Market Size of Middle-East and Africa Battery Energy Storage System Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
MEA Battery Energy Storage System Market Analysis
The Middle East and Africa Battery Energy Storage System Market is expected to grow at a CAGR of over 5.2% during the forecast period.
COVID-19 moderately impacted the market in 2020. Currently. The market has reached pre-pandemic levels.
- In the Middle East and African region, the demand for batteries has increased in the Middle East as a preferred energy storage solution primarily due to technological innovation and the reduction of battery costs. Major factors driving the market are the increasing levels of renewable energy penetration, demand for reliable and uninterrupted power supply, and aging grid infrastructure.
- However, the high initial investment required for the installation of the battery energy storage system is expected to hinder the growth of the market studied.
- Digital technologies, such as the Internet of Things (IoT) and machine learning, have engendered the creation of innovative software platforms that advance the technical capabilities and economic viability, and bankability of battery storage, which in turn, is likely to provide an opportunity in the market.
- The United Arab Emirates is to witness significant growth in the Middle East and Africa battery energy storage system market across the region during the forecast period.
