Mexico Battery Market Size & Outlook, 2023-2030
Mexico battery market, 2018-2030 (US$M)
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Mexico battery market highlights
- The Mexico battery market generated a revenue of USD 3,228.8 million in 2023 and is expected to reach USD 8,597.4 million by 2030.
- The Mexico market is expected to grow at a CAGR of 15% from 2024 to 2030.
- In terms of segment, lithium ion was the largest revenue generating product in 2023.
- Small Sealed Lead-acid Batteries is the most lucrative product segment registering the fastest growth during the forecast period.
Battery market data book summary
| Market revenue in 2023 | USD 3,228.8 million |
| Market revenue in 2030 | USD 8,597.4 million |
| Growth rate | 15% (CAGR from 2023 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Small Sealed Lead-acid Batteries |
| 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, Mexico accounted for 2.7% of the global battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. battery market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 8,597.4 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 38.77% in 2023. Horizon Databook has segmented the Mexico 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.
Mexico is currently the world’s seventh-largest producer of cars. Mexico has been the primary focus of the global automotive industry as companies worldwide are eyeing to invest in the country. Mexico is the fourth-largest exporter in the global automotive industry, only after Germany, Japan, and South Korea.
The growing automobile production in the country is anticipated to drive the demand for lead-acid batteries. In May 2024, The BMW Group took a “local for local” approach to production and supply chain in Mexico and began construction of an 80,000 square meter battery plant next to its assembly plant in San Luis Potosi.
The battery plant will account for USD 540 million of the total plant investment of USD 855 million. In addition, BMW is adding 10,000 sqm to assembly and logistics space at the San Luis Potosi plant, as well as 20,000 sqm to the body shop, bringing the total area to 90,000 sqm.
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Our clientele includes a mix of battery market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico battery market , including forecasts for subscribers. This country databook contains high-level insights into Mexico battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico battery market size, by product, 2018-2030 (US$M)
Mexico Battery Market Outlook Share, 2023 & 2030 (US$M)
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