Market Size of Middle-East and Africa Battery Cell Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 13.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Battery Cell Market Analysis
The Middle-East and Africa battery cell market is expected to register a CAGR of more than 13.2% during the forecast period. Covid-19 was first detected in China between late 2019 and early 2020; since then, countries across the globe have been under strict lockdown, drastically impacting the battery cell market. In the Middle East and Africa, the battery market is import based, and due to restrictions on cross-border trades, the industry was negative impacts. Factors such as the significant rise in investment and development of renewable energy projects and supportive government policies and schemes to promote renewable energy coupled with rising EV sales are expected drivers for the Middle East and Africa battery cell market in the forecast period. However, battery cell safety concerns and a rise in battery caching fire incidents are expected to hinder the battery cell market in the near future.
- Rising investment in renewable energy projects and supportive government policies are likely to drive the battery cell market during the forecast period.
- Increased focus on the safety of battery cells coupled with rising investment in R&D of battery cells is expected to present a significant opportunity for battery cell manufacturing companies in the near future.
- South Africa has dominated the battery cell market. The government's supportive policies for the development of renewable energy sources, as well as EVs-related infrastructure development, are expected to drive the market in the country.
