Industry Statistics and Trends
Market size and recent performance (2016-2031)
Industry revenue has grown at a CAGR of 37.9 % over the past five years, to reach an estimated $51.6bn in 2026.
Trends and Insights
Primary battery producers have undergone substantial restructuring
- Since companies compete mainly based on new product development, larger manufacturers opt for mergers and acquisitions to gain access to technologies developed by smaller producers. These practices make consolidation activity common among battery producers, particularly as manufacturers look to vertically integrate and reduce reliance on foreign suppliers.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2026-2031)
Market size is projected to grow over the next five years.
Trends and Insights
Market dynamics, demand drivers and overcapacity risks complicate investment decisions
- US battery manufacturing capacity reached 193 gigawatt-hours in late 2025 with an additional 428 gigawatt-hours likely to come online by 2030. However, BloombergNEF forecasts domestic demand of only 378 gigawatt-hours by 2030, creating a substantial capacity surplus. This projection represents a 56% reduction from forecasts issued before the One Big Beautiful Bill eliminated consumer EV incentives in September 2025. The mismatch between announced capacity and revised demand creates significant stranded asset risk for manufacturers.
Biggest companies in the Battery Manufacturing in the US
| Company | Market Share (%)
2025 | Revenue ($m)
2025 | Profit ($m)
2025 | Profit Margin (%)
2025 |
|---|---|---|---|---|
LG Energy Solution Ltd. | 9,292.5 | 248.9 | 2.7 | |
Tesla, Inc. | 5,308.3 | 217.6 | 4.1 | |
Enersys | 1,805.8 | 175.2 | 9.7 |
To view the market share and analysis for all 7 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Primary batteries, Secondary batteries and Other. Primary batteries is the largest segment of the Battery Manufacturing in the US.
Trends and Insights
Secondary batteries dominate as domestic manufacturing expands rapidly
- Multiple US-based lithium-ion battery manufacturers began operations in 2025 and early 2026, transforming the competitive landscape. LG Energy Solution and AESC lead production in Michigan and Tennessee, while SK Battery America and Samsung SDI plan to start energy storage system battery production in 2026. This domestic expansion responds to growing demand while helping manufacturers navigate foreign entity of concern restrictions under federal incentive programs.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Battery manufacturers produce storage and primary batteries. Storage batteries are also known as secondary or rechargeable batteries; primary batteries are nonrechargeable. Battery products have a variety of uses in the automotive and transport sectors and in cell phones, medical equipment and households.
What's included in this industry?
Products and services covered in the Battery Manufacturing industry in the United States include Primary battery manufacturing, Lead battery manufacturing, Battery part manufacturing and Other battery product manufacturing, including alkaline manganese primary batteries and flashlight batteries.Companies
Companies covered in the Battery Manufacturing industry in the United States include LG Energy Solution Ltd., Tesla, Inc. and Enersys.Purchase this report to view all 7 major companies in this industry.
Related Terms
Related terms covered in the Battery Manufacturing industry in the United States include primary battery, primary cell, dry cell, storage battery, battery, rechargeable, nonferrous metals and original equipment manufacturers (oem).Industry Code
NAICS 33591 - Battery Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Federal policy changes ended EV tax credits in September 2025, prompting manufacturers to redirect capacity toward stationary energy storage. This rapid shift created unexpec...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2016-2025) and forecast (2026-2031)
- Employees, including historical (2016-2025) and forecast (2026-2031)
- Businesses, including historical (2016-2025) and forecast (2026-2031)
- Profit, including historical (2016-2026)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Battery manufacturers cater to various industries and consumers. Producers sell different battery types through retail and wholesale channels domestically and globally, provi...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2026
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2026
- Major market segmentation in 2026
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Battery manufacturers benefit from being close to downstream markets, particularly near downstream manufacturing sectors. These strategies enable producers to give buyers acc...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2026
Tables
- Number and share of establishments in each state in 2026
- Number and share of revenue each state accounts for in 2026
- Number and share of wages each state accounts for in 2026
- Number and share of employees in each state in 2026
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Battery producers are racing to cut costs and shrink sizes. Companies aim to develop the most durable, compact batteries at the lowest prices, driving intense internal compet...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2021-2026
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Tesla is quickly becoming a major player in battery manufacturing in the US. The company has secured lucrative contracts with the federal government and numerous other downst...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2022 through 2026
- Major companies in the industry, including market share, revenue, profit and profit margin in 2026
- Overview of LG Energy Solution Ltd.'s performance by revenue, market share and profit margin from 2020 through 2026
- Overview of Tesla, Inc.'s performance by revenue, market share and profit margin from 2020 through 2026
- Overview of Enersys's performance by revenue, market share and profit margin from 2020 through 2026
- Overview of revenue, market share and profit margin trend for 4 additional companies
Detailed analysis
- Description and key data for LG Energy Solution Ltd., and factors influencing its performance in the industry
- Description and key data for Tesla, Inc., and factors influencing its performance in the industry
- Description and key data for Enersys, and factors influencing its performance in the industry
- Description, key data and performance trends for 4 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Consumer spending drives battery manufacturers’ success. When consumers have more disposable income, they become more willing to buy portable electronics, boosting demand for...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2016-2031)
- Assistance historical data and forecast (2016-2031)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Battery manufacturers face high purchase costs. These costs remain elevated because most expenses go toward input materials, which can be highly volatile and are necessary to...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2026
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2026
- Investment vs. share of economy
Data tables
- Industry Multiples (2019-2024)
- Industry Tax Structure (2019-2024)
- Income Statement (2019-2024)
- Balance Sheet (2019-2024)
- Liquidity Ratios (2019-2024)
- Coverage Ratios (2019-2024)
- Leverage Ratios (2019-2024)
- Operating Ratios (2019-2024)
- Cash Flow & Debt Service Ratios (2016-2031)
- Revenue per Employee (2016-2031)
- Revenue per Enterprise (2016-2031)
- Employees per Establishment (2016-2031)
- Employees per Enterprise (2016-2031)
- Average Wage (2016-2031)
- Wages/Revenue (2016-2031)
- Establishments per Enterprise (2016-2031)
- IVA/Revenue (2016-2031)
- Imports/Demand (2016-2031)
- Exports/Revenue (2016-2031)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2016-2031)
- IVA (2016-2031)
- Establishments (2016-2031)
- Enterprises (2016-2031)
- Employment (2016-2031)
- Exports (2016-2031)
- Imports (2016-2031)
- Wages (2016-2031)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Battery Manufacturing industry in the United States in 2026?
The market size of the Battery Manufacturing industry in the United States is $51.6bn in 2026.
How many businesses are there in the Battery Manufacturing industry in the United States in 2026?
There are 307 businesses in the Battery Manufacturing industry in the United States, which has grown at a CAGR of 9.6 % between 2021 and 2026.
How may import tariffs affect the Battery Manufacturing industry in the United States?
The Battery Manufacturing industry in the United States is likely to be significantly impacted by import tariffs with imports accounting for a high share of industry revenue.
How may export tariffs affect the Battery Manufacturing industry in the United States?
The Battery Manufacturing industry in the United States is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Battery Manufacturing industry in the United States grown or declined over the past 5 years?
The market size of the Battery Manufacturing industry in the United States has been growing at a CAGR of 37.9 % between 2021 and 2026.
What is the forecast growth of the Battery Manufacturing industry in the United States over the next 5 years?
Over the next five years, the Battery Manufacturing industry in the United States is expected to grow.
What are the biggest companies in the Battery Manufacturing industry in the United States?
The biggest companies operating in the Battery Manufacturing industry in the United States are LG Energy Solution Ltd., Tesla, Inc. and Enersys
What does the Battery Manufacturing industry in the United States include?
Primary battery manufacturing and Lead battery manufacturing are part of the Battery Manufacturing industry in the United States.
Which companies have the highest market share in the Battery Manufacturing industry in the United States?
The company holding the most market share in the Battery Manufacturing industry in the United States is LG Energy Solution Ltd..
How competitive is the Battery Manufacturing industry in the United States?
The level of competition is moderate and steady in the Battery Manufacturing industry in the United States.
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
