South America Consumer Battery Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.81 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South America Consumer Battery Market Analysis
The South America consumer battery market is expected to grow at a CAGR of approximately 5.81% during the forecast period of 2020 - 2025. The major factors driving the market studied are improving economic conditions in the region and the declining lithium-ion battery prices. However, the huge tax imposed on telecommunication in South America countries, and no major investment in the telecommunication sector in the region is likely to restrain the market, since telecommunication is the largest end-user consumer for the market.
- Lithium battery dominated the market in 2018 and is expected to be the dominant segment during the forecast period.
- It has been estimated that South America's Lithium Triangle hosts about 54% of the world's lithium resources. As of 2019, Bolivia, Argentina , and Chile have around 21, 17, and 9 million tonnes of lithium reserve respectively. Thus, the huge Lithium reserves present in these countries is likely to act as an opportunity to increase the domestic production in the near future.
- Country like Chile are expected to be the future hoptspot for the lihtium-ion reserves. Thus, the country is expected to provide the significant during the forecast period.
South America Consumer Battery Market Trends
This section covers the major market trends shaping the South America Consumer Battery Market according to our research experts:
Increasing Demand for Lithium-ion Batteries
- Advancements in technology and mass production or economies of scale have led to the significant fall in lithium-ion battery prices. Furthermore, it is forecasted that the lithium-ion batteries prices would keep decreasing, during the forecast period.
- The sale of consumer electronics, which use lithium-ion battery, has been increasing hand-in-hand with the region's economic growth, positively impacting the consumer battery market.
- Due to its high electrode potential, high charge, and power-to-weight ratio, lithium is among the critical components for battery electrolytes and electrodes.
- Additionally, lithium-ion batteries are rechargeable and have a high energy density. The demand for this type of batteries has been driven primarily by proliferation of personal technology products, including smartphones, tablets, and laptops.
- Moreover, countries in South America are emerging as developed countires, owing to economic growth and social development during the past ten years. The GDP growth rate in the region is expected to increase at a moderate pace during the forecast period, and when supported by the expected increase in demand of electronic devices due to increasing population, the consumer battery demand is also expected to go up.
Chile to Provide Significant Market
- Lithium is one of the most abundant resources in South America. South America accounts for roughly 55 - 60 % of the global lithium resources. As of 2018, identified lithium resources in Chile was 8.4 million metric ton.
- On account of this, Chile government is taking efforts to promote and invite countries across the globe to mine these vast resources, to serve the increasing demand for lithium-ion based batteries.
- In 2019, Chile imported 14 times the exported value of primary lithium ion batteries. Hence, overall, the country faces a trade deficit, and the trade balance can be achieved by increasing the domestic production of lithium-ion batteries.
- With huge lithium resources, Chile is becoming a new hotspot for lithium-ion battery manufacturing, as making batteries here may prove more profitable than manufacturing it anywhere else in the world.
- Hence, with a rapid rise in demand for consumer batteries in the country and also across the globe, domestic and foreign companies have a tremendous opportunity for lithium-ion based battery manufacturing in Chile.
South America Consumer Battery Industry Overview
The South America Consumer Battery Market is fragmented. Some of the major companies include Duracell Inc., BYD Co Ltd, Samsung SDI Co. Ltd, LG Chem Ltd, and Panasonic Corporation
South America Consumer Battery Market Leaders
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Duracell Inc.
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BYD Co Ltd
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Samsung SDI Co. Ltd
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LG Chem Ltd
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Panasonic Corporation
*Disclaimer: Major Players sorted in no particular order
South America Consumer Battery Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of Study
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1.2 Market Definition
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1.3 Study Assumptions
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1.4 Study Deliverables
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1.5 Research Phases
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Market Size and Demand Forecast until 2025
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4.3 Recent Trends and Developments
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4.4 Market Dynamics
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4.4.1 Drivers
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4.4.2 Restraints
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4.5 Supply-Chain Analysis
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4.6 Porters Five Force Analysis
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4.6.1 Bargaining Power of Suppliers
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4.6.2 Bargaining Power of Consumers
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4.6.3 Threat of New Entrants
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4.6.4 Threat of Substitute Products and Services
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4.6.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Types
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5.1.1 Lithium-ion Batteries
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5.1.2 Zinc-carbon batteries
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5.1.3 Alkaline Batteries
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5.1.4 Other Types of Batteries
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5.2 By Country
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5.2.1 Brazil
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5.2.2 Argentina
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5.2.3 Bolivia
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5.2.4 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
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6.3.1 Duracell Inc.
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6.3.2 BYD Co Ltd
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6.3.3 Spectrum Brands Holdings Inc.
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6.3.4 LG Chem Ltd
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6.3.5 Panasonic Corporation
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6.3.6 PolyPlus
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6.3.7 Samsung SDI Co. Ltd
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South America Consumer Battery Industry Segmentation
The South America Consumer Battery Market report include:
| By Types | |
| Lithium-ion Batteries | |
| Zinc-carbon batteries | |
| Alkaline Batteries | |
| Other Types of Batteries |
| By Country | |
| Brazil | |
| Argentina | |
| Bolivia | |
| Rest of South America |
South America Consumer Battery Market Research FAQs
What is the current South America Consumer Battery Market size?
The South America Consumer Battery Market is projected to register a CAGR of 5.81% during the forecast period (2024-2029)
Who are the key players in South America Consumer Battery Market?
Duracell Inc., BYD Co Ltd, Samsung SDI Co. Ltd, LG Chem Ltd and Panasonic Corporation are the major companies operating in the South America Consumer Battery Market.
What years does this South America Consumer Battery Market cover?
The report covers the South America Consumer Battery Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the South America Consumer Battery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Consumer Battery Industry Report
Statistics for the 2024 South America Consumer Battery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Consumer Battery analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
South America Consumer Battery Market Report Snapshots
