Middle East & Africa Sodium Sulfur Battery Market Size & Outlook
Middle East & Africa sodium sulfur battery market, 2016-2027 (US$M)
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MEA sodium sulfur battery market highlights
- The MEA sodium sulfur battery market generated a revenue of USD 2.7 million in 2019.
- The market is expected to grow at a CAGR of 28.8% from 2020 to 2027.
- In terms of segment, industrial was the largest revenue generating product in 2019.
- Industrial is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, South Africa is expected to register the highest CAGR from 2020 to 2027.
MEA data book summary
| Market revenue in 2019 | USD 2.7 million |
| Market revenue in 2027 | USD 20.6 million |
| Growth rate | 28.8% (CAGR from 2019 to 2027) |
| Largest segment | Industrial |
| Fastest growing segment | Industrial |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Private Portable, Industrial |
| Key market players worldwide | NGK Insulators Ltd, Basf SE, Tokyo Electron Ltd, GE Aerospace, Hitachi Ltd, POSCO Holdings Inc ADR, Yageo Corp ADR, Sieyuan Electric |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.5% of the global sodium sulfur battery market in 2019.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2027.
- Latin America is the fastest growing regional market and is projected to reach USD 34.9 million by 2027.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Sodium Sulfur Battery Market Scope
Sodium Sulfur Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa sodium sulfur 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 sodium sulfur battery market will help companies and investors design strategic landscapes.
Industrial was the largest segment with a revenue share of 81.48% in 2019. Horizon Databook has segmented the Middle East & Africa sodium sulfur battery market based on private portable, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
The Middle East and African region is known for its oil fields and oil reserves throughout the world. However, as these reserves cannot last forever, the authorities in this region are looking at sustainable and renewable energy storage resources such as the NaS batteries. Growing awareness about the benefits of renewable energy resources is the biggest driver of the market in this region.
Rapid industrialization coupled with improving infrastructure in region of Middle East is expected to positively impact market demand. Growing construction sector mainly in UAE and Qatar due to economic recovery, advanced real estate regulatory framework, and increasing infrastructure project will drive demand for NaS batteries for power backup solutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa sodium sulfur battery market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa sodium sulfur battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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MEA sodium sulfur batteries market size, by country, 2016-2027 (US$M)
Middle East & Africa Sodium Sulfur Battery Market Outlook Share, 2019 & 2027 (US$M)
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