South America Battery Cell Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 11.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South America Battery Cell Market Analysis
The South America battery cell market is expected to register a CAGR of 11.5% during the forecast period. Covid-19 has been a significant economic and social burden in South America and the rest of the world. Positive government policies have contributed to the growth, as well as an increase in investments in renewable energy; this led to an increase in the adoption of energy storage systems, which led to positively contributing to the demand for battery cells. Increasing EV adoption in the region is owing to the high usage of automobile battery cells, which helps in driving the market growth. However, safety concerns regarding lithium-ion batteries are likely to hamper the market's growth.
- The Automobile batteries segment is expected to dominate the market, owing to the increasing demand for the adoption of electric vehicles is expected to boost the market.
- In South America, Brazil is expected to dominate the market during the forecast period due to the country's various economic growth policies and increasing rooftop solar PV installations.
South America Battery Cell Market Trends
This section covers the major market trends shaping the South America Battery Cell Market according to our research experts:
Automobile Batteries Segment to Dominate the Market
- As part of Brazil's five-year logistics and mobility program known as Inovar-Auto (2012-2017), the government launched Rota 2030 in December 2018. In order to improve energy efficiency in the transportation sector, the Rota 2030 program is a big boost for the Brazilian electric vehicle market. As electric vehicle deployment increases, the automobile battery segment of the market studied is likely to benefit significantly.
- As a result of increased interest in electric vehicles, higher fuel prices, and government initiatives to promote infrastructure related to electric vehicles in Argentina, the demand for electric vehicles is expected to grow in the near future. Additionally, the battery cell market is expected to be influenced by investment in electric vehicle manufacturing in the country. For instance, in February 2022, Chery, a Chinses automobile manufacturer, plans to invest in EV manufacturing, The company aims to produce battery electric vehicles in Argentina and plans to produce 50,000 units annually in the initial stage, The plant is located in Santa Fe province, Argentina.
- Furthermore, increasing government initiatives and growing investments, particularly in Brazil, Chile, and Argentina, is expected to drive the demand for electric vehicles, which, in turn, is expected to drive the aumobile battery cell market in the region during the forecast period.
Brazil to Dominate the Market
- As a result of EVs, energy storage systems, and consumer electronics, especially mobile phones and laptops, prismatic cells have a greater demand in Brazil. Furthermore, cylindrical cells are also used in EVs, and consumer electronics and punch-type cells are primarily used in consumer goods, military, and automobile applications. As a result, the demand for battery cells is expected to increase in the country as more battery-operated goods are sold.
- In Brazil, economic development is leading to a significant expansion of commercial infrastructure. Due to the boom in economic activity, the country is experiencing an increase in data centers, which will create opportunities for lithium-ion batteries. For data centers to operate continuously, electricity supplies are crucial, which leads to batteries being deployed as the most desired feature.
- The energy storage systems in the country are primarily deployed in solar-powered homes (residential ESS) for power backup applications. As the country's population grows, so does its demand for renewable energy, especially rooftop solar PV, which will in turn drive the demand for energy storage systems, which in turn is expected drive the market for prismatic battery cells in the coming years.
- As a result, the Brazilian battery cell market is expected to witness robust growth during the forecast period, in the wake of the increasing sales of electric vehicles and growing renewable energy in genration mix.
South America Battery Cell Industry Overview
South America battery cell market is moderately fragmented. Some of the key players in the market include BYD Co. Ltd, Contemporary Amperex Technology Co. Limited, Duracell Inc., EnerSys, Panasonic Corporation.
South America Battery Cell Market Leaders
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BYD Co. Ltd
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Contemporary Amperex Technology Co. Limited
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Duracell Inc.
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EnerSys
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Panasonic Corporation
*Disclaimer: Major Players sorted in no particular order
South America Battery Cell Market News
- In July 2022, YPF Tecnología (Y-TEC) of Argentina and the National Strategic Public Company for Bolivian Lithium Deposits (YLB) signed a scientific-technological cooperation agreement to manufacture lithium cells and batteries.
- In March 2022, The Brazilian mining company CBMM is expected to supply niobium battery cells to China's Horwin for fast-charging electric motorcycles to be made in the South American country using technology developed with Toshiba. CBMM plans to produce 4,000 battery cells to validate the technology with end users, and then enter the industrial planning stage.
South America Battery Cell Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Prismatic
5.1.2 Cylindrical
5.1.3 Pouch
5.2 Application
5.2.1 Automotive Batteries
5.2.2 Industrial Batteries
5.2.3 Portable Batteries
5.2.4 Power Tools Batteries
5.2.5 SLI Batteries
5.2.6 Others
5.3 Geography
5.3.1 Brazil
5.3.2 Chile
5.3.3 Argentina
5.3.4 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 BYD Co. Ltd
6.3.2 Contemporary Amperex Technology Co. Limited
6.3.3 Duracell Inc.
6.3.4 EnerSys
6.3.5 Panasonic Corporation
6.3.6 ElringKlinger AG
6.3.7 Saft Groupe S.A.
6.3.8 Maxell, Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South America Battery Cell Industry Segmentation
The South American battery cell market report includes:
| Type | |
| Prismatic | |
| Cylindrical | |
| Pouch |
| Application | |
| Automotive Batteries | |
| Industrial Batteries | |
| Portable Batteries | |
| Power Tools Batteries | |
| SLI Batteries | |
| Others |
| Geography | |
| Brazil | |
| Chile | |
| Argentina | |
| Rest of South America |
South America Battery Cell Market Research FAQs
What is the current South America Battery Cell Market size?
The South America Battery Cell Market is projected to register a CAGR of 11.5% during the forecast period (2024-2029)
Who are the key players in South America Battery Cell Market?
BYD Co. Ltd, Contemporary Amperex Technology Co. Limited, Duracell Inc., EnerSys and Panasonic Corporation are the major companies operating in the South America Battery Cell Market.
What years does this South America Battery Cell Market cover?
The report covers the South America Battery Cell Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the South America Battery Cell Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Battery Cell Industry Report
Statistics for the 2024 South America Battery Cell market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Battery Cell analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
South America Battery Cell Report Snapshots
