Middle East & North Africa Battery Market is Projected to Grow to $ 4.48 Billion by 2023 | TechSci Research
According to TechSci Research report, “Middle East & North Africa Battery Market By Type, By Application, By Country, Competition Forecast & Opportunities, 2013 – 2023”, battery market in the Middle East & North Africa (MENA) region is projected to grow to $ 4.48 billion by 2023. Growing automobile fleet size, increasing demand for premium passenger cars and medium commercial vehicles (MCVs), and technological advancements in battery technologies are among the key factors expected to drive the market over the coming years. Lead acid battery segment holds the largest share in the Middle East & North Africa battery market, owing to extensive usage of these batteries in automobiles coupled with favorable government initiatives to promote clean energy across various countries in the MENA region. Continuous increase in battery imports from Asian and European countries is likely to further aid the market growth in the coming years.
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Backed by high population density and large automobile fleet, Saudi Arabia in the Middle East and Egypt in North Africa are the leading demand generating countries for batteries in the MENA region. In 2017, ACDelco accounted for the largest market share in MENA battery market and the company is likely to dominate the market during the forecast period as well, owing to strong distribution network and extensive line of products. Some of the other major players in Middle East & North Africa battery market include Johnson Controls, SEBANG Global Battery Co. Ltd., ATLASBX Co. Ltd., and GS Yuasa Corporation, among others.
“Growing usage of Heavy-duty Maintenance-Free batteries (HDMF), increasing automobile fleet size, surging investments in infrastructure development projects and rising penetration of lithium-ion batteries are the major factors anticipated to fuel demand for batteries in the Middle East & North Africa region during the forecast period. Moreover, market growth is expected to be driven by increasing imports of premium cars and growing focus on proper smelting facilities in the region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Browse 19 market data Tables and 181 Figures spread through 196 Pages and an in-depth TOC on “Middle East & North Africa Battery Market”
“Middle East & North Africa Battery Market By Type, By Application, By Country, Competition Forecast & Opportunities, 2013 – 2023” has analyzed the potential of Middle East & North Africa battery market, and provides information and statistics on market structure, size, share and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the Middle East & North Africa battery market