Research Nester has released a report titled “Latin America (LATAM) Sodium-Nickel Chloride Battery Market: Demand Analysis & Opportunity Outlook 2028″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
The Latin America (LATAM) sodium-nickel chloride battery market is anticipated to grow with a CAGR of 42.9% throughout the forecast period, i.e., 2021-2028. The region has observed a rapid surge in the adoption of energy storage systems over the past few years, backed by the transitional shift towards renewable energy sources. Countries such as Chile, Brazil, and Mexico have observed a significant surge in the adoption of electric vehicles. Moreover, the region has also observed a growth in the capacity of solar energy, which is further estimated to reach close to 300MW and grow by a factor of 40 by 2050. The market, which was valued at USD 0.811 Million in 2019, is estimated to touch USD 112.69 Million by 2028.
The Latin America (LATAM) sodium-nickel chloride battery market is segmented by application into transportation and stationary applications, out of which, the stationary applications segment is projected to hold a value of USD 9.528 Million by the end of 2028. Moreover, the market is also segmented on the basis of power capacity into below 200kW, 20-400kW, and above 400kW. Out of these segments, the below 200kW segment is anticipated to hold the largest market share by the end of 2028.
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Amongst the countries in LATAM region, the market in Brazil is estimated to reach USD 5.512 Million by 2028 owing to the increasing electric vehicle fleet in the nation as well as the growing awareness for energy storage systems.
However, the concern for the high cost of sodium-nickel chloride batteries as well its low life cycle is projected to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the Latin America (LATAM) sodium-nickel chloride battery market, which includes company profiling of FZSONICK S.A., Chilwee Group Co., Ltd., Lina Energy Ltd, Battery Consult AG, Beta Research Ltd, and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Latin America (LATAM) Sodium-Nickel Chloride Battery Market: Demand Analysis & Opportunity Outlook 2028″, analyses the overall Latin America (LATAM) sodium-nickel chloride battery industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Latin America (LATAM) sodium-nickel chloride battery market in the near future.
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Henry Lucas is an experienced Industry researcher with more than 10 years of experience and he has a great interest and knowledge about the Business industry in research Strategy, Strategic Planning, new innovations and technology.