Brazil Battery Market Size & Outlook, 2023-2030
Brazil battery market, 2018-2030 (US$M)
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Brazil battery market highlights
- The Brazil battery market generated a revenue of USD 1,974.8 million in 2023 and is expected to reach USD 6,058.9 million by 2030.
- The Brazil market is expected to grow at a CAGR of 17.4% from 2024 to 2030.
- In terms of segment, lithium ion was the largest revenue generating product in 2023.
- Sodium-ion is the most lucrative product segment registering the fastest growth during the forecast period.
Battery market data book summary
| Market revenue in 2023 | USD 1,974.8 million |
| Market revenue in 2030 | USD 6,058.9 million |
| Growth rate | 17.4% (CAGR from 2023 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Sodium-ion |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead Acid, Lithium Ion, Nickel-based, Sodium-ion, Flow Battery, Small Sealed Lead-acid Batteries |
| Key market players worldwide | BYD Co Ltd ADR, GS Yuasa Corp, Hitachi Ltd, Johnson Controls International PLC, LG Chem, NEC Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Toshiba Corporation |
Other key industry trends
- In terms of revenue, Brazil accounted for 1.7% of the global battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil battery market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 6,058.9 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to battery market will help companies and investors design strategic landscapes.
Lithium ion was the largest segment with a revenue share of 45% in 2023. Horizon Databook has segmented the Brazil battery market based on lead acid, lithium ion, nickel-based, sodium-ion, flow battery, small sealed lead-acid batteries covering the revenue growth of each sub-segment from 2018 to 2030.
In the automotive market, Brazil has witnessed a shift in preference toward ethanol, which is obtained from sugar beet, as an alternative to diesel and gasoline. Currently, the electric vehicle market lags due to a limited number of potential buyers and the lack of charging infrastructure.
However, the government of Brazil is taking initiatives to support this market by exempting annual car ownership tax and import tax on electric vehicles. This is expected to fuel the demand for lithium-ion batteries over the coming years.
In May 2024, Brazil’s auto alliance, which includes companies such as Raizen, car rental company Movida, and Chinese automaker BYD, has doubled its EVs target to 20,000 vehicles by 2025 to expand urban transportation in Brazil.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil battery market , including forecasts for subscribers. This country databook contains high-level insights into Brazil battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil battery market size, by product, 2018-2030 (US$M)
Brazil Battery Market Outlook Share, 2023 & 2030 (US$M)
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