Market Size of South Europe Battery Industry
| Study Period | 2019-2027 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2019 - 2020 |
| CAGR | > 3.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Europe Battery Market Analysis
The South Europe Battery Market is expected to register a CAGR of over 3% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market is likely to reach pre-pandemic levels.
- Over the medium term, the reduction in the cost of lithium-ion batteries and the adaptation of energy storage systems are expected to drive the market's growth.
- On the other hand, the increasing prices of raw materials and minerals used for manufacturing batteries are expected to hamper the South Europe Battery Market growth during the forecast period.
- Nevertheless, new-generation batteries such as lithium-sulfur and solid-state are likely to create lucrative growth opportunities for the South Europe battery market in the forecast period.
- Italy dominates the market and is likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing dependency on renewable energy power generation.
