North America Battery Market Outlook, 2029

North America's industrial development and resource wealth make it an important part of the global economy, especially considering its large and diverse population. With over 500 million people living in big cities like Mexico City, New York, and Toronto, the population of the continent is concentrated, which stimulates enormous economic activity and consumer demand. With significant stocks of vital minerals like lithium, nickel, and cobalt resources essential to many sectors, including the manufacture of batteries North America is remarkably rich in minerals. An extensive industrial sector encompassing technology, manufacturing, and energy is bolstered by this natural richness. The industrial landscape of North America is defined by its state-of-the-art infrastructure, significant technological breakthroughs, and a robust emphasis on sustainability. The continent is at the forefront of research and development, particularly in sectors like renewable energy, electric vehicles (EVs), and innovative manufacturing processes. The automotive industry plays a pivotal role, marked by high levels of vehicle production and consumption, alongside an increasing focus on electric and hybrid vehicles. The surge in EV demand is largely influenced by heightened environmental regulations and a shift in consumer preferences towards sustainable transport options.

According to the research report "North America Batteries Market Overview, 2029," published by Bonafide Research, the North America batteries market was valued at more than USD 22.40 Billion in 2023. The battery market in this region has undergone remarkable growth and transformation in recent years, fuelled by the rising demand for energy-efficient and environmentally friendly power solutions. The rapid development of the electric vehicle sector, along with an increase in renewable energy initiatives, has significantly contributed to the expansion of the battery market. In response, manufacturers have made substantial investments in research and development to produce cutting-edge battery technologies that address the varied needs of both consumers and industries. The market has broadened its product range, offering everything from home energy storage systems to large-scale grid applications, in order to adapt to the changing energy demands of the region. The area's strong infrastructure, skilled labour force, and favorable regulatory conditions have further enhanced the growth of the battery industry, establishing it as a centre for innovation and technological advancements. As the global movement towards sustainable energy progresses, the battery market in this part of North America is set to play a crucial role in transforming the energy landscape and facilitating a transition to a more sustainable and resilient future.

The North American region has experienced a significant surge in the adoption of secondary batteries, particularly lithium-ion and lead-acid types, in recent years. This trend is largely driven by the rising demand for portable electronics, electric vehicles, and renewable energy storage solutions, which has made the need for efficient and reliable battery technologies more critical than ever. Secondary batteries, which can be recharged and reused, offer several advantages over primary batteries. They provide higher energy densities, longer operational lifespans, and the potential for recycling, positioning them as a more sustainable and cost-effective option in the long term. On the other hand, primary batteries, which are designed for one-time use and cannot be recharged, are facing increased criticism due to their environmental impact and the limited resources needed for their production. This has led to a shift in preferences among consumers and industries, driving the rapid growth of the secondary battery market in North America. Furthermore, advancements in battery chemistry, manufacturing processes, and charging infrastructure have accelerated the adoption of secondary battery technologies, reinforcing their status as the preferred energy source for a variety of applications in the region.

North America's battery business is heavily impacted by the need for lead, lithium, and nickel, all of which are essential components for various applications. Even though they are an older technology, lead-acid batteries are still frequently utilized in automotive applications, especially for backup power systems and conventional internal combustion engine (ICE) automobiles. However, as newer technologies start to take the lead, their market growth is steady rather than dynamic. The demand for electric vehicles (EVs) and renewable energy storage systems is driving a significant growth in lithium-ion batteries, which are renowned for their greater energy density and longer lifespan. Large-scale energy storage projects for solar and wind power, as well as the infrastructure supporting electric vehicles, relies heavily on lithium batteries in the shift to sustainable energy. Nickel batteries in North America offer high energy density, making them ideal for electric vehicles (EVs) and industrial applications. They provide long-lasting power and can operate in a wide range of temperatures. However, they are more expensive than lead-acid batteries, and nickel mining raises environmental concerns, affecting sustainability efforts.

The use of batteries has surged dramatically in recent years, particularly in North America, where growth has been remarkable. These power sources are now vital for a diverse range of contemporary devices and technologies, energizing everything from handheld gadgets and electric vehicles to systems for storing renewable energy. In North America, the appetite for batteries has exploded, fuelled by rapid developments in electric transportation, a commitment to sustainable energy practices, and the rise of smart home and consumer electronics. As electric vehicles become more mainstream, the demand for high-quality, durable batteries have intensified, leading to significant investments and innovations in this field. Additionally, the increasing dependence on renewable energy, such as solar and wind, has established a robust market for battery storage solutions that efficiently harness and distribute clean energy. Beyond transportation and energy, the relentless consumer demand for the latest smart devices, laptops, and portable technology has further enhanced the need for compact and efficient battery solutions. This diverse expansion in battery applications has established North America as a frontrunner in the creation and implementation of advanced battery technologies, with manufacturers and researchers consistently striving to enhance energy density, charging efficiency, and overall performance.





Covid-19 Impact:
The battery market was moderately impacted by the COVID-19 outbreak in Q1 of 2020. The market's growth declined due to the imposed lockdown that restricted the supply of batteries and other components as a result of severe disruptions in businesses and the global economy. The COVID-19 situation has exposed the over-dependency of countries, especially on China, for key raw materials. Major factors driving the market include declining lithium-ion battery prices, increasing adoption of electric vehicles, growing renewable energy sector, and increased sale of consumer electronics. Moreover, North America remains a pioneer in research and innovation in the global battery market and one of the largest consumers of batteries. On the other hand, the demand-supply mismatch of raw materials is expected to hinder the market’s growth during the forecast period.
Major Companies Present In the Market
A123 Systems LLC, BYD Company Limited, C&D Technologies Inc., Clarios, Contemporary Amperex Technology Corporation Limited, GS Yuasa International Limited, Hitachi Chemical Corporation Limited, LG Chem Limited, Panasonic Corporation, Saft Group SA, Samsung Corporation Limited, Sony Corporation, Toshiba Corporation

Considered In the Report
• Geography: North America
• Historical year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecasted year: 2029

Countries covered:
• US
• Canada
• Mexico

Aspects Covered In the Report
• Market Size By Value for the historic time period (2018-2023)
• Market Size By Value for the forecast time period (2024-2029)
• Market Share by Country
By Type
• Primary
• Secondary

By Technology
• Lead acid
• Lithium ion
• Nickel metal hybrid
• Nickel cadmium
• Others

By Application
• Automotive Batteries
• Industrial Batteries
• Portable Batteries


The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.


Intended Audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the battery manufacturers, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.