Apr 30, 2018 SOURCE: BusinessWire

South America Consumer Battery Market Analysis & Forecast 2018-2023 - ResearchAndMarkets.com

The "South America Consumer Battery Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

Due to its better performance and decreasing price, the lithium-ion segment is registering robust growth. The price of lithium-ion batteries is usually higher than that of other batteries. Most of the major leading players in the market have been investing in research and development (R&D) activities, to reduce the prices of lithium-ion batteries. Furthermore, the countries in South America are economically emerging regions witnessing increased urbanization and industrialization activities, resulting in increased GDP growth rate. The increasing GDP growth rate in the region is expected to increase the disposable income, resulting in the increased demand for electronics goods.

In the region, consumer expenditure is expected to increase, and when supported by increase in urbanization and earnings per household, an increase in disposable income is likely. High consumer confidence is reflected by increasing consumer expenditure, which is a positive economic indicator. Moreover, the rise in urbanization is expected to boost the demand for technically advanced devices, due to the benefits provided by the devices. The demand for technically advanced household devices or smart gadgets is expected to increase the demand of consumer batteries.

Over the past five years, Brazil's economic growth was significantly affected by corruption scandals. However, with increased urbanization and a positive GDP growth rate, the domestic disposable income per household is likely to increase. Additionally, the country has witnessed an increase in urbanization. In 2016, around 85.93% of the country's population lived in urban areas, which was 85.69% in the previous year. It is projected that the urbanization activities would witness a significant growth.

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