Market Size of Middle-East Electric Vehicle Battery Industry
| 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 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 Size Summary
The Middle-East Electric Vehicle Battery Market is poised for significant growth, driven by the increasing adoption of electric vehicles across the region, particularly in countries like the United Arab Emirates, Saudi Arabia, and Oman. Supportive government policies and initiatives aimed at reducing carbon emissions are further propelling this trend. Despite challenges such as the high cost of electric vehicles, a demand-supply gap for essential raw materials like cobalt, and insufficient charging infrastructure, the market is expected to expand. Investments in public charging infrastructure and advancements in electric vehicle efficiency are anticipated to create substantial opportunities for market growth. The United Arab Emirates is expected to lead the market, bolstered by its strategic initiatives and investments in electric vehicle manufacturing and infrastructure.
Lithium-ion batteries are expected to dominate the Middle-East Electric Vehicle Battery Market, with significant developments in battery production and recycling facilities enhancing the region's capabilities. The establishment of the first lithium-ion battery production facility in Abu Dhabi and the launch of a battery recycling facility in the UAE underscore the region's commitment to advancing its electric vehicle ecosystem. The UAE's efforts to promote green mobility solutions, including the construction of charging stations and incentives for electric vehicle users, are expected to drive the market further. Key players in the market, such as C&D Technologies Inc., East Penn Manufacturing Co. Inc., and Exide Industries Ltd, are actively contributing to the market's growth, supported by strategic agreements and investments in battery production and processing facilities across the region.
Middle-East Electric Vehicle 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 2027
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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 Substitutes 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 Battery Type
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2.1.1 Lead-acid Battery
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2.1.2 Lithium-ion Battery
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2.1.3 Other Battery Types
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2.2 Vehicle Type
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2.2.1 Battery Electric Vehicle (BEV)
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2.2.2 Plug-in Hybrid Electric Vehicle (PHEV)
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2.2.3 Hybrid Electric Vehicle (HEV)
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2.3 Geography
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2.3.1 Saudi Arabia
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2.3.2 The United Arab Emirates
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2.3.3 Oman
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2.3.4 Rest of Middle-East
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Middle-East Electric Vehicle Battery Market Size 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.
