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Saudi Arabia Battery Material Market is Expand at a robust CAGR during 2020-2027 | Report Size & Share
Saudi Arabia Battery Material Market
The Saudi Arabia Battery Material Market is expected to grow at a faster CAGR over the forecast period (2020-2027).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/saudi-arabia-battery-material-market/
The factors driving growth of the Saudi Arabia Battery Material Market includes expansion of the renewable energy sector, growing demand for smart devices, rising number of smart cities, fall in the prices of lithium-ion batteries and improvements in the living standards. For instance, the Government of Saudi Arabia under its Vision 2030, announced to invest over USD 100 billion in renewable energy projects and further plans to grow the share of gas and renewable energy in its power mix to 50% by the end of 2030, which will accelerate the Saudi Arabia Battery Material Market share in the coming years. Moreover, growing concerns related to greenhouse gas emissions and climate change, increasing adoption of advanced technologies by manufacturers, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Saudi Arabia Battery Material Market size. In addition, the increasing investments by leading players on research and development, strategic partnerships and collaborations between companies and growing population growth rates, are further contributing towards the market growth.
However, growth of the Saudi Arabia Battery Material Market is hindered attributed to inadequate charging infrastructure.
The leading players operating in the market are Saudi Arabia BASF, Dow Saudi Arabia, Toray Membrane Middle East LLC (TMME), Asahi Kasei Corporation, POSCO E&C Saudi Arabia and Sumitomo Corporation Saudi Arabia Ltd., among others.
Based on Batter Type, the Lead Acid segment is predicted to dominate the market during the forecast period
Increasing use of lead acid materials in power backup, security system and emergency lighting, is propelling segment's growth.
Based on Material, the Lead-Acid battery Material segment is projected to expand at a remarkable CAGR over the forecast period
Lead acid battery constitute of materials such as cathode material, anode material and electrolyte material, and is increasingly used in commercial and residential power backup, is pushing segment's growth.
Based on Application, the Lead-acid Battery segment is anticipated to hold the highest market share during the forecast period
Increasing application of lead acid battery in passenger cars, commercial cars and motorcycles, is augmenting the segment growth.
Market Segmentation
Segmentation by Battery Type
Li-ion
Lead Acid
Others
Segmentation by Material
Li-ion Battery Material
Cathode
Lithium Iron Phosphate (LFP)
Lithium Cobalt Oxide (LCO)
Lithium Nickel Manganese Cobalt (NMC)
Lithium Nickel Cobalt Aluminium (NCA)
Lithium Manganese Oxide (LMO)
Anode
Natural Graphite
Artificial Graphite
Other Anode Materials
Electrolyte Material
Separator Material
Other Materials
Lead-Acid battery Material
Cathode Material
Anode Material
Electrolyte Material
Separator Material
Other Materials
Other Battery Materials
Segmentation by Application
Li-ion Battery
Portable Devices
Electric Vehicles
Industrial
Others
Lead-acid Battery
Automotive
Industrial
Others
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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