UAE Battery Market Size & Outlook, 2023-2030
UAE battery market, 2018-2030 (US$M)
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UAE battery market highlights
- The UAE battery market generated a revenue of USD 425.7 million in 2023 and is expected to reach USD 1,064.6 million by 2030.
- The UAE market is expected to grow at a CAGR of 14% from 2024 to 2030.
- In terms of segment, lithium ion was the largest revenue generating product in 2023.
- Flow Battery is the most lucrative product segment registering the fastest growth during the forecast period.
Battery market data book summary
| Market revenue in 2023 | USD 425.7 million |
| Market revenue in 2030 | USD 1,064.6 million |
| Growth rate | 14% (CAGR from 2023 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Flow Battery |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead Acid, Lithium Ion, Nickel-based, Sodium-ion, Flow Battery, Small Sealed Lead-acid Batteries |
| Key market players worldwide | BYD Co Ltd ADR, GS Yuasa Corp, Hitachi Ltd, Johnson Controls International PLC, LG Chem, NEC Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Toshiba Corporation |
Other key industry trends
- In terms of revenue, UAE accounted for 0.4% of the global battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, UAE battery market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,064.6 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
UAE battery 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 market will help companies and investors design strategic landscapes.
Lithium ion was the largest segment with a revenue share of 54.26% in 2023. Horizon Databook has segmented the UAE battery market based on lead acid, lithium ion, nickel-based, sodium-ion, flow battery, small sealed lead-acid batteries covering the revenue growth of each sub-segment from 2018 to 2030.
Rapid industrialization and infrastructure improvements in the U.A.E. are expected to positively impact product demand. Growing construction activities due to economic recovery, favorable regulatory framework, and increasing infrastructure projects are expected to drive the demand for lithium-ion batteries in power backup solutions.
The country is investing heavily in renewable energy projects, especially solar and wind. The resultant increase in renewable energy capacity is expected to propel the demand for batteries as energy storage solutions, thus driving the market growth.
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Target buyers of UAE battery market databook
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Our clientele includes a mix of battery market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the UAE battery market , including forecasts for subscribers. This country databook contains high-level insights into UAE battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UAE battery market size, by product, 2018-2030 (US$M)
UAE Battery Market Outlook Share, 2023 & 2030 (US$M)
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