UNITED STATES BATTERY MARKET FORECAST 2024-2032
SCOPE OF THE REPORT
United States Battery Market by Type (Primary Battery, Secondary Battery) Market by Technology (Lead-acid Battery, Lithium-ion Battery, Nickel-cadmium Battery, Nickel Metal Hydride Battery, Nickel-zinc (NIZN) Battery, Flow Battery, Sodium-sulfur (NAS) Battery, Zinc-manganese Dioxide Battery, Small Sealed Lead-acid Battery, Other Batteries) Market by Application (Automotive Batteries, Industrial Batteries, Portable Batteries, Power Tools Batteries, SLI Batteries, Other Applications)
REPORTS » ENERGY, POWER & UTILITIES » UTILITIES » UNITED STATES BATTERY MARKET FORECAST 2024-2032
MARKET OVERVIEW
The United States battery market is set to progress with a CAGR of 14.33% across the forecasting years. While the base year considered for the market studied is 2023, the forecasted period is from 2024 to 2032.
In recent years, significant investments by the United States government in battery technologies have been pivotal in strengthening the domestic battery market and fostering its growth. Notably, the United States Department of Energy (DOE) announced its plans to allocate $2.91 billion to boost the production of advanced batteries, which are crucial for the rapidly expanding clean energy sectors, including energy storage and electric vehicles. This funding is aimed at supporting the development of battery materials refining and production plants, recycling facilities, and battery cell and pack manufacturing facilities.
Furthermore, the initiative is expected to enhance the United States’ capacity to produce batteries and essential materials, thereby promoting energy independence, economic competitiveness, and national security. These projects emphasize advancements in connected vehicles, advanced batteries, and electric vehicle technologies. Efforts are also being made to strengthen the domestic supply chain of lithium batteries.
![United States Battery Market Size](https://inkwoodresearch.com/wp-content/uploads/edd/2024/06/United-States-Battery-Market-Size-1.jpg)
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Research and development in battery technologies have seen promising advancements. For example, in 2022, researchers at the University of Texas at Austin, partially funded by the United States National Science Foundation, developed a stable sodium-based battery material. This new material can recharge as quickly as conventional lithium-ion batteries and offers the potential for higher energy output. As a result, these strategic investments and innovative research efforts are expected to drive substantial growth in the United States battery market during the forecast period.
The United States battery market is segmented into type, technology, and application. The technology segment is further categorized into nickel-zinc (NiZn) battery, lead-acid battery, lithium-ion battery, sodium-sulfur (NAS) battery, nickel-cadmium battery, zinc-manganese dioxide battery, flow battery, nickel-metal hydride battery, small sealed lead-acid battery, and other batteries.
United States battery market : 14.33% CAGR (2024-2032)
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Nickel-metal hydride battery is a rechargeable battery, typically used in the majority of laptop computers, as well as in mobile phones, camcorders, and various other electronic devices. Nickel-metal hydride (NiMH) batteries are favored for their higher energy density compared to nickel-cadmium batteries and their environmental friendliness due to the absence of toxic cadmium. This makes them a popular choice not only for consumer electronics but also for hybrid vehicles, where they provide a reliable and efficient power source. The growing emphasis on sustainable and eco-friendly technologies further boosts the demand for NiMH batteries, reinforcing their role in various applications.
On the other hand, small sealed lead acid batteries are a widely utilized class of storage batteries, reputed for their broad range of applications. These mainly include medical devices, uninterrupted power supplies, telecommunications, and automotive. The growth in applications, as well as end-users, is expected to further proliferate the adoption of small sealed lead-acid batteries.
Small sealed lead-acid (SLA) batteries are also known for their robustness and cost-effectiveness, making them a reliable choice for high-power applications. Their maintenance-free design and long service life contribute to their widespread use in critical systems where reliability is paramount. As the demand for backup power solutions and energy storage systems grows, the adoption of SLA batteries is anticipated to increase, driven by their proven performance and adaptability in diverse settings.
Some of the prominent companies operating in the United States battery market include A123 Systems LLC, C&D Technologies Inc, Crown Battery Manufacturing Company, etc.
Crown Battery Manufacturing Company, headquartered in the United States, manufactures different types of chargers, batteries, and accessories. The company also manufactures and sells automotive batteries, commercial battery products, and industrial batteries and chargers across North America.
The company offers its products to cars, heavy-duty equipment, trucks, renewable energy systems, marine and recreational equipment, floor care equipment, golf and electric vehicles, aerial access equipment, and others.
REPORT SYNOPSIS
REPORT SCOPE | DETAILS |
---|---|
Market Forecast Years | 2024-2032 |
Base Year | 2023 |
Market Historical Years | 2018-2022 |
Forecast Units | Revenue ($ Million) |
Segments Analyzed | Type, Technology, and Application |
Countries Analyzed | The United States |
Companies Analyzed | A123 Systems LLC, C&D Technologies Inc, Crown Battery Manufacturing Company, Duracell, East Penn Manufacturing Co, Enersys, Eveready Industries, Exide Technologies, Johnson Controls Inc, Panasonic Corporation, Samsung SDI Co Ltd, Saft Groupe SA |
TABLE OF CONTENTS
RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- COUNTRY SNAPSHOT
- COUNTRY ANALYSIS
- SCOPE OF STUDY
- CRISIS SCENARIO ANALYSIS
- IMPACT OF COVID-19 ON THE BATTERY MARKET
- MAJOR MARKET FINDINGS
- ESCALATING DEVELOPMENTS IN LITHIUM-ION BATTERY TECHNOLOGY
- GOVERNMENT INITIATIVES AND POLICIES PROMOTING CLEAN ENERGY AND ELECTRIC MOBILITY
- GROWING EV MANUFACTURING
MARKET DYNAMICS
- KEY DRIVERS
- GROWING DEMAND FOR PORTABLE ELECTRONICS
- INCENTIVES FOR EV BATTERY MANUFACTURING
- HIGH DEMAND FOR AUTOMOTIVE APPLICATIONS, ESPECIALLY FROM ELECTRIC VEHICLES
- KEY RESTRAINTS
- SAFETY ISSUES RELATED TO BATTERY USAGE
- VOLATILITY IN RAW MATERIAL PRICES
- ISSUES RELATED TO BATTERY RECYCLING
- KEY DRIVERS
KEY ANALYTICS
- KEY MARKET TRENDS
- TECHNOLOGICAL ADVANCEMENTS IN BATTERY TECHNOLOGIES
- GROWING FOCUS ON SECOND-LIFE BATTERY APPLICATIONS
- RISING DEMAND FOR LARGER BATTERY PACKS
- PESTLE ANALYSIS
- POLITICAL
- ECONOMICAL
- SOCIAL
- TECHNOLOGICAL
- LEGAL
- ENVIRONMENTAL
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- GROWTH PROSPECT MAPPING
- GROWTH PROSPECT MAPPING FOR UNITED STATES
- MARKET CONCENTRATION ANALYSIS
- REGULATORY FRAMEWORK
- VALUE CHAIN ANALYSIS
- RAW MATERIAL
- MANUFACTURING & ASSEMBLY
- DISTRIBUTION
- END-USER APPLICATIONS
- AFTER-SALES SERVICES
- RECYCLING
- KEY BUYING CRITERIA
- ENERGY DENSITY
- BATTERY MEMORY
- LIFETIME
- DURABILITY
- KEY MARKET TRENDS
MARKET BY TYPE
- PRIMARY BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- SECONDARY BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- PRIMARY BATTERY
MARKET BY TECHNOLOGY
- LEAD-ACID BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- LITHIUM-ION BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- NICKEL-CADMIUM BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- NICKEL METAL HYDRIDE BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- NICKEL-ZINC (NIZN) BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- FLOW BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- SODIUM-SULFUR (NAS) BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- ZINC-MANGANESE DIOXIDE BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- SMALL SEALED LEAD-ACID BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- OTHER BATTERIES
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- LEAD-ACID BATTERY
MARKET BY APPLICATION
- AUTOMOTIVE BATTERIES
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- INDUSTRIAL BATTERIES
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- PORTABLE BATTERIES
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- POWER TOOLS BATTERIES
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- SLI BATTERIES
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- OTHER APPLICATIONS
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- AUTOMOTIVE BATTERIES
COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- MERGERS & ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- BUSINESS EXPANSIONS & DIVESTITURES
- COMPANY PROFILES
- A123 SYSTEMS LLC
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- C&D TECHNOLOGIES INC
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- CROWN BATTERY MANUFACTURING COMPANY
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- DURACELL
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- EAST PENN MANUFACTURING CO
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- ENERSYS
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- EVEREADY INDUSTRIES
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- EXIDE TECHNOLOGIES
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- JOHNSON CONTROLS INC
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- PANASONIC CORPORATION
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- SAMSUNG SDI CO LTD
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- SAFT GROUPE SA
- COMPANY OVERVIEW
- PRODUCTS
- STRENGTHS & CHALLENGES
- A123 SYSTEMS LLC
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – BATTERY
TABLE 2: REGULATORY FRAMEWORK
TABLE 3: UNITED STATES BATTERY MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 4: UNITED STATES BATTERY MARKET, BY TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 5: UNITED STATES BATTERY MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 6: UNITED STATES BATTERY MARKET, BY TECHNOLOGY, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 7: UNITED STATES BATTERY MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 8: UNITED STATES BATTERY MARKET, BY APPLICATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 9: LIST OF MERGERS & ACQUISITIONS
TABLE 10: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 11: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 12: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR UNITED STATES
FIGURE 4: MARKET CONCENTRATION ANALYSIS
FIGURE 5: VALUE CHAIN ANALYSIS
FIGURE 6: KEY BUYING CRITERIA
FIGURE 7: UNITED STATES BATTERY MARKET, GROWTH POTENTIAL, BY TYPE, IN 2023
FIGURE 8: UNITED STATES BATTERY MARKET, BY PRIMARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 9: UNITED STATES BATTERY MARKET, BY SECONDARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 10: UNITED STATES BATTERY MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2023
FIGURE 11: UNITED STATES BATTERY MARKET, BY LEAD-ACID BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 12: UNITED STATES BATTERY MARKET, BY LITHIUM-ION BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 13: UNITED STATES BATTERY MARKET, BY NICKEL-CADMIUM BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 14: UNITED STATES BATTERY MARKET, BY NICKEL METAL HYDRIDE BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 15: UNITED STATES BATTERY MARKET, BY NICKEL-ZINC (NIZN) BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 16: UNITED STATES BATTERY MARKET, BY FLOW BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 17: UNITED STATES BATTERY MARKET, BY SODIUM-SULFUR (NAS) BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 18: UNITED STATES BATTERY MARKET, BY ZINC-MANGANESE DIOXIDE BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 19: UNITED STATES BATTERY MARKET, BY SMALL SEALED LEAD-ACID BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 20: UNITED STATES BATTERY MARKET, BY OTHER BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 21: UNITED STATES BATTERY MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2023
FIGURE 22: UNITED STATES BATTERY MARKET, BY AUTOMOTIVE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 23: UNITED STATES BATTERY MARKET, BY INDUSTRIAL BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 24: UNITED STATES BATTERY MARKET, BY PORTABLE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 25: UNITED STATES BATTERY MARKET, BY POWER TOOLS BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 26: UNITED STATES BATTERY MARKET, BY SLI BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 27: UNITED STATES BATTERY MARKET, BY OTHER APPLICATIONS, 2024-2032 (IN $ MILLION)
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