LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET 2021-2028

Automotive & Transportation | Electronics & Electric system

LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET 2021-2028

Market by Vehicle Type, Battery Type, End-user, and Country | Forecast 2021-2028

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Triton’s report predicts that the electric vehicle battery market in Latin America is assessed to advance at a compound annual growth rate of 16.80% during the anticipated period 2021-2028.

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The countries scrutinized in this market include:

•        Brazil

•        Mexico

•        Rest of Latin America

In the region, Argentina and Brazil are emerging as the next frontiers in the automotive industry, owing to the growing skilled workforce, infrastructure, and investments. In addition, the Brazilian economy is growing due to rising consumer spending and public policies targeted at increasing social expenditure. Furthermore, low car ownership, growing middle-class income group, and reduced production costs are anticipated to drive the demand for EV batteries, thereby widening the scope of the electric vehicle battery market across the region.

With a relatively clean energy matrix than other nations, Brazil hosts ideal conditions to become one of the largest hydroelectricity producers. Moreover, electric vehicles are significantly reducing the carbon footprint in the country. This has led several companies to invest in the manufacturing of EV batteries. For instance, BYD opened its first lithium-iron-phosphate battery plant in northwest Brazil. Additionally, Toshiba has earlier signed a deal with Sojitz Corp to acquire rare battery metal, extending the range of EVs. Other than this, in 2021, Volkswagen began the production of its first all-electric truck in Brazil. Hence, the rise in electric vehicle production contributes to the growth of the electric vehicle battery market across Brazil.

BYD offers its products across various industries, such as electronics, automobiles, new energy, and rail transit. Its business segments include a rechargeable battery and other products, mobile handset components and assembly service, automobiles, and corporate. In addition, BYD develops LFP batteries and supplies them to its own vehicles and FAW group. It has operations across various regions, including Latin America. 

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Table of Content

1. LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. KEY INSIGHTS

2.1.1. INCREASED INVESTMENTS IN THE ELECTRIC VEHICLE MARKET

2.1.2. NEED FOR SUBSIDIES IN BATTERY RECYCLING

2.2. IMPACT OF COVID-19 ON ELECTRIC VEHICLE BATTERY MARKET

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 SUPPLIERS

2.3.4. BARGAINING POWER OF BUYERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS MATRIX

2.5. INDUSTRY COMPONENTS

2.5.1. RAW MATERIAL MINING

2.5.2. BATTERY CELL

2.5.3. BATTERY MODULE

2.5.4. BATTERY PACK

2.5.5. END-USER

2.5.6. END OF LIFE PROCESSES

2.6. VENDOR SCORECARD

2.7. TECHNOLOGY ANALYSIS

2.7.1. LI-ION BATTERY BASED ON VARIATION IN CATHODE MATERIAL

2.7.1.1. NCM (LITHIUM-COBALT-MANGANESE-OXIDE)

2.7.1.2. NCA (LITHIUM NICKEL COBALT ALUMINUM OXIDE)

2.7.1.3. LFP (LITHIUM IRON PHOSPHATE)

2.7.2. SOLID STATE BATTERIES

2.8. RAW MATERIAL ANALYSIS

2.8.1. KEY RAW MATERIALS

2.8.2. COUNTRIES HAVING HIGH DEPOSITS OF KEY RAW MATERIALS

2.8.2.1. LITHIUM

2.8.2.2. MANGANESE

2.8.2.3. NICKEL

2.8.2.4. COBALT

2.8.2.5. GRAPHITE

2.9. KEY MARKET STRATEGIES

2.9.1. CONTRACTS & PARTNERSHIPS

2.9.2. BUSINESS EXPANSIONS & DIVESTITURES

2.9.3. ACQUISITIONS & MERGERS

2.9.4. NEW PRODUCT LAUNCHES

2.10. INDUSTRY PLAYER POSITIONING

2.11. MARKET DRIVERS

2.11.1. GROWING ELECTRIC VEHICLES MARKET

2.11.2. GOVERNMENTAL INCENTIVES AND PROMOTION

2.11.3. DEVELOPMENTS IN BATTERY TECHNOLOGY

2.11.4. GROWTH IN PUBLIC CHARGING INFRASTRUCTURE

2.12. MARKET CHALLENGES

2.12.1. ISSUES IN RAW MATERIAL PROCUREMENT

2.12.2. HIGH CHARGING TIME FOR BATTERIES

2.12.3. SAFETY CONCERNS

2.13. MARKET OPPORTUNITIES

2.13.1. EMERGENCE OF SHARED E-MOBILITY HELPING BATTERY SWAPPING SEGMENT

2.13.2. IMPROVEMENTS IN VEHICLE-TO-GRID (V2G) TECHNOLOGIES

3. LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET - BY VEHICLE TYPE

3.1. BATTERY ELECTRIC VEHICLE

3.2. HYBRID ELECTRIC VEHICLE

3.3. PLUG-IN HYBRID ELECTRIC VEHICLE

4. LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET - BY BATTERY TYPE

4.1. LEAD ACID

4.2. NICKEL-METAL HYDRIDE

4.3. LITHIUM-ION

5. LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET - BY END-USER

5.1. COMMERCIAL VEHICLE

5.2. PASSENGER CAR

5.3. OTHER END-USERS

6. LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET – REGIONAL OUTLOOK

6.1. BRAZIL

6.2. MEXICO

6.3. REST OF LATIN AMERICA

7. COMPETITIVE LANDSCAPE

7.1. MARKET SHARE ANALYSIS

7.2. COMPANY PROFILES

7.2.1. CATL

7.2.2. LG ENSOL

7.2.3. PANASONIC

7.2.4. SAMSUNG SDI

7.2.5. SK INNOVATION

7.2.6. BYD

7.2.7. CALB

7.2.8. VEHICLE ENERGY JAPAN CO LTD

7.2.9. TOSHIBA CORPORATION

7.2.10. LITHIUM ENERGY JAPAN

7.2.11. ENVISION AESC

7.2.12. A123 SYSTEMS

7.2.13. GS YUASA

7.2.14. NORTHVOLT AB

7.2.15. PRIME PLANET ENERGY SOLUTIONS

8. METHODOLOGY & SCOPE

8.1. RESEARCH SCOPE & DELIVERABLES

8.2. SOURCES OF DATA

8.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2021-2028 (IN $ MILLION)

TABLE 2: MARKET ATTRACTIVENESS MATRIX

TABLE 3: VENDOR SCORECARD

TABLE 4: MAJOR ELECTRIC VEHICLE KEY RAW MATERIALS PRODUCERS

TABLE 5: LIST OF CONTRACTS & PARTNERSHIPS

TABLE 6: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

TABLE 7: LIST OF ACQUISITIONS & MERGERS

TABLE 8: LIST OF NEW PRODUCT LAUNCHES

TABLE 9: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2021-2028 (IN $ MILLION)

TABLE 10: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2021-2028 (IN $ MILLION)

TABLE 11: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, 2021-2028 (IN $ MILLION)

TABLE 12: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY COUNTRY OUTLOOK, 2021-2028 (IN $ MILLION)

List of Figures

FIGURE 1: PORTER’S FIVE FORCES ANALYSIS

FIGURE 2: INDUSTRY COMPONENTS

FIGURE 3: SNAPSHOT OF A TYPICAL NCM BATTERY

FIGURE 4: SNAPSHOT OF A TYPICAL NCA BATTERY

FIGURE 5: SNAPSHOT OF A TYPICAL LFP BATTERY

FIGURE 6: INDUSTRY PLAYER POSITIONING IN 2020 (IN %)

FIGURE 7: ELECTRIC VEHICLE SALES, IN UNITS, 2010-2020

FIGURE 8: LITHIUM-ION BATTERY PRICE PER KWH (2010-2020)

FIGURE 9: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2020 & 2028 (IN %)

FIGURE 10: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY ELECTRIC VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 11: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY HYBRID ELECTRIC VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 12: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY PLUG-IN HYBRID ELECTRIC VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 13: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2020 & 2028 (IN %)

FIGURE 14: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY LEAD ACID, 2021-2028 (IN $ MILLION)

FIGURE 15: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY NICKEL-METAL HYDRIDE, 2021-2028 (IN $ MILLION)

FIGURE 16: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY LITHIUM-ION, 2021-2028 (IN $ MILLION)

FIGURE 17: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, 2020 & 2028 (IN %)

FIGURE 18: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY COMMERCIAL VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 19: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY PASSENGER CAR, 2021-2028 (IN $ MILLION)

FIGURE 20: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, BY OTHER END-USERS, 2021-2028 (IN $ MILLION)

FIGURE 21: LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2020 & 2028 (IN %)

FIGURE 22: BRAZIL ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 23: MEXICO ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 24: REST OF LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 25: MARKET SHARE ANALYSIS, 2020, (IN %)

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