Battery Manufacturing in the US - Industry Market Research Report

Battery Manufacturing in the US - Industry Market Research Report

  • March 2021 •
  • 55 pages •
  • Report ID: 198795 •
  • Format: PDF
Juiced up: Industry revenue growth will likely be supported by increased demand for electric vehicles

Abstract

Battery Manufacturing in the US
The Battery Manufacturing industry is expected to expand over the five years to 2019. The industry’s growth is largely attributable to the increasing popularity of electric and hybrid vehicles among consumers brought about by companies such as Tesla Inc. As demand for electric vehicles has grown, demand for lithium-ion battery packs has grown in tandem. Separately from demand for EV batteries, demand for primary batteries (i.e. AA batteries) has also increased due to greater levels of consumer spending on electronics and growing new car sales. Over the five years to 2024, domestic production will continue to expand and the trade-weighted index will begin to reflect a weakening US dollar. In particular, the Federal Reserve’s latest move to hold off on interest rate hikes is expected to depress the value of the US dollar, making exports more competitive in international markets while having the opposite effect on imports in domestic markets. In addition, demand for EVs is forecast to continue growing as automakers continue to expand their EV and hybrid vehicle offerings.

This industry manufactures storage and primary batteries. Storage batteries are also known as secondary or rechargeable batteries; primary batteries are non-rechargeable. Industry products have a variety of uses in cell phones, medical equipment, households and the automotive and transport sectors.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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