Market Size of United States Household Battery Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Household Battery Market Analysis
The US household battery market is expected to register a CAGR of over 5% during the forecast period.
The market was negatively impacted by COVID-19. The market has now reached pre-pandemic levels.
- With the increasing population and economic growth, the use of electronic appliances in the country is expected to grow over time. Household batteries are primarily used in electronic goods like smartphones, cameras, and many other electronic devices. The primary driver of the market studied is the growing use of electronic devices and technological development for longer-duration backup capabilities. Declining lithium-ion battery prices and technological developments are expected to drive the US household battery market during the forecast period.
- However, the demand-supply mismatch for raw material supply to manufacturing the batteries is expected to hinder the market growth during the forecast period.
- With an estimated population of around 398 million by 2050, the electronic market in the United States is expected to expand significantly. Technologies, such as developments in cell phone technology, and the implementation of artificial technology on electronic goods, are expected to transform digital technology to the way ahead. Moreover, the economy of the United States is expected to increase to USD 71,000 billion by 2050. Growth in the economy indicates growth in the lifestyle of people, thereby having a huge possibility for the adoption of updated technology, which is expected to create an opportunity for the market to grow in the near future.
US Household Battery Industry Segmentation
Household battery means any device consisting of one or more electrically connected cells, each cell consisting of an anode, a cathode, and an electrolyte, as well as such connections (electrical and mechanical) as may be required to allow such cells to deliver or receive electrical energy, and designed to receive, store, and deliver electric energy, provided that Automotive Batteries are not included. The market is segmented by type (alkaline batteries, lead-acid batteries, lithium-ion batteries, and other types). The report offers the market size and forecasts in revenue (USD billion) for all the above segments.
United States Household Battery Market Size Summary
The US household battery market is poised for significant growth, driven by the increasing adoption of electronic devices and advancements in technology that enhance battery life. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels. The proliferation of electronic appliances, coupled with economic growth, is expected to fuel demand for household batteries, particularly lithium-ion batteries, which are favored for their superior capacity-to-weight ratio and declining costs. Despite challenges such as raw material supply shortages, the market is anticipated to expand as technological innovations and economic improvements encourage the adoption of modern technologies.
Lithium-ion batteries are becoming the dominant choice in the household battery sector, largely due to their widespread use in smartphones, laptops, and other consumer electronics. The decreasing price of these batteries is making them more competitive, further driving their adoption. The US market is characterized by a fragmented landscape with key players like Duracell Inc., Energizer Holdings Inc., and Panasonic Corporation. Government initiatives, such as the US Department of Energy's investment in lithium-ion battery manufacturing facilities and the Inflation Reduction Act, are expected to bolster domestic production and innovation in the battery sector. These developments, alongside rising disposable incomes and reduced technology costs, are likely to enhance the penetration of battery-powered devices in American households.
United States Household Battery 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 United States Household Battery Market in USD million, 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 - BY TYPE
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2.1 Alkaline Batteries
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2.2 Lead-acid Batteries
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2.3 Lithium-ion Batteries
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2.4 Other Types
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United States Household Battery Market Size FAQs
What is the current United States Household Battery Market size?
The United States Household Battery Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in United States Household Battery Market?
Duracell Inc., Energizer Holdings Inc., HBL Power Systems Ltd, BYD Company Ltd. and Panasonic Corporation are the major companies operating in the United States Household Battery Market.
