The Middle East & Africa Automotive Battery Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of the Middle East & Africa Automotive Battery market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
Market Opportunities
According to MarkNtel Advisors’ research report titled “The Middle East & Africa Automotive Battery Market Analysis, 2020”, the Middle East & Africa Automotive Battery market is anticipated to grow at a CAGR of 4% during 2021-26F. The growth of the market is attributed to the paradigm shift of the consumers toward pollution-free electric and hybrid vehicles, burgeoning demand for cleaner energy sources, and the growing popularity of lithium-ion batteries. Besides these, an escalating number of commercial vehicles and passenger cars, advancements in automotive technology along with strong growth in the sales, and demand for battery electric vehicles are projected to lead to a lucrative opportunity for the growth of the market in the forecast period.
The outburst of COVID-19 has impacted the automotive industry adversely. The disruption in the supply chain, a sharp decline in the demand for commercial vehicles due to the shutdown of all non-essential services, and changes in consumer-buying behavior. However, it is anticipated that the market has started gaining pace at a steady rate which can have a positive outlook on the growth of the market in the near future.
Market Segmentation
Passenger Vehicle Acquired the Largest Chunk
Based on Vehicle, Passenger vehicle acquired the largest share in the Middle East & Africa Automotive Battery market in 2019. The rising disposable income of the people, burgeoning demand for premium cars, and a boost in the production of passenger vehicles. Moreover, the stringent regulations toward greenhouse emission have an optimistic impact on electric vehicles which is also projected to upsurge the growth of the automotive battery market in the region in the coming years as stated by the MarkNtel Advisors’ research report “The Middle East & Africa Automotive Battery Market Analysis, 2020”.
Competitive Landscape
According to MarkNtel Advisors, the key players with a considerable market share in the Middle East & Africa Automotive Battery market are East Penn Manufacturing Company, Enersys, Inc., Exide Technologies, Hitachi, Ltd., Panasonic Corporation, Toshiba Corporation, Middle East Battery Company (MEBCO), C&D Technologies Inc., FIAMM Energy Technology S.p.A., Saft Groupe S.A etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Middle East & Africa Automotive Battery Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Middle East & Africa Automotive Battery Market during 2021-26F?
A. The Middle East & Africa Automotive Battery Market is forecast to grow at a CAGR of 4% during 2021-26F.
Q. Who are the key competitors or players operating in Middle East & Africa Automotive Battery Market?
A. East Penn Manufacturing Company, Enersys, Inc., Exide Technologies, Hitachi, Ltd., Panasonic Corporation, Toshiba Corporation, Middle East Battery Company (MEBCO), C&D Technologies Inc., FIAMM Energy Technology S.p.A., Saft Groupe S.A etc., are few of the leading players in the Middle East & Africa Automotive Battery Market.
Q. Which vehicle segment would emerge as an opportunity area for players in Middle East & Africa Automotive Battery Market?
A. Passenger vehicle segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which country would emerge as an opportunity area for players in Middle East & Africa Automotive Battery Market?
A. UAE continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Middle East & Africa Automotive Battery Market.
