Growth in the US rechargeable battery market will average 5.3 percent annually through 2020, reaching $14.2 billion. Gains will be driven by strong hybrid and electric vehicle output, as wells as an increasing preference for lithium-based batteries in this application. In addition, increasing demand for more powerful, longer lasting, and lighter batteries in portable electronics will promote value gains.
This report segments the US rechargeable battery industry by chemistry and market. Data is provided in million US dollars.
Lead-acid will remain the largest of these in 2020, accounting for 65 percent of the market total. The fastest growth will be for rechargeable lithium, driven by the rising popularity of electric vehicles and trends away from nickel-metal hydride in hybrid vehicle applications.
Major rechargeable battery markets include:
Backup power supplies
Motor vehicles was the leading market in 2015, accounting for 55 percent of demand. The most rapid gains through 2020 are forecast for smaller, niche markets, primarily on the strong of increasingly popular electronic cigarettes and torrid anticipated advances in the nascent energy storage system market. Motive power will also see strong gains through 2020, supported by by increases in nonresidential fixed investment, mining activity, and the elderly population (which will help spur demand for battery-powered mobility vehicles).
This study includes sales data for industry participants such as C&D Technologies, Crown Battery, East Penn Manufacturing, Exide Technologies, EnerSys, General Motors (GM), LG Chem, Johnson Controls International, Panasonic, Saft Groupe, Sony, Tesla Motors, Trojan Battery, US Battery Manufacturing, and Wanxiang Group. In addition, the industry has seen a number of notable acquisitions and divestitures in recent years.