Market Size of South and Central America Battery Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 4.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South and Central America Battery Market Analysis
The South and Central American battery market is expected to record a CAGR of over 4% during the forecast period.
The COVID-19 outbreak negatively impacted the market in 2020. Presently, the market has reached pre-pandemic levels.
- Over the long term, major factors driving the South and Central American battery market include declining lithium-ion battery prices, increasing adoption of electric vehicles, and the growing renewable energy sector. Increasing demand from data centers is also likely to drive the market as data centers are evolving digital infrastructures for cloud services. The next generation of cloud service may be adopted to incorporate a blockchain network.
- On the other hand, the demand-supply mismatch of raw materials is likely to hinder the market's growth.
- Increasing the growth in data centers and economic development in countries like Brazil and Argentina for commercial infrastructure are expected to create immense opportunities for the South and Central American battery market.
- Brazil is expected to dominate the market in South and Central America due to the rising demand for consumer goods and increasing investments in the country.
