Market Size of East Africa Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.90 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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East Africa Battery Market Analysis
The East African battery market is expected to record a CAGR of more than 4.9% during the forecast period of 2022-2027. The East African battery market was moderately impacted by the COVID-19 outbreak in Q1 2020. The growth of the market declined due to the lockdowns imposed that restricted the supply of batteries and other components as a result of severe disruptions in businesses and the global economy. The COVID-19 pandemic exposed the over-dependency of other countries, especially on China, for imported batteries and key raw materials. Factors such as the increasing adoption of renewable energy by countries in the region and the rapidly growing telecom sector are likely going to drive the East African battery market. However, low domestic and foreign investments are expected to restrain the East African market during the forecast period.
The lithium-ion battery segment, due to the significant reduction in the manufacturing and retail cost, has become more accessible to people for everyday use, such as in mobile phones and other electronic devices, and is likely going to be the fastest-growing segment in East African battery market.
The increasing deployment of renewable energy and growing usage of battery electric vehicles across Uganda and Rwanda are likely to create several opportunities for the East African battery market in the future.
Ethiopia is expected to be the fastest-growing market for the East African battery market during the forecast period because of its increasing solar and wind energy installations and upcoming projects to generate clean energy.
