MENA Stationary Battery Storage Market is Projected to grow at a Promising Growth during 2020-2027 | Report Size, Share & forecast

MENA Stationary Battery Storage Market

The MENA Stationary Battery Storage Market is estimated to expand at a robust CAGR over the forecast period (2020-2027).

The factors driving the growth of MENA Stationary Battery Storage Market includes rise in the number of renewable energy projects across United Arab Emirates, Saudi Arabia, and Egypt, increase in the consumption of electricity and growing penetration of smart devices. According to the report published by Statista, the renewable energy capacity in Egypt has increased from 5,690 megawatts in 2019 to 6,226 megawatts in 2021, which is expected to boost the market growth in the approaching years. Moreover, fall in the prices of battery, emerging need to modernize the grid infrastructure, Government initiatives to promote digitalization, growing concerns related to climate change and global warming and technological advancements in battery storage, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, favorable regulations regarding the adoption of sustainable energy sources, rapid industrialization, growing disposable incomes and rising population growth rates, are further contributing towards the market growth.

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However, the growth of MENA Stationary Battery Storage Market is hindered due to high upfront cost and insufficient availability of skilled workforce.

The major players operating in the market are GE Company, Panasonic Corporation, NEC Corporation, The NGK Spark Plug Co., Ltd., Siemens AG, AEG Power Solutions BV, LG Chem Ltd., ABB Ltd, Hitachi, Ltd., and Samsung SDI among others.

Based on Battery, the Lithium-Ion segment is predicted to expand at a significant CAGR during the forecast period

Fall in the prices of lithium-ion Batteries along with low discharge rates and lightweight features of lithium-ion batteries, are propelling the segment's growth.

Based on Application, the Emergency Power segment is projected to grow at a remarkable CAGR over the forecast period

Rise in the incidence of frequent power outages, is increasing the adoption of stationary battery storage systems in MENA countries.

Based on Countries, the United Arab Emirates is anticipated to capture a sizeable market share during the forecast period

Fall in the prices of batteries, Government initiatives to promote the use of clean energy sources, rapid industrialization, increasing disposable income and growing population growth rates, are some of the important factors augmenting the market growth in United Arab Emirates.

Key Developments:

In 2020, Masdar entered a joint venture with Infinite Energy to work on renewable energy projects in Egypt and further aim to enhance the energy access in the Country

Market Segmentation

Segmentation by Battery

Sodium Sulphur
Lithium-Ion
Flow Batteries
Lead Acid
Others

Segmentation by Application

Communication Base Station
Emergency Power
Remote Relay Station
Local Energy Storage
Uninterruptible Power Supplies (UPS)

Segmentation by Countries

UAE MENA Stationary Battery Storage Market All-Up
Saudi Arabia MENA Stationary Battery Storage Market All-Up
Egypt MENA Stationary Battery Storage Market All-Up
Morocco MENA Stationary Battery Storage Market All-Up 
Rest of MENA Stationary Battery Storage Market All-Up 
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