MEA Consumer Battery Market Size
|Study Period||2019 - 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Historical Data Period||2018 - 2021|
|CAGR||> 6.50 %|
*Disclaimer: Major Players sorted in no particular order
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MEA Consumer Battery Market Analysis
The Middle-East and Africa consumer battery market is expected to grow at a CAGR of more than 6.5% over the forecast period of 2022-2027. In 2020, due to the outbreak of COVID-19, the major countries in the region such as Saudi Arabia, United Arab Emirates, Morocco, and South Africa witnessed a drop in consumer spending, which negatively affected the batteries market. Further, in 2020, the region witnessed a severe drop in its tourism industry, which directly impacted the demand for consumer batteries from commercial sectors. The Middle-East and Africa consumer battery market is driven by declining lithium-ion battery prices, and increasing sales in portable electronic devices across the region. However, the demand-supply mismatch of raw materials in the region is likely to hinder the market growth during the forecast period.
- The lithium-ion battery (LIB) is expected to witness significant growth in the market during the forecast period due to its high electrode potential, high charge, and favorable capacity-to-weight ratio.
- The healthcare industry is focusing on designing technology that is less intrusive and more portable for home use, which has led to an increase in demand for smaller devices, such as oxygen concentrators, ventilators, etc. This, in turn, is expected to create market opportunities for consumer battery manufacturers.
- The Saudi Arabia is expected to dominate the market, owing to its purchase of consumer electronics, including smartphones and the diverse population of the country.
MEA Consumer Battery Market Trends
This section covers the major market trends shaping the MEA Consumer Battery Market according to our research experts:
Lithium-ion Battery Expected to Witness Significant Growth
- The unique properties have made lithium-ion batteries the power sources for many consumer electronics manufacturers, with a production of the order of billions of units per year. Historically, the lithium market has been driven by battery demand - particularly from consumer electronics.
- The price of LIB is usually high, as compared to other batteries. However, leading players in the market have been investing, in order to gain economies of scale and in R&D activities, to improve LIB's performance and price.
- Lithium-ion batteries find application in a wide range of consumer goods, like smartphones, wearables, laptops, digital cameras, remote controls, and gaming devices.
- Lithium-ion batteries are safer and have higher capacity power packs and are more economical than other alternatives for long-term use.
- Also, Li-ion batteries have a low self-discharge rate when not in use, which ensures a long battery life. Therefore, li-ion batteries are widely preferred for portable consumer electronic devices.
- In addition, most market participants in the region have shifted their focus to rechargeable batteries, such as lithium-ion. As a result, primary lithium batteries and rechargeable batteries are being adopted for various consumer electronics applications in the coming years.
- Further, the growing economies in the region are likely to foster the sales of devices and are expected to drive the market being studied. The increasing number of portable consumer electronic devices that rely on batteries, such as digital cameras, music players, and remote controls, is expected to drive the demand for consumer batteries. Countries such as United Arab Emirates and Saudi Arabia are the major hotspot for consumer batteries in the market studied. The primary factor attributing to this is the high population and consumer spending in the country.
- Therefore, owing to the above points, lithium-ion batteries are expected to witness a significant growth in Middle-East and Africa region during the forecast period.
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Saudi Arabia Expected to Dominate the Market
- Saudi Arabia is one of the strongest and largest economies in the Middle-Eastern region. The country is a huge attraction for travel and tourism because of which it has a huge hospitality sector, which includes lavish hotels and restaurants. These hotels and other recreational places mostly provide their customer with all the luxuries including electrical equipment, such as TVs, air conditioners, music systems, video games, and several other appliances that use consumer batteries in every rooms. Before the pandemic, the country's hospitality sector was on the rise for several years and generated a significant market for the consumer batteries.
- Furthermore, the commercial sector has been growing over the recent past with major upcoming projects, and the scenario is expected to continue over the forecast period. For instance, in 2021, the country is developing Qiddiya City, which is being represented to be a capital of entertainment, sports and the arts in Saudi Arabia. The project is expected to completed by 2023, and includes the construction of several hotels, inns, and has 5000 residency capacities. The formation of the city is expected to increase the demand for batteries.
- The country's residential sector is a significant end-user for consumer battery that are used in watches, video games, flashlights, etc. The country has its plants to expanding its residential area fro which in launched several projects related to developing new area.
- For instance, in 2017, the country launched its NEOM city project. NEOM is likely to provide home and workplace to more than a million residents from around the world. It includes towns and cities, ports and enterprise zones, research centers, sports and entertainment venues, and tourist destinations. The city after its development in 2025, is expected to increase the demand for consumer battery in the new residential areas.
- Therefore, owing to the above points, Saudi Arabia is anticipated to dominate the consumer battery market in the Middle-East and Africa region.
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MEA Consumer Battery Industry Overview
The Middle-East and Africa consumer battery market is moderately fragmented. Some of the key players in this market Panasonic Corporation, VARTA Consumer Batteries GmbH & Co. KGaA, Koninklijke Philips N.V., Energizer Holdings Inc., and Duracell Inc.
MEA Consumer Battery Market Leaders
Koninklijke Philips N.V.
VARTA Consumer Batteries GmbH & Co KGaA
Energizer Holdings, Inc.
*Disclaimer: Major Players sorted in no particular order
MEA Consumer Battery Market News
- In June 2020, Hitches & Glitches launched a battery recycling initiative for its residential customers, that have existing maintenance contracts, to celebrate World Environment Day. The program is aimed to encourage consumers to be more eco-friendly, by giving their used batteries for recycling, and to support their customers, the company's maintenance technicians will collect alkaline batteries, and lithium-ion and nickel-cadmium batteries.
- As of November 2020, the Egyptian government increased investment in an e-waste project to boost its recycling efforts. Ministry of environment and Ministry of Communications and Information Technology have taken steps in the field of waste management. The ministries were working on a project to launch an electronic application to collect e-waste, (covering consumer batteries-based products) in exchange for money through discount vouchers on new products. They have also set up an electronic system to track who throws out garbage and locate the places where the garbage is thrown out. Electronic waste recycling factories in Egypt had also increased to seven, and another five were being licensed, which will increase the recycling of alkaline and zinc carbon battery appliances.
MEA Consumer Battery Market Report - Table of Contents
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
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 Technology Type
5.1.1 Lithium-ion Batteries
5.1.2 Alkaline Batteries
5.1.3 Zinc-Carbon Batteries
5.2.1 Saudi Arabia
5.2.2 The United Arab Emirates
5.2.4 South Africa
5.2.6 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 VARTA Consumer Batteries GmbH & Co. KGaA
6.3.3 Electrocomponents PLC
6.3.4 Anker Innovations Technology Co. Ltd
6.3.5 Energizer Holdings Inc.
6.3.6 Duracell Inc.
6.3.7 GP Batteries International Limited
6.3.8 Camelion Battery Co. Ltd
6.3.9 Koninklijke Philips N.V.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
MEA Consumer Battery Market Research FAQs
What is the current Middle-East and Africa Consumer Battery Market size?
The Middle-East and Africa Consumer Battery Market is projected to register a CAGR of greater than 6.5% during the forecast period (2023-2028).
Who are the key players in Middle-East and Africa Consumer Battery Market?
Panasonic Corporation, Koninklijke Philips N.V., VARTA Consumer Batteries GmbH & Co KGaA, Energizer Holdings, Inc. and Duracell Inc. are the major companies operating in the Middle-East and Africa Consumer Battery Market.
Middle-East and Africa Consumer Battery Industry Report
Statistics for the 2023 Middle-East and Africa Consumer Battery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Middle-East and Africa Consumer Battery analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.