A new article by EBP US, an independent economic and research analysis firm, reveals the massive economic impact of the US battery industry. The industry is estimated to contribute approximately $8.1 trillion to the national economy annually, accounting for around 20% of the entire US GDP.
While batteries may seem like a small component in a larger product, they play an essential role in its functioning. They are crucial for numerous sectors that rely on them to provide power for the modern economy. Cars, trucks, data centers, forklifts, and renewable energy storage facilities are just a few examples of these sectors.
The recently published report, titled „Battery-Powered Energy: Domestic Activity in the US and Supported by Canada,“ utilized up-to-date data from 2021 to analyze both direct and indirect economic activity. The study examined 544 different sectors within an economic model that encompassed goods and services sectors.
Rather than relying on specific quotes, the article emphasizes the belief of Roger Miksad, President and CEO of the Battery Council International (BCI), that battery production acts as a hidden engine of economic growth for communities throughout North America.
Furthermore, the EBP report reveals additional key findings:
– The battery industry and its dependent sectors account for approximately 48 million jobs in the United States.
– Government and military spending on energy storage solutions contribute an annual demand of $7.5 billion.
– Annual net wholesale/retail sales amount to $7.1 billion.
– The industrial sector purchases domestically produced batteries worth $12.2 billion for everyday operations.
For further information, you can access the full study on the Battery Council International’s website: [batterycouncil.org](https://batterycouncil.org/resource/us-battery-industry-economic-impact-report/)
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