Africa Battery Market

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Africa Battery Market by Type (Lead Acid, Lithium Ion, Nickel Metal Hydride, Nickel Cadmium, and Others), by Application (Residential, Industrial, and Commercial), and by Power Systems (Fuel Cell Batteries, Proton-Exchange Membrane Fuel Cells, Alkaline Fuel Cells, Phosphoric Acid Fuel Cells, Solid Oxide Fuel Cells, Molten Carbonate Fuel Cells, Air Cells, Flywheel Energy Storage, Nuclear Batteries) – Opportunity Analysis and Industry Forecast 2023-2030

Industry: Energy & Power | Publish Date: 03-Dec-2024 | No of Pages: 78 | No. of Tables: 55 | No. of Figures: 27 | Format: PDF | Report Code : EP718

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Market Definition

Africa Battery Market was valued at USD 1.01 billion in 2022, and is predicted to reach USD 4.35 billion by 2030, with a CAGR of 19.9% from 2023 to 2030. A battery operates as a mechanism that stores energy and later releases it by transforming chemical energy into electrical energy. Typically, batteries produce electricity by harnessing one or more electrochemical cells. 

Batteries can be categorized into two distinct types are primary batteries and secondary batteries. Primary batteries, also known as non-rechargeable batteries, offer a straightforward and convenient energy supply for various portable electronic and electrical devices, including cameras, watches, toys, lights, radios, and more. In contrast, secondary batteries, often referred to as rechargeable batteries, possess the capability to be recharged electrically once they've been depleted. These energy storage solutions have evolved into indispensable sources of power in our daily routines. 

The progress of cutting-edge technologies, encompassing smartphones, tablets, laptops, solar energy systems, and electric vehicles (EVs), has ushered in the era of robust batteries capable of prolonged endurance and providing essential energy requirements.

Off-Grid Solar Projects Fuel Demand for Energy Storage and Propel Battery Market Growth

The Sub-Saharan African region is a key hotspot for off-grid solar projects. Hence, energy storage with solar PV has been gaining popularity in developed countries, such as South Africa, which is expected to boost the growth of the battery market in Africa. For instance, in November 2021, the government introduced the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), a government initiative in South Africa, mainly responsible for the country's increase in energy storage projects. The distributed Battery Energy Storage Systems (BESS) project involves the development of 360 MW storage systems at various Eskom distribution sites in several provinces. The project will be implemented in two phases, targeting the installation of 800 MWh and 640 MWh, respectively.

 

Falling Lithium-Ion Battery Prices and Enhanced Performance Propel Market Growth

The decline in average lithium-ion battery prices, fast recharge, high energy density, and high discharge power helped in meeting the OEM standards of EVs, which is expected to drive the market. For instance, in January 2022, the South African government established the uYilo jumpstart fund to promote innovations in EVs. The USD 55,000 fund for EV projects was part of the country's National uYilo e-mobility program, which began in 2013. The South African government plans to establish a local value chain for lithium battery manufacturing, particularly for the EV sector.

 

Concerns Regarding Battery Safety in Africa

Improper battery management presents significant risks to both human health and the environment. An ongoing issue involves the incorrect disposal of used batteries, leading to their buildup in landfills. Over time, these batteries break down, releasing harmful substances that seep into the soil and adversely affect surface water and groundwater, disrupting aquatic ecosystems. Elements like mercury, cadmium, lithium, and lead found in these batteries exacerbate this ecological imbalance, underscoring the urgency for proper battery disposal practices. Consequently, these concerns are anticipated to impede the progression of the battery market.

Introduction of Nano-Diamond Batteries (NDB) in Multiple Industries

The growing adoption of Nuclear Diamond Batteries (NDBs) across various sectors including automotive, aerospace, and electronics is positioned to create fresh avenues in Africa's battery market. NDBs represent a groundbreaking leap in energy generation and storage, fundamentally reshaping conventional battery concepts. These batteries showcase remarkable endurance by harnessing the energy derived from the radioactive decay of nuclear waste.

The trajectory of Africa's battery market is being shaped by the compelling attributes of NDBs, which encompass their compact form, adaptability, cost-efficiency, and scalability across a wide array of applications, ranging from compact chipsets to expansive industrial setups. Functioning as advanced diamond-based alpha, beta, and neutron voltaic batteries, NDBs offer a consistent source of clean energy for a diverse spectrum of applications, surpassing the performance of traditional chemical batteries.

 

Competitive Landscape

The Africa battery industry includes several market players such as LG Chem Ltd., CATL, Samsung SDI Co. Ltd., BYD, SKI, ENVISION AESC GROUP LTD., Gotion High tech Co Ltd, Primearth EV Energy Co., Ltd., China Aviation Lithium Battery Co., Ltd., Panasonic Corporation.

Key Benefits

  • The Africa battery market report provides a quantitative analysis of the current market and estimations through 2023-2030 that assists in identifying the prevailing market opportunities to capitalize on.

  • The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.

  • The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.

  • The competitive analysis of the market players along with their market share in the Africa battery market.

  • The SWOT analysis and Porter’s Five Forces model are elaborated in the study.

  • Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Africa Battery Market Key Segments

By Type

  • Lead Acid

    • Stationary

    • Motive

  • Lithium Ion

    • Lithium Nickel Manganese Cobalt (LI-NMC)

    • Lithium Iron Phosphate (LFP)

    • Lithium Cobalt Oxide (LCO)

    • Lithium Titanate Oxide (LTO)

    • Lithium Manganese Oxide (LMO)

    • Lithium Nickel Cobalt Aluminum Oxide (NCA)

  • Nickel Metal Hydride

  • Nickel Cadmium

  • Others

By Application

  • Residential

  • Industrial

    • Manufacturing & Construction

    • Automotive

    • Medical

    • Telecom & IT

    • Consumer Electronics

    • Power & Utility

    • Aerospace

    • Marine

    • Others

  • Commercial

By Power Systems

  • Fuel Cell batteries

  • Proton-Exchange Membrane Fuel Cells

  • Alkaline Fuel Cells

  • Phosphoric Acid Fuel Cells

  • Solid Oxide Fuel Cells

  • Molten Carbonate Fuel Cells

  • Air Cells

  • Flywheel Energy Storage

  • Nuclear Batteries

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2022

USD 1.01 billion

Revenue Forecast in 2030

USD 4.35 billion

Growth Rate

CAGR of 19.9% from 2023 to 2030

Analysis Period

2022–2030

Base Year Considered

2022

Forecast Period

2023–2030

Market Size Estimation

Billion (USD)

Growth Factors

The growing government incentives 

The adoption of hybrid vehicles

Companies Profiled

10

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

Key Players

  • LG Chem Ltd.

  • CATL

  • Samsung SDI Co. Ltd.

  • BYD

  • SKI

  • ENVISION AESC GROUP LTD.

  • Gotion High tech Co Ltd

  • Primearth EV Energy Co., Ltd.

  • China Aviation Lithium Battery Co., Ltd.

  • Panasonic Corporation

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Frequently Asked Questions

According to the report published by the Next Move Consulting, the Africa battery market business is expected to hit at $4.35 billion (USD) by 2030.

The Africa battery industry includes several market players such as LG Chem Ltd., CATL, Samsung SDI Co. Ltd., BYD, SKI, ENVISION AESC GROUP LTD., Gotion High tech Co Ltd, Primearth EV Energy Co., Ltd., China Aviation Lithium Battery Co., Ltd., Panasonic Corporation.

The Africa battery market share is segmented on the basis of type, application, and power systems.

The factors contributing to the expansion of the Africa battery market are heightened electric vehicles (EVs) and energy storage, government policies and incentives, supply chain developments, and enhanced technological collaboration.

The factors restraining the growth of the Africa battery market are safety issues and recycling complexity.

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