Brazil Battery Market Report and Forecast 2024-2032

Brazil Battery Market Outlook

The Brazil battery market size reached nearly USD 205.50 million in 2023. The market is projected to grow at a CAGR of 11% between 2024 and 2032 to reach a value of around USD 527.52 million by 2032.

Key Trends in the Market

Battery refers to an electrochemical device which is used to power various electronic equipment or devices and can be recharged by connecting to a source of electricity. A battery works on the principle of conversion of chemical energy into electrical.

• The increasing sales of electric vehicles across the country are driving the Brazil battery market growth. Over the forecast period, new models of electric cars are likely to enter the Brazilian market, thereby surging the demand for lithium-ion batteries.

• Collaborative efforts by private and public players in the country aimed towards reducing carbon emissions and the depletion of natural resources are leading to a swift transition from traditional power generation methods to stored energy systems. Moreover, the increasing use of batteries to store renewable energy in the utility sector is one of the key Brazil battery market trends.

• Heightening utilisation of industrial batteries for various applications, like offering backup power for telecom base stations and data centres and powering warehouse equipment, among others, is driving the market growth.

Market Analysis

Based on type, the Brazil battery market segmentations include primary and secondary. On the basis of technology, the market is classified into lead-acid battery, and lithium-ion battery, among others. By application, the market is divided into automotive, industrial batteries, and consumer electronics, among others. The major regional markets for battery in Brazil include São Paulo, Minas Gerais, Rio de Janeiro, Bahia, and Rio Grande do Sul, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the Brazil battery market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Clarios

• ENERSYS

• Moura Group

• Inventus Power

• CBMM

• Toshiba Corporation

• Johnson Matthey

• Panasonic Corporation

• Others

Market Share by Technology

Lithium-ion battery accounts for a significant portion of the Brazil battery market share. This can be attributed to the increasing expansion of lithium production capacity across Jequitinhonha Valley and Minas Gerais. Favourable policies of the Brazilian government aimed towards escalating lithium investments in the nation, owing to the increasing demand for downstream lithium-ion battery products, are further fuelling the segment’s growth.

Market Share by Application

According to the Brazil battery market analysis, consumer goods are expected to witness a heightened demand in the coming years. The growing popularity of social media and e-commerce platforms and rising disposable incomes have been scaling up the sales of consumer goods such as headphones, handheld power tools, and several types of electrical appliances, boosting the usage of rechargeable batteries.

Competitive Landscape

Clarios is a company which develops battery technology. The company offers lead-acid and lithium-ion batteries to the end users. It was founded in 1885 and is headquartered in Wisconsin, the United States.

ENERSYS is a leading battery manufacturer which provides stored energy systems and batteries for industrial applications. The company was founded in 2000 and is headquartered in Pennsylvania, the United States.

Moura Group is a company which manufactures electrical equipment and components, along with energy accumulation solutions. Based in Brazil, the company is one of the largest suppliers of vehicle fleets in Latin America.

Other Brazil battery market players include Inventus Power, CBMM, Toshiba Corporation, Johnson Matthey, and Panasonic Corporation, among others.

Key Highlights of the Report