New report: U.S. battery industry powers $8.1 trillion in economic output, 48 million jobs
WASHINGTON, Feb. 5, 2024 /PRNewswire/ -- 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.
- "Batteries are a very small component of a much bigger product, but they are still a necessary component," EBP writes.
- 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.
- "The battery manufacturing industry is a hidden engine of economic growth for communities all across North America," said Roger Miksad, President and Executive Director of Battery Council International (BCI) , the leading trade association for the battery industry.