United States Electric Vehicle Battery Market Key Players Analysis, Size, Growth, Trends and Forecast up to 2026
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Key Drivers of the United States Electric Vehicle Battery Market:
Various policies and legislation by the federal government for encouraging electric vehicles in the United States are a major factor supporting the market growth in this region. Proposal for a new effort has been made for supporting the advanced technology vehicle adoption by improvements to tax credits in current research, law, and development investments. The ongoing discussions between the federal and national parties regarding the rollback of 2025 fuel economy standards, followed by state authority under the Clean Air Act and the regulatory developments in the country, are some factors bolstering the growth of the electric vehicle battery market in the United States.
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The consumers are changing preference towards electric vehicles driven by the volatile prices of oil in the market. According to IEA, the United States had 1.1 million electric cars on the road by 2018 and contributed 22% of the global stock of electric cars at 1.1 million. The American Recovery and Reinvestment Act in 2009 launched conversion kits to add the capabilities of electric vehicles into conventionally powered vehicles and established tax credits for purchasing electric vehicles. Rising concern for the reduction of greenhouse emissions, coupled with the decreasing need for petroleum, are other important drivers fuelling the growth of electric vehicles, further increasing the growth in the United States electric vehicle battery market. In addition to this, Vehicle Technologies Office (VTO) is doing collaborations with national laboratories for decreasing the weight, cost, and volume of batteries and enhancing electric traction drive systems. The batteries will be improved by enhancing lithium-ion electro chemistries, developing modules and cells, followed by investigating new materials.
Additionally, the Advanced Research Project Agency (ARPA-E), a U.S Department of Energy Agency, has funded various projects of electric vehicles, including batteries, automotive controls, and effective chargers. Various manufacturers are aiming at manufacturing the batteries at a decreased cost and also with raised energy density, making these batteries more effective and affordable, thereby fuelling the growth of the electric vehicle battery market in the United States over the upcoming years. The factors hampering the growth of the United States electric vehicle battery market include increasing initial cost and issues with the availability of infrastructure for the model, charging, and gaps in terms of knowledge.
This report splits the United States Electric Vehicle Battery Market as follows:
By Battery Type:
- Lead Acid Battery
- Lithium-Ion Battery
- Nickel-Metal Hydride Battery
- Solid State Battery
By Propulsion Type:
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Hybrid Electric Vehicle
By Vehicle Type:
- Two-Wheelers
- Three-Wheelers
- Electric Cars
- Electric Buses & Trucks
Competitive Landscape:
The United States electric vehicle battery market report also scans the competitive landscape and profiles the major players operating in the market including Panasonic Corporation, Envision AESC SDI Co. Ltd., BYD Company Limited, Tesla Inc., Samsung SDI Co. Ltd., Robert Bosch, General Motors, SK Innovation, Toshiba Corporation, and LG Chem, among others.
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