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U.S. Storage Battery Market. Analysis And Forecast to 2030

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Article Publishing Date: Jan 11, 2024

November 2023 Witnesses $2.7B Surge in Imports of Storage Batteries in United States

U.S. Storage Battery Imports

In November 2023, purchases abroad of storage batteries was finally on the rise to reach 76M units after two months of decline. Overall, imports, however, recorded a noticeable contraction. The growth pace was the most rapid in March 2023 when imports increased by 13% month-to-month. Over the period under review, imports attained the maximum at 114M units in November 2022; however, from December 2022 to November 2023, imports stood at a somewhat lower figure.

In value terms, storage battery imports expanded notably to $2.7B (IndexBox estimates) in November 2023. The total import value increased at an average monthly rate of +1.0% from November 2022 to November 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in January 2023 when imports increased by 28% against the previous month. As a result, imports attained the peak of $2.9B. From February 2023 to November 2023, the growth of imports failed to regain momentum. U.S. Storage Battery Imports By Country (Million USD)

COUNTRY	Import Value of Storage Battery in U.S. (million USD)
COUNTRY	Nov 2022	Dec 2022	Jan 2023	Feb 2023	Mar 2023	Apr 2023	May 2023	Jun 2023	Jul 2023	Aug 2023	Sep 2023	Oct 2023	Nov 2023
China	1,240	1,101	1,635	1,187	1,181	1,169	1,279	970	1,130	1,158	1,191	1,279	1,707
South Korea	452	366	452	323	328	331	431	409	362	394	402	363	264
Japan	254	314	248	287	311	255	206	330	271	270	266	207	227
Mexico	123	128	116	120	132	107	121	118	107	112	100	113	114
Malaysia	65.8	51.2	52.9	69.7	77.4	66.2	101	40.5	24.1	24.2	80.4	61.9	73.8
Vietnam	58.2	61.2	78.4	48.5	56.6	64.5	77.1	56.9	51.4	46.5	39.7	49.2	58.9
Others	212	240	306	315	307	299	297	271	309	282	269	294	264
Total	2,405	2,262	2,889	2,350	2,392	2,292	2,513	2,196	2,255	2,287	2,349	2,368	2,710

Imports by Country

In November 2023, China (33M units) constituted the largest supplier of storage battery to the United States, with a 43% share of total imports. Moreover, storage battery imports from China exceeded the figures recorded by the second-largest supplier, South Korea (16M units), twofold. The third position in this ranking was taken by Japan (11M units), with a 15% share.

From November 2022 to November 2023, the average monthly growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: South Korea (-6.2% per month) and Japan (-7.6% per month).

In value terms, China ($1.7B) constituted the largest supplier of storage battery to the United States, comprising 63% of total imports. The second position in the ranking was held by South Korea ($264M), with a 9.7% share of total imports. It was followed by Japan, with an 8.4% share.

From November 2022 to November 2023, the average monthly growth rate of value from China totaled +2.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: South Korea (-4.4% per month) and Japan (-0.9% per month).

Import Prices by Country

In November 2023, the storage battery price stood at $35.5 per unit (CIF, US), with an increase of 8.7% against the previous month. Overall, import price indicated a pronounced expansion from November 2022 to November 2023: its price increased at an average monthly rate of +4.4% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, storage battery import price increased by +79.3% against June 2023 indices. The most prominent rate of growth was recorded in September 2023 when the average import price increased by 32% against the previous month. The import price peaked in November 2023.

Prices varied noticeably by the country of origin: the country with the highest price was China ($51.4 per unit), while the price for Malaysia ($12.0 per unit) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Japan (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the storage battery market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

NAICS 335911 - Storage battery manufacturing

Companies mentioned:

Exide Technologies
Enersys
Ultralife Corporation
B456 Systems
Polypore International
Eaglepicher Technologies
Crown Battery Manufacturing Company
Trojan Battery Company
Energizer Battery Manufacturing
Robert Bosch Battery Systems
Tfi
Bren-Tronics
Valence Technology
Enerdel
Saft America
Hrg Group
Enersys Energy Products
Superior Battery Manufacturing Company
Ener1
Mathews Associates
Xalt Energy
Panasonic Energy Corporation of America, Greatbatch
Arotech Corporation
Duracell International
Enersys Delaware
A & A Manufacturing Company
Duracell
Energizer Battery
Ascent Batteries International

Country coverage:

United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the U.S.
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023

U.S. Storage Battery Market. Analysis And Forecast to 2030

November 2023 Witnesses $2.7B Surge in Imports of Storage Batteries in United States

U.S. Storage Battery Imports

Imports by Country

Import Prices by Country

Product coverage:

Companies mentioned:

Country coverage:

Data coverage:

Reasons to buy this report:

1. INTRODUCTION

2. EXECUTIVE SUMMARY

3. MARKET OVERVIEW

4. MOST PROMISING PRODUCT

5. MOST PROMISING SUPPLYING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

7. PRODUCTION

8. IMPORTS

9. EXPORTS

10. PROFILES OF MAJOR PRODUCERS

LIST OF TABLES

LIST OF FIGURES

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