North Africa Lithium-Ion Battery Market Size By Chemistry, By Component (Cathode, Anode, Separators, Electrolytes, Aluminum Foil, Copper Foil, Others), By Application (Industrial, Automotive, Consumer Electronics, Energy Storage) & Forecast, 2024 – 2032

North Africa Lithium-Ion Battery Market Size

North Africa Lithium-Ion Battery Market size surpassed USD 91.4 million in 2023 and is projected to grow at 13.7% CAGR from 2024 to 2032, owing to the robust demand for electronic devices and changing technological landscape across various industries. Growing need for energy efficient storage systems and safety concerns toward battery life has provided impetus to adoption of different lithium-ion chemistries. The global lithium-ion battery market is likely to cross USD 254.5 billion by 2032.
 

Introduction of supportive policies to promote electric vehicles, increasing economies of scale and technological advancement in manufacturing has significantly brought down the per kWh cost of batteries. Furthermore, increasing frequency of natural disasters associated with climate change have stimulated the demand for energy storage systems globally. Shifting trend towards acceptance of renewable energy technologies coupled with growing need for efficient and affordable storage systems will further fuel the lithium-ion battery market growth.

The dominance of these technologies can be attributed to its high-energy density, which means a lithium-ion cell of a specific weight and size provides significantly higher energy when compared to other batteries of the same size or weight. Technological advancements in Li-ion batteries have enabled the design of smaller and leaner portable electronics. In addition, robust distribution channels along with declining prices have positively influenced the requirement of these products.
 

COVID-19 Impact

The COVID-19 pandemic has significantly impacted the global economy, and the North Africa lithium-ion battery market. At the beginning of the pandemic, many countries implemented lockdowns and restrictions on travel and manufacturing, which disrupted the supply chain for lithium-ion batteries. However, as the pandemic progressed, the product demand has increased as people spent more time at home and used more electronic devices. Additionally, the growth of electric vehicles (EVs) continued despite the pandemic, with many governments around the world offering incentives and subsidies to promote EV espousal.
 

North Africa Lithium-Ion Battery Market Trends

Many battery manufacturers have ventured into the development of newer battery technologies. These new technologies offer a wide range of advantages over the traditional batteries, driving their demand across the power generation and automotive sector. The average energy density of lithium-ion battery technology is (100-265 Wh/kg or 250/670 Wh/L), which has significantly increased the technology penetration. Furthermore, electric vehicles have witnessed a significant surge in the past few years owing to the ambitious targets set toward lowering the vehicles’ cost. Supportive policies and increasing investment toward EV manufacturing have contributed toward reducing the consumer barriers across the region, which is set to bolster the demand for lithium-ion batteries.
 

North Africa Lithium-Ion Battery Market Analysis

The LMO segment held more than USD 10 million of lithium-ion battery market value in 2022. LMO batteries use manganese oxide as a cathode material which forms a 3-dimensional spinel structure providing improved flow dimensions of the ions on the electrode. This grants the battery a low internal resistance and greatly improves its current handling ability. The 3-dimensional spinel structure allows thermal resistance to be lowered which enables fast charging in the battery while current discharging is boosted. Moreover, lithium manganese oxide provides enhanced safety although it has a limited life cycle, which is further increasing their need in varied industry verticals.
 

The energy storage application is projected to witness 24% growth between 2023 and 2032. These batteries are essential for providing a reliable and constant power supply and thus, becoming one of the most crucial options for integrating wind and solar into power grids in the region. Furthermore, increasing demand for grid stability and electricity coupled with favorable government measures to provide uninterrupted power supply is anticipated to bolster the deployment of lithium-ion batteries. In addition, renewable energy integration measures implemented by various governments along with the increasing demand for off grid electricity will further stimulate the product installation.
 

The lithium-ion battery market in North Africa has witnessed a significant turnaround in 2022 on account of shifting focus toward zero emission vehicles coupled with increasing investments toward energy storage systems. However, technological advancements to enhance the product life cycle and robust growth in industrial activities has led to industry development, thereby providing a boost to the component demand. Electrolytes, aluminum foil, copper foil, anode and cathode are some of the key lithium-ion battery components being widely used in the industry.
 

Egypt lithium-ion technology market observed a significant turnaround owing to its various benefits including high energy density, fast charging, low maintenance, and higher safety. These batteries were previously utilized for charging small electronics; however, lithium-ion batteries are now adopted across households and the automotive industry. Also, the proliferating consumer spending behavior has given a boost to the regional energy demand which has supplemented the product adoption for storing energy. The government is continuously involved in establishing reforms and regulations to tackle the growing GHG emissions, which is advantageous for the lithium-ion battery industry development.
 

North Africa Lithium-Ion Battery Market Share

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

• General Electric
• EXIDE INDUSTRIES LTD.
• Toshiba Corporation
• Panasonic Corporation
• Hitachi Energy Ltd.
• Koninklijke Philips N.V.
• BYD Company Ltd.

These players focus on new product launch & commercialization and strategic partnerships for market expansion. Furthermore, these players are increasingly investing in research & development activities, which enable them to introduce innovative products and garner maximum revenue in the industry.
 

North Africa Lithium-Ion Battery Industry News:

• In January 2022, BYD innovated safe battery bus with V2G technology. It is the heart of the BYD Type A lithium-ion battery which is reliable and safe electric vehicle in the industry. The company offers two different charging solutions to meet the needs. Further it provides 19.2 kw single phase AC charging and provides solutions by charging at 150 kw DC with high charging power and high efficiency. This battery can cut fuel costs by 60% while comparing to diesel vehicles.
   
• In November 2021, Panasonic Holdings Corporation launched EverVolt 2.0, an updated version of the previously launched EverVolt battery storage system. The new battery system offers advantages & features including larger available sizes, different lithium-ion battery chemistry, and an outdoor rating. The three EverVolt 2.0 battery systems can be stacked to provide 76.9kWh usable capacity, favoring its demand in energy storage systems.
   

This North Africa lithium-ion battery market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2019 to 2032, for the following segments:

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Market, By Chemistry

• LFP
• LCO
• LTO
• NMC
• NCA
• LMO

Market, By Component

• Cathode
• Anode
• Separator
• Electrolyte
• Aluminum Foil
• Copper Foil
• Others

Market, By Application

• Industrial
  • Military
  • Heavy Industrial Equipment
  • Medical
  • Marine
  • Others
• Automotive
  • HEV
  • BEV
• Consumer Electronics
  • Smartphones
  • Laptops
  • UPS Systems
  • Smart Cameras
  • Smart Watches
  • Smart Glasses
  • Smart Textiles
  • Activity Trackers
  • Others
• Energy Storage

The above information is provided for the following countries:

• Egypt
• Libya
• Morocco
• Tunisia
• Algeria