Market Size of Pakistan Battery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.50 % |
| 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?
Pakistan Battery Market Analysis
The Pakistan battery market is estimated to be at USD 21.2 million by the end of this year and is projected to reach USD 25.17 million in the next five years, registering a CAGR of over 3.5% during the forecast period.
- Over the medium period, factors such as the growing automotive sector in the country and the low cost of lead and lithium are likely to drive the Pakistan battery market during the forecast period. Moreover, there has been a sharp increase in the sales of automobiles, particularly of the two- and four-wheeler varieties, which also include electric vehicles. This surged the demand for SLI batteries and lithium-ion batteries, which is expected to propel the Pakistan battery market.
- On the other hand, an economic slowdown and increasing government debt will likely restrain the Pakistan battery market during the forecast period.
- Nevertheless, increasing the FDI due to the OBOR (One Belt, One Road) project, which includes various infrastructure projects, is likely to create a massive opportunity for the battery companies to fully fill the requirement of energy storage demand. Moreover, transportation and the number of heavy vehicles are expected to increase due to infrastructure development, which is likely to boost the battery market during the forecast period.
