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.
