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South America Battery Cell Market Size (2024 - 2029)

The South America battery cell market is anticipated to experience significant growth, driven by favorable government policies and increased investments in renewable energy, which have boosted the adoption of energy storage systems. The rising demand for electric vehicles, particularly in the automobile batteries segment, is a key factor contributing to the market's expansion. Brazil is expected to lead the market due to its economic growth policies and the proliferation of rooftop solar PV installations. However, concerns regarding the safety of lithium-ion batteries may pose challenges to the market's growth trajectory.

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Market Size of South America Battery Cell Industry

South America Battery Cell Market
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

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*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 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
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South America Battery Cell Market Size Summary

The South America battery cell market is poised for significant growth, driven by the increasing adoption of electric vehicles and the rising demand for energy storage systems. Government policies and investments in renewable energy have bolstered the market, despite challenges such as safety concerns related to lithium-ion batteries. The automobile battery segment is expected to lead the market, with Brazil anticipated to dominate due to its economic growth policies and expanding solar PV installations. Initiatives like Brazil's Rota 2030 program aim to enhance energy efficiency in transportation, further supporting the electric vehicle market and, consequently, the demand for battery cells.

In addition to Brazil, countries like Argentina and Chile are witnessing growing investments and government initiatives to promote electric vehicles, which are expected to drive the battery cell market. The demand for various types of battery cells, including prismatic and cylindrical cells, is increasing due to the rise in battery-operated goods and the expansion of commercial infrastructure, such as data centers. The market is moderately fragmented, with key players like BYD Co. Ltd and Panasonic Corporation actively participating. Collaborative efforts, such as the agreement between YPF Tecnología and YLB, and the supply of niobium battery cells by CBMM, highlight the region's commitment to advancing battery technology and production.

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South America Battery Cell Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Prismatic

      2. 2.1.2 Cylindrical

      3. 2.1.3 Pouch

    2. 2.2 Application

      1. 2.2.1 Automotive Batteries

      2. 2.2.2 Industrial Batteries

      3. 2.2.3 Portable Batteries

      4. 2.2.4 Power Tools Batteries

      5. 2.2.5 SLI Batteries

      6. 2.2.6 Others

    3. 2.3 Geography

      1. 2.3.1 Brazil

      2. 2.3.2 Chile

      3. 2.3.3 Argentina

      4. 2.3.4 Rest of South America

South America Battery Cell Market Size FAQs

The South America Battery Cell Market is projected to register a CAGR of 11.5% during the forecast period (2024-2029)

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.

South America Battery Cell Report Snapshots

South America Battery Cell Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)