LATIN AMERICA BATTERY MARKET 2022-2028

Energy, Power & Utilities | Energy Storage

LATIN AMERICA BATTERY MARKET 2022-2028

Market by Battery Type, Technology, End-use and Country Outlook | Forecast 2022-2028

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According to a report by Triton Market Research, the battery market in Latin America is estimated to grow at a CAGR of 12.88% over the forecasting period 2022-2028.


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The countries studied in the market include:

•         Mexico

•         Brazil

•         Rest of Latin America

The factors such as the growth in strategic initiatives taken by the region’s market players, large-scale presence of lithium reserves, increase in demand and adoption of consumer electronics and household appliances for increasing deployment of different types of batteries are expected to promote the growth of the studied market in the region.

In Brazil, the high automobile production, product developments, and launches by market players plays a major factor in the growth of the battery market. Further, the significant development by market players has positively affected the market. For instance, Volkswagen Caminhões e Ônibus and Companhia Brasileira de Metalurgia e Mineração announced an agreement in 2021, with an aim to develop the super Niobium battery. Since niobium is abundant in the country, the companies signed an agreement to produce super batteries for large electric vehicles. Hence, such factors are expected to positively impact the country’s market growth during the forecast period.

Whereas, in Mexico, the factors such as high production of automobiles, product developments and advancements are expected to promote market growth. The country is likely one of the largest motor vehicle manufacturers in the region based on the number of units produced. In 2021, Mexico produced nearly 3.15 million vehicles comprising 2.5 million units of commercial vehicles. Further, in 2021, the country announced its plans to build the first plant for electric cars. Hence, such factors are expected to positively impact the market growth in Mexico during the forecasting period.

A flow battery is an electrochemical cell where two chemical components dissolved in liquids and pumped via the system on separate membrane sides offer chemical energy. These batteries are used as fuel cells or as rechargeable batteries. In addition, market players around the globe are increasingly developing and launching new and advanced products in flow batteries, catering to the requirements of end-users. For instance, Honeywell launched a new flow battery technology that works with sources of renewable generation such as solar and wind to meet the sustainable energy storage demand.

The studied report assesses the market’s growth according to battery type, technology and end-use. Here the technology segment comprises of lead-acid battery, lithium-ion battery, nickel-metal hydride (NiMH) battery, nickel-cadmium (NiCD) battery, nickel-zinc (NiZn) battery, flow battery, sodium-sulfur (NAS) battery, zinc-manganese dioxide battery, small sealed lead-acid battery, and other technologies.     

Leading companies in the battery market include Exide Technologies, A123 Systems LLC, Trojan Battery Company, Eveready Industries, Murata Manufacturing Co Ltd, Crown Battery Manufacturing Company and Panasonic Corporation.

Founded in 1926, Crown Battery Manufacturing Company is an America-based company that develops different types of batteries, chargers and accessories. The company offers its products to renewable energy systems, cars, trucks, floor care equipment, golf and electric vehicles, heavy-duty equipment, etc. It is a privately owned enterprise carrying out its operations in Fremont, Ohio, United States. The company has worked with the US Export-Import (EXIM) Bank for more than 20 years to expand to the global markets. EXIM has helped Crown Battery Manufacturing Company to export its locally manufactured recyclable lead-acid batteries to 60 countries across the globe.

 

Key deliverables of the report:

      Market CAGR during the forecasting years 2022-2028

      Detailed data highlighting key insights, industry components, and market strategies


      Comprehensive information and estimation of the battery market revenue growth in Latin America and its influence on the parent market


      In-depth study of forthcoming trends in consumer behavioral patterns


      A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces Model


      A wide-ranging study of factors that will challenge the Latin America battery market’s growth during the upcoming years

Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here

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Table of Content

1. LATIN AMERICA BATTERY MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON THE BATTERY MARKET

2.2. KEY INSIGHTS

2.2.1. INCREASING DEMAND FOR ENERGY STORAGE SYSTEMS

2.2.2. EMERGENCE OF AGM BATTERIES

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS INDEX

2.5. VENDOR SCORECARD

2.6. KEY MARKET STRATEGIES

2.6.1. PRODUCT LAUNCHES & DEVELOPMENTS

2.6.2. PARTNERSHIPS & AGREEMENTS

2.7. MARKET DRIVERS

2.7.1. RISING POPULARITY OF CONSUMER ELECTRONICS

2.7.2. INCENTIVES FOR MANUFACTURING ELECTRIC VEHICLE BATTERIES

2.7.3. DECLINING BATTERY PRICES

2.7.4. HIGH DEMAND FOR AUTOMOTIVE APPLICATIONS

2.8. MARKET CHALLENGES

2.8.1. SAFETY ISSUES PERTAINING TO BATTERY USAGE

2.8.2. VOLATILITY IN THE PRICES OF RAW MATERIALS

2.8.3. ISSUES PERTAINING TO BATTERY RECYCLING

2.9. MARKET OPPORTUNITIES

2.9.1. INCREASING PENETRATION OF MARINE BATTERIES

2.9.2. GOVERNMENT INCENTIVES FOR CLEANER TRANSPORTATION

3. LATIN AMERICA BATTERY MARKET OUTLOOK - BY BATTERY TYPE

3.1. PRIMARY BATTERY

3.2. SECONDARY BATTERY

4. LATIN AMERICA BATTERY MARKET OUTLOOK - BY TECHNOLOGY

4.1. LEAD-ACID BATTERY

4.2. LITHIUM-ION BATTERY

4.3. NICKEL-METAL HYDRIDE (NIMH) BATTERY

4.4. NICKEL-CADMIUM (NICD) BATTERY

4.5. NICKEL-ZINC (NIZN) BATTERY

4.6. FLOW BATTERY

4.7. SODIUM-SULFUR (NAS) BATTERY

4.8. ZINC-MANGANESE DIOXIDE BATTERY

4.9. SMALL SEALED LEAD-ACID BATTERY

4.10. OTHER TECHNOLOGIES

5. LATIN AMERICA BATTERY MARKET OUTLOOK - BY END-USE

5.1. AUTOMOTIVE BATTERIES

5.2. INDUSTRIAL BATTERIES

5.3. PORTABLE BATTERIES

5.4. POWER TOOLS BATTERIES

5.5. SLI BATTERIES

5.6. OTHER END-USES

6. LATIN AMERICA BATTERY INDUSTRY - COUNTRY OUTLOOK

6.1. BRAZIL

6.2. MEXICO

6.3. REST OF LATIN AMERICA

7. COMPETITIVE LANDSCAPE

7.1. JOHNSONS CONTROLS INC

7.2. GS YUASA INTERNATIONAL LTD

7.3. EXIDE TECHNOLOGIES

7.4. LG CHEM LTD

7.5. A123 SYSTEMS LLC

7.6. TOSHIBA CORPORATION

7.7. PANASONIC CORPORATION

7.8. SAMSUNG SDI CO LTD

7.9. SAFT GROUPE SA

7.10. TROJAN BATTERY COMPANY

7.11. BYD COMPANY LTD

7.12. NEC CORPORATION

7.13. EVEREADY INDUSTRIES

7.14. DURACELL

7.15. EAST PENN MANUFACTURING CO

7.16. CROWN BATTERY MANUFACTURING COMPANY

7.17. C&D TECHNOLOGIES INC

7.18. ENERSYS

7.19. MURATA MANUFACTURING CO LTD

7.20. SHENZHEN BAK BATTERY CO LTD

8. RESEARCH METHODOLOGY & SCOPE

8.1. RESEARCH SCOPE & DELIVERABLES

8.2. SOURCES OF DATA

8.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: LATIN AMERICA BATTERY MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: LATIN AMERICA BATTERY MARKET, BY BATTERY TYPE, 2022-2028, (IN $ MILLION)

TABLE 4: LATIN AMERICA BATTERY MARKET, BY TECHNOLOGY, 2022-2028, (IN $ MILLION)

TABLE 5: LATIN AMERICA BATTERY MARKET, BY END-USE, 2022-2028, (IN $ MILLION)

TABLE 6: LATIN AMERICA BATTERY MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: LATIN AMERICA BATTERY MARKET, BY BATTERY TYPE, 2021 & 2028 (IN %)

FIGURE 3: LATIN AMERICA BATTERY MARKET, BY PRIMARY BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 4: LATIN AMERICA BATTERY MARKET, BY SECONDARY BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 5: LATIN AMERICA BATTERY MARKET, BY TECHNOLOGY, 2021 & 2028 (IN %)

FIGURE 6: LATIN AMERICA BATTERY MARKET, BY LEAD-ACID BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 7: LATIN AMERICA BATTERY MARKET, BY LITHIUM-ION BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 8: LATIN AMERICA BATTERY MARKET, BY NICKEL-METAL HYDRIDE (NIMH) BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 9: LATIN AMERICA BATTERY MARKET, BY NICKEL-CADMIUM (NICD) BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 10: LATIN AMERICA BATTERY MARKET, BY NICKEL-ZINC (NIZN) BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 11: LATIN AMERICA BATTERY MARKET, BY FLOW BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 12: LATIN AMERICA BATTERY MARKET, BY SODIUM-SULFUR (NAS) BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 13: LATIN AMERICA BATTERY MARKET, BY ZINC-MANGANESE DIOXIDE BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 14: LATIN AMERICA BATTERY MARKET, BY SMALL SEALED LEAD-ACID BATTERY, 2022-2028 (IN $ MILLION)

FIGURE 15: LATIN AMERICA BATTERY MARKET, BY OTHER TECHNOLOGIES, 2022-2028 (IN $ MILLION)

FIGURE 16: LATIN AMERICA BATTERY MARKET, BY END-USE, 2021 & 2028 (IN %)

FIGURE 17: LATIN AMERICA BATTERY MARKET, BY AUTOMOTIVE BATTERIES, 2022-2028 (IN $ MILLION)

FIGURE 18: LATIN AMERICA BATTERY MARKET, BY INDUSTRIAL BATTERIES, 2022-2028 (IN $ MILLION)

FIGURE 19: LATIN AMERICA BATTERY MARKET, BY PORTABLE BATTERIES, 2022-2028 (IN $ MILLION)

FIGURE 20: LATIN AMERICA BATTERY MARKET, BY POWER TOOLS BATTERIES, 2022-2028 (IN $ MILLION)

FIGURE 21: LATIN AMERICA BATTERY MARKET, BY SLI BATTERIES, 2022-2028 (IN $ MILLION)

FIGURE 22: LATIN AMERICA BATTERY MARKET, BY OTHER END-USES, 2022-2028 (IN $ MILLION)

FIGURE 23: LATIN AMERICA BATTERY MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)

FIGURE 24: BRAZIL BATTERY MARKET 2022-2028 (IN $ MILLION)

FIGURE 25: MEXICO BATTERY MARKET 2022-2028 (IN $ MILLION)

FIGURE 26: REST OF LATIN AMERICA BATTERY MARKET 2022-2028 (IN $ MILLION)

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