Battery Council International – New report, US battery industry powers $8.1 trillion in economic output, 48 million jobs.
Independent economic analysis and research firm EBP US has released a new report that estimates the U.S. battery industry powers roughly $8.1 trillion worth of domestic industrial economic output annually, or roughly 20% of the U.S. economy.
EBP, writes:
Batteries are a very small component of a much bigger product, but they are still a necessary component.
In its new report, “The Battery Fueled Economy: US Domestic and Supported Canadian Activity,” EBP used data from as recently as 2021 to identify both direct and downstream economic activity. The firm looked at each of 544 different sectors within an economic model that spanned both goods and services sectors.
Roger Miksad, President and Executive Director of Battery Council International (BCI), the leading trade association for the battery industry.
The battery manufacturing industry is a hidden engine of economic growth for communities all across North America.
BCI sponsored the report in partnership with EBP. “Cars and trucks, data centers, forklifts, renewable energy storage and more rely on batteries every day to provide the essential energy that powers the modern economy.”
In addition to the massive overall economic impact of $8.1 trillion annually, EBP also outlined the following details:
- 48.0 million U.S. jobs are related to or reliant on the battery industry
- $7.5 billion in annual demand for domestically produced energy storage solutions can be attributed to government and defense spending
- $7.1 billion in net sales are created for wholesale/retail outlets annually
- $12.2 billion worth of domestically produced storage batteries are purchased by industries for use in day-to-day operations
The full study on the economic impact of the U.S. battery industry can be found at batterycouncil.org/resource/us-battery-industry-economic-impact-report/
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Battery Council International – New report, US battery industry powers $8.1 trillion in economic output, 48 million jobs. source
