Latin America Energy Storage Systems Market Size & Outlook
Latin America energy storage systems market, 2018-2030 (US$M)
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Latin America energy storage systems market highlights
- The Latin America energy storage systems market generated a revenue of USD 1,693.2 million in 2022.
- The market is expected to grow at a CAGR of 9.4% from 2023 to 2030.
- In terms of segment, pumped hydro was the largest revenue generating technology in 2022.
- Advanced is the most lucrative technology segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2022 | USD 1,693.2 million |
| Market revenue in 2030 | USD 3,486.5 million |
| Growth rate | 9.4% (CAGR from 2022 to 2030) |
| Largest segment | Pumped hydro |
| Fastest growing segment | Advanced |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pumped Hydro, Advanced |
| Key market players worldwide | Altair Engineering Inc Class A, Ecolab Inc, Electrovaya Inc, GE Aerospace, Longfor Group Holdings Ltd, LG Chem, Safety Insurance Group Inc, Showa Paxxs Corp, Furukawa Battery Co Ltd, Fluence Energy Inc, Samsung SDI Co Ltd GDR - 144A |
Other key industry trends
- In terms of revenue, Latin America region accounted for 0.8% of the global energy storage systems market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 84,397.0 million by 2030.
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Energy Storage Systems Market Scope
Energy Storage Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America energy storage systems 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 energy storage systems market will help companies and investors design strategic landscapes.
Pumped hydro was the largest segment with a revenue share of 97.14% in 2022. Horizon Databook has segmented the Latin America energy storage systems market based on pumped hydro, advanced covering the revenue growth of each sub-segment from 2018 to 2030.
Central and South America region is characterized by heavy foreign investments in leading economies such as Brazil, Chile, and Argentina. These foreign investments have led to the establishment of financial sectors with strong roots.
These financial institutions support the development of energy storage projects and renewable energy projects in the region. Countries in this region is investing significantly in concentrated solar power projects owing to which the market for thermal energy storage is expected to grow in coming years, as thermal storage is used in CSP plant to storage the solar heat for later use.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America energy storage systems market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America energy storage systems market
Latin America Energy Storage Systems Market Outlook Share, 2022 & 2030 (US$M)
Latin America energy storage systems market
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