, By Bonding Type, 2019–2028, (USD Million)
Table 55    U.S.: EV Batteries Market Size, By Form, 2019–2028, (USD Million)
Table 56    U.S.: EV Batteries Market Size, By Application, 2019–2028, (USD Million)
Table 57    U.S.: EV Batteries Market Size for Electric Cars, By Type, 2019–2028, (USD Million)
Table 58    U.S.: EV Batteries Market Size for Battery Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 59    U.S.: EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 60    U.S.: EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 61    U.S.: EV Batteries Market Size, By End User, 2019–2028, (USD Million)
Table 62    Canada: EV Batteries Market Size, By Type, 2019–2028 (USD Million)
Table 63    Canada: EV Batteries Market Size, By Capacity, 2019–2028, (USD Million)
Table 64    Canada: EV Batteries Market Size, By Bonding Type, 2019–2028, (USD Million)
Table 65    Canada: EV Batteries Market Size, By Form, 2019–2028, (USD Million)
Table 66    Canada: EV Batteries Market Size, By Application, 2019–2028, (USD Million)
Table 67    Canada: EV Batteries Market Size for Electric Cars, By Type, 2019–2028, (USD Million)
Table 68    Canada: EV Batteries Market Size for Battery Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 69    Canada: EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 70    Canada: EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 71    Canada: EV Batteries Market Size, By End User, 2019–2028, (USD Million)
Table 72    Recent Key Developments, By Company (2018–2021)

List of Figures

Figure 1    Market Ecosystem
Figure 2    Currency and Limitations
Figure 3    Key Stakeholders
Figure 4    Research Process
Figure 5    Key Secondary Sources
Figure 6    Key Executives Interviewed
Figure 7    Primary Research Techniques
Figure 8    Market Size Estimation 
Figure 9    Key Insights
Figure 10    Lithium-Ion Batteries Segment to Grow at the Highest CAGR During The Forecast Period
Figure 11    51kWh To 100kWh Segment to Grow at the Highest CAGR During The Forecast Period
Figure 12    North American EV Batteries Market, By Bonding Type, 2021 Vs. 2028, (USD Million)
Figure 13    Pouch Segment is Expected to Grow at the Highest CAGR During the Forecast Per
Figure 14    In 2021, the Electric Cars Segment Accounted for the Largest Share of the North American EV Batteries Market 
Figure 15    North American EV Batteries Market, By End User, 2021 Vs. 2028 (USD Million)
Figure 16    Geographic Snapshot: North American EV Batteries Market 
Figure 17    The Impact of COVID-19 on the North American EV Batteries Market
Figure 18    Market Dynamics
Figure 19    Electric Vehicle Battery Value Chain
Figure 20    North American EV Batteries Market, By Type, 2021 Vs. 2028 (USD Million)
Figure 21    North American EV Batteries Market, By Capacity, 2021 Vs. 2028 (USD Million)
Figure 22    North American EV Batteries Market, By Bonding Type, 2021 Vs. 2028 (USD Million)
Figure 23    North American EV Batteries Market, By Form, 2021 Vs. 2028 (USD Million)
Figure 24    North American EV Batteries Market, By Application, 2021 Vs. 2028 (USD Million)
Figure 25    North American EV Batteries Market, By End User, 2021 Vs. 2028 (USD Million)
Figure 26    EV Batteries Market, By Country, 2021 Vs. 2028, (USD Million)
Figure 27    Key Growth Strategies Adopted By Leading Players (2018–2021)
Figure 28    Romeo Power, Inc.: Finacial Snapshot (2020)
Figure 29    Electrovaya Inc.: Finacial Snapshot (2020)

 

 
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Related Research

The North America Electric Vehicle Battery Market is expected to reach a value of $22.79 billion by 2028, at a CAGR of 30.2% during the forecast period 2021-2028. Increasing investments by leading automotive OEMs for setting up battery manufacturing facilities in the region, increasing adoption of EVs, and decreasing battery prices are some of the major factors driving the growth of this market. Increasing investments in alternative battery technology provide significant growth opportunities for market players.

The Impact of COVID-19 on the North America EV Battery Market

The COVID-19 pandemic severely impacted several sectors, including the automotive sector, with major manufacturers temporarily shutting down their operations or operating with limited capacities in accordance with the directives issued by their respective governments. The energy materials and renewable generation & conversion industry, including battery-powered electric vehicles, grid storage, and personal electronic devices, witnessed a decline, directly affecting batteries' sales, especially in the electric vehicles segment.

North America was hit severely by the pandemic. The adoption of EVs declined in the first & second quarters of 2020, which affected the sale of electric vehicle batteries in North America; while a slight growth was witnessed from the third quarter. People avoided shared mobility and public transit to reduce the risk of infection. Due to the COVID-19 pandemic, U.S. overall vehicle sales declined 12% in the first quarter of 2020 compared to Q1 2019. As the year progressed, things got worse, with a 33 % year-on-year decline in Q2, followed by a slight rebound in Q3.

Additionally, U.S. sales of plug-in light-duty electric vehicles in 2020 totaled 296,000 units, which was down significantly from the 331,000 in sales in 2019. It also affected the adoption and price range of EV batteries. The cost of battery packs plummeted dramatically, from over USD 1,000/kilowatt-hour (kWh) in 2010 to approximately USD 137/kWh in 2020, which affected the adoption of electric batteries in the North American market.

North America Electric Vehicle (EV) Battery Market

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Increasing Investments by Leading Automotive OEMs to Set Up Battery Manufacturing Facilities in the Region

Several industry leaders are actively investing in the research & development of EV battery technology in North America. For instance, in January 2020, Tesla put forward a new patent for improved battery cell chemistry under the title “Dioxazolones and nitrile sulfites as electrolyte additives for lithium-ion batteries.” This new battery technology is intended to increase the performance and service life of the batteries; also, it will reduce the battery cost.

The growing number of pilot projects for installation of charging infrastructures at various public places, an increasing number of buyers adopting EVs, growing government incentive programs and subsidies on purchasing EVs, and increasing competition among industry leaders to launch new models are some of the key factors driving the growth of this market in this region.

Major key players in the market are investing in EV battery development to support the increasing demand for EV batteries. For instance, in December 2019, General Motor Co and LG Chem invested USD 2.3 billion to build a joint venture for an electric vehicle battery cell plant in Ohio (U.S.). This plant is aimed at creating the world’s largest battery facility for electric vehicles in Ohio. The joint venture will supply batteries to GM’s next generation of EVs.

Furthermore, in May 2021, Ford Motor and SK Innovation announced a joint venture in the U.S. to produce battery cells for rechargeable EV batteries. Also, in May 2021, Ford Motor Co and BMW AG invested USD 130 million in solid-state battery startup Solid Power. This initiative is to commercialize next-generation batteries.

Moreover, in April 2021, LG Energy Solution and General Motors planned to build an EV battery plant in the U.S. with an investment of USD 2.3 billion. This new plant will increase GM’s production scale of batteries. In August 2020, Panasonic invested USD 100 million in EV battery plant in the U.S. to boost the production capacity of batteries for Tesla. Also, in May 2021, Martinrea, an auto car manufacturer, and NanoXplore, a graphene producer, set up joint venture called VoltaXplore in Canada to manufacture EV batteries with abilities such as improving charging times range, longevity, and run at lower temperatures. Such advancements and developments in the EV batteries industry are expected to grow the demand for batteries in the forecast period.

Key Findings in the North America Electric Vehicle Battery Market Study:

The solid-state batteries segment is projected to grow at the fastest rate once it gets commercialized

Based on type, the solid-state battery segment is expected to grow faster once it gets commercialized. As per Meticulous Research® analysis, we expect the commercialization of solid-state batteries would happen from 2025. A solid-state battery has a higher energy density than a Li-ion battery that uses liquid electrolyte solution. This battery can effectively increase the energy density per unit area as compared to lithium-ion batteries. Due to such properties, a solid-state battery pack will have a higher capacity than a lithium-ion battery of the same size.

The 101kWh to 300kWh segment is projected to grow at the highest CAGR during the forecast period

The 101kWh to 300kWh segment is expected to grow at the highest CAGR during the forecast period. This segment is expected to have a high growth rate during the forecast period mainly because these batteries are widely used in medium EVs, such as light commercial vehicles and utility vehicles. The adoption of such EVs is increasing due to the rise in fuel prices and government initiatives for lowering fleet emissions of logistics and public transportation. Also, the increasing launch of new EVs by automotive OEMs for electrification of logistics and public transport fleets and increasing adoption of electric vehicles by e-commerce companies, such as Amazon and UPS, are supporting the market’s growth during the forecast period.

The laser bonding segment to grow at a significant pace during the forecast period

Based on bonding type, the laser bonding segment is expected to grow at the highest CAGR during the forecast period. This segment is expected to have high growth during the forecast period. Laser welding is a reliable technology to connect battery cells and achieve fast, automated, precise production of battery pack conductive joints. Lasers offer the advantages of precision and non-contact welding, which can be adapted to fit small areas with low accessibility using a concentrated heat source.

The pouch segment to grow at a significant pace during the forecast period

Based on form, the pouch segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to higher energy density compared with the same weight of prismatic cells, more safety performance, and lower internal resistance. A pouch cell’s energy storage capacity is much greater in a given physical space than cylindrical cells. Leading automotive and battery OEMs are investing in pouch cell formats for powering the upcoming EVs. For instance, in April 2020, General Motors and LG Energy Solution announced a joint venture between the two companies to supply large-format pouch cells for GM’s Ultium battery strategy to power the upcoming GMC Hummer EV models and a Chevrolet Silverado EV in 2023.

The light commercial vehicles segment is projected to grow at the highest CAGR during the forecast period

Based on application, the light commercial vehicles segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment during the forecast period is attributed to the increasing shift of retail MNCs and transport fleet operators to electric light commercial vehicles, growing awareness regarding the role of electric vehicles in reducing emissions, increasing demand for electric vehicles to reduce fleet emissions, and stringent government rules and regulations towards vehicle emissions. The mass production of batteries and the attractive tax incentives offered by governments have further brought down vehicle costs, making electric light commercial vehicles much more cost-effective.

The battery swapping stations segment is projected to grow at the highest CAGR during the forecast period

Based on end user, the battery swapping stations segment is expected to grow at the highest CAGR during the forecast period. This segment is expected to have high growth during the forecast period mainly because battery swapping service helps reduce EV acquisition costs, increase the battery lifespan, and increase battery swapping services by various automotive start-up companies. Also, other mobility stakeholders such as oil refining companies are partnering with e-mobility start-ups to set up battery swapping stations, which will support the market growth of this segment.

The U.S. to be the fastest-growing market

The U.S. is expected to account for the largest share of the North America Electric Vehicle batteries market as well as it is the fastest-growing market during the forecast period. The factors attributed to the high growth of this country are the increasing adoption of electric vehicles in this region, the presence of raw material resources for cobalt and lithium, and increasing investment in the EV battery development to support the increasing demand for EV batteries.

Canada is expected to witness the second-fastest growth during the forecast period. The factors attributed to this country's growth are cobalt, lithium, and other raw material reserves availability and initiatives by battery manufacturers to set up battery manufacturing plants. For instance, Martinrea, an auto car manufacturer, and NanoXplore, a graphene producer, set up a joint venture called VoltaXplore to manufacture EV batteries with abilities such as improved charging times, range, longevity, and running at lower temperatures. The plant capacity is up to 1,000 batteries per day. Britishvolt, a UK-headquartered cell manufacturing startup, plans to build a 60GWh plant in Quebec. While Stromvolt, a Canadian headquartered startup, is planning a 10GWh plant in Ontario.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategies adopted by the leading market players in the EV batteries market over the last four years. The key players profiled in the EV batteries market are 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).

Scope of the Report

North America EV Battery Market, by Type

  • Lithium-ion Battery
  • Sealed Lead Acid Battery
  • Nickel-Metal Hydride Battery
  • Ultracapacitors
  • Solid-State Batteries
  • Other Batteries

North America EV Battery Market, by Capacity

  • Less Than 50 kWh
  • 51 kWh to 100 kWh
  • 101 kWh to 300 kWh
  • More Than 300 kWh

North America EV Battery Market, by Bonding Type

  • Wire Bonding
  • Laser Bonding

North America EV Battery Market, by Form

  • Prismatic
  • Cylindrical
  • Pouch

North America EV Battery Market, by Application

  • Electric Cars
    • Battery Electric Vehicles
      • Lithium-ion Battery
      • Nickel-Metal Hydride Battery
      • Ultracapacitors
      • Solid-State Batteries
      • Other Batteries
    • Plug-in Hybrid Electric Vehicles
      • Lithium-ion Battery
      • Ultracapacitors
      • Solid-State Batteries
      • Other Batteries
    • Pure Hybrid Electric Vehicles
      • Lithium-ion Battery
      • Nickel-Metal Hydride Battery
      • Ultracapacitors
      • Solid-State Batteries
      • Other Batteries
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • E-scooters & Motorcycles
  • E-bikes

North America EV Battery Market, by End User

  • Electric Vehicle OEMs
  • Battery Swapping Stations

North America EV Battery Market, by Country

  • U.S.
  • Canada

Key Questions Answered in the Report:

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1.    Introduction
       1.1.    Market Definition
       1.2.    Market Ecosystem
       1.3.    Currency and Limitations
                 1.3.1.    Key Stakeholders

2.    Research Methodology
       2.1.    Research Process
       2.2.    Data Collection & Validation
                 2.2.1.    Secondary Research
                 2.2.2.    Primary Research
                 2.2.3.    Market Size Estimation

3.    Executive Summary

4.    COVID-19 Impact Assessment
       4.1.   Scenario A: Severe Impact
       4.2.    Scenario B: Slow Recovery
       4.3.    Scenario C: Fast Recovery

5.    Market Insights
       5.1.    Introduction
       5.2.    Market Dynamics
                 5.2.1.    Drivers
                              5.2.1.1. Increasing Investments by Leading Automotive OEMS to Set up Battery Manufacturing Facilities in the Region
                              5.2.1.2. Increasing Adoption of EVs
                              5.2.1.3. Decreasing Battery Prices
                 5.2.2.    Opportunities
                              5.2.2.1. Increasing Investments in Alternative Battery Technology
                 5.2.3.    Challenges
                              5.2.3.1. High Import Cost of Raw Materials for Battery Manufacturing
                              5.2.3.2. Less Energy Density of Batteries
       5.3.    Value Chain Analysis

6.    North American Electric Vehicle Batteries Market, By Type
       6.1.    Introduction
       6.2.    Lithium-ion Batteries
       6.3.    Sealed Lead Acid Batteries
       6.4.    Nickel-Metal Hydride Batteries
       6.5.    Ultracapacitors
       6.6.    Solid-state Batteries
       6.7.    Other Battery Types

7.    North American Electric Vehicle Batteries Market, By Capacity
       7.1.    Introduction
       7.2.    51kWh to 100kWh
       7.3.    Less than 50kWh
       7.4.    101kWh to 300kWh
       7.5.    More than 300kWh

8.    North American Electric Vehicle Batteries Market, By Bonding Type
       8.1.    Introduction
       8.2.    Wire Bonding
       8.3.    Laser Bonding

9.    North American Electric Vehicle Batteries Market, By Form
       9.1.    Introduction
       9.2.    Prismatic
       9.3.    Pouch
       9.4.    Cylindrical 

10.    North American Electric Vehicle Batteries Market, By Application
         10.1.    Introduction
         10.2.    Electric Cars
                    10.2.2.    Battery Electric Vehicles
                    10.2.2.    Plug-in Hybrid Electric Vehicles
                    10.2.3.    Pure Hybrid Electric Vehicles
         10.3.    Light Commercial Vehicles
         10.4.    Heavy Commercial Vehicles
         10.5.    E-Scooters & Motorcycles
         10.6.    E-bikes

11.   North American Electric Vehicle Batteries Market, By End-user
        11.1.    Introduction
        11.2.    Electric Vehicle OEMS
        11.3.    Battery Swapping Stations

12.    North American Electric Vehicle Batteries Market, By Country
         12.1.    Introduction
                    12.1.1.    U.S.
                    12.1.2.    Canada

13.    Competitive Landscape
         13.1.    Introduction
         13.2.    Key Growth Strategies
         13.3.    Market Share Analysis (2020)
13.3.1.    Quantumscape Corporation
13.3.2.    American Battery Solutions, Inc. (ABS)
13.3.3.    Electrovaya Inc.

14.    Company Profiles(Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
         14.1.    Quantumscape Corporation
         14.2.    American Battery Solutions, Inc.
         14.3.    Electrovaya Inc.
         14.4.    NOHMsTechnologies, Inc
         14.5.    Clarios
         14.6.    Romeo Power, Inc.

15    Appendix
        15.1.    Questionnaire


List of Tables
Table 1    Impact of COVID-19 on North American EV Batteries Market (USD Million)
Table 2    Comparison of U.S. Mineral Reserves and Manufacturing Capacities Versus the World
Table 3    North American EV Batteries Market Size, By Type, 2019–2028 (USD Million)
Table 4    North American Lithium-ion EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 5    North American Sealed Lead Acid EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 6    North American Nickel-Metal Hydride EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 7    North American Ultracapacitors EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 8    North American Solid-state EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 9    North American Other Battery Types Market Size, By Country, 2019–2028 (USD Million)
Table 10   North American EV Batteries Market Size, By Capacity, 2019–2028 (USD Million)
Table 11    North American 51kWh To 100kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 12    North American Less Than 50kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 13    North American 101kWh To 300kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 14    North American More Than 300kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 15    North American EV Batteries Market Size, By Bonding Type, 2019–2028 (USD Million)
Table 16    North American Wire Bonding EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 17    North American Laser Bonding EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 18    North American EV Batteries Market Size, By Form, 2019–2028 (USD Million)
Table 19    North American Prismatic EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 20    North American Pouch EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 21    North American Cylindrical EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 22    North American EV Batteries Market Size, By Application, 2019–2028 (USD Million)
Table 23    North American EV Batteries Market Size for Electric Cars, By Type, 2019–2028 (USD Million)
Table 24    North American EV Batteries Market Size for Electric Cars, By Country, 2019–2028 (USD Million)
Table 25    North American EV Batteries Market Size for Battery Electric Vehicles, By Type, 2019–2028 (USD Million)
Table 26    North American EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 27    North American Lithium-ion EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 28  North American Nickel-Metal Hydride EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 29    North American Ultracapacitors EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 30    North American Solid-state Batteries EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 31   North American Other Battery Types Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 32   North American EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Type, 2019–2028 (USD Million)
Table 33   North American EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 34   North American Lithium-ion EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 35  North American Ultracapacitors EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 36   North American Solid-state Batteries EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 37    North American Other EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 38    North American EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Type, 2019–2028 (USD Million)
Table 39    North American EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 40    North American Lithium-ion EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 41    North American Nickel-Metal Hydride EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 42    North American Ultracapacitors EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 43    North American Solid-state Batteries EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 44    North American Other EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 45    North American EV Batteries Market For Light Commercial Vehicles Size, By Country, 2019–2028 (USD Million)
Table 46    North American EV Batteries Market For Heavy Commercial Vehicles Size, By Country, 2019–2028 (USD Million)
Table 47    North American EV Batteries Market For E-Scooters & Motorcycles Size, By Country, 2019–2028 (USD Million)
Table 48    North American EV Batteries Market For E-Bikes Size, By Country, 2019–2028 (USD Million)
Table 49    North American EV Batteries Market Size, By End User, 2019–2028 (USD Million)
Table 50    North American EV Batteries Market Size for Electric Vehicle Oems, By Country, 2019–2028 (USD Million)
Table 51    North American EV Batteries Market Size for Battery Swapping Stations, By Country, 2019–2028 (USD Million)
Table 52    U.S.: EV Batteries Market Size, By Type, 2019–2028 (USD Million)
Table 53    U.S.: EV Batteries Market Size, By Capacity, 2019–2028, (USD Million)
Table 54    U.S.: EV Batteries Market Size, By Bonding Type, 2019–2028, (USD Million)
Table 55    U.S.: EV Batteries Market Size, By Form, 2019–2028, (USD Million)
Table 56    U.S.: EV Batteries Market Size, By Application, 2019–2028, (USD Million)
Table 57    U.S.: EV Batteries Market Size for Electric Cars, By Type, 2019–2028, (USD Million)
Table 58    U.S.: EV Batteries Market Size for Battery Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 59    U.S.: EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 60    U.S.: EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 61    U.S.: EV Batteries Market Size, By End User, 2019–2028, (USD Million)
Table 62    Canada: EV Batteries Market Size, By Type, 2019–2028 (USD Million)
Table 63    Canada: EV Batteries Market Size, By Capacity, 2019–2028, (USD Million)
Table 64    Canada: EV Batteries Market Size, By Bonding Type, 2019–2028, (USD Million)
Table 65    Canada: EV Batteries Market Size, By Form, 2019–2028, (USD Million)
Table 66    Canada: EV Batteries Market Size, By Application, 2019–2028, (USD Million)
Table 67    Canada: EV Batteries Market Size for Electric Cars, By Type, 2019–2028, (USD Million)
Table 68    Canada: EV Batteries Market Size for Battery Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 69    Canada: EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 70    Canada: EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 71    Canada: EV Batteries Market Size, By End User, 2019–2028, (USD Million)
Table 72    Recent Key Developments, By Company (2018–2021)

List of Figures

Figure 1    Market Ecosystem
Figure 2    Currency and Limitations
Figure 3    Key Stakeholders
Figure 4    Research Process
Figure 5    Key Secondary Sources
Figure 6    Key Executives Interviewed
Figure 7    Primary Research Techniques
Figure 8    Market Size Estimation 
Figure 9    Key Insights
Figure 10    Lithium-Ion Batteries Segment to Grow at the Highest CAGR During The Forecast Period
Figure 11    51kWh To 100kWh Segment to Grow at the Highest CAGR During The Forecast Period
Figure 12    North American EV Batteries Market, By Bonding Type, 2021 Vs. 2028, (USD Million)
Figure 13    Pouch Segment is Expected to Grow at the Highest CAGR During the Forecast Per
Figure 14    In 2021, the Electric Cars Segment Accounted for the Largest Share of the North American EV Batteries Market 
Figure 15    North American EV Batteries Market, By End User, 2021 Vs. 2028 (USD Million)
Figure 16    Geographic Snapshot: North American EV Batteries Market 
Figure 17    The Impact of COVID-19 on the North American EV Batteries Market
Figure 18    Market Dynamics
Figure 19    Electric Vehicle Battery Value Chain
Figure 20    North American EV Batteries Market, By Type, 2021 Vs. 2028 (USD Million)
Figure 21    North American EV Batteries Market, By Capacity, 2021 Vs. 2028 (USD Million)
Figure 22    North American EV Batteries Market, By Bonding Type, 2021 Vs. 2028 (USD Million)
Figure 23    North American EV Batteries Market, By Form, 2021 Vs. 2028 (USD Million)
Figure 24    North American EV Batteries Market, By Application, 2021 Vs. 2028 (USD Million)
Figure 25    North American EV Batteries Market, By End User, 2021 Vs. 2028 (USD Million)
Figure 26    EV Batteries Market, By Country, 2021 Vs. 2028, (USD Million)
Figure 27    Key Growth Strategies Adopted By Leading Players (2018–2021)
Figure 28    Romeo Power, Inc.: Finacial Snapshot (2020)
Figure 29    Electrovaya Inc.: Finacial Snapshot (2020)

 

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1.    Introduction
       1.1.    Market Definition
       1.2.    Market Ecosystem
       1.3.    Currency and Limitations
                 1.3.1.    Key Stakeholders

2.    Research Methodology
       2.1.    Research Process
       2.2.    Data Collection & Validation
                 2.2.1.    Secondary Research
                 2.2.2.    Primary Research
                 2.2.3.    Market Size Estimation

3.    Executive Summary

4.    COVID-19 Impact Assessment
       4.1.   Scenario A: Severe Impact
       4.2.    Scenario B: Slow Recovery
       4.3.    Scenario C: Fast Recovery

5.    Market Insights
       5.1.    Introduction
       5.2.    Market Dynamics
                 5.2.1.    Drivers
                              5.2.1.1. Increasing Investments by Leading Automotive OEMS to Set up Battery Manufacturing Facilities in the Region
                              5.2.1.2. Increasing Adoption of EVs
                              5.2.1.3. Decreasing Battery Prices
                 5.2.2.    Opportunities
                              5.2.2.1. Increasing Investments in Alternative Battery Technology
                 5.2.3.    Challenges
                              5.2.3.1. High Import Cost of Raw Materials for Battery Manufacturing
                              5.2.3.2. Less Energy Density of Batteries
       5.3.    Value Chain Analysis

6.    North American Electric Vehicle Batteries Market, By Type
       6.1.    Introduction
       6.2.    Lithium-ion Batteries
       6.3.    Sealed Lead Acid Batteries
       6.4.    Nickel-Metal Hydride Batteries
       6.5.    Ultracapacitors
       6.6.    Solid-state Batteries
       6.7.    Other Battery Types

7.    North American Electric Vehicle Batteries Market, By Capacity
       7.1.    Introduction
       7.2.    51kWh to 100kWh
       7.3.    Less than 50kWh
       7.4.    101kWh to 300kWh
       7.5.    More than 300kWh

8.    North American Electric Vehicle Batteries Market, By Bonding Type
       8.1.    Introduction
       8.2.    Wire Bonding
       8.3.    Laser Bonding

9.    North American Electric Vehicle Batteries Market, By Form
       9.1.    Introduction
       9.2.    Prismatic
       9.3.    Pouch
       9.4.    Cylindrical 

10.    North American Electric Vehicle Batteries Market, By Application
         10.1.    Introduction
         10.2.    Electric Cars
                    10.2.2.    Battery Electric Vehicles
                    10.2.2.    Plug-in Hybrid Electric Vehicles
                    10.2.3.    Pure Hybrid Electric Vehicles
         10.3.    Light Commercial Vehicles
         10.4.    Heavy Commercial Vehicles
         10.5.    E-Scooters & Motorcycles
         10.6.    E-bikes

11.   North American Electric Vehicle Batteries Market, By End-user
        11.1.    Introduction
        11.2.    Electric Vehicle OEMS
        11.3.    Battery Swapping Stations

12.    North American Electric Vehicle Batteries Market, By Country
         12.1.    Introduction
                    12.1.1.    U.S.
                    12.1.2.    Canada

13.    Competitive Landscape
         13.1.    Introduction
         13.2.    Key Growth Strategies
         13.3.    Market Share Analysis (2020)
13.3.1.    Quantumscape Corporation
13.3.2.    American Battery Solutions, Inc. (ABS)
13.3.3.    Electrovaya Inc.

14.    Company Profiles(Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
         14.1.    Quantumscape Corporation
         14.2.    American Battery Solutions, Inc.
         14.3.    Electrovaya Inc.
         14.4.    NOHMsTechnologies, Inc
         14.5.    Clarios
         14.6.    Romeo Power, Inc.

15    Appendix
        15.1.    Questionnaire


List of Tables
Table 1    Impact of COVID-19 on North American EV Batteries Market (USD Million)
Table 2    Comparison of U.S. Mineral Reserves and Manufacturing Capacities Versus the World
Table 3    North American EV Batteries Market Size, By Type, 2019–2028 (USD Million)
Table 4    North American Lithium-ion EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 5    North American Sealed Lead Acid EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 6    North American Nickel-Metal Hydride EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 7    North American Ultracapacitors EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 8    North American Solid-state EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 9    North American Other Battery Types Market Size, By Country, 2019–2028 (USD Million)
Table 10   North American EV Batteries Market Size, By Capacity, 2019–2028 (USD Million)
Table 11    North American 51kWh To 100kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 12    North American Less Than 50kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 13    North American 101kWh To 300kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 14    North American More Than 300kWh EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 15    North American EV Batteries Market Size, By Bonding Type, 2019–2028 (USD Million)
Table 16    North American Wire Bonding EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 17    North American Laser Bonding EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 18    North American EV Batteries Market Size, By Form, 2019–2028 (USD Million)
Table 19    North American Prismatic EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 20    North American Pouch EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 21    North American Cylindrical EV Batteries Market Size, By Country, 2019–2028 (USD Million)
Table 22    North American EV Batteries Market Size, By Application, 2019–2028 (USD Million)
Table 23    North American EV Batteries Market Size for Electric Cars, By Type, 2019–2028 (USD Million)
Table 24    North American EV Batteries Market Size for Electric Cars, By Country, 2019–2028 (USD Million)
Table 25    North American EV Batteries Market Size for Battery Electric Vehicles, By Type, 2019–2028 (USD Million)
Table 26    North American EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 27    North American Lithium-ion EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 28  North American Nickel-Metal Hydride EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 29    North American Ultracapacitors EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 30    North American Solid-state Batteries EV Batteries Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 31   North American Other Battery Types Market Size for Battery Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 32   North American EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Type, 2019–2028 (USD Million)
Table 33   North American EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 34   North American Lithium-ion EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 35  North American Ultracapacitors EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 36   North American Solid-state Batteries EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 37    North American Other EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 38    North American EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Type, 2019–2028 (USD Million)
Table 39    North American EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 40    North American Lithium-ion EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 41    North American Nickel-Metal Hydride EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 42    North American Ultracapacitors EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 43    North American Solid-state Batteries EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 44    North American Other EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Country, 2019–2028 (USD Million)
Table 45    North American EV Batteries Market For Light Commercial Vehicles Size, By Country, 2019–2028 (USD Million)
Table 46    North American EV Batteries Market For Heavy Commercial Vehicles Size, By Country, 2019–2028 (USD Million)
Table 47    North American EV Batteries Market For E-Scooters & Motorcycles Size, By Country, 2019–2028 (USD Million)
Table 48    North American EV Batteries Market For E-Bikes Size, By Country, 2019–2028 (USD Million)
Table 49    North American EV Batteries Market Size, By End User, 2019–2028 (USD Million)
Table 50    North American EV Batteries Market Size for Electric Vehicle Oems, By Country, 2019–2028 (USD Million)
Table 51    North American EV Batteries Market Size for Battery Swapping Stations, By Country, 2019–2028 (USD Million)
Table 52    U.S.: EV Batteries Market Size, By Type, 2019–2028 (USD Million)
Table 53    U.S.: EV Batteries Market Size, By Capacity, 2019–2028, (USD Million)
Table 54    U.S.: EV Batteries Market Size, By Bonding Type, 2019–2028, (USD Million)
Table 55    U.S.: EV Batteries Market Size, By Form, 2019–2028, (USD Million)
Table 56    U.S.: EV Batteries Market Size, By Application, 2019–2028, (USD Million)
Table 57    U.S.: EV Batteries Market Size for Electric Cars, By Type, 2019–2028, (USD Million)
Table 58    U.S.: EV Batteries Market Size for Battery Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 59    U.S.: EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 60    U.S.: EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 61    U.S.: EV Batteries Market Size, By End User, 2019–2028, (USD Million)
Table 62    Canada: EV Batteries Market Size, By Type, 2019–2028 (USD Million)
Table 63    Canada: EV Batteries Market Size, By Capacity, 2019–2028, (USD Million)
Table 64    Canada: EV Batteries Market Size, By Bonding Type, 2019–2028, (USD Million)
Table 65    Canada: EV Batteries Market Size, By Form, 2019–2028, (USD Million)
Table 66    Canada: EV Batteries Market Size, By Application, 2019–2028, (USD Million)
Table 67    Canada: EV Batteries Market Size for Electric Cars, By Type, 2019–2028, (USD Million)
Table 68    Canada: EV Batteries Market Size for Battery Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 69    Canada: EV Batteries Market Size for Plug-In Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 70    Canada: EV Batteries Market Size for Pure Hybrid Electric Vehicles, By Battery Type, 2019–2028, (USD Million)
Table 71    Canada: EV Batteries Market Size, By End User, 2019–2028, (USD Million)
Table 72    Recent Key Developments, By Company (2018–2021)

List of Figures

Figure 1    Market Ecosystem
Figure 2    Currency and Limitations
Figure 3    Key Stakeholders
Figure 4    Research Process
Figure 5    Key Secondary Sources
Figure 6    Key Executives Interviewed
Figure 7    Primary Research Techniques
Figure 8    Market Size Estimation 
Figure 9    Key Insights
Figure 10    Lithium-Ion Batteries Segment to Grow at the Highest CAGR During The Forecast Period
Figure 11    51kWh To 100kWh Segment to Grow at the Highest CAGR During The Forecast Period
Figure 12    North American EV Batteries Market, By Bonding Type, 2021 Vs. 2028, (USD Million)
Figure 13    Pouch Segment is Expected to Grow at the Highest CAGR During the Forecast Per
Figure 14    In 2021, the Electric Cars Segment Accounted for the Largest Share of the North American EV Batteries Market 
Figure 15    North American EV Batteries Market, By End User, 2021 Vs. 2028 (USD Million)
Figure 16    Geographic Snapshot: North American EV Batteries Market 
Figure 17    The Impact of COVID-19 on the North American EV Batteries Market
Figure 18    Market Dynamics
Figure 19    Electric Vehicle Battery Value Chain
Figure 20    North American EV Batteries Market, By Type, 2021 Vs. 2028 (USD Million)
Figure 21    North American EV Batteries Market, By Capacity, 2021 Vs. 2028 (USD Million)
Figure 22    North American EV Batteries Market, By Bonding Type, 2021 Vs. 2028 (USD Million)
Figure 23    North American EV Batteries Market, By Form, 2021 Vs. 2028 (USD Million)
Figure 24    North American EV Batteries Market, By Application, 2021 Vs. 2028 (USD Million)
Figure 25    North American EV Batteries Market, By End User, 2021 Vs. 2028 (USD Million)
Figure 26    EV Batteries Market, By Country, 2021 Vs. 2028, (USD Million)
Figure 27    Key Growth Strategies Adopted By Leading Players (2018–2021)
Figure 28    Romeo Power, Inc.: Finacial Snapshot (2020)
Figure 29    Electrovaya Inc.: Finacial Snapshot (2020)

 

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