Product ID: SQMIR25A2288
North America EV Battery Market Size, Share, Growth Analysis, By Battery type(Lead-Acid battery, Lithium-ion battery), By Propulsion(battery electric cars, hybrid electric vehicles), By Vehicle type(two-wheelers, light commercial vehicles) - Industry Forecast 2024-2031
Report ID:
SQMIR25A2288 |
Region:
Regional |
Published Date: February, 2024
Pages:
265
|
Tables:
90 |
Figures:
76
North America EV Battery Market Regional Insights
The North American market for electric vehicle batteries is anticipated to be dominated by the United States, which will also have the fastest rate of growth. The rising use of electric cars in this region, the availability of cobalt and lithium raw material resources, and rising investment in EV battery research to meet rising EV battery demand are all aspects that have been linked to the fast growth of this nation.
The second-fastest growth throughout the projection is anticipated in Canada. The availability of cobalt, lithium, and other raw material deposits, as well as efforts by battery manufacturers to establish battery production factories, are reasons credited with this country's success. For instance, Martinrea, a car manufacturer, and NanoXplore, a producer of graphene, established a joint venture named VoltaXplore to create electric vehicle (EV) batteries with features including faster charging times, longer range, longer lifespan, and lower operating temperatures. The factory has a daily capacity of up to 1,000 batteries. The UK-based Britishvolt cell manufacturing firm intends to develop a 60GWh facility in Quebec. While the Canadian firm Stromvolt plans to build a 10GWh facility in Ontario.
North America EV Battery Market Report Snapshots
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