Projected market value of industrial batteries in LATAM 2021-2031, by main country

Published by Statista Research Department, Jul 18, 2024

The industrial market for batteries in Latin America was forecast to grow at a compound annual rate of over seven percent between 2024 and 2031. Brazil dominated the LATAM market in 2023 and ranked fourth in the global market of batteries for industrial applications.

More information on the global industrial battery market can be found here.

Market value of batteries for industrial applications in Latin America from 2021 to 2023, with a forecast until 2031, by leading country (in million U.S. dollars)

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Release date

February 2024

Region

Central and South America

Survey time period

2021 to 2023

Supplementary notes

*Figures underlie the following CAGR assumption for 2024 to 2031:

Brazil - 7.31 percent
Argentina - 7.87 percent
Rest of Latin America - 7.76 percent

Figures do not include Mexico.

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