Middle East And Africa Battery Market Size
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.06 Billion |
| Market Size (2029) | USD 9.98 Billion |
| CAGR (2024 - 2029) | > 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East And Africa Battery Market Analysis
The Middle East And Africa Battery Market size is estimated at USD 7.06 billion in 2024, and is expected to reach USD 9.98 billion by 2029, growing at a CAGR of greater than 7% during the forecast period (2024-2029).
- The major factors driving the Middle-East and Africa battery market include declining lithium-ion battery prices, increasing adoption of electric vehicles, and growing renewable sector. Also, increasing demand from data centers is likely to drive the market as data centers are evolving digital infrastructures for cloud services, and the next generation of cloud services may be adapted to incorporate a blockchain network.
- However, the demand-supply mismatch of raw materials is likely to hinder the market growth.
- The use of energy storage with solar PV has been gaining popularity in developing countries, which is likely to create a huge opportunity for the battery market.
- The United Arab Emirates is expected to dominate the market, owing to its purchase of consumer electronics, including smartphones and automobiles, by the young and diverse population of the country.
Middle East And Africa Battery Market Trends
Automotive Batteries Segment to Witness Significant Growth
- The automotive sector is expected to be one of the major end-user segments for batteries, primarily lithium-ion batteries, as soon as they are used in EVs. The penetration of electric vehicles is anticipated to provide a massive impetus for the lithium-ion battery industry's growth.
- A range of different vehicle types are available globally, featuring increasing degrees of hybridization and electrification. There are various types of vehicles, including hybrid electric vehicles, plug-in hybrid electric vehicles, and electric vehicles.
- The demand has been growing at a negligible rate in the less developed nations of the Middle-East and Africa. In the Middle Eastern region, most of the countries are dependent on crude oil production. However, aligning with the emission norms, the demand for EVs is expected to increase over the forecast period, in turn leading to an increase in the consumption of batteries.
- South Africa is one of the major automotive markets in Africa, where Nissan Leaf launched the electric car in 2014. In 2015, BMW entered the market and launched the i3 and i8 models.
- In June 2023, BMW announced that it would inject USD 218 Million into its factory at Plant Rosslyn in Pretoria, South Africa, which was BMW's first foreign plant outside of Germany, making it the second in the world to produce and export its X3 plug-in hybrid model.
- In July 2023, Pravaig, a Bengaluru-based electric vehicle manufacturer, inked a pact with Saudi India Venture Studio to set up a manufacturing facility in Saudi Arabia. Upon commencement, it will cater to the demand in the Gulf, European, and US markets with a total capacity of up to one million units.
- Therefore, falling battery prices and improving technology are expected to bring price-competitive electric vehicles to the market, creating demand for battery technologies.
The United Arab Emirates to Witness Significant Demand
- The United Arab Emirates is likely to witness significant demand over the forecast period due to the increasing adoption of consumer electronic goods and increasing automotive sales, which in turn is expected to boost the overall battery demand, i.e., both primary and secondary, in the United Arab Emirates.
- Furthermore, the construction and building industry remains one of the fastest-growing sectors, owing to the increasing population. Infrastructure development projects (such as Abu Dhabi Metro and Etihad Rail Network), booming industrialization, and construction activities are expected to be on the higher side in the country, which, in turn, is expected to supplement the demand for batteries for activities, such as backup, lighting, and power tools.
- In July 2023, the UAE government announced plans to more than double the number of EV charging stations by the end of 2023.
- The United Arab Emirates government is planning the car fleet to be 50% electric vehicles by 2050 and 25% plug-in hybrids (PHEV). Meanwhile, buses are to be 70% electric, 15% plug-in hybrid, and the remainder to ICE, CNG, and H2; the target for trucks in the UAE is 10% PHEV and 40% hybrid.
- Major EV manufacturers are launching new EV models in the United Arab Emirates. Some of these are BMW i8, Mercedes GLC350e, Renault Zoe, and Chevrolet Bolt. Tesla has been driving the EV market in the United Arab Emirates, with the American brand being responsible for roughly half of the PEV fleet. These factors are expected to drive the demand for EV batteries in the United Arab Emirates over the forecast period.
- Exide Al Dobowi Ltd and Energizer Middle East & Africa Ltd are some of the top players in the UAE battery market. Therefore, from the above factors, it is evident that the United Arab Emirates is anticipated to dominate the battery market in the Middle-East and African region.
Middle East And Africa Battery Industry Overview
The Middle-East and Africa battery market is fragmented. Some of the key players include (in no particular order) C&D Technologies Inc., East Penn Manufacturing Co. Inc., Exide Industries Ltd, First National Battery Pty Ltd, and Middle East Battery Company (MEBCO).
Middle East And Africa Battery Market Leaders
C&D Technologies Inc.
East Penn Manufacturing Co. Inc.
Exide Industries Ltd
First National Battery Pty Ltd
Middle East Battery Company (MEBCO)
*Disclaimer: Major Players sorted in no particular order
Middle East And Africa Battery Market News
- Aug 2023: Mahindra & Mahindra, India's fourth largest car manufacturer, unveiled the electric version of the Thar SUV at an event in South Africa. Apart from the Thar.e, Mahindra also unveiled seven new tractor models at the event in Cape Town, South Africa.
- Jun 2023: Saudi Arabia's Ministry of Investment signed a USD 5.6 billion deal with Chinese electric car maker Human Horizons to collaborate on the development, manufacture, and sale of vehicles
MEA Battery Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Declining lithium-ion battery prices
4.5.1.2 Increasing adoption of electric vehicles
4.5.2 Restraints
4.5.2.1 Demand-supply mismatch of raw materials
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Primary Battery
5.1.2 Secondary Battery
5.2 Technology
5.2.1 Lead-acid Battery
5.2.2 Lithium-ion Battery
5.2.3 Nickel-metal Hydride (NiMH) Battery
5.2.4 Other Technologies (Nickel-cadmium (NiCD) Battery, Nickel–zinc (NiZn) Battery, etc.)
5.3 Application
5.3.1 Automotive Batteries
5.3.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
5.3.3 Portable Batteries (Consumer Electronics, etc.)
5.3.4 Other Applications
5.4 Geography
5.4.1 Saudi Arabia
5.4.2 United Arab Emirates
5.4.3 South Africa
5.4.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Panasonic Corporation
6.3.2 SAFT GROUPE SA
6.3.3 Middle East Battery Company (MEBCO)
6.3.4 Amara Raja Batteries Ltd
6.3.5 First National Battery Pty Ltd
6.3.6 EnerSys
6.3.7 C&D Technologies Inc.
6.3.8 East Penn Manufacturing Co. Inc.
6.3.9 Exide Industries Ltd
- *List Not Exhaustive
6.4 Market Share
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Use of energy storage with solar PV
Middle East And Africa Battery Industry Segmentation
A battery stores energy and discharges it by converting chemical energy into electricity. Typical batteries most often produce electricity by chemical means through the use of one or more electrochemical cells.
The Middle-East and Africa Battery Market is Segmented by Type (Primary Battery and Secondary Battery), Technology (Lead-acid Battery, Lithium-ion Battery, Nickel-metal Hydride (NiMH) Battery, and Other Technologies (Nickel-cadmium (NiCD) Battery, Nickel-Zinc (NiZn) Battery, etc.)), Application (Automotive Batteries, Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.), Portable Batteries (Consumer Electronics, etc.), and Other Applications), and Geography (Saudi Arabia, United Arab Emirates, South Africa, and Rest of Middle-East and Africa).
| Type | |
| Primary Battery | |
| Secondary Battery |
| Technology | |
| Lead-acid Battery | |
| Lithium-ion Battery | |
| Nickel-metal Hydride (NiMH) Battery | |
| Other Technologies (Nickel-cadmium (NiCD) Battery, Nickel–zinc (NiZn) Battery, etc.) |
| Application | |
| Automotive Batteries | |
| Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.) | |
| Portable Batteries (Consumer Electronics, etc.) | |
| Other Applications |
| Geography | |
| Saudi Arabia | |
| United Arab Emirates | |
| South Africa | |
| Rest of Middle-East and Africa |
MEA Battery Market Research FAQs
How big is the Middle East And Africa Battery Market?
The Middle East And Africa Battery Market size is expected to reach USD 7.06 billion in 2024 and grow at a CAGR of greater than 7% to reach USD 9.98 billion by 2029.
What is the current Middle East And Africa Battery Market size?
In 2024, the Middle East And Africa Battery Market size is expected to reach USD 7.06 billion.
Who are the key players in Middle East And Africa Battery Market?
C&D Technologies Inc., East Penn Manufacturing Co. Inc., Exide Industries Ltd, First National Battery Pty Ltd and Middle East Battery Company (MEBCO) are the major companies operating in the Middle East And Africa Battery Market.
What years does this Middle East And Africa Battery Market cover, and what was the market size in 2023?
In 2023, the Middle East And Africa Battery Market size was estimated at USD 6.57 billion. The report covers the Middle East And Africa Battery Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Middle East And Africa Battery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle-East and Africa Battery Industry Report
Statistics for the 2024 Middle-East and Africa Battery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Middle-East and Africa Battery analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
