The South Africa battery market is a dynamic sector witnessing significant growth driven by the expanding demand for energy storage solutions across various industries. As an integral component of various industries, batteries play a pivotal role in powering devices, vehicles, and renewable energy systems. The market encompasses various battery types, including lithium-ion, lead-acid, and nickel-metal hydride, each serving specific applications. South Africa battery market is poised for innovation and adaptation to meet the evolving energy landscape in the region.
Data Bridge Market Research analyses that the South Africa Battery Market was valued at USD 965.57 million in 2022 and is expected to reach the value of USD 1,747.87 million by 2030, at a CAGR of 7.70% during the forecast period of 2023 to 2030. The surge in industrial battery demand stems from increased automation and the widespread adoption of electric forklifts in logistics, storage, and manufacturing. This trend is expected to escalate throughout the forecast period.
Key Findings of the Study
Increasing demand for lead-acid batteries is expected to drive the market's growth rate
The lead-acid battery market experiences robust growth driven by its versatile applications in uninterrupted power supply (UPS), automotive, transport vehicles, telecommunication, and electric bikes. Particularly vital in healthcare, oil, gas, and chemical industries, the demand for lead-acid batteries thrives due to their affordability and high reliability. The escalating need for continuous power solutions further amplifies their prominence in various sectors, contributing to the sustained rise in demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Battery Type (Lead-acid Battery, Lithium-ion Battery, Nickel-cadmium Battery, Nickel Metal Hydride Battery, Nickel-zinc Battery, Flow Battery, Sodium-sulfur Battery, Zinc-manganese Dioxide Battery, Small Sealed Lead-acid Battery, Other Batteries), Type (Secondary and Primary), Sales Channel (Direct and Indirect), Voltage Range (Less than 50 Volt, 51 Volt to 100 Volt and More than 100 Volt), Components (Anode, Cathode, Separator and Outer Body/Container), Application (Automotive, Commercial, Mobile Phones, Electronic Devices, Industrial and Others)
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Market Players Covered
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Banner (Austria), DYNAVOLT Power (China), Tianneng rechargeable battery manufacturers (China), leoch International Technology Limited Inc, (China) Manbat Ltd T/A SYBS (U.S.), ENERSYS. (U.S.), Chaowei Power Holdings Ltd (China), KOYO BATTERY CO., LTD (China), Robert Bosch GmbH (Germany), GS Yuasa International Ltd (Japan)., EXIDE INDUSTRIES LTD (India), Battery Tender (U.S.), Camel Group Co., Ltd (China), Reem Batteries & Power Appliances Co. SAOC (Dubai), Saft (France), C&D TECHNOLOGIES, INC. (U.S.), Panasonic Corporation (Japan)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The South Africa battery market is segmented on the basis of battery type, type, sales channel, voltage range, components, and application.
- On the basis of battery type, the South Africa battery market is segmented into lead-acid battery, lithium-ion battery, nickel-cadmium battery, nickel metal hydride battery, nickel-zinc battery, flow battery, sodium-sulfur battery, zinc-manganese dioxide battery, small sealed lead-acid battery, and other batteries
- On the basis of type, the South Africa battery market is segmented into secondary and primary
- On the basis of sales channel, the South Africa battery market is segmented into direct and indirect
- On the basis of voltage range, the South Africa battery market is segmented into less than 50 volt, 51 volt to 100 volt, and more than 100 volt
- On the basis of components, the South Africa battery market is segmented into anode, cathode, separator, and outer body/container
- On the basis of application, the South Africa battery market is segmented into automotive, commercial, mobile phones, electronic devices, industrial, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major South Africa battery market players in South Africa battery market are EXIDE INDUSTRIES LTD (India), Battery Tender (U.S.), Camel Group Co., Ltd (China), Reem Batteries & Power Appliances Co. SAOC (Dubai), Saft (France), C&D TECHNOLOGIES, INC. (U.S.), Panasonic Corporation (Japan)
Market Developments
- In June 2023, Agratas Energy Storage Solutions, a Tata Group subsidiary, signed an agreement with the Gujarat government to establish India's inaugural gigafactory for Lithium-Ion batteries. The project entails an initial investment of USD 1.57 billion, aimed at establishing a formidable 20-gigawatt (GW) unit, marking a significant stride in advancing India's capacity for lithium-ion battery production
- In August 2022, MIT researchers launched an innovative low-cost battery design utilizing abundant materials—aluminum and sulfur—as electrodes, with a molten salt electrolyte. This breakthrough architecture offers affordable backup storage for renewable energy sources, addressing a key challenge in sustainable energy technology and potentially contributing to the widespread adoption of cleaner power systems
- In June 2022, Korean Trade Insurance Corporation (K-Sure) approved a USD 711 million term loan facility to facilitate the establishment of a battery manufacturing facility in Indonesia. This financial support is earmarked for advancing the production of batteries specifically designed for electric vehicles (EVs), reflecting a strategic move to bolster the growing EV industry in the region
- In January 2022, BYD and FAW announced plans to build an electric car battery production facility in North Eastern China, boasting an annual capacity of 45 GWh. The joint venture, FAW FinDreams New Energy Technology, with a registered capital of EUR 140 million, is majority-owned by BYD (51%), while FAW Group holds the remaining stake. This strategic collaboration underscores their commitment to advancing electric vehicle technology and production capabilities in the region
For more detailed information about the South Africa battery market report, click here – https://www.databridgemarketresearch.com/reports/south-africa-battery-market
