Market Size of Middle-East Battery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East Battery Market Analysis
During the time frame of the forecast, the Middle East battery market is expected to grow at a CAGR of more than 3%.
The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns, leading to a decrease in demand for batteries. Currently, the market has rebounded from pre-pandemic levels.
- During the forecast period, the Middle-East battery market will be driven by things like falling prices for lithium-ion batteries, more people buying electric cars, and the growth of the renewable energy sector.
- On the other hand, the difference between raw material demand and supply is likely to slow market growth.
- Nevertheless, the rising focus on technologically advanced batteries and the use of artificial intelligence in the R&D phase of battery manufacturing is likely to create a massive opportunity for the battery companies to invest and redirect their resources to make a breakthrough in battery technology.
- The growth of the market is expected to be led by the United Arab Emirates. This is because the country's young and diverse population buys a lot of consumer electronics, like smartphones and cars.
Middle East Battery Industry Segmentation
A battery is an electrochemical device with one or more electrochemical cells that can be charged with an electric current and discharged when needed. Batteries are usually devices that are made up of multiple electrochemical cells that are connected to external inputs and outputs. The Middle East battery market is segmented by type, technology, application, and geography. By type, the market is segmented into primary and secondary batteries. By technology, the market is segmented into lead-acid batteries, lithium-ion batteries, and other technologies. By application, the market is segmented into automotive batteries, industrial batteries, consumer electronics, and other applications. The report also covers the market size and forecasts for the battery market across the major countries in the region. For each segment, market sizing and forecasts have been done based on revenue (USD billion).
| Type | |
| Primary Battery | |
| Secondary Battery |
| Technology | |
| Lead-acid Battery | |
| Lithium-ion Battery | |
| Other Technologies |
| Application | |
| Automotive | |
| Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.) | |
| Consumer Electronics | |
| Other Applications |
| Geography | |
| United Arab Emirates | |
| Saudi Arabia | |
| Rest of the Middle-East |
Middle-East Battery Market Size Summary
The Middle East battery market is poised for growth, driven by several key factors such as the decreasing costs of lithium-ion batteries, the rising adoption of electric vehicles, and the expansion of the renewable energy sector. Despite the initial setback due to the COVID-19 pandemic, which caused a dip in demand, the market has rebounded to pre-pandemic levels. The United Arab Emirates is expected to lead this growth, fueled by its young and diverse population's increasing consumption of consumer electronics and vehicles. However, challenges such as the disparity between raw material demand and supply may temper the market's expansion. Nonetheless, advancements in battery technology and the integration of artificial intelligence in research and development present significant opportunities for companies to innovate and enhance battery performance.
The lead-acid battery segment is anticipated to maintain its dominance in the Middle East, supported by its cost-effectiveness and suitability for various applications, including automotive and industrial uses. These batteries are particularly favored in regions where price is a critical factor, and their ability to deliver high surge currents makes them ideal for starting, lighting, and ignition applications. The demand for lead-acid batteries is bolstered by their extensive use in backup power supplies and automotive systems. Additionally, the UAE's burgeoning construction and infrastructure projects, alongside its developing electric vehicle market, are expected to drive further demand for both primary and secondary batteries. The market's fragmented nature sees major players like Tesla Inc., C&D Technologies Inc., Exide Industries Ltd., and Panasonic Corporation actively participating in the region's growth trajectory.
Middle-East Battery Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Primary Battery
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2.1.2 Secondary Battery
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2.2 Technology
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2.2.1 Lead-acid Battery
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2.2.2 Lithium-ion Battery
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2.2.3 Other Technologies
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2.3 Application
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2.3.1 Automotive
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2.3.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
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2.3.3 Consumer Electronics
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2.3.4 Other Applications
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2.4 Geography
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2.4.1 United Arab Emirates
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2.4.2 Saudi Arabia
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2.4.3 Rest of the Middle-East
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Middle-East Battery Market Size FAQs
What is the current Middle-East Battery Market size?
The Middle-East Battery Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Middle-East Battery Market?
Exide Industries Ltd , Middle East Battery Company (MEBCO) , C&D Technologies Inc., Panasonic Corporation and Tesla, Inc. are the major companies operating in the Middle-East Battery Market.
