North Africa Battery Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 9.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North Africa Battery Market Analysis
The North Africa Battery Market is expected to rise at a CAGR of more than 9% during the forecast period.
COVID-19 negatively impacted the market in 2020. Currently, the market has reached pre-pandemic levels.
- Over the long term, factors such as increasing adoption of renewable energy such as solar and wind in the region and rapidly growing telecom and database sectors are likely to drive the North African battery market.
- On the other hand, low domestic and foreign investment is expected to restrain the North African market during the forecast period.
- The increasing involvement of the countries in the region towards its renewable and Electric Vehicle (EV) sector is likely to create several future opportunities for the North African battery market.
North Africa Battery Market Trends
Lithium-ion Batteries to Dominate the Market Growth
- Lithium-ion batteries are a rechargeable type of battery that is commonly used in electronic devices and energy vehicles. These batteries are also being used for the storage of energy from renewable energy sources such as solar and wind.
- The energy densities of these batteries are quite high and have a round trip efficiency of 85% to 95%, which means the ratio of energy output/released to energy input/stored. The lithium-ion battery is a low-maintenance battery, and the cells of the battery cause little harm to the environment when disposed of.
- Moreover, the governments of the countries in the region are promoting Electric Vehicles (EVs) in their countries and are reaching out to attract foreign investments. The governments of several countries in the region have launched regional initiatives and policies regarding Electric Vehicles (EVs).
- In March 2020, the President of Algeria called for the promotion of electric cars aiming to reduce the carbon footprint of the country. The government has therefore announced new specifications governing the activity of the automotive industry in Algeria. To promote electric vehicles in the country, the government took several measures, such as restricting the importation of second-handed fossil fuel cars with fewer than three years and prohibiting diesel-based cars for importation. These restrictions on second-handed fossil fuel-based cars are expected to drive the electric vehicles sector in the country, which uses lithium-ion batteries for generating power.
- Hence, owing to the above points, the lithium-ion segment is likely going to be the fastest-growing segment in the North Africa Battery Market during the forecast period.
Egypt Expected to Dominate the Market
- Egypt is the largest economy in North Africa and has been attracting investments from other countries across the globe for the development of the batteries manufacturing facilities.
- Moreover, the government has set targets for renewable to make up 42% of the country's electricity mix by 2035, based on rapid solar and wind deployment. This is likely going to drive the battery market as batteries can be used to store extra power generated from renewable. In 2021, Egypt's total installed solar capacity was 1655.4 megawatts (MW), compared to 15 megawatts (MW) in 2010.
- In August 2021, Azelio won a USD 1.5 million conditional order from Egypt's Engazaat Development SAE for 20 of its TES.POD renewable energy storage devices. The TES.POD devices will be financed, implemented, and maintained by a project business co-owned by Azelio and Engazaat Development SAE and will be utilized in Egypt's SAVE sustainable agricultural initiative.
- The automotive industry in Egypt is witnessing rapid growth in the electric vehicles market, thus driving the country's battery market. Previously the batteries used in electric vehicles used to cost approximately half the price of the car, which made it non-economical for the people, but with the reduction in battery prices, it is feasible for the common people in the country.
- Hence, owing to the above points, Egypt is expected to dominate the North African battery market during the forecast period.
North Africa Battery Industry Overview
The North Africa Battery Market is moderately fragmented. Some of the key players in this market (not in particular order) are Toshiba Corp, Murata Manufacturing Co., Ltd., Exide Industries Ltd, Panasonic Corporation, and Duracell Inc.
North Africa Battery Market Leaders
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Toshiba Corp
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Murata Manufacturing Co., Ltd.
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Exide Industries Ltd
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Panasonic Corporation
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Duracell Inc
*Disclaimer: Major Players sorted in no particular order
North Africa Battery Market News
- October 2022: KarmSolar has secured USD 2.4 million in bank financing for a solar-plus-storage project in Egypt. The funds will be used for Phase 2 expansion of the company's existing solar microgrid system for Cairo 3A Poultry's farm in the Bahareya Oasis in Giza, Egypt. The energy storage system will comprise a 2.576MWp PV inverter and 1MW/3.957MWh storage.
North Africa 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 Threat of New Entrants
4.7.2 Bargaining Power of Consumers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Primary Battery
5.1.2 Secondary Battery
5.2 Technology
5.2.1 Lithium-ion Battery
5.2.2 Lead-acid Battery
5.2.3 Others
5.3 Application
5.3.1 Automotive Batteries
5.3.2 Industrial Batteries
5.3.3 Portable Batteries
5.3.4 Others
5.4 Geography
5.4.1 Egypt
5.4.2 Algeria
5.4.3 Rest of North Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
6.3.1 Chloride Egypt S.A.E
6.3.2 EL-Nisr Company
6.3.3 NOUR Akkumulatoren GmbH
6.3.4 Exide Industries Ltd
6.3.5 United Batteries Co.
6.3.6 Saft Groupe S.A.
6.3.7 Toshiba Corp
6.3.8 Murata Manufacturing Co., Ltd.
6.3.9 Panasonic Corporation
6.3.10 Duracell Inc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North Africa Battery Industry Segmentation
An electric battery is a source of electric power consisting of one or more electrochemical cells with external connections for powering electrical devices.
The North Africa Battery Market is segmented by type, technology, application, and geography. By type, the market is segmented into primary battery and secondary battery. By technology, the market is segmented into lithium-ion battery, lead-acid battery, and others. By application, the market is segmented into automotive batteries, industrial batteries, portable batteries, and others. The report also covers the market size and forecasts for the battery market in major countries across the region .The market sizing and forecast for each segment is based on revenue (USD billion).
| Type | |
| Primary Battery | |
| Secondary Battery |
| Technology | |
| Lithium-ion Battery | |
| Lead-acid Battery | |
| Others |
| Application | |
| Automotive Batteries | |
| Industrial Batteries | |
| Portable Batteries | |
| Others |
| Geography | |
| Egypt | |
| Algeria | |
| Rest of North Africa |
North Africa Battery Market Research FAQs
What is the current North Africa Battery Market size?
The North Africa Battery Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)
Who are the key players in North Africa Battery Market?
Toshiba Corp, Murata Manufacturing Co., Ltd. , Exide Industries Ltd , Panasonic Corporation and Duracell Inc are the major companies operating in the North Africa Battery Market.
What years does this North Africa Battery Market cover?
The report covers the North Africa Battery Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the North Africa Battery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Battery in North Africa Industry Report
Statistics for the 2024 Battery in North Africa market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Battery in North Africa analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
