Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.97 Million |
| Market Size (2029) | USD 6.65 Million |
| CAGR (2024 - 2029) | 17.53 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market Analysis
The Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market size is estimated at USD 2.97 million in 2024, and is expected to reach USD 6.65 million by 2029, at a CAGR of 17.53% during the forecast period (2024-2029).
- Over the medium term, rising government policies and investments towards battery manufacturing and a decline in the cost of battery raw materials are expected to drive the demand for electric vehicle battery manufacturing equipment during the forecast period.
- On the other hand, the shortage of technological know-how in developing economies can significantly restrain the growth of the electric vehicle battery manufacturing equipment market.
- Nevertheless, the long-term ambitious targets for electric vehicles like scaling up production capacity, enhancing technological advancements, and reducing costs are expected to create significant opportunities for electric vehicle battery manufacturing equipment market players in the near future.
- United Arab Emirates (UAE) is anticipated to witness significant growth in the Middle East and Africa electric vehicle battery manufacturing equipment market due to the rising adoption of EVs across the region.
Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market Trends
Lithium-ion Battery Segment to Hold Significant Share
- Regions like the Middle East and Africa are experiencing a transformation in their electric vehicle (EV) battery manufacturing landscape, driven by falling raw material costs. Key materials, including lithium, cobalt, nickel, and graphite, have seen price reductions. This decline is not only lowering overall production costs but also making EV batteries more affordable, thus fueling the expansion of the EV market.
- Lithium-ion (Li-ion) batteries have been pivotal in reshaping the electric vehicle (EV) landscape, spurring advancements in battery production. In recent years, global prices for lithium-ion batteries have dropped significantly, a trend set to persist. This price dip has been instrumental in enhancing the affordability and accessibility of electric vehicles for a wider consumer base.
- For instance, Bloomberg NEF highlighted a notable decrease in lithium-ion battery prices. In 2023, prices fell to USD 139/kWh, marking a 13% reduction. Forecasts indicate this downward trend will continue, with prices projected at USD 113/kWh by 2025 and a further drop to USD 80/kWh by 2030, driven by ongoing technological and manufacturing advancements.
- The Middle East and Africa are bolstering their supply chains for lithium-ion battery production, covering everything from sourcing and processing raw materials to manufacturing equipment. By setting up local production facilities, companies can benefit from lower production costs while catering to the region's growing demand.
- For instance, in December 2023, an agreement was inked involving the Federal Ministry of Power, the China Ministry of Ecology and Environment, and Nigeria's Federal Ministry of Power. This pact details the creation of a USD 150 million lithium-ion battery manufacturing facility in Nigeria, led by a Chinese firm. Such initiatives are poised to boost the demand for electric vehicle battery manufacturing equipment in the region during the forecast period.
- Moreover, in February 2024, Kezad Group and Titan Lithium, a UAE-based company, unveiled plans for a USD 1.4 billion lithium processing facility in Abu Dhabi, aiming to bolster the region’s emerging electric vehicle (EV) sector. The duo has inked a 50-year land lease for the AED5 billion plant.
- These ventures are set to amplify lithium-ion battery production, subsequently driving up the demand for EV battery manufacturing equipment in the coming years.
United Arab Emirates (UAE) to Witness Significant Growth
- With its strategic location, robust infrastructure, and supportive government policies, the United Arab Emirates (UAE) is establishing a significant foothold in the electric vehicle (EV) battery manufacturing sector. As raw material costs decrease and the UAE deepens its commitment to clean energy and sustainable transportation, the industry for EV battery manufacturing equipment is experiencing notable growth.
- Additionally, rising electric vehicle (EV) sales in the UAE are driving up the demand for EV battery manufacturing equipment. As EV sales surge, so does the need for batteries, which in turn requires sophisticated manufacturing equipment for efficient and large-scale production. In recent years, the sale of EVs in the UAE has seen a pronounced uptick.
- For example, in 2023, the International Energy Agency (IEA) reported that 28,900 electric vehicles were sold, marking a 52.9% increase from 2022. Projections indicate a substantial rise in EV sales in the coming years, further amplifying the demand for battery manufacturing equipment in the region.
- Furthermore, the UAE government has introduced several initiatives, such as the Dubai Clean Energy Strategy 2050, to promote electric vehicles and sustainable energy. Through diverse policies and incentives, the government seeks to attract foreign investments into the clean energy and EV sectors. These efforts have fostered a flourishing environment for the growth of the EV battery manufacturing equipment industry in the region.
- For instance, in July 2023, the Ministry of Energy and Infrastructure (MoEI) announced a target for 2050: half of all vehicles on the nation's roads will be electric. This goal complements Dubai's ambition of having 42,000 electric vehicles on its roads by 2030. The MoEI's declaration highlights the nation's dedication to sustainable transportation and carbon emission reduction, fitting into a larger strategy against climate change and for environmental preservation. Such commitments are anticipated to boost EV production and elevate the demand for EV battery manufacturing equipment in the foreseeable future.
- Moreover, advancements in battery technology are not only enhancing the range and performance of electric vehicles (EVs) but also increasing their attractiveness to consumers. For instance, in 2023, Ensurge Micropower and other firms began commercializing solid-state lithium micro-batteries. These advanced batteries, when compared to traditional ones, offer superior energy density, faster charging, and a longer cycle life. Such technological strides are set to escalate EV battery production and heighten the nationwide demand for battery manufacturing equipment in the upcoming years.
- Consequently, these initiatives and advancements are poised to bolster the demand for EV battery manufacturing equipment across the UAE in the near future.
Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Industry Overview
The Middle East and Africa electric vehicle battery manufacturing equipment is moderately consolidated. Some key players (not in particular order) are Manz AG, Wirtz Manufacturing, Buhler AG, Sovema Group S.p.A, Hitachi Ltd., among others.
Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market Leaders
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Manz AG
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Wirtz Manufacturing
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Buhler AG
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Sovema Group S.p.A
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Hitachi Ltd.
*Disclaimer: Major Players sorted in no particular order
Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market News
- April 2024: Statevolt, an American battery manufacturer, is set to invest USD 3 billion in constructing an electric vehicle battery factory in Ras Al Khaimah. This facility aims to cater to export markets, including Africa, India, the United Arab Emirates, and other nations in the Middle East. Consequently, this investment is poised to boost the demand for battery manufacturing equipment.
- February 2024: ReElement Technologies and Afrivolt have inked a memorandum of understanding to strengthen Africa's lithium-ion battery supply chains, both on the continent and in the global arena. This agreement sets the stage for a joint initiative to establish a comprehensive closed-loop ecosystem for lithium battery and electric vehicle manufacturing in Africa.
Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Government Policies and Investments towards battery manufacturing
4.5.1.2 Decline in cost of battery raw materials
4.5.2 Restraints
4.5.2.1 Dearth of technological know-how in developing economies
4.6 Supply Chain Analysis
4.7 Industry Attractiveness - 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
4.8 Investment Analysis
5. MARKET SEGMENTATION
5.1 Process
5.1.1 Mixing
5.1.2 Coating
5.1.3 Calendering
5.1.4 Slitting and Electrode Making
5.1.5 Other Process
5.2 Battery
5.2.1 Lithium-ion
5.2.2 Lead-Acid
5.2.3 Nickel Metal Hydride Battery
5.2.4 Other Batteries
5.3 Geography
5.3.1 United Arab Emirates
5.3.2 Saudi Arabia
5.3.3 Egypt
5.3.4 Nigeria
5.3.5 Qatar
5.3.6 South Africa
5.3.7 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 Manz AG
6.3.2 Hitachi Ltd.
6.3.3 Sovema Group S.p.A
6.3.4 Wirtz Manufacturing
6.3.5 Buhler AG
6.3.6 SunPower Corporation (MEA)
6.3.7 First National Battery
6.3.8 Microvast Power Systems
6.3.9 Metair Investments Ltd.
6.3.10 Inobat
- *List Not Exhaustive
6.4 List of Other Prominent Companies
6.5 Market Ranking Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Long-term ambitious targets for electric vehicles
Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Industry Segmentation
Electric vehicle battery manufacturing equipment encompasses the machinery, tools, and systems tailored for producing batteries specifically for electric vehicles (EVs). This equipment plays a pivotal role in multiple stages of the battery production process. These stages include Material Preparation and Processing, Electrode Manufacturing, Cell Assembly, Formation and Testing, Module and Pack Assembly, Quality Control and Inspection, as well as Automation and Handling.
The Middle East and Africa's electric vehicle battery manufacturing equipment market is Segmented by Process, Battery Type, and Geography. By process, the market is segmented into Mixing, Coating, Calendering, Slitting and Electrode Making, and Other Processes. By battery type, the market is segmented into Lithium-Ion Battery, Lead-Acid Battery, Nickel Metal Hydride Battery, and Others. The report also covers the market size and forecasts for the Middle East and Africa's electric vehicle battery manufacturing market across major countries. The Report Offers the Market Size and Forecasts in Revenue (USD) for all the Above.
| Process | |
| Mixing | |
| Coating | |
| Calendering | |
| Slitting and Electrode Making | |
| Other Process |
| Battery | |
| Lithium-ion | |
| Lead-Acid | |
| Nickel Metal Hydride Battery | |
| Other Batteries |
| Geography | |
| United Arab Emirates | |
| Saudi Arabia | |
| Egypt | |
| Nigeria | |
| Qatar | |
| South Africa | |
| Rest of Middle East and Africa |
Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market Research Faqs
How big is the Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market?
The Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market size is expected to reach USD 2.97 million in 2024 and grow at a CAGR of 17.53% to reach USD 6.65 million by 2029.
What is the current Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market size?
In 2024, the Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market size is expected to reach USD 2.97 million.
Who are the key players in Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market?
Manz AG, Wirtz Manufacturing, Buhler AG, Sovema Group S.p.A and Hitachi Ltd. are the major companies operating in the Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market.
What years does this Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market cover, and what was the market size in 2023?
In 2023, the Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market size was estimated at USD 2.45 million. The report covers the Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle East And Africa Electric Vehicle Battery Manufacturing Equipment Industry Report
Statistics for the 2024 Middle East And Africa Electric Vehicle Battery Manufacturing Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Middle East And Africa Electric Vehicle Battery Manufacturing Equipment analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
