North America EV Battery Market to be Worth $73.70 Billion by 2031

1. North America EV Battery Market to be Worth $73.70 Billion by 2031

2. North America EV Battery Market - 2024 to 2031 Meticulous Research® has recently published a detailed analysis titled "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 2031." According to the report, the North America EV battery market is set to achieve a valuation of $73.70 billion by 2031, growing at an impressive CAGR of 34.4% between 2024 and 2031. This growth is largely driven by the increasing investments by leading automotive OEMs in regional battery manufacturing plants, rising EV adoption rates, and falling battery costs. Download Sample Report Here @ https://www.meticulousresearch.com/download- sample-report/cp_id=5219 The report also points to the potential for growth in alternative battery technologies, which could present new opportunities for industry stakeholders. However, the market faces significant challenges, including high import costs for raw materials and the relatively low energy density of current battery technologies, which could impede growth. The North America EV battery market is segmented by type, with lithium-ion batteries expected to hold the largest share, surpassing 87.0% in 2024. This segment's dominance is attributed to the superior energy density, compactness, and durability of lithium-ion batteries, which are increasingly being adopted for EV applications. The lithium-ion segment is also projected to register the highest CAGR during the forecast period, driven by OEMs' strategic collaborations aimed at advancing lithium-ion battery technology and securing a stable supply chain. In terms of capacity, the market is divided into several segments, with the 51 kWh to 100 kWh range anticipated to hold the largest share of over 91.0% in 2024. This growth is driven by automotive OEMs' efforts to launch long-range electric vehicles and government policies aimed at phasing out internal combustion engines by 2030. The 101 kWh to 300 kWh segment is expected to grow at the fastest rate, driven by global initiatives to electrify fleets and the increasing adoption of EVs in logistics and e-commerce. The report also segments the market by bonding type, with wire bonding expected to capture the largest share of over 79.0% in 2024. This is due to the high reliability, lower production costs, and ease of maintenance associated with wire bonding. However, the laser bonding segment is projected to experience the highest growth, thanks to its advantages in precision, speed, and efficiency in battery pack assembly. Regarding form, the pouch segment is expected to lead the market with a share exceeding 41.0% in 2024, driven by its higher energy density and improved safety features. The segment is also forecasted to achieve the highest CAGR, as automotive and battery OEMs increasingly adopt pouch cells for their superior performance. The report also examines the market based on application, with the electric cars segment anticipated to dominate with a share of over 90.0% in 2024. This growth is supported by rising environmental concerns, government initiatives to promote sustainable transportation, and the automotive industry's transition towards eco-friendly vehicles. However, the light commercial vehicles segment is expected to grow at the fastest rate, driven by fleet operators' transition to EVs and the expansion of EV manufacturers' commercial vehicle offerings. Page 1 of 2 © Meticulous Research| sales@meticulousresearch.com

3. North America EV Battery Market - 2024 to 2031 In terms of end users, the report projects that electric vehicle OEMs will account for the largest share of over 74.0% in 2024. This growth is attributed to the increasing adoption of EVs, significant investments in battery manufacturing, and the introduction of new EV models. The battery swapping stations segment is expected to experience the highest growth, driven by the expansion of battery-swapping services and the increasing number of such stations in major cities. Geographically, the U.S. is expected to lead the North American EV battery market, with a share exceeding 98.0% in 2024. This dominance is driven by substantial investments in EV battery research and development, as well as government initiatives to support the development of EV infrastructure. The U.S. is also projected to register the highest CAGR of over 31.0%, fueled by government incentives and the competitive landscape of new EV model launches. Key Players: Some of the key players operating in the North America EV battery 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). Key questions answered in the report- • Which are the high-growth market segments based on type, capacity, form, application bonding type, and end user? • What was the historical market for EV batteries in North America? • What are the market forecasts and estimates for the period 2024–2031? • What are the major drivers, restraints, and opportunities in the North America EV battery market? • Who are the major players, and what shares do they hold in the North America EV battery market? • What is the competitive landscape like in the North America EV battery market? • What are the recent developments in the North America EV battery market? • What are the different strategies adopted by the major players in the North America EV battery market? • What are the key geographic trends, and which are the high-growth countries? • Who are the local emerging players in the North America EV battery market, and how do they compete with the other players? BUY NOW : https://www.meticulousresearch.com/Checkout/52284271 Contact Us: Meticulous Research® Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 2 of 2 © Meticulous Research| sales@meticulousresearch.com