Market Forecast By Types (Stationary, Motive, SLI), By Construction Method (Flooded, VRLA), By Application (Automotive, Utilities, Industrial, Commercial, Residential) And Competitive Landscape
Product Code: ETC002471 | Publication Date: Apr 2020 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | Saudi Arabia Lead-Acid Accumulators Market |
Forecast period | 2025-2031 |
CAGR | 5% |
Growing Sector | Automotive |
The Saudi Arabia Lead-Acid Accumulators Market report thoroughly covers the market by Types, Construction Methods, and Applications. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Saudi Arabia Lead-Acid Accumulators Market has been experiencing growth in recent years. This is due to numerous factors such as the demand for energy storage solutions, electric and hybrid vehicles, government measures, and industrialisation. It is expected that the market will continue to grow steadily in the forecast period 2024 โ 2030.
According to 6Wresearch, the Saudi Arabia Lead-Acid Accumulators Market size is expected to grow at a significant CAGR of 5% during 2025-2031. One of the key drivers is the increasing demand for energy storage solutions in various industries such as automotive, telecommunication, and renewable energy. Moreover, a significant increase in the adoption of electric and hybrid vehicles in Saudi Arabia has led to an increase in the demand for lead-acid batteries for use in these vehicles. Additionally, the government's push towards renewable energy sources led to the installation of solar panels and wind turbines, leading to the demand for the market. Moreover, lead-acid accumulators are widely used in telecommunication applications, providing backup power during power outages. Another significant driver for the lead-acid accumulators market in Saudi Arabia is the country's industrial sector as they are utilized in various industrial applications.
One of the major challenges is competition from other battery technologies, such as lithium-ion batteries. Additionally, the fluctuation of raw material prices, particularly lead, impacts the production cost of lead-acid batteries. Moreover, environmental concerns surrounding lead-acid batteries also hinder market growth.
One of the major players in the market is Johnson Controls Inc., which has been operating in Saudi Arabia and offers a wide range of lead-acid batteries for various applications, including automotive, industrial, and marine. Another key player in the Saudi Arabian market is Exide Industries Ltd., one of India's leading battery manufacturers. The company has a strong presence in the region through its subsidiary, Al Dobowi Limited, which is based in Dubai. Al Bassam International Factories LLC, National Batteries Company (NBC), Middle East Battery Company (MEBCO), and Zamil Industrial Investment Co. are some other players in the market.
One major initiative is the Lead-Acid Batteries Manufacturing Project launched by the Ministry of Energy, Industry, and Mineral Resources. The government has also provided subsidies and incentives for companies investing in battery manufacturing facilities in Saudi Arabia. Additionally, the government has set up industrial cities and free zones dedicated to the manufacturing sector, providing a conducive environment for companies in the lead-acid accumulators industry. Moreover, the government has established regulations and standards for the lead-acid battery industry to ensure quality, safety, and environmental protection.
The future of the lead-acid accumulators market in Saudi Arabia looks bright, with a steady growth rate in the coming years. The rise in demand for renewable energy sources, increasing investments in the power sector, and growing industrialization are some of the key factors driving the market growth. Additionally, technological advancements in battery technology and a shift towards electric vehicles are also expected to contribute to market growth.
According to Ravi Bhandari, Research Head, 6Wresearch, the SLI segment is expected to witness significant growth in the Saudi Arabia lead-acid accumulators market due to the increasing demand for passenger and commercial vehicles in the country.
In terms of construction method, the VRLA segment is expected to grow at a higher speed due to its advantages such as low maintenance requirements, no spillage risk, and a longer lifespan.
Based on the applications, the automotive segment dominates the market. This can be attributed to the growing automobile industry and rising consumer demand for electric and hybrid vehicles in the country.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Saudi Arabia Lead-Acid Accumulators Market Overview |
3.1 Saudi Arabia Lead-Acid Accumulators Market Revenues and Volume, 2021-2031F |
3.2 Saudi Arabia Lead-Acid Accumulators Market Revenue Share, By Construction Method, 2021&2031F |
3.4 Saudi Arabia Lead-Acid Accumulators Market Revenue Share, By Types, 2021&2031F |
3.6 Saudi Arabia Lead-Acid Accumulators Market Revenue Share, By Application, 2021&2031F |
3.7 Saudi Arabia Lead-Acid Accumulators Market - Industry Life Cycle |
3.8 Saudi Arabia Lead-Acid Accumulators Market - Porterโs Five Forces |
4. Saudi Arabia Lead-Acid Accumulators Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Saudi Arabia Lead-Acid Accumulators Market Trends |
6. Saudi Arabia Lead-Acid Accumulators Market Overview, by Construction Method |
6.1 Saudi Arabia Flooded Lead-Acid Accumulators Market Revenues and Volume, 2021-2031F |
6.2 Saudi Arabia VRLA Lead-Acid Accumulators Market Revenues and Volume, 2021-2031F |
7. Saudi Arabia Lead-Acid Accumulators Market Overview, by Types |
7.1 Saudi Arabia Lead-Acid Accumulators Market Revenue and Volumes, By Stationary, 2021-2031F |
7.2 Saudi Arabia Lead-Acid Accumulators Market Revenue and Volumes, By Motive, 2021-2031F |
7.3 Saudi Arabia Lead-Acid Accumulators Market Revenue and Volumes, By SLI, 2021-2031F |
8. Saudi Arabia Lead-Acid Accumulators Market Overview, by Application |
8.1 Saudi Arabia Lead-Acid Accumulators Market Revenue and Volumes, By Automotives, 2021-2031F |
8.2 Saudi Arabia Lead-Acid Accumulators Market Revenue and Volumes, By Utilities, 2021-2031F |
8.3 Saudi Arabia Lead-Acid Accumulators Market Revenue and Volumes, By Industrial, 2021-2031F |
8.4 Saudi Arabia Lead-Acid Accumulators Market Revenue and Volumes, By Commercial, 2021-2031F |
8.5 Saudi Arabia Lead-Acid Accumulators Market Revenue and Volumes, By Residential, 2021-2031F |
9. Saudi Arabia Lead-Acid Accumulators Market Key Performance Indicators |
10. Saudi Arabia Lead-Acid Accumulators Market Opportunity Assessment |
10.1 Saudi Arabia Lead-Acid Accumulators Market Opportunity Assessment, By Construction Method, 2031F |
10.2 Saudi Arabia Lead-Acid Accumulators Market Opportunity Assessment, By Types, 2031F |
10.3 Saudi Arabia Lead-Acid Accumulators Market Opportunity Assessment, By Application, 2031F |
11. Saudi Arabia Lead-Acid Accumulators Market Competitive Landscape |
11.1 Saudi Arabia Lead-Acid Accumulators Market By Companies, 2024 |
11.2 Saudi Arabia Lead-Acid Accumulators Market Competitive Benchmarking, By Operating Parameters |
12. Company Profiles |
13. Key Strategic Recommendations |
14. Disclaimer |