United States Electric Vehicle Battery Market Global Industry Analysis, size, share and Forecast 2020-2026

Electric vehicle battery, also referred to as traction battery, can either be primary or a secondary rechargeable battery which is used for the momentum of electric vehicles. An electric vehicle battery is considered as the heart of an electric vehicle and is composed of several small, individual cells arranged in a series/parallel configuration in order to achieve the desired voltage. These batteries differ from SLI (Starting, Lighting and Ignition) batteries as they are designed to give power over sustained periods of time.

Several policies and legislation by the federal government for promoting electric vehicles in the United States is a factor driving the growth of the market in this region. Proposal for a new effort has been made for supporting the advanced technology vehicle adoption by enhancements to tax credits in current law, research and development investments along with various competitive programs for encouraging communities for investing in that infrastructure that supports these types of vehicles. The American Recovery and Reinvestment Act in 2009 established conversion kits to add the capabilities of electric vehicles into conventionally powered vehicles and also established tax credits for purchasing electric vehicles. Increasing concern for the reduction of greenhouse emissions along with eliminating the need for petroleum are some factors propelling the growth of United States electric vehicle battery market. Vehicle Technologies Office (VTO) is forming collaborations with national laboratories for reducing the cost, weight and volume of batteries and also improving electric traction drive systems. The batteries will be improved by improving lithium-ion electro chemistries, developing modules and cells along with investigating new materials.

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In addition, the Advanced Research Project Agency (ARPA-E), a U.S Department of Energy Agency, has funded several projects of electric vehicles, including automotive controls, batteries and effective chargers. Several manufacturers are focussing on manufacturing the batteries at a lower cost and also with increased energy density, making these batteries more affordable and effective leading to a growth of electric vehicle battery market in the United States during the forecast period. The factors restraining the growth of the United States electric vehicle battery market include high initial cost and issues with availability of infrastructure for charging, model and gaps in terms of knowledge.

Various notable players operating in the United States electric vehicle battery market include Panasonic Corporation, Tesla Inc., Envision AESC SDI Co. Ltd., BYD, LG Chem, Samsung SDI Co. Ltd., General Motors, Mitsubishi Electric Corporation, Hitachi Chemical Co. Ltd. and Toshiba Corporation among others.

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The United States electric vehicle battery market has been segmented on the basis of battery type, vehicle technology and vehicle type. Battery type market is segmented into Lithium Ion Battery, Lead Acid Battery and Others. Based on vehicle technology, the market is segmented into Battery Electric Vehicles, Hybrid Electric Vehicles and Plug-in Hybrid Vehicles. Vehicle type market is segmented into Electric Cars, Two-Wheelers, Electric Buses & Trucks and Others.

Key questions answered in this research report:
1- At what pace is United States electric vehicle battery market growing? What will be the growth trend in the future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the various application areas and how they are poised to grow?

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