Middle-East Electric Vehicle Battery Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Middle-East Electric Vehicle Battery Market Analysis
The Middle East Electric Vehicle Battery Market is expected to register a CAGR of 15% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Over the long term, Factors such as the growing usage of electric vehicles across various countries and Middle-Eastern regions such as the United Arab Emirates, Saudi Arabia, and Oman with supportive government policies are expected to drive the market.
- On the other note, the high cost of electric vehicles, the demand-supply gap of vital raw materials such as cobalt, and the lack of charging infrastructure are expected to restrain the market's growth.
- Nevertheless, increasing investments in deploying the public charging infrastructure clubbed with the increasing efficiency of the electric vehicle are expected to create a significant opportunity for the market's growth in the near future.
- The United Arab Emirates is expected to dominate the market due to the growing usage of electric vehicles across the country.
Middle-East Electric Vehicle Battery Market Trends
This section covers the major market trends shaping the Middle-East Electric Vehicle Battery Market according to our research experts:
Lithium-ion Battery is Expected to Dominate the Market
- Lithium is majorly used in battery applications for the production of lithium batteries. The battery application segment accounted for the largest share of the Middle-Eastern region in 2021.
- Lithium-ion batteries can be categorized into two segments, namely, disposable and rechargeable. Disposable lithium batteries use lithium in the metallic form as an anode. These batteries have a longer life (high charge density) than other standard batteries. These batteries find applications in critical devices with long life, such as pacemakers and other electronic medical devices implanted for many years.
- Also, in November 2021, Australian lithium exploration and development company Lepidico announced the signing of an agreement with Khalifa Industrial Zone Abu Dhabi (KIZAD), a subsidiary of AD Ports Group's Industrial Cities & Free Zone cluster, to establish the first lithium-ion battery production facility in the Middle East, utilizing a first of its kind designed process. The plant covers a land area of around 57,000 sqm. Additionally,y Lepidico plans to invest USD 95 million for the chemical conversion plant in Abu Dhabi for an initial term of 25 years.
- Furthermore, in March 2022, a joint venture between Dubai's Regency Group and Seashore Group announced their plans to launch the first battery recycling facility in the UAE by January 2023 and the region's first hi-tech lithium-ion battery production plant in two years.
- In the last couple of years, there has been a significant rise in EV sales in the Middle East region, which can be ascribed to the government initiative to lower carbon emissions in the region. In 2020, the total EV sales were around 4,421 units which increased to 7,554 units in 2021.
- Owing to the o above points, Lithium-ion battery is expected to dominate the Middle-East Electric Vehicle Market during the forecast period.
United Arab Emirates to Grow Significantly
- The United Arab Emirates is one of the leading economies in the Middle East region. In the last couple of years, the country witnessed a rise in passenger car sales; in 2020, the passenger car sales were around 1,54 thousand units which increased to 208 thousand units in 2021.
- However, OEM manufacturers are competing to expedite the process of dedicating resources to create fully electric models in the United Arab Emirates. Dubai has been working toward its long-term goal of electrification. It has launched several initiatives over the past few years to encourage sustainable choices among its residents.
- For instance, to promote the United Arab Emirates' plans for green mobility solutions and as part of its plan to have 25% of the city's trips converted into driverless journeys by 2030, the city completed the construction of a significant number of charging stations in the emirate by 2025. It exempts registered electric vehicles from charging fees until 2021 and parking fees until 2022.
- Further, in May 2022, M Glory Holding Group, an investment company in Dubai, announced it is soon likely to open an EV manufacturing plant, marking its foray into the highly competitive EV market amid the UAE's strategy to expand its manufacturing sector. The AED 1.5 billion facility at Dubai Industrial City - which will have a total land area of 93,000 square meters - will be one of the largest in the Middle East and aims to make 55,000 EVs a year. This, in turn, culminates in the growth in the usage of EV batteries for vehicles.
- Additionally, in September 2022, Khalifa Industrial Zone Abu Dhabi announced that it would construct a 25,000 square meter electric vehicle assembly facility, which will be operated by NWTN, an intelligent electric vehicle (EV) company for the manufacturing, research and development, and vehicle testing of electric vehicles. This will aid in the usage of EV batteries across the country.
- Therefore, owing to the above points and the country's recent developments, the United Arab Emirates is expected to grow significantly in the forecast period.
Middle-East Electric Vehicle Battery Industry Overview
The Middle-East Electric Vehicle Battery Market is fragmented. Some of the key players (in no particular order) include C&D Technologies Inc., East Penn Manufacturing Co. Inc., Exide Industries Ltd, First National Battery Pty Ltd, and Middle East Battery Company (MEBCO).
Middle-East Electric Vehicle Battery Market Leaders
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C&D Technologies Inc
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East Penn Manufacturing Co. Inc.
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Exide Industries Ltd,
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First National Battery Pty Ltd,
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Middle East Battery Company (MEBCO)
*Disclaimer: Major Players sorted in no particular order
Middle-East Electric Vehicle Battery Market News
- In February 2022, EV Metals group signed a Front-End Engineering Design Agreement with Mustang and Faisal Jameel Al Hejailan Consulting Engineering Company, a subsidiary of Wood Plc, for the development of the first two processing trains to produce lithium hydroxide monohydrate (LHM) in the Battery Chemicals Complex in the Kingdom of Saudi Arabia. The complex will produce high-purity chemicals such as lithium, nickel, cobalt, manganese, and other metals and active cathode materials for electric vehicles and renewable energy storage.
Middle-East Electric Vehicle Battery 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 billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 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
5. MARKET SEGMENTATION
5.1 Battery Type
5.1.1 Lead-acid Battery
5.1.2 Lithium-ion Battery
5.1.3 Other Battery Types
5.2 Vehicle Type
5.2.1 Battery Electric Vehicle (BEV)
5.2.2 Plug-in Hybrid Electric Vehicle (PHEV)
5.2.3 Hybrid Electric Vehicle (HEV)
5.3 Geography
5.3.1 Saudi Arabia
5.3.2 The United Arab Emirates
5.3.3 Oman
5.3.4 Rest of Middle-East
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 East Penn Manufacturing Co. Inc
6.3.2 C&D Technologies Inc.,
6.3.3 Exide Industries Ltd,
6.3.4 First National Battery Pty Ltd
6.3.5 Middle East Battery Company (MEBCO)
6.3.6 GS Yuasa Corporation
6.3.7 Mebco
6.3.8 Tesla Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Middle-East Electric Vehicle Battery Industry Segmentation
An electric vehicle battery is a rechargeable battery used to power the electric motors of a battery electric vehicle (BEV) or hybrid electric vehicle (HEV). The Middle East Electric Vehicle Battery Market is segmented by battery type, vehicle type, and geography. By battery type, the market is segmented into Lead-acid batteries, lithium-ion batteries, and other battery types. By vehicle type, the market is segmented into battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), and hybrid electric vehicles (HEV). The report also covers the market size and forecasts for the Middle-East electric vehicle battery market across the major countries. For each segment, the forecasts have been mentioned in USD billion.
| Battery Type | |
| Lead-acid Battery | |
| Lithium-ion Battery | |
| Other Battery Types |
| Vehicle Type | |
| Battery Electric Vehicle (BEV) | |
| Plug-in Hybrid Electric Vehicle (PHEV) | |
| Hybrid Electric Vehicle (HEV) |
| Geography | |
| Saudi Arabia | |
| The United Arab Emirates | |
| Oman | |
| Rest of Middle-East |
Middle-East Electric Vehicle Battery Market Research FAQs
What is the current Middle-East Electric Vehicle Battery Market size?
The Middle-East Electric Vehicle Battery Market is projected to register a CAGR of 15% during the forecast period (2024-2029)
Who are the key players in Middle-East Electric Vehicle Battery Market?
C&D Technologies Inc, East Penn Manufacturing Co. Inc., Exide Industries Ltd,, First National Battery Pty Ltd, and Middle East Battery Company (MEBCO) are the major companies operating in the Middle-East Electric Vehicle Battery Market.
What years does this Middle-East Electric Vehicle Battery Market cover?
The report covers the Middle-East Electric Vehicle Battery Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Middle-East Electric Vehicle Battery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle-East Electric Vehicle Battery Industry Report
Statistics for the 2024 Middle-East Electric Vehicle Battery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Middle-East Electric Vehicle Battery analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
