Latin America Sodium Sulfur Battery Market Size & Outlook
Latin America sodium sulfur battery market, 2016-2027 (US$M)
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Latin America sodium sulfur battery market highlights
- The Latin America sodium sulfur battery market generated a revenue of USD 3.9 million in 2019.
- The market is expected to grow at a CAGR of 31.4% from 2020 to 2027.
- In terms of segment, industrial was the largest revenue generating product in 2019.
- Industrial is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2020 to 2027.
Latin America data book summary
| Market revenue in 2019 | USD 3.9 million |
| Market revenue in 2027 | USD 34.9 million |
| Growth rate | 31.4% (CAGR from 2019 to 2027) |
| Largest segment | Industrial |
| Fastest growing segment | Industrial |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Private Portable, Industrial |
| Key market players worldwide | NGK Insulators Ltd, Basf SE, Tokyo Electron Ltd, GE Aerospace, Hitachi Ltd, POSCO Holdings Inc ADR, Yageo Corp ADR, Sieyuan Electric |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.5% of the global sodium sulfur battery market in 2019.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2027.
- Latin America is the fastest growing regional market and is projected to reach USD 34.9 million by 2027.
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Sodium Sulfur Battery Market Scope
Sodium Sulfur Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America sodium sulfur 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 sodium sulfur battery market will help companies and investors design strategic landscapes.
Industrial was the largest segment with a revenue share of 82.05% in 2019. Horizon Databook has segmented the Latin America sodium sulfur battery market based on private portable, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
Central & South America is one of the upcoming regions of the world. This region comprises some of the emerging countries such as Brazil, Argentina, Colombia, and Chile. Like Asia Pacific, this region is also prone to frequent power interruptions, which can prove to be a hindrance to the growth of the economies of countries located in the region. Thus, the demand for UPS systems is on the rise in the region.
NaS batteries are more commonly used as energy storage systems in this region. However, growing importance of renewable energy resources has increased the demand for sodium sulfur energy storage systems, which do not release chemicals and harm the environment, unlike the lead acid and Li-ion batteries.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America sodium sulfur battery market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America sodium sulfur battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Latin America sodium sulfur batteries market size, by country, 2016-2027 (US$M)
Latin America Sodium Sulfur Battery Market Outlook Share, 2019 & 2027 (US$M)
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