Market Size of South America Consumer Battery Industry
| 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 |
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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.
