Total Downstream Economic Impact of All Domestically Manufactured Batteries Tops $10 Trillion in 2023
A new study shows the dramatic economic impact of the U.S. lead battery industry, including 106,000 direct jobs and more than $35 billion in business output nationwide.
Independent economic analysis and research firm EBP US released a new report in partnership with Battery Council International, the leading trade association for battery manufacturers, recyclers, and suppliers of raw materials and equipment for the energy storage industry. The analysis was built on detailed employment and production information for 2023, reported directly by leading U.S. lead battery firms.
Among other facts, the newly released report notes the following:
- Jobs: The U.S. lead battery industry featured 106,050 jobs, including both full-time and part-time positions across manufacturing, recycling, transportation and distribution, and other fields.
- Business Output: The total value of goods and services produced by the U.S. lead battery industry was $35.0 billion.
- Wages: Companies in the lead battery industry reported an average annual income of $81,600 across all activities, higher than the national average annual income of $72,300 across all U.S. industries. The highest reported wage segment in the lead battery industry was in battery recycling, where workers earned an annual average income of $119,700 per employee.
- Personal Income: The total economic activity generated by the U.S. lead battery industry resulted in $8.6 billion in income across the calendar year 2023 through wages, salaries, and other income earned by employees.
“The domestic lead battery industry is still thriving after more than 100 years of operation, offering good-paying jobs in rural communities that prove American manufacturing is alive and well,” said Roger Miksad, President and Executive Director of Battery Council International. “Lead batteries are a critical component across a wide range of applications from cars and trucks, forklifts, telecom backup centers, military equipment, and much more. That makes U.S. battery manufacturing a critical component of domestic supply chains as well as American economic growth.”
Downstream Economic Impact of Batteries Tops $10 Trillion
Lead batteries are just one energy storage solution supported by Battery Council International and its members. Other technologies, including flow batteries, lithium-ion technology, sodium, nickel, and others, drive the overall economic contribution of the broader battery industry even higher.
All told, the downstream effects of domestically produced batteries of all technologies include:
- 54+ million jobs related to or reliant on batteries, totaling roughly 1 out of every 4 U.S. jobs
- $3.6+ trillion in total labor income across all economic sectors
- $10.0+ trillion in battery-related economic output, which totals roughly 21% of all U.S. output
“Battery Council International is proud to support a diversity of energy storage solutions, from proven and safe lead batteries to more recent innovations like grid-scale flow batteries,” said Roger Miksad of BCI. “As the industry’s economic impact continues to grow, BCI urges policymakers to support domestic manufacturers of all battery types to ensure U.S. batteries continue to be made by American workers at American facilities.”
