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North Africa Lithium-Ion Battery Market Trends

Report ID: GMI5732
Published Date: May 2023
Report Format: PDF

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North Africa Lithium-Ion Battery Industry 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.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of North Africa lithium-Ion battery market exceeded USD 91.4 million in 2023 and is projected to depict 13.7% CAGR during 2024-2032, with robust demand for electronic devices and changing technological landscape.

The LMO segment in the region reached a market value of over USD 10 million in 2022 as a result of wide applicability across medical instruments, power tools, and electric and hybrid vehicles.

North Africa lithium-ion battery industry size from the energy storage applications is anticipated to attain 24% gains between 2023 and 2032, with increasing demand for grid stability and electricity, coupled with favorable government measures to provide uninterrupted power supply.

Egypt lithium-ion battery sector will hold a significant revenue share by 2032, on account of the increasing adoption of lithium-ion batteries across households and the automotive industry in the region.

Major lithium-ion battery manufacturers are General Electric, EXIDE INDUSTRIES LTD., Toshiba Corporation, Panasonic Corporation, Hitachi Energy Ltd., Koninklijke Philips N.V., and BYD Company Ltd.