Key players operating in the U.S. Lightning Product Market Size are BYD Company Limited, Panasonic Corporation, Contemporary Amperex Technology Co. Limited, Samsung SDI Co. Ltd, TianJin Lishen Battery Joint-Stock CO. LTD, GS Yuasa Corporation, Duracell Inc., Clarios (Formerly Johnson Controls International PLC), VARTA AG, LG Chem Ltd, Tesla Inc. and EnerSys. The U.S. market has seen a growing demand for lithium-ion batteries from the electric vehicle industry driven by supportive policy initiatives and declining battery prices. EVs are expected to account for over 50% of new car sales across major U.S. cities by 2030. The increased adoption of EVs will significantly drive the demand for lithium-ion batteries.

The southeastern region, comprising states like Florida, Georgia, North Carolina, South Carolina and Tennessee, is emerging as the fastest growing region for the U.S. Lightning Product Market. This is due to a confluence of several favorable factors - a booming electronics industry with semiconductor companies setting up new manufacturing units, rising sales of passenger EVs led by Tesla's production facility in Texas, attractive incentive policies by state governments to boost local manufacturing and a lower initial market base which allows for higher growth rates compared to mature western markets. Over the forecast period, the total market value in this region is expected to grow at a CAGR exceeding 25%, highly outpacing other regions which makes it the brightest spot for lightning products companies targeting future expansion plans.

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