Report Overview

Middle East and Africa Lithium-ion Battery Market - Industry Trends & Forecast Report, 2029

Middle East and Africa Lithium-ion Battery market size was estimated to be worth USD 527.5 million in 2022. During the forecast period between 2023 and 2029, the Middle East and Africa Lithium-ion Battery market size is projected to grow at a CAGR of 9.1%, reaching a value of USD 971.75 million by 2029. Major growth factors for the Middle East and Africa Lithium-ion Battery market include rising demand for consumer electronics and domestic production of consumer goods. Furthermore, rising government initiatives to boost the renewable energy sector along with rising environmental concerns may present lucrative growth opportunities to the Middle East and Africa Lithium-ion Battery market.

Middle East and Africa Lithium-ion Battery Market – Overview

A lithium-ion battery is a type of rechargeable battery that works on the principle of lithium ions moving from the negative electrode through an electrolyte to a positive electrode and vice versa. They are extremely popular as a battery material for consumer goods and other applications due to their higher energy density, no memory effect, and low self-discharge. Therefore, lithium-ion batteries are prominently used in portable electronic and electric vehicles and often in military and aerospace applications.

Middle East and Africa Lithium-ion Battery Market

Growth Drivers

Rising Demand for Electric Vehicles

Electric vehicles are gaining huge momentum in the Middle East and Africa region owing to rising government initiatives towards the renewable energy sector and rising consumer consciousness towards sustainability. In addition, the EPA restrictions on lead contamination and the ensuing environmental dangers, together with the laws on lead-acid battery storage, disposal, and recycling, have reduced the market for lead-acid batteries and increased the need for Li-ion batteries in vehicles. Such factors are anticipated to present lucrative growth opportunities to the Middle East and Africa Lithium-ion Battery market.

Restraints

Safety Hazards Associated with Lithium-ion Battery

According to Occupational Safety and Health Administration, lithium batteries can pose a fire and/or explosion risk if they are damaged or unable to function properly. They are susceptible to damage from incorrect handling, charging, or storage. All lithium-ion batteries include components that are combustible and are capable of experiencing "thermal runaway," a series of events that can culminate in a devastating fire or explosion. This may prompt governments to regulate the trade of lithium ion batteries in their respective countries and acts as a major restraining factor for market growth.

Impact of COVID-19 on Middle East and Africa Lithium-ion Battery Market

The COVID-19 pandemic halted the growth of the Middle East and Africa Lithium-ion Battery market. The MEA region is heavily dependent on other countries including China and the United States for the import of lithium ion batteries. However, the imposition of lockdown and cross-border trade restrictions to prevent the virus spread directly impacted the supply chain of the lithium ion batteries market in the Middle East and Africa region. As a result, the Middle East and Africa lithium ion batteries experienced a sharp decline, which restrained overall market growth. The market is anticipated to expand rapidly after the region's easing of COVID-19-related regulations.

Middle East and Africa Lithium-ion Battery Market

Segmental Coverage

Middle East and Africa Lithium-ion Battery Market – By Type

Based on type, the Middle East and Africa Lithium-ion Battery market is divided into lithium cobalt oxide (LCO), lithium manganese oxide (LMO), lithium iron phosphate (LFP), lithium nickel manganese cobalt oxide (LI-NMC), lithium nickel cobalt aluminum oxide (NCA), and lithium titanate oxide (LTO) segments. The market is currently dominated by the lithium cobalt oxide (LCO) category, which is anticipated to grow at a high CAGR during the forecast period as well. Batteries for electric cars often employ lithium-iron phosphate technology. However, the lithium cobalt oxide category is anticipated to grow at a substantial rate because of the high energy density of lithium cobalt oxide batteries.

Middle East and Africa Lithium-ion Battery Market – By Component

Based on component, the Middle East and Africa Lithium-ion Battery market is segmented into cathode, anode, electrolytic, separator, and others. The cathode segment accounts for the highest share in the Middle East and Africa Lithium-ion Battery market, due to its extensive usage of it for manufacturing positive electrodes for battery cells. The Li-ion battery market is anticipated to be driven by cathodes because of their high density and increased power output. However, the market for electrolytic solutions is anticipated to register high growth since a durable electrolyte that can withstand high current voltage and temperatures is necessary for a stable and long-lasting battery.

Middle East and Africa Lithium-ion Battery Market – By Capacity

Based on components, the Middle East and Africa Lithium-ion Battery market is segmented into O–3000 mAh, 3000–10000 mAh, 10000–60000 mAh, and 60000 mAh & above. The 3,000–10,000 mAh category leads the market with the largest revenue share throughout the projected period due to the wide range of industries where high-capacity batteries are used, including consumer electronics, electric cars, power equipment, and aerospace.

Middle East and Africa Lithium-ion Battery Market – By Voltage

Based on voltage, the Middle East and Africa Lithium-ion Battery market is segmented into low (below 12 V), medium (12–36 V), and high (above 36 V). The low (below 12V) voltage segment accounts for the highest share in the market. The nominal voltage of lithium-ion batteries is 3.7 volts per cell. A battery pack may have any voltage in 3.7-volt changes by utilizing the cells in series.

Middle East and Africa Lithium-ion Battery Market – By Product

Based on product, the Middle East and Africa Lithium-ion Battery market is segmented into cell, energy storage system (ESS), module, pack, and others. Cells hold the largest share in the Middle East and Africa Lithium-ion Battery market.

Middle East and Africa Lithium-ion Battery Market – By End User

Based on end user, the Middle East and Africa Lithium-ion Battery market is segmented into consumer electronics, automotive, industrial, power, construction, telecom, aerospace & defense, marine, medical, and others. The consumer electronics segment accounts for the highest market share. The high import of consumer electronics from India and China directly influences the demand for lithium ion batteries as a secondary source. However, the automotive segment is projected to register the highest growth rate during the forecast period owing to the rising adoption of electric vehicles among customers and in public transport infrastructure.

Middle East and Africa Lithium-ion Battery Market – By Country

The Middle East and Africa Lithium-ion Battery market covers a number of markets across the region: Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, and the rest of MEA. The UAE dominates the Middle East and Africa Lithium-ion Battery market, owing to the rising demand for consumer electronic goods including laptops and tablets. Furthermore, rapid infrastructural development such as construction of Abu Dhabi Metro is anticipated to fuel the demand for Lithium-ion Battery as a power backup source, which is anticipated to proliferate the overall market growth.

Competitive Landscape

Major players operating in Middle East and Africa Lithium-ion Battery market include Amperex Technology Limited, BYD Company Ltd, Codi Energy Ltd, Contemporary Amperex Technology Co Limited, Exide Technologies, GlobTek, Inc., GS Yuasa International Ltd, Jiangxi JingJiu Power Science & Technology Co LTD, Leclanche, LG Chem., LITHIUM WERKS, Panasonic Industry Co Ltd, Saft, SAMSUNG SDI CO LTD, Shenzhen Grepow Battery Co Ltd, Shuangdeng Group Co Ltd, SK Inc., TOSHIBA CORPORATION, VARTA Microbattery GmbH, and Xiamen Tmax Battery Equipments Limited.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In March 2023 - APB Corporation, a battery startup based in Japan, announced its partnership with Saudi Aramco, the world’s largest oil firm, to create materials for next-generation lithium-ion batteries.

Scope of the Report

By Type

• Lithium Cobalt Oxide (LCO)

• Lithium Manganese Oxide (LMO)

• Lithium Iron Phosphate (LFP)

• Lithium Nickel Manganese Cobalt Oxide (LI-NMC)

• Lithium Nickel Cobalt Aluminum Oxide (NCA)

• Lithium Titanate Oxide (LTO)

By Component

• Cathode

• Anode

• Electrolytic

• Separator

• Others

By Capacity

• O–3000 mAh

• 3000–10000 mAh

• 10000–60000 mAh

• 60000 mAh & Above

By Voltage

• Low (Below 12V)

• Medium (12V–36V)

• High (Above 36V)

By Product

• Cell

• Energy Storage System (ESS)

• Module

• Pack

• Others

By End User

• Consumer Electronics

• Automotive

• Industrial

• Power

• Construction

• Telecom

• Aerospace & Defense

• Marine

• Medical

• Others

By Country

• Saudi Arabia

• UAE

• Qatar

• Kuwait

• South Africa

• Nigeria

• Algeria

• Rest of MEA

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Middle East and Africa Lithium-ion Battery Market Insights
   1. Industry Value Chain Analysis
      1. DROC Analysis
      2. Growth Drivers
         1. Rising Demand For Smartphones And Consumer Electronics
         2. Technological Advancements in Battery Manufacturing
      3. Restraints
         1. High Initial Investment
         2. Limited Raw Material Availability
      4. Opportunities
         1. Energy Storage Solutions
         2. Increasing Demand For Electric Vehicles
      5. Challenges
         1. Alternative Technologies
         2. Regulatory Challenges
   2. Technological Advancement/Recent Developments
   3. Regulatory Framework
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Middle East and Africa Lithium-ion Battery Market Overview
   1. Market Product & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Lithium Cobalt Oxide (LCO)
         2. Lithium Manganese Oxide (LMO)
         3. Lithium Iron Phosphate (LFP)
         4. Lithium Nickel Manganese Cobalt Oxide (LI-NMC)
         5. Lithium Nickel Cobalt Aluminum Oxide (NCA)
         6. Lithium Titanate Oxide (LTO)
      2. By Component
         1. Cathode
         2. Anode
         3. Electrolytic
         4. Separator
         5. Others
      3. By Capacity
         1. O–3000 mAh
         2. 3000–10000 mAh
         3. 10000–60000 mAh
         4. 60000 mAh & Above
      4. By Voltage
         1. Low (Below 12V)
         2. Medium (12V–36V)
         3. High (Above 36V)
      5. By Product
         1. Cell
         2. Energy Storage System (ESS)
         3. Module
         4. Pack
         5. Others
      6. By End User
         1. Consumer Electronics
         2. Automotive
         3. Industrial
         4. Power
         5. Construction
         6. Telecom
         7. Aerospace & Defense
         8. Marine
         9. Medical
         10. Others
      7. By Country
         1. Saudi Arabia
         2. UAE
         3. Qatar
         4. Kuwait
         5. South Africa
         6. Nigeria
         7. Algeria
         8. Rest of MEA
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Middle East and Africa Lithium-ion Battery Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on Middle East and Africa Lithium-ion Battery Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Amperex Technology Limited
   2. BYD Company Ltd
   3. Codi Energy Ltd
   4. Contemporary Amperex Technology Co., Limited.
   5. Exide Technologies
   6. GlobTek, Inc.
   7. GS Yuasa International Ltd
   8. Jiangxi JingJiu Power Science& Technology Co.,LTD
   9. Leclanche
   10. LG Chem.
   11. LITHIUMWERKS
   12. Panasonic Industry Co., Ltd
   13. Saft
   14. SAMSUNG SDI CO.,LTD
   15. Shenzhen Grepow Battery Co., Ltd
   16. Shuangdeng Group Co,Ltd
   17. SK Inc.
   18. TOSHIBA CORPORATION
   19. VARTA Microbattery GmbH
   20. Xiamen Tmax Battery Equipments Limited
   21. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1.  Qualitative Research
      1.  Primary & Secondary Research
   2.  Quantitative Research
   3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.  Breakdown of Primary Research Respondents, By Country
   5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Middle East and Africa Lithium-ion Battery Segmentation           

Figure 2       Middle East and Africa Lithium-ion Battery Market Value Chain Analysis         

Figure 3       Company Market Share Analysis, 2022         

Figure 4       Middle East and Africa Lithium-ion Battery Market Size, By Value (USD Million), 2019–2029          

Figure 5       Middle East and Africa Lithium-ion Battery Market Share, By Type, By Value, 2019–2029          

Figure 6       Middle East and Africa Lithium-ion Battery Market Share, By Component, By Value, 2019–2029          

Figure 7       Middle East and Africa Lithium-ion Battery Market Share, By Capacity, By Value, 2019–2029          

Figure 8       Middle East and Africa Lithium-ion Battery Market Share, By Voltage, By Value, 2019–2029          

Figure 9       Middle East and Africa Lithium-ion Battery Market Share, By Product, By Value, 2019–2029          

Figure 10     Middle East and Africa Lithium-ion Battery Market Share, By End User, By Value, 2019–2029          

Figure 11     Middle East and Africa Lithium-ion Battery Market Share, By Country, By Value, 2019–2029          

List of Tables

Table 1        Middle East and Africa Lithium-ion Battery Market Size, By Value (USD Million), 2019–2029 

Table 2        Middle East and Africa Lithium-ion Battery Market Size, By Type, By Value, 2019–2029 

Table 3        Middle East and Africa Lithium-ion Battery Market Size, By Component, By Value, 2019–2029 

Table 4        Middle East and Africa Lithium-ion Battery Market Size, By Capacity, By Value, 2019–2029 

Table 5        Middle East and Africa Lithium-ion Battery Market Size, By Voltage, By Value, 2019–2029 

Table 6        Middle East and Africa Lithium-ion Battery Market Size, By Product, By Value, 2019–2029 

Table 7        Middle East and Africa Lithium-ion Battery Market Size, By End User, By Value, 2019–2029 

Table 8        Middle East and Africa Lithium-ion Battery Market Size, By Country, By Value, 2019–2029 

Table 9        Amperex Technology Limited Company Overview

Table 10      Amperex Technology Limited Financial Overview

Table 11      BYD Company Ltd Company Overview

Table 12      BYD Company Ltd Financial Overview

Table 13      Codi Energy Ltd Company Overview

Table 14      Codi Energy Ltd Financial Overview

Table 15      Contemporary Amperex Technology Co., Limited. Company Overview

Table 16      Contemporary Amperex Technology Co., Limited. Financial Overview

Table 17      Exide Technologies Company Overview

Table 18      Exide Technologies Financial Overview

Table 19      GlobTek, Inc. Company Overview

Table 20      GlobTek, Inc. Financial Overview

Table 21      GS Yuasa International Ltd Company Overview

Table 22      GS Yuasa International Ltd Financial Overview

Table 23      Jiangxi JingJiu Power Science& Technology Co.,LTD Company Overview

Table 24      Jiangxi JingJiu Power Science& Technology Co.,LTD Financial Overview

Table 25      Leclanche Company Overview

Table 26      Leclanche Financial Overview

Table 27      LG Chem. Company Overview

Table 28      LG Chem. Financial Overview

Table 29      LITHIUMWERKS Company Overview

Table 30      LITHIUMWERKS Financial Overview

Table 31      Panasonic Industry Co., Ltd Company Overview

Table 32      Panasonic Industry Co., Ltd Financial Overview

Table 33      Saft Company Overview

Table 34      Saft Financial Overview

Table 35      SAMSUNG SDI CO.,LTD Company Overview

Table 36      SAMSUNG SDI CO.,LTD Financial Overview

Table 37      Shenzhen Grepow Battery Co., Ltd Company Overview

Table 38      Shenzhen Grepow Battery Co., Ltd Financial Overview

Table 39      Shuangdeng Group Co,Ltd Company Overview

Table 40      Shuangdeng Group Co,Ltd Financial Overview

Table 41      SK Inc. Company Overview

Table 42      SK Inc. Financial Overview

Table 43      TOSHIBA CORPORATION Company Overview

Table 44      TOSHIBA CORPORATION Financial Overview

Table 45      VARTA Microbattery GmbH Company Overview

Table 46      VARTA Microbattery GmbH Financial Overview

Table 47      Xiamen Tmax Battery Equipments Limited Company Overview

Table 48      Xiamen Tmax Battery Equipments Limited Financial Overview