U.S. Battery Market Size & Outlook, 2023-2030
U.S. battery market, 2018-2030 (US$M)
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U.S. battery market highlights
- The U.S. battery market generated a revenue of USD 16,912.9 million in 2023 and is expected to reach USD 42,641.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 14.1% from 2024 to 2030.
- In terms of segment, lithium ion was the largest revenue generating product in 2023.
- Sodium-ion is the most lucrative product segment registering the fastest growth during the forecast period.
Battery market data book summary
| Market revenue in 2023 | USD 16,912.9 million |
| Market revenue in 2030 | USD 42,641.7 million |
| Growth rate | 14.1% (CAGR from 2023 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Sodium-ion |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead Acid, Lithium Ion, Nickel-based, Sodium-ion, Flow Battery, Small Sealed Lead-acid Batteries |
| Key market players worldwide | BYD Co Ltd ADR, GS Yuasa Corp, Hitachi Ltd, Johnson Controls International PLC, LG Chem, NEC Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Toshiba Corporation |
Other key industry trends
- In terms of revenue, U.S. accounted for 14.3% of the global battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. battery market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 8,597.4 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to battery market will help companies and investors design strategic landscapes.
Lithium ion was the largest segment with a revenue share of 40% in 2023. Horizon Databook has segmented the U.S. battery market based on lead acid, lithium ion, nickel-based, sodium-ion, flow battery, small sealed lead-acid batteries covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing sales of electric vehicles in the U.S., owing to supportive federal policies coupled with the presence of market players in the country, are expected to drive the demand for batteries in the U.S. over the forecast period.
The new Corporate Average Fuel Economy standards (CAFE) mandate the fuel economy of passenger cars and light commercial vehicles plying on roads in the U.S., resulting in the surged adoption of electric vehicles in the country.
For instance, in April 2024, Sicona Battery Technologies, an Australian innovator in battery materials, announced its entry into the fast-growing U.S. battery components market with the opening of its first commercial manufacturing facility in the southeastern U.S. The company aims for phased construction of a 6,700 ton per annum silicon-carbon anode materials plant.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. battery market , including forecasts for subscribers. This country databook contains high-level insights into U.S. battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. battery market size, by product, 2018-2030 (US$M)
U.S. Battery Market Outlook Share, 2023 & 2030 (US$M)
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