Latin America Lithium-ion Battery Market Size & Outlook
Latin America lithium-ion battery market, 2018-2030 (US$M)
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Latin America lithium-ion battery market highlights
- The Latin America lithium-ion battery market generated a revenue of USD 7.6 million in 2023.
- The market is expected to grow at a CAGR of 24.9% from 2024 to 2030.
- In terms of segment, lithium cobalt oxide (lco) was the largest revenue generating product in 2023.
- Lithium Titanate (LTO) is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Colombia is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 7.6 million |
| Market revenue in 2030 | USD 35.8 million |
| Growth rate | 24.9% (CAGR from 2023 to 2030) |
| Largest segment | Lithium cobalt oxide (lco) |
| Fastest growing segment | Lithium Titanate (LTO) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LiFePO4), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate (LTO), Lithium Nickel Manganese Cobalt (NMC) |
| Key market players worldwide | BYD Co Ltd ADR, Hitachi Ltd, Johnson Controls International PLC, LG Chem, Panasonic Holdings Corp, Samsung SDI Co Ltd GDR - 144A, Toshiba Tec Corp ADR, GS Yuasa Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 1.6% of the global lithium-ion battery market in 2023.
- 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 702.7 million by 2030.
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Lithium-ion Battery Market Scope
Lithium-ion Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America lithium-ion 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 lithium-ion battery market will help companies and investors design strategic landscapes.
Lithium cobalt oxide (lco) was the largest segment with a revenue share of 50% in 2023. Horizon Databook has segmented the Latin America lithium-ion battery market based on lithium cobalt oxide (lco), lithium iron phosphate (lifepo4), lithium nickel cobalt aluminum oxide (nca), lithium manganese oxide (lmo), lithium titanate (lto), lithium nickel manganese cobalt (nmc) covering the revenue growth of each sub-segment from 2018 to 2030.
Lithium-ion batteries are generally utilized battery types for Electrical Energy Storage due to applications including battery systems, stand-alone systems with PV, and emergency power supply systems for mitigation of output fluctuations from solar and wind power.
Furthermore, lithium-ion batteries are lower in cost when compared with other alternatives and are expected to witness industry growth over the upcoming years.
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Our clientele includes a mix of lithium-ion battery market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America lithium-ion battery market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America lithium-ion battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America lithium-ion battery market size, by country, 2018-2030 (US$M)
Latin America Lithium-ion Battery Market Outlook Share, 2023 & 2030 (US$M)
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