West Africa Battery Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The West African battery market is expected to register a CAGR of more than 4% during the forecast period (2022–2027). With the COVID-19 outbreak in Q1 of 2020, the market witnessed a substantial decrease in battery sales, constraining new investments in battery businesses. The COVID-19 situation has exposed the overdependency on the region for key raw materials, especially from China. Factors such as increasing demand for batteries from numerous applications, especially consumer electronics, electric vehicles, and backup power applications, and growth in the automotive and motorcycle fleet are expected to drive the West African battery market during the forecast period. However, the lack of supportive government policies and limited manufacturing facilities are expected to hinder the market's growth during the study period.
Key HighlightsThe West African battery market is moderately consolidated. The key players in the market include The Ibeto Group, Forgo Battery Company Limited, Luminous Power Technologies, Franerix Solar Solutions Limited, and Robert Bosch (Pty) Ltd.
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