North America Lithium-ion Battery Market Destined to Reach US$ 31.6 Billion (CAGR of 12.4%) During 2023-2028

The latest report by IMARC Group, titled "North America Lithium-ion Battery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on 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$ 16.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.6 Billion by 2028, exhibiting a growth rate (CAGR) of 12.4% during 2023-2028.

The lithium-ion (Li-ion) battery refers to a type of rechargeable battery that consists of organic electrolytes, graphite anodes, lithium cobalt oxides, and manganese oxide cathode. It can handle a large number of charge and discharge cycles while possessing slow loss of charge, a low self-discharge rate, and no memory effect. It offers an excellent energy-to-weight ratio, high open circuit voltage, and does not require scheduled cycling. As a result, the battery is widely incorporated into various consumer electronics, such as tablets, laptops, electric toothbrushes, hoverboards, cell phones, Bluetooth headsets, headphones, digital cameras, game controllers, smoke detectors, and smartwatches. Additionally, it is also utilized in the aviation, military and defense, and automotive industries.

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Market Trends:

The escalating demand for consumer electronics among the masses is driving the market in North America. Moreover, the growing demand for electric vehicles (EVs) is fuelling the market as EVs rely on lithium-ion batteries for their energy storage needs, and as the demand for clean and sustainable transportation options grows, so does the demand for lithium-ion batteries. In line with this, the rising government initiatives and policies aimed at promoting clean energy and reducing greenhouse gas emissions are supporting the growth of the lithium-ion battery market.

Furthermore, continuous research and development activities are leading to advancements in lithium-ion battery technology, such as improved energy density, faster charging capabilities, and longer lifespan is creating a positive market outlook.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/north-america-lithium-ion-battery-market

Key Market Segmentation:

Breakup by Product Type:

• Lithium Cobalt Oxide
• Lithium Iron Phosphate
• Lithium Nickel Manganese Cobalt
• Lithium Manganese Oxide
• Others

Breakup by Power Capacity:

• 0 to 3000mAh
• 3000mAh to 10000mAh
• 10000mAh to 60000mAh
• More than 60000mAh

Breakup by Application:

• Consumer Electronics
• Electric Vehicles
• Energy Storage
• Others

Breakup by Region:

• United States
• Canada
• Mexico

Competitive Landscape:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• 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.

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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.

This release was published on openPR.