Market Size of North America Consumer Battery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 9.79 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Consumer Battery Market Analysis
The North American consumer battery market is anticipated to register a CAGR of more than 9.79% over the forecast period. The market was negatively impacted by the outbreak of COVID-19. Currently, the market has reached pre-pandemic levels.
- Major factors driving the market include declining lithium-ion battery prices and increasing sales of consumer electronics. Moreover, North America remains a pioneer in research and innovation in the global consumer battery market and is also one of the largest consumers of batteries.
- On the other hand, the demand-supply mismatch of raw materials is likely to hinder the domestic manufacturing market growth during the forecast period.
- The plans to establish strong domestic manufacturing for li-ion batteries in the United States are expected to provide significant opportunities for the players involved in the market in the near future.
- The United States is expected to dominate the market during the forecast period, owing to the increasing sales of consumer electronics in the country.
