The electric vehicle battery acts as a power source for the vehicle and utilizes chemical energy to provide motive power for the electric motors of battery electric vehicle (BEV) or hybrid electric vehicle (HEV). The electric vehicle battery also referred to as traction battery pack is charged through charging equipment for storing the energy and delivering it later to the vehicle accessories. The decreasing electric vehicle battery costs have further lowered the production costs of electric vehicles and increased the electrification of vehicles throughout the North American region.
Development of low-cost and high-performance electric vehicle batteries and increase in public charging infrastructure are expected to drive the North America electric vehicle battery market growth during the forecast period. However, an unstable supply of raw material and safety concerns associated with the battery are anticipated to hamper the growth of the North America electric vehicle battery market during the forecast period. Moreover, the development of the battery-as-a-service model and the rise in adoption of zero-emission electric vehicles are expected to offer lucrative opportunities for the market in the future.
The North America electric vehicle battery market is segmented based on battery type, propulsion type, vehicle type, and country. By battery type, it is divided into Lead-Acid battery, Lithium-ion battery, and others. Depending on propulsion type it is fragmented into battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. On the basis of vehicle type, it is classified into passenger cars, light commercial vehicles, heavy commercial vehicles, and two-wheelers. Country-wise, the market is analyzed across the U.S., Canada, and Mexico.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents an analytical depiction of the North American electric vehicle battery market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall North America electric vehicle battery market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the North American electric vehicle battery market with detailed impact analysis.
- The current North American electric vehicle battery market is quantitatively analyzed from 2020 to 2028 to benchmark financial competency.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
By Battery Type
o Lead-Acid Battery
o Lithium-Ion Battery
o Others
By Propulsion Type
o Battery Electric Vehicles
o Hybrid Electric Vehicles
o Plug-in Hybrid Electric Vehicle
By Vehicle Type
o Passenger Cars
o Light Commercial Vehicles
o Heavy Commercial Vehicles
o Two Wheelers
By Country
o U.S.
o Canada
o Mexico

KEY PLAYERS
o A123 Systems LLC
o ACDelco
o American Battery Solutions
o Clarios
o Emerson Electric Co.
o EnerSys
o Envision AESC Group Ltd.
o Exide Technologies
o Gridtential Energy, Inc.
o IAI America, Inc.
o Malema Engineering Corporation
o Mitsubishi Electric Corporation
o Omron Electronics LLC
o Panasonic Corporation
o PARKER-HANNIFIN CORPORATION
o PARKER-HANNIFIN Corporation Fluid System Connectors Division
o PARKER-HANNIFIN Corporation Instrumentation Products Division
o PARKER-HANNIFIN Corporation Veriflo Division
o Romeo Power, Inc.
o Samsung Electronics Co., Ltd.
o Watlow Electric Company