Middle East and Africa Lithium Ion Battery Market - Industry Trends and Forecast to 2031

Middle East and Africa lithium Ion Battery Market, By Type (Lithium Cobalt Oxide (LCO), Lithium Manganese Oxide (LMO), Lithium Iron Phosphate (LFP), Lithium Nickel Manganese Cobalt Oxide (LI-NMC), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Titanate Oxide (LTO)), Component (Cathode, Anode, Electrolytic, Separator, Others), Capacity (O to 3000 mAh, 3000 mAh to 10000 mAh, 10000 mAh to 60000 mAh, 60000 mAh & Above), Voltage (Low (Below 12V), Medium (12V-36V), High (Above 36V), Product (Cell, Energy Storage System (ESS), Module, Pack, Others), End User (Consumer Electronics, Automotive, Industrial, Power, Construction, Telecom, Aerospace and Defence, Marine, Medical, Others) - Industry Trends and Forecast to 2031.

Middle East and Africa Lithium Ion Battery Market Analysis and Size

The increase in demand for smartphones and consumer electronics is driving market growth. In addition, the growing demand for smart devices and wearables is expected to drive market growth. However, safety issues related to lithium-ion batteries are expected to hamper the growth of the market.

Data Bridge Market Research analyzes that the Middle East and Africa lithium-ion battery market which was USD 576.52 million in 2023, is likely to reach USD 1,157.20 million by 2031, and is expected to undergo a CAGR of 9.10% during the forecast period of 2024 to 2031.  “Lithium Cobalt Oxide (LCO)” dominates the type segment of the market because of its high energy density and safety level, LCO batteries are in great demand in mobile phones, tablets, laptops, and cameras, which is likely to boost segment growth throughout the forecast period. LFP batteries provide outstanding product safety and a long life duration.

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.

 Report Scope and Market Segmentation

Market Definition

A lithium-ion battery comprises lithium ions that move from the negative electrode to the positive electrode through the electrolyte during charging and move backward at the time of charging. These batteries are rechargeable and commonly used in consumer electronics and automobiles. It consists of four components cathode, anode, separator, and electrolyte. The anode helps in storing and releasing lithium ions from the cathode, enabling the passing of current through an external circuit.

Middle East and Africa Lithium-Ion Battery Market Dynamics

Drivers

• Increase in the Demand for Smartphones and Consumer Electronics

The demand and requirement for consumer electronics have continued to increase at an exponential rate. Lithium-ion batteries are common in consumer electronics. They are one of the most popular types of rechargeable batteries for portable electronics, with proper energy-to-weight ratios, high open-circuit voltage, and low self-discharge rate. The advancement in technologies has compacted the size of electronic devices making them slimer and lightweight, which is increasing the requirement for lithium-ion batteries. These batteries last longer, charge faster, and have a higher power density for more battery life in a lighter package. The benefits offered by lithium-ion batteries have increased the requirement in consumer electronics. Hence, an increase in demand for smartphones and consumer electronics is expected to boost the market growth.

• Growing Demand for Smart Devices and Wearables

The lithium-ion battery manufacturers are producing more flexible batteries that can be bent and rolled. These features offered by the manufacturers have increased the requirement for smart devices and wearables. The use of batteries was till now limited to bulky and rigid forms, which have been changed with more advancing technologies and through R&D. In addition, with the increasing growth in IoT and 5G, the adoption of smart devices has increased, which has led to the market growth. Companies are launching new batteries, which are suitable for wearables and various other smart devices leading to market growth.

Opportunity

• Growing Adoption of Renewable Energy in the Region

Lithium-ion batteries are used in stationary batteries, which are basically devices that utilize chemical interactions between materials to store electricity at a set location for later use. These batteries aid in storing the electricity generated when the sun and wind are at their peak so that the energy can be made available to the grid when electricity demand is at its peak. The growth in the renewable energy industry is thus expected to create new opportunities for market growth.

Restraint/Challenge

• Safety Issues Related to Lithium-Ion Batteries

Lithium-ion batteries are widely used in various applications such as consumer electronics, industrial applications, medical devices, and automobiles. These batteries are lightweight and are designed to be flexible in nature with variable shapes. However, these batteries can be extremely dangerous if defective or overcharged, packaged incorrectly, misused, or mishandled. Lithium is highly reactive and flammable and can therefore cause severe damage to life and property. In addition, the batteries have a tendency to overheat and can even explode if the temperature exceeds the limit. The high risk involved because of overheating and other characteristics of lithium-ion can cause harm during storage, usage, and transportation of these batteries, which is expected to act as a major restraint for market growth.

This lithium-ion battery market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the lithium-ion battery market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Developments

• In January 2023, LG Chem. project won the FDI deal of the year award. This recognition made a significant impact on the growth of the company's image as well as the market growth
• In December 2019, Metair has finished the building of the first EV battery facility, in which the South African auto parts manufacturer has allegedly invested USD 15.1 million since 2017

Middle East and Africa Lithium-Ion Battery Market Scope

The lithium-ion battery market is segmented on the basis of type, component, capacity, voltage, product, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Lithium Cobalt Oxide (LCO)
• Lithium Manganese Oxide (LMO)
• Lithium Iron Phosphate (LFP)
• Lithium Nickel Manganese Cobalt Oxide (Li-NMC)
• Lithium Nickel Cobalt Aluminum Oxide (NCA)
• Lithium Titanate Oxide (LTO)

Component

• Cathode
• Anode
• Electrolytic
• Separator
• Others

Capacity

• 0 to 3000 MAH
• 3000 MAH to 10000 MAH
• 10000 MAH to 60000 MAH
• 60000 MAH & Above

Voltage

• Low (Below 12V)
• Medium (12V-36V)
• High (Above 36V)

Product

• Cell
• Energy Storage System (ESS)
• Module
• Pack
• Others

End User

• Consumer Electronics
• Automotive
• Industrial
• Power
• Construction
• Telecom
• Aerospace and Defense
• Medical
• Marine
• Others

Middle East and Africa Lithium-Ion Battery Market Regional Analysis/Insights

The lithium-ion battery market is analysed and market size insights and trends are provided by type, component, capacity, voltage, product, and end user are referenced above. The countries covered in the lithium-ion battery market report are South Africa, Egypt, Saudi Arabia, U.A.E, Israel, and rest of Middle East and Africa.

Israel is expected to dominate the market with the largest market share due to the presence of key market players such as Panasonic Industry Co., Ltd., SAMSUNG SDI CO., LTD, and TOSHIBA CORPORATION among others. Saudi Arabia is the fastest growing country in the region due to an increase in the demand for smartphones and consumer electronics and the increasing number of R&D and manufacturing facilities are anticipated to fuel the market growth during the forecast period in the country.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Middle East and Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Middle East and Africa Lithium-Ion Battery Market Share Analysis

The lithium-ion battery market competitive landscape provides details by competitors. details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Middle East and Africa presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the lithium-ion battery market.

Some of the major players operating in the lithium-ion battery market are:

• Amperex Technology Limited (China)
• BYD Company Ltd. (China)
• Codi Energy Ltd. (Canada)
• Contemporary Amperex Technology Co., Limited. (China)
• Exide Technologies (U.S.)
• GlobTek, Inc. (U.S.)
• GS Yuasa International Ltd. (Japan)
• Jiangxi JingJiu Power Science& Technology Co.,LTD. (China)
• Leclanche (Switzerland)
• LG Chem. (South Korea)
• LITHIUMWERKS (U.S.)
• Panasonic Industry Co., Ltd. (Japan)
• Saft (France)
• SAMSUNG SDI CO.,LTD. (South Korea)
• Shenzhen Grepow Battery Co., Ltd. (China)
• Shuangdeng Group Co,Ltd (China)
• SK Inc. (South Korea)
• TOSHIBA CORPORATION (Japan)
• VARTA Microbattery GmbH (A subsidiary of VARTA AG) (Germany)
• Xiamen Tmax Battery Equipments Limited (China)