Northern America: Lithium Battery Market 2024

Lithium Battery Market Size in Northern America

The North American lithium battery market soared to $X in 2021, picking up by 31% against the previous year. Overall, consumption continues to indicate a remarkable increase. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in years to come.

Lithium Battery Production in Northern America

In value terms, lithium battery production reduced markedly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 54% against the previous year. As a result, production reached the peak level of $X, and then declined markedly in the following year.

Lithium Battery Exports

Exports in Northern America

In 2021, overseas shipments of lithium cells ans batteries decreased by -24.8% to X tons, falling for the second consecutive year after three years of growth. In general, exports continue to indicate a deep setback. The growth pace was the most rapid in 2014 with an increase of 28%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, lithium battery exports stood at $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 13% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, the United States (X tons) was the largest exporter of lithium cells ans batteries, making up 77% of total exports. It was distantly followed by Canada (X tons), comprising a 23% share of total exports.

Exports from the United States decreased at an average annual rate of -8.9% from 2012 to 2021. Canada (-7.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Canada increased by +2.2 percentage points.

In value terms, the United States ($X) remains the largest lithium battery supplier in Northern America, comprising 92% of total exports. The second position in the ranking was held by Canada ($X), with a 7.8% share of total exports.

In the United States, lithium battery exports increased at an average annual rate of +2.1% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, picking up by 44% against the previous year. In general, the export price saw prominent growth. The pace of growth appeared the most rapid in 2020 when the export price increased by 111%. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+12.2%).

Lithium Battery Imports

Imports in Northern America

Lithium battery imports soared to X tons in 2021, with an increase of 17% against 2020 figures. In general, imports saw a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 32% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, lithium battery imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 24% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The United States was the main importing country with an import of around X tons, which reached 86% of total imports. It was distantly followed by Canada (X tons), constituting a 14% share of total imports.

The United States was also the fastest-growing in terms of the lithium cells ans batteries imports, with a CAGR of +8.8% from 2012 to 2021. At the same time, Canada (+5.6%) displayed positive paces of growth. From 2012 to 2021, the share of the United States increased by +3.5 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported lithium cells ans batteries in Northern America, comprising 83% of total imports. The second position in the ranking was held by Canada ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States stood at +2.5%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, flattening at the previous year. Overall, the import price saw a abrupt descent. The most prominent rate of growth was recorded in 2015 when the import price increased by 3.9% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-3.2%).

Source: IndexBox Platform