Latin America Battery Market: Forecast Analysis 2024-2032

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $1,500	120 Pages	Triton Market Research	July, 2024	TRTN19011184

Best Price Guarantee
Price	from $1,500
Length	120 Pages
Publisher	Triton Market Research
Published Date	July, 2024
SKU	TRTN19011184

Latin America Battery Market: Forecast Analysis 2024-2032

Based on Triton Market Research’s report, the Latin America battery market is set to witness progress at a CAGR of 12.34% during the forecasting period 2024-2032.

The growth of the automotive industry in the region, extensive lithium reserves, and rising demand for consumer electronics and household appliances are key factors anticipated to drive the expansion of the regional battery market during the forecast period. For instance, in 2023, electric car sales in Latin America nearly hit 90,000, with Mexico, Brazil, Colombia, and Costa Rica at the forefront, as noted by IEA. Additionally, approximately 60% of the world’s known lithium reserves are located in Latin America, primarily within the ‘lithium triangle’ of Bolivia, Argentina, and Chile, as per UNDP. The region’s lithium reserves play a crucial role for the production of lithium-ion batteries, which are essential for electric vehicles and consumer electronics.

The countries examined in this region are Brazil, Mexico, and Rest of Latin America.

Mexico spearheads the regional market, registering around $4596.94 million in 2023

In 2023, Mexico’s total vehicle production reached 4,002,047 vehicles, recording around a 14% increase, as per OICA. Further, IEA’s report stated that electric car registrations rose by 80% over the past year, reaching 15,000 vehicles in 2023.

Mexico’s automotive sector, closely linked to the US through favorable trade agreements like the United States-Mexico-Canada Agreement (USMCA), has attracted increased investment and production, driving up demand for automotive batteries.

The Mexican government’s rising investment in renewable energy, such as solar and wind, is boosting the demand for efficient energy storage solutions. This is driving the need for batteries, including Lithium-ion batteries, to store excess energy during peak production and release it during high-demand or low-production periods.

Market Forecast for Brazil

The battery market in Brazil has experienced significant growth, supported by increased demand in various industries such as automotive, renewable energy, and consumer electronics. This expansion is boosted by government initiatives aimed at fostering a sustainable energy future. Notably, the government has implemented policies that promote the adoption of electric vehicles (EVs) through tax incentives and subsidies, driving the demand for lithium-ion batteries. Additionally, the National Electric Mobility Policy encourages research and development in battery technology and infrastructure.

The market is branched into battery type, end-use, and technology. Based on battery type, it includes secondary and primary batteries.

A secondary battery, also known as a rechargeable or storage battery, is a type of battery that can be recharged to its original state after use by reversing the flow of current. These batteries consist of one or more electrochemical cells and come in various shapes and sizes, from small button cells to large megawatt systems used to stabilize electrical distribution networks.

Contender Analysis in the Battery Market:

Enersys is a provider of stored energy systems and technology for industrial applications. The company manufactures and distributes battery chargers, reserve power and motive power batteries, battery accessories, power equipment, and outdoor equipment enclosure systems. Reserve power batteries serve the utility and telecommunication industries, uninterruptible power supply systems, and various other applications that require stored energy systems. Motive power batteries and chargers are used in electric forklift trucks and other industrial and commercial electric vehicles. These industries include aerospace, defense, and medical systems. It serves clients across multiple regions, including Latin America.

In March 2023, Enersys announced enhancing the energy capabilities of its NexSys TPPL battery technology through the Accelerated Throughput Package. This innovation aims to optimize energy storage and performance, promising significant advancements in battery efficiency and reliability for various industrial applications.

Other major companies offering battery technologies consist of Samsung SDI Co Ltd, C&D Technologies Inc, BYD Company Limited, and A123 Systems LLC.

1. Latin America Battery Market - Summary
2. Industry Outlook: 2.1. Impact Analysis On The Battery Market; 2.1.1. Covid-19 Impact; 2.2. Porter’s Five Forces Analysis; 2.2.1. Threat Of New Entrants; 2.2.2. Threat Of Substitutes; 2.2.3. Bargaining Power Of Buyers; 2.2.4. Bargaining Power Of Suppliers; 2.2.5. Threat Of Competitive Rivalry; 2.3. Market Attractiveness Index; 2.4. Key Buying Impact Analysis; 2.4.1. Energy Density; 2.4.2. Battery Memory; 2.4.3. Lifetime; 2.4.4. Durability; 2.5. Supply Chain Analysis; 2.5.1. Raw Material; 2.5.2. Manufacturing & Assembly; 2.5.3. Distribution; 2.5.4. End-user Applications; 2.5.5. After-sales Services; 2.5.6. Recycling; 2.6. Key Market Strategies; 2.6.1. Collaborations; 2.6.2. Product Launches; 2.6.3. Acquisitions; 2.6.4. Investments & Expansions; 2.7. Market Drivers; 2.7.1. Increasing Popularity Of Consumer Electronics; 2.7.2. Government Incentives To Manufacture Ev Battery; 2.7.3. High Battery Demand For Automotive Applications, Primarily From Evs; 2.8. Market Challenges; 2.8.1. Issues Related To Battery Recycling; 2.8.2. Safety Concerns Associated With Battery Use; 2.8.3. Volatility In Raw Material Prices; 2.9. Market Opportunities; 2.9.1. Increasing Attention To Second-life Battery Uses; 2.9.2. Rising Demand For Larger Battery Packs; 2.9.3. Developments In Battery Technologies; 2.10. Analyst Perspective
3. Latin America Battery Market – By Battery Type: 3.1. Primary Battery; 3.2. Secondary Battery
4. Latin America Battery Market – By Technology: 4.1. Lead-acid; 4.2. Lithium-ion; 4.3. Nickel-cadmium; 4.4. Nickel Metal Hydride; 4.5. Nickel-zinc (Nizn); 4.6. Flow; 4.7. Sodium-sulfur (Nas); 4.8. Zinc-manganese Dioxide; 4.9. Small Sealed Lead-acid; 4.10. Other Technologies
5. Latin America Battery Market – 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 Market – By Country Outlook: 6.1. Brazil; 6.1.1. Brazil Battery Market Forecast & Prospects; 6.2. Mexico; 6.2.1. Mexico Battery Market Forecast & Prospects; 6.3. Rest Of Latin America; 6.3.1. Rest Of Latin America Battery Market Forecast & Prospects
7. Competitive Landscape: 7.1. Gs Yuasa International Ltd; 7.1.1. Overview; 7.1.2. Portfolio; 7.1.3. Key Strength; 7.1.4. Key Challenge; 7.2. Johnson Controls Inc; 7.2.1. Overview; 7.2.2. Portfolio; 7.2.3. Key Strength; 7.2.4. Key Challenge; 7.3. Panasonic Corporation; 7.3.1. Overview; 7.3.2. Portfolio; 7.3.3. Key Strengths; 7.3.4. Key Challenges; 7.4. Samsung Sdi Co Ltd; 7.4.1. Overview; 7.4.2. Portfolio; 7.4.3. Key Strength; 7.4.4. Key Challenge; 7.5. A123 Systems Llc; 7.5.1. Overview; 7.5.2. Portfolio; 7.5.3. Key Strength; 7.5.4. Key Challenges; 7.6. Exide Technologies; 7.6.1. Overview; 7.6.2. Portfolio; 7.6.3. Key Strength; 7.6.4. Key Challenge; 7.7. Enersys; 7.7.1. Overview; 7.7.2. Portfolio; 7.7.3. Key Strength; 7.7.4. Key Challenges; 7.8. Byd Company Limited; 7.8.1. Overview; 7.8.2. Portfolio; 7.8.3. Key Strength; 7.8.4. Key Challenge; 7.9. C&D Technologies Inc; 7.9.1. Overview; 7.9.2. Portfolio; 7.9.3. Key Strengths; 7.9.4. Key Challenge; 7.10. Saft Groupe Sa; 7.10.1. Overview; 7.10.2. Portfolio; 7.10.3. Key Strength; 7.10.4. Key Challenge
8. Research Methodology & Scope: 8.1. Research Scope & Deliverables; 8.2. Sources Of Data; 8.3. Research Methodology
Table List: Table 1: Latin America Battery Market, By Country Outlook, 2024-2032 (In $ Million); Table 2: List Of Collaborations; Table 3: List Of Product Launches; Table 4: List Of Acquisitions; Table 5: List Of Investments & Expansions; Table 6: Latin America Battery Market, By Battery Type, 2024-2032 (In $ Million); Table 7: Latin America Battery Market, By Technology, 2024-2032 (In $ Million); Table 8: Latin America Battery Market, By End-use, 2024-2032 (In $ Million); Table 9: Latin America Battery Market, By Country Outlook, 2024-2032 (In $ Million)
Figure List: Figure 1: Porter’s Five Forces Analysis; Figure 2: Market Attractiveness Index; Figure 3: Key Buying Impact Analysis; Figure 4: Supply Chain Analysis; Figure 5: Latin America Battery Market, By Battery Type, 2023 & 2032 (In %); Figure 6: Latin America Battery Market, By Primary Battery, 2024-2032 (In $ Million); Figure 7: Latin America Battery Market, By Secondary Battery, 2024-2032 (In $ Million); Figure 8: Latin America Battery Market, By Technology, 2023 & 2032 (In %); Figure 9: Latin America Battery Market, By Lead-acid, 2024-2032 (In $ Million); Figure 10: Latin America Battery Market, By Lithium-ion, 2024-2032 (In $ Million); Figure 11: Latin America Battery Market, By Nickel-cadmium, 2024-2032 (In $ Million); Figure 12: Latin America Battery Market, By Nickel Metal Hydride, 2024-2032 (In $ Million); Figure 13: Latin America Battery Market, By Nickel-zinc (Nizn), 2024-2032 (In $ Million); Figure 14: Latin America Battery Market, By Flow, 2024-2032 (In $ Million); Figure 15: Latin America Battery Market, By Sodium-sulfur (Nas), 2024-2032 (In $ Million); Figure 16: Latin America Battery Market, By Zinc-manganese Dioxide, 2024-2032 (In $ Million); Figure 17: Latin America Battery Market, By Small Sealed Lead-acid, 2024-2032 (In $ Million); Figure 18: Latin America Battery Market, By Other Technologies, 2024-2032 (In $ Million); Figure 19: Latin America Battery Market, By End-use, 2023 & 2032 (In %); Figure 20: Latin America Battery Market, By Automotive Batteries, 2024-2032 (In $ Million); Figure 21: Latin America Battery Market, By Industrial Batteries, 2024-2032 (In $ Million); Figure 22: Latin America Battery Market, By Portable Batteries, 2024-2032 (In $ Million); Figure 23: Latin America Battery Market, By Power Tools Batteries, 2024-2032 (In $ Million); Figure 24: Latin America Battery Market, By Sli Batteries, 2024-2032 (In $ Million); Figure 25: Latin America Battery Market, By Other End-uses, 2024-2032 (In $ Million); Figure 26: Latin America Battery Market, By Country Outlook, 2023 & 2032 (In %); Figure 27: Brazil Battery Market 2024-2032 (In $ Million); Figure 28: Mexico Battery Market 2024-2032 (In $ Million); Figure 29: Rest Of Latin America Battery Market 2024-2032 (In $ Million)