Saudi Arabia Automotive Battery Market

Saudi Arabia Automotive Battery Market

Saudi Arabia Automotive Battery Market is anticipated to grow at a decent CAGR in terms of value during the forecast period by 2028. Rapidly increasing number of passenger cars, two-wheeler, and light commercial vehicles escalating fleet size across the country to drive the Saudi Arabia Automotive Battery Market in the upcoming years.

In Saudi Arabia, passenger cars are the most preferable vehicles in terms of shared mobility, logistics, and traveling. Passenger cars have high horsepower in combination with dynamic engines, due to which these are suited for higher accelerations. Therefore, high power for the initiation of the engine is generated by the battery. Nowadays, people are adopting battery-powered vehicles due to their concern for the environment, which is further resulting in increasing the sales of automotive batteries in the country.

The spread of the COVID-19 pandemic has created both import and export crises in Saudi Arabia. According to Saudi Arabia’s General Authority of Statistics, the total exports of the country in the first quarter of 2020 showed a decline of 21.9% as compared to Q1 2019. Imports, on the other hand, showed a decline of 11.9% as compared to the same period in 2019. In Q2 2020, imports in the country showed a decline of 24.2% as compared to Q2 2019. Saudi Automotive Battery Market, being an import-driven market, witnessed a negative impact from the pandemic.

Rising Online Sales

Growing internet usage has altered business strategies for several industries throughout time, including the automobile battery sector. A significant component in the demand-supply cycle, the e-commerce sector now offers customers home delivery of a wide range of products. The e-commerce platform is being used by the car industry to increase sales across a wide range of countries. The battery market in Saudi Arabia is served by several significant online retailers. In the purview, Online battery shopping is anticipated to grow over the forecast period.

Penetration Of Chinese Players

A few prominent Chinese battery manufacturers are entering the Saudi Arabia market for batteries because of the significant growth in the number of the country's vehicles. The rising need for affordable batteries is a key factor in the expansion of Chinese batteries in the area. All battery makers have an equal chance to profit from the rising battery demand in Saudi Arabia because the country's automotive battery market is entirely import-driven. Numerous well-known battery firms in Saudi Arabia are contending with fierce rivalry as Chinese automobile batteries become more widely used. In addition, Chinese batteries are less expensive than premium batteries, which is increasing demand for them. With the entry of a Chinese brand's battery in the Saudi Arabia market, the demand for batteries is get fulfilled easily, and it is driving the market in a positive way.

Government Initiatives

Government initiatives in Saudi Arabia may help to advance the use of electric vehicles there. For the first EV pilot project in Saudi Arabia, the Saudi Electricity Company has agreements with Takaoka Tokyo, Nissan Motor, and Tokyo Electric Power Company. This agreement enables the construction of fast-charging facilities for electric vehicles. Most recently, Saudi Arabia and the UK signed a Memorandum of Understanding (MoU) to cut carbon emissions and support Saudi Vision 2028, which calls for at least 30% electrified passenger cars. The memorandum of understanding commits the two nations to share knowledge and work together to create technologies, such as smart grids, which will afterward fuel the rise of car batteries.

Technological Advancement

Lithium-ion batteries charge more quickly and last longer than conventional battery technology. Lithium-ion batteries are lighter and have a greater power density and battery life. When compared to other traditional batteries like nickel-metal hydride and lead-acid batteries, the lithium-ion battery for automobiles has emerged as an environmentally friendly and rechargeable energy source. The market is expected to increase at the fastest rate in the coming years. It is because lithium-ion batteries last longer between replacements due to the superior plate technology. Many battery manufacturers have started to invest in the research and development department in order to develop battery technology for the reduction of battery prices, which will help in the reduction of the overall price of vehicles. With the reduction in the price of batteries, the adoption of the battery in the aftermarket will increase with time; this is expected to drive the Saudi Arabia automotive battery market in the coming years.

Market Segmentation

The Saudi Arabia Automotive Battery Market is segmented based on type, vehicle type, battery type, battery capacity, region, and company. Based on type, the market is further divided into starter batteries and EV batteries. Based on vehicle type, the market is segmented into passenger cars, two-wheeler, and light commercial vehicles. Based on the battery type, the market is further segmented into lead-acid, lithium-ion, and others. Based on the battery capacity, the market is further segmented into Less than 50 Ah, 51-75 Ah, and above 75 Ah. Saudi Arabia, Automotive Battery Market analysis studies the regional segmentation to devise region market segmentation, divided among Central Region, Western Region, Eastern Region, Southern Region, and Northern Region.

Company Profiles

Some of the major players which are operating in Saudi Arabia's Automotive Battery Market are Middle East Battery Company, Exide Industries Ltd, Hankook & Company Co., Ltd., PT. Nipress, Tbk, Varta AG Group, CSB Energy Technology Co., Ltd., Leoch International Technology Limited Inc, GS Yuasa International Ltd., Robert Bosch Gmbh, Amara Raja Batteries Limited. are the major key players which are operating in the market. These players are spending on innovations to bring out a sound return on their investment. Additionally, advanced strategic moves, such as many automotive battery manufacturers, have opened there show room at a different location and has increased their distribution network to reach out to more and more customers across the country.

Report Scope:

In this report, Saudi Arabia Automotive Battery Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

• Saudi Arabia Automotive Battery Market, By Type:
• Starter Battery
• EV Battery
• Saudi Arabia Automotive Battery Market, By Vehicle Type:
• Passenger Car
• Two-Wheeler
• Light Commercial Vehicle
• Saudi Arabia Automotive Battery Market, By Battery Type:
• Lead Acid
• Lithium Ion
• Others
• Saudi Arabia Automotive Battery Market, By Battery Capacity:
• Less than 50 Ah
• 51-75 Ah
• Above 75 Ah
• Saudi Arabia Automotive Battery Market1, By Region:
• Central Region
• Western Region
• Eastern Region
• Southern Region
• Northern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Automotive Battery Market

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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