Market Size of United States Battery Cell Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 15.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Battery Cell Market Analysis
The United States battery cell market is expected to register a CAGR of more than 15.1% during the forecast period. In 2020, the battery market was negatively impacted by the COVID-19 outbreak, with growth declining as a result of a lockdown that restricted the supply of batteries and other components because of severe disruptions in the global economy and businesses. Positive government policies have contributed to the growth, as well as an increase in investments in renewable energy, this led to an increase in the adoption of energy storage systems, which led to positively contributing to the demand for battery cells, which helps in driving the market growth. However, safety concerns regarding lithium-ion batteries are likely to hamper the market's growth.
- The Automotive batteries segment is expected to dominate the market, owing to the usage increasing EV adoption in the country, owing to the high usage of battery cells is expected to drive the market.
- Over the next decade, automakers are going to invest billions in producing battery cells in the United States to meet the rapidly growing demand for electric vehicles and is expected to create a significant number of opportunities for the market studied.
- Rising renewable energy generation is expected to boost the battery cell market, due to growing renewable generation leads to demand for energy storage systems. Essentially, battery storage systems (BESS) allow renewable energy sources, such as solar and wind, to be stored and used for energy needs.
US Battery Cell Industry Segmentation
United States battery cell market report includes:
| Type | |
| Prismatic | |
| Cylindrical | |
| Pouch |
| Application | |
| Automotive | |
| Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)) | |
| Consumer Electronics | |
| Other Applications |
United States Battery Cell Market Size Summary
The United States battery cell market is poised for significant growth, driven by the increasing adoption of electric vehicles (EVs) and the rising demand for energy storage systems. The market is experiencing a surge in investments, particularly in the automotive sector, where manufacturers are ramping up production to meet the burgeoning demand for EVs. This growth is further supported by favorable government policies and incentives that encourage EV adoption, such as tax credits and discounts. The expansion of battery cell production facilities, including the establishment of new Giga factories by major automakers, is expected to bolster the market's capacity and innovation. However, safety concerns related to lithium-ion batteries pose challenges that could impact market expansion.
In addition to the automotive sector, the renewable energy sector is a significant contributor to the battery cell market's growth. The increasing installation of solar photovoltaic systems and the development of battery-based energy storage projects are key drivers. Government initiatives like net metering have facilitated the adoption of solar energy, thereby boosting the demand for battery storage systems. The decreasing costs of solar installations have further accelerated this trend, making renewable energy more accessible and economically viable. The market is moderately fragmented, with key players such as BYD Co. Ltd, Contemporary Amperex Technology Co. Limited, and Panasonic Corporation actively participating in the market dynamics through innovations and strategic partnerships.
United States Battery Cell Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Prismatic
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2.1.2 Cylindrical
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2.1.3 Pouch
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2.2 Application
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2.2.1 Automotive
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2.2.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.))
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2.2.3 Consumer Electronics
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2.2.4 Other Applications
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United States Battery Cell Market Size FAQs
What is the current United States Battery Cell Market size?
The United States Battery Cell Market is projected to register a CAGR of greater than 15.10% during the forecast period (2024-2029)
Who are the key players in United States Battery Cell Market?
BYD Co. Ltd, Contemporary Amperex Technology Co. Limited, Duracell Inc., EnerSys and Panasonic Corporation are the major companies operating in the United States Battery Cell Market.
