United States Battery Cell Market - Growth, Trends, COVID-19 Impact, Forecasts (2022 - 2027)
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.
Key HighlightsThe United States battery cell market is moderately fragmented. Some of the key players in the market include BYD Co. Ltd, Contemporary Amperex Technology Co. Limited, Duracell Inc., EnerSys, and Panasonic Corporation.
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