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Wednesday, 05 October 2022 03:03 GMT

East Africa Battery Market Size Future Scope, Opportunities With Strategic Growth And Top Players 2022-2031

(MENAFN- America News Hour)

The East Africa battery market is expected to rise at a CAGR of more than 4.5% during the forecast period. Factors such as increasing adoption to renewable energy by the countries in the region and rapidly growing telecom sector are likely going to drive the East Africa battery market. However, low domestic and foreign investment is expected to restrain the East Africa market during the forecast period.
– The lithium-ion battery segment, due to the significant reduction in the manufacturing and retail cost, has become more accessible to the people ineveryday use, such as in mobile phones and other electronic devices, and is likely going to be the fastest-growing segment in the East Africa battery market.
– The increasing involvement of the countries, such as Uganda and Rwanda, towards its renewable and both of them successfully completing their first pilot projects on electric vehicles (EV), are likely going to create several opportunities for the East Africa battery market in the future.
– Because of its increasing solar and wind energy installation and upcoming projects to generate clean energy, Ethiopia is expected to be the fastest-growing market for the East Africa battery during the forecast period.

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Key Market Trends
Lithium-ion Battery Segment is Expected to be the Fastest Growing Market

– Lithium-ion batteries are a rechargeable type of battery that is commonly used in electronic devices and energy vehicles. These batteries also being used for the storage of energy from renewable energy sources such as solar and wind.
– The energy densities of these batteries are quite high and have a round trip efficiency of 85% to 95%, which means the ratio of energy output/released to energy input/stored. The lithium-ion battery is a low maintenance battery, and the cells of the battery cause little harm to the environment when disposed of.
– Moreover, the governments of the region's countries are promoting and continually supporting any foreign or local investments for electric vehicles (EV) in their countries. Many countries such as Uganda, Kenya, and Rwanda in the region see the electric car as a long-term solution for increasing carbon footprint in the region
– In 2018, Kiira Motors, a Uganda car manufacturer, announced to build a facility for mass production of electric cars in the country. Due to some technical problems, the project was postponed. Moreover, the company completed the production of two electric buses in 2019 and had a successful pilot project. The company is expecting to build an electric bus production facility in the country by 2021.These developments in the electric vehicle sector are likely going to have a positive impact on the lithium-ion battery segment, as most of the electric vehicles use it to generate power.
– In 2019, Volkswagen, a German automobile major, launched a pilot project with Siemens to test the feasibility of electric mobility in Rwanda. During the pilot phase, four e-Golfs and one charging station were introduced in the capital of Rwanda, Kigali. Rwanda became the first African country to introduce a Volkswagen electric car with the launch of the pilot project, which is likely to boost the lithium-ion battery segment.
– Hence, owing to the above points, the lithium-ion segment is likely going to be the fastest-growing segment in the East Africa battery market during the forecast period.
Ethiopia Expected to see Significant Market Growth
– Ethiopia is the second-largest economy of Eastern Africa and has been continually seeking investments from other countries across the globe for the development of renewable energy manufacturing facilities. More renewable energy in the country is expected to open doors to the market for the battery storage systems.
– Ethiopian government previously had a monopoly on telecom services, including mobile, internet, and data communications. For many years Ethiopia's monopolistic control degraded the innovation, restricted network expansion, and limited the scope of services. In June 2019, the government of Ethiopia approved legislation to open the market to competition and provide much needed foreign investment. This announcement by the government is likely going to boost-up mobile battery market in the country
– In 2019, Ethiopia's total installed solar capacity was 4450 megawatts (MW), compared to 2619 megawatts (MW) in 2015, which is a massive leap for the country. Moreover, the government planned to increase solar installation in the future rapidly. This is likely going to drive the battery market as batteries can be used to store extra power generated from renewable.
– In 2019, ACWA Power, a leading international developer of power generation, was awarded two solar photovoltaic projects by the Public-Private Partnership Directorate of the Ethiopian Ministry of Finance. The two projects awarded are going tohave a total installed capacity of 250 megawatts (MW), 125 MW each. The new plants are expected to be located in Dicheto, the Afar region, and Gad, in the Somali area.
– In 2019, Ethiopia's state-owned utility, the Ethiopian Electric Utility (EEU), issued a tender to seek developers to deploy solar mini grids in 25 villages and towns, with the projects financed by the African Development Bank. The tender issued has a total solar installed capacity of 800 megawatts (MW). The project is set to provide solar panels, battery storage systems, and diesel generator to each of the villages and towns.
– Hence, owing to the above points, Ethiopia is expected to be the fastest-growing market for the East Africa battery during the forecast period.

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Competitive Landscape
The East Africa battery market is moderately fragmented. Some of the key players in this market Toshiba Corp, Murata Manufacturing Co., Ltd., Exide Industries Ltd, Panasonic Corporation, and Duracell Inc.

1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Consumers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry


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