Middle East & Africa Lithium-ion Battery Market Size & Outlook
Middle East & Africa lithium-ion battery market, 2018-2030 (US$M)
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MEA lithium-ion battery market highlights
- The MEA lithium-ion battery market generated a revenue of USD 12.1 million in 2023.
- The market is expected to grow at a CAGR of 27.2% from 2024 to 2030.
- In terms of segment, lithium nickel manganese cobalt (nmc) was the largest revenue generating product in 2023.
- Lithium Iron Phosphate (LiFePO4) is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 12.1 million |
| Market revenue in 2030 | USD 65.5 million |
| Growth rate | 27.2% (CAGR from 2023 to 2030) |
| Largest segment | Lithium nickel manganese cobalt (nmc) |
| Fastest growing segment | Lithium Iron Phosphate (LiFePO4) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LiFePO4), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate (LTO), Lithium Nickel Manganese Cobalt (NMC) |
| Key market players worldwide | BYD Co Ltd ADR, Hitachi Ltd, Johnson Controls International PLC, LG Chem, Panasonic Holdings Corp, Samsung SDI Co Ltd GDR - 144A, Toshiba Tec Corp ADR, GS Yuasa Corp |
Other key industry trends
- In terms of revenue, MEA region accounted for 2.6% of the global lithium-ion battery market in 2023.
- 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 702.7 million by 2030.
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Lithium-ion Battery Market Scope
Lithium-ion Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa lithium-ion 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 lithium-ion battery market will help companies and investors design strategic landscapes.
Lithium nickel manganese cobalt (nmc) was the largest segment with a revenue share of 18.18% in 2023. Horizon Databook has segmented the Middle East & Africa lithium-ion battery market based on lithium cobalt oxide (lco), lithium iron phosphate (lifepo4), lithium nickel cobalt aluminum oxide (nca), lithium manganese oxide (lmo), lithium titanate (lto), lithium nickel manganese cobalt (nmc) covering the revenue growth of each sub-segment from 2018 to 2030.
MEA is expected to witness growth over the forecast period owing to the increasing demand for portable consumer electronics in countries including Saudi Arabia, South Africa, and Egypt. The growing middleclass population coupled with rising disposable incomes is expected to fuel the market growth.
In addition, advancements in energy storage technology in the Middle East and Africa are expected to fuel market demand. The overall grid connected storage in the Middle Eastern region is expected to reach 1.8GW by 2025.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa lithium-ion battery market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa lithium-ion battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA lithium-ion battery market size, by country, 2018-2030 (US$M)
Middle East & Africa Lithium-ion Battery Market Outlook Share, 2023 & 2030 (US$M)
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