Middle East & Africa Battery Cooling Plate Market Size & Outlook
Middle East & Africa battery cooling plate market, 2018-2030 (US$M)
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MEA battery cooling plate market highlights
- The MEA battery cooling plate market generated a revenue of USD 2.5 million in 2022.
- The market is expected to grow at a CAGR of 12% from 2023 to 2030.
- In terms of segment, bev was the largest revenue generating application in 2022.
- BEV is the most lucrative application segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2022 | USD 2.5 million |
| Market revenue in 2030 | USD 6.2 million |
| Growth rate | 12% (CAGR from 2022 to 2030) |
| Largest segment | Bev |
| Fastest growing segment | BEV |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | BEV, PHEV |
| Key market players worldwide | Dana Inc, HELLA GmbH & Co KGaA, Nomura Holdings Inc ADR, Modine Manufacturing Co, MAHLE, Bespoke Composite Panels, Nippon Light Metal, Priatherm, SANHUA Automotive, Goshu Kohsan Co |
Other key industry trends
- In terms of revenue, MEA region accounted for 0.6% of the global battery cooling plate market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 937.4 million by 2030.
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Battery Cooling Plate Market Scope
Battery Cooling Plate Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa battery cooling plate market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to battery cooling plate market will help companies and investors design strategic landscapes.
Bev was the largest segment with a revenue share of 52% in 2022. Horizon Databook has segmented the Middle East & Africa battery cooling plate market based on bev, phev covering the revenue growth of each sub-segment from 2018 to 2030.
Furthermore, in September 2022, the Saudi Arabian government announced that it has agreed to a contract with Lucid Motors to purchase a minimum of 50,000 EVs and up to 100,000 EVs over a span of ten years. This move would boost the drive to make its fleet to be more environmentally friendly and further aligns with the Middle East Green Initiative and Saudi Green Initiative.
Africa is also witnessing investments in the EV industry. For instance, as July 2022, Morocco has plans to set up an EV battery manufacturing plant. The country is in negotiations with manufacturers to integrate the plant with its existing automotive sector.
Also, in April 2022, Zambia and the Democratic Republic of Congo signed a historical cooperation agreement to produce EV batteries. Growing EV battery production in the region is anticipated to propel the demand for cooling plates over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa battery cooling plate market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa battery cooling plate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa battery cooling plate market
Middle East & Africa Battery Cooling Plate Market Outlook Share, 2022 & 2030 (US$M)
Middle East & Africa battery cooling plate market
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