South & Central America Batteries for Solar Energy Storage Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Battery Type (Lead acid, Lithium-Ion, Nickel Cadmium, and Others), Application (Residential, Commercial, and Industrial), and Connectivity (Off-Grid and On-Grid)
The batteries for solar energy storage market in South & Central America is expected to grow from US$ 176.11 million in 2022 to US$ 458.12 million by 2028; it is estimated to grow at a CAGR of 18.4% from 2022 to 2028.
The expansion of grid infrastructure projects is leading to a rise in demand for grid energy storage systems, further driving the batteries for solar energy storage market. For instance, In July 2022, Chile’s grid coordinator CEN awarded 26 grid expansion projects with an investment worth US$ 162 million. Thus, such upcoming investment in grid expansion projects is propelling the demand for grid energy storage systems. The growing investment in the grid-scale battery storage system is fueling the market’s growth. For instance, in July 2022, Solar Energy Corp. and NTPC successfully executed the tenders for standalone energy storage systems. This initiative would accelerate investment, support domestic manufacturing, and facilitate the development of new business models. These factors mentioned above are propelling the market growth.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South & Central America batteries for solar energy storage market at a substantial CAGR during the forecast period.
South & Central America Batteries for solar energy storage market Revenue and Forecast to 2028 (US$ Million)
South & Central America Batteries for solar energy storage market Segmentation
The South & Central America batteries for solar energy storage market is segmented on the basis of battery type, application, connectivity, and country. Based on battery type, the market is segmented into lead acid, lithium-ion, nickel cadmium, and others. In 2022, the lithium-ion segment held a larger share of the market. And others segment is expected to register a higher CAGR during the forecast period. Based on application, the South & Central America batteries for solar energy storage market is segmented into residential, commercial, and industrial. The industrial segment held the largest market share in 2022 and commercial is expected to register the highest CAGR in the market during the forecast period. Based on connectivity, the South & Central America batteries for solar energy storage market is segmented into on-grid and off-grid. The on-grid segment held the largest market share in 2022 and the off-grid segment is expected to register the highest CAGR in the market during the forecast period. Based on country, the South & Central America batteries for solar energy storage market is segmented into Brazil, Argentina, and Rest of SAM. In 2022, Brazil held a larger market share. On the other side, and Rest of SAM is expected to register a higher CAGR during the forecast period.
EnerSys; LECLANCHE; LG Electronics; Samsung SDI Co., Ltd.; and Kokam are among the leading companies in the South & Central America batteries for solar energy storage market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Batteries for Solar Energy Storage Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. South & Central America Batteries for Solar Energy Storage Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Expansion of Grid Infrastructure Projects
5.2 Market Restraints
5.2.1 High Initial Investment in Battery Manufacturing
5.3 Market Opportunities
5.3.1 Dropping in Prices of Lithium-Ion Batteries
5.4 Future Trends
5.4.1 Elevating Awareness About Renewable Energy and Supportive Government Incentives and Regulatory Policies
5.5 Impact Analysis of Drivers and Restraints
6. South & Central America Batteries for Solar Energy Storage – Market Analysis
6.1 South & Central America Batteries for Solar Energy Storage Market Overview
6.2 South & Central America Batteries for Solar Energy Storage Market Revenue Forecast and Analysis
7. South & Central America Batteries for Solar Energy Storage Market Analysis – by Battery Type
7.1 Overview
7.2 South & Central America Batteries for Solar Energy Storage Market Breakdown, by Battery Type
7.3 Lead Acid
7.3.1 Overview
7.3.2 Lead Acid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
7.4 Lithium-Ion
7.4.1 Overview
7.4.2 Lithium-Ion: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
7.5 Nickel Cadmium
7.5.1 Overview
7.5.2 Nickel Cadmium: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
8. South & Central America Battery for Solar Energy Storage Market Analysis – by Application
8.1 Overview
8.2 South & Central America Batteries for Solar Energy Storage Market Breakdown, by Application
8.3 Residential
8.3.1 Overview
8.3.2 Residential: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
8.4 Commercial
8.4.1 Overview
8.4.2 Commercial: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
8.5 Industrial
8.5.1 Overview
8.5.2 Industrial: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
9. South & Central America Battery for Solar Energy Storage Market Analysis – by Connectivity
9.1 Overview
9.2 South & Central America Batteries for Solar Energy Storage Market Breakdown, by Connectivity
9.3 Off-Grid
9.3.1 Overview
9.3.2 Off-Grid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
9.4 On-Grid
9.4.1 Overview
9.4.2 On-Grid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
10. South & Central America Batteries for Solar Energy Storage Market – Country Analysis
10.1 Overview
10.1.1 South & Central America Batteries for Solar Energy Storage Market Breakdown, by Country
10.1.1.1 Brazil Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028
10.1.1.1.1 Brazil Batteries for Solar Energy Storage Market Breakdown, by Battery Type
10.1.1.1.2 Brazil Batteries for Solar Energy Storage Market Breakdown, by Application
10.1.1.1.3 Brazil Batteries for Solar Energy Storage Market Breakdown, by Connectivity
10.1.1.2 Argentina Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028
10.1.1.2.1 Argentina Batteries for Solar Energy Storage Market Breakdown, by Battery Type
10.1.1.2.2 Argentina Batteries for Solar Energy Storage Market Breakdown, by Application
10.1.1.2.3 Argentina Batteries for Solar Energy Storage Market Breakdown, by Connectivity
10.1.1.3 Rest of SAM Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028
10.1.1.3.1 Rest of SAM Batteries for Solar Energy Storage Market Breakdown, by Battery Type
10.1.1.3.2 Rest of SAM Batteries for Solar Energy Storage Market Breakdown, by Application
10.1.1.3.3 Rest of SAM Batteries for Solar Energy Storage Market Breakdown, by Connectivity
11. Industry Landscape
11.1 Market Initiative
11.2 New Development
12. Company Profiles
12.1 EnerSys
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 LECLANCHE
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 LG Electronics
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Samsung SDI Co., Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Kokam
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. South & Central America Batteries for Solar Energy Storage Market Revenue Forecast and Forecast to 2028 (US$ Million)
Table 2. South & Central America Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – By Country (US$ million)
Table 3. Brazil Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Battery Type (US$ million)
Table 4. Brazil Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Application (US$ million)
Table 5. Brazil Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Connectivity (US$ million)
Table 6. Argentina Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Battery Type (US$ million)
Table 7. Argentina Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Application (US$ million)
Table 8. Argentina Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Connectivity (US$ million)
Table 9. Rest of SAM Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Battery Type (US$ million)
Table 10. Rest of SAM Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Application (US$ million)
Table 11. Rest of SAM Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Connectivity (US$ million)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. South & Central America Batteries for Solar Energy Storage Market Segmentation
Figure 2. South & Central America Batteries for Solar Energy Storage Market Segmentation – By Country
Figure 3. South & Central America Batteries for Solar Energy Storage Market Overview
Figure 4. South & Central America Batteries for Solar Energy Storage Market, by Battery type
Figure 5. South & Central America Batteries for Solar Energy Storage Market, by Country
Figure 6. South & Central America: PEST Analysis
Figure 7. South & Central America Batteries for Solar Energy Storage Market- Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. South & Central America Batteries for Solar Energy Storage Market: Impact Analysis of Drivers and Restraints
Figure 10. South & Central America Batteries for Solar Energy Storage Market Revenue Forecast and Analysis (US$ Million)
Figure 11. South & Central America Batteries for Solar Energy Storage Market Breakdown, by Battery Type, 2021 & 2028 (%)
Figure 12. Lead Acid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Lithium-Ion: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Nickel Cadmium: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Others: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. South & Central America Batteries for Solar Energy Storage Market Breakdown, by Application, 2021 & 2028 (%)
Figure 17. Residential: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Commercial: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Industrial: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. South & Central America Batteries for Solar Energy Storage Market Breakdown, by Connectivity, 2021 & 2028 (%)
Figure 21. Off-Grid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. On-Grid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Geographic Overview of Batteries for South & Central America Solar Energy Storage Market
Figure 24. South & Central America Batteries for Solar Energy Storage Market Breakdown, by Country, 2021 & 2028 (%)
Figure 25. Brazil Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)
Figure 26. Argentina Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)
Figure 27. Rest of SAM Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)
- EnerSys
- LECLANCHE
- LG Electronics
- Samsung SDI Co., Ltd.
- Kokam
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South & Central America batteries for solar energy storage market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the South & Central America batteries for solar energy storage market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the batteries for solar energy storage market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution