United
States Electric Vehicle Battery Market

The GMI Research foresees an increase in the demand of the United
States Electric Vehicle Battery Market over the forecast period. This is
mainly because of the mounting endorsement of the lithium-ion battery, enhanced
performance, enlarged lifespan, and rising adoption of electric cars.

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Introduction of the United States Electric Vehicle Battery
Market

An electric vehicle or traction battery is used for the
impetus of electric vehicles. The vehicle is the heart of an electric vehicle
composed of various small arranged in a parallel configuration to achieve the
required voltage. The vehicle uses the power cumulated in the battery pack to
provide energy to the electric motors and rotate the wheels.  

Key Players of Market:

·        
Envision AESC SDI Co. Ltd.

·        
Panasonic Corporation

·        
General Motors

·        
Toshiba Corporation

·        
Tesla, Inc.

·        
LG Chem

·        
BYD Company Limited

·        
SK Innovation

·        
Samsung SDI Co., Ltd.

·        
Robert Bosch

United States Electric Vehicle Battery Market Dynamics

Various policies and norms imposed by the federal government
to promote electric vehicles across the United States is contributing to the
growth of the United
States Electric Vehicle Battery Market. In addition, the proposition
for the advanced effort made for encouraging the acquisition of sophisticated
technology vehicles by improvements in research and development investments and
tax credit current law. Besides this, the persistent discussions between the
confederated and national parties concerned with the rollback of 2025
combustible economy norms coupled with the state authority under the Clean Air
Act and the managerial enhancements in the nation have bolstered the market
growth. In addition, the increasing inclination of individuals in favour of
electric vehicles as a result of the fluctuating prices of oil in the market is
another factor impelling the market growth. For example, in accordance with the
IEA, United States had approximately 1.1 million electric cars on the road
during 2018, accounting for 22% of the worldwide pile up of electric cars at
nearly 1.1 million. Further, the American Recovery and Reinvestment Act passed
in 2009 developed transformation kits to raise the potential of electric
vehicles into traditionally powered vehicles and introduced tax credits to
encourage the purchase of electric vehicles. Additionally, the surging
apprehension to minimize greenhouse discharge and eradicate the requirement for
petroleum are other factors complementing the market share. Moreover, as per
the Global Electric Vehicle Battery Market Size Report, Vehicle
Technologies Office (VTO) collaborated with national laboratories to decrease
the cost, weight, and volume of batteries by elevating electric traction drive
systems. These batteries are projected to be improved by enhancing lithium-ion
electro chemistries, introducing modules and cells, and investigating novel
materials.

In addition to it, according to the US Electric Vehicle
Battery market analysis the Advanced Research Project Agency (ARPA-E), a
department of US energy agency, allowanced several projects of electric
vehicles, such as automotive batteries, automotive controls, and efficient chargers.
Leading producers are concentrating on producing the batteries at an economical
value with raised energy density to make them affordable and effective, driving
the market growth. However, the inflated initial cost and accessibility issues
of infrastructure for the model, charging, and gaps in terms of knowledge are
restraining the US Electric Vehicle Battery market share.

Propulsion Type Segment Drivers

Based on the propulsion type, battery electric vehicle is
contemplated to expand at a faster CAGR over the coming years. It proffers
enormous features, such as superior acceleration, better strength without
producing tailpipe emissions, advantageous for the quality of local air with
the ability to be charged overnight at cost-effective electricity. It is also
known as an all-electric vehicle where an electric motor is powered by the
battery substituting the internal engine.

United States Electric Vehicle Battery Market Segmentation:

Segmentation
by Battery Type

·        
Lead Acid Battery

·        
Lithium-Ion Battery

·        
Nickel-Metal Hydride Battery

·        
Solid State Battery

Segmentation
by Propulsion Type

·        
Battery Electric Vehicle

·        
Plug-in Hybrid Electric Vehicle

·        
Hybrid Electric Vehicle

Segmentation
by Vehicle Type

·        
Two-Wheelers

·        
Three-Wheelers

·        
Electric Cars

·        
Electric Buses & Trucks

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