Middle-East and Africa Battery Cell Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Middle-East and Africa battery cell market is expected to register a CAGR of more than 13.2% during the forecast period. Covid-19 was first detected in China between late 2019 and early 2020; since then, countries across the globe have been under strict lockdown, drastically impacting the battery cell market. In the Middle East and Africa, the battery market is import based, and due to restrictions on cross-border trades, the industry was negative impacts. Factors such as the significant rise in investment and development of renewable energy projects and supportive government policies and schemes to promote renewable energy coupled with rising EV sales are expected drivers for the Middle East and Africa battery cell market in the forecast period. However, battery cell safety concerns and a rise in battery caching fire incidents are expected to hinder the battery cell market in the near future.
Key HighlightsThe Middle-East and Africa battery cell market is highly fragmented. Some of the key players in the market include BYD Co. Ltd, Contemporary Amperex Technology Co. Limited, Duracell Inc., EnerSys, and Clarios.
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