Saudi Arabia Lithium-ion Battery Market Size & Outlook
Saudi Arabia lithium-ion battery market, 2018-2030 (US$M)
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Saudi Arabia lithium-ion battery market highlights
- The Saudi Arabia lithium-ion battery market generated a revenue of USD 2.8 million in 2023 and is expected to reach USD 16.9 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 29.1% 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.
Lithium-ion battery market data book summary
| Market revenue in 2023 | USD 2.8 million |
| Market revenue in 2030 | USD 16.9 million |
| Growth rate | 29.1% (CAGR from 2023 to 2030) |
| Largest segment | Lithium nickel manganese cobalt (nmc) |
| Fastest growing segment | Lithium Iron Phosphate (LiFePO4) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Saudi Arabia accounted for 0.6% of the global lithium-ion battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia lithium-ion 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 16.3 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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Saudi Arabia 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 17.86% in 2023. Horizon Databook has segmented the Saudi Arabia 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.
Growing construction sector in the country along with advanced real estate regulatory framework and increasing infrastructure project is expected to drive product demand.
In addition, various factors including favorable macroeconomics, positive demographics, and rising tourism activities will promote the construction growth which is anticipated to drive the demand for lithium-ion batteries for energy storage and backup power solutions in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia lithium-ion battery market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia lithium-ion battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia lithium-ion battery market size, by product, 2018-2030 (US$M)
Saudi Arabia Lithium-ion Battery Market Outlook Share, 2023 & 2030 (US$M)
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