The US electric vehicle battery market is estimated to grow at a CAGR of over 11.0% during the forecast period. The increasing adoption of the electric vehicle in the US owing to the growing demand for the zero-emission vehicles coupled with the cohesive government subsidies for the purchase of electric vehicles is the key aspect to promote the growth electric vehicle battery market in the US. For instance, the US federal government had initiated a tax credit for plug-in electric vehicles purchased after December 2009. The tax credit ranges from $2,500 to $7,500 for each vehicle based on its battery capacity and gross vehicle weight rating. The ongoing technological advancement by the key players in the market to reduce the weight and size of the batteries is anticipated to offer considerable growth opportunities for the market in the US.

The market is segmented on the basis of battery type vehicle type, and propulsion technology. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on the battery type Li-ion batteries market is anticipated to showcase considerable growth due to its light-weight characteristic. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle. Based on the propulsion type, plug-in hybrid vehicles are anticipated to have considerable market growth during the forecast period. 

The key players operating in the market include Panasonic Corp., Hankook AtlasBX Co., Ltd., EnerSys, Inc., Crown Battery, Hitachi, Ltd., C&D Technologies, Inc., NEC Corp., and SK Innovation Co. Ltd.  In January 2020, SK Innovation Co. Ltd revealed its plan to build a second electric vehicle battery plant with a capacity equivalent to 10 GWh in Georgia, the US.  The second EV battery plant is anticipated to meet the rising demand of the electric vehicle batteries for Volkswagon AG’s electric vehicles, which in turn is expected to promote the growth of the electric vehicle battery market in the US. 

Research Methodology

The market study of the US electric vehicle battery market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. US Electric Vehicle Battery Market Research and Analysis by Battery type 
2. US Electric Vehicle Battery Market Research and Analysis by Vehicle type
3. US Electric Vehicle Battery Market Research and Analysis by Propulsion Technology

The Report Covers

• Comprehensive research methodology of the US electric vehicle battery market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the US electric vehicle battery market.
• Insights about market determinants which are stimulating the US electric vehicle battery market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.