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Saudi Arabia Automotive Lead Acid Battery Market By Vehicle Type, By Product Type and Forecast 2027
29-Sep-2022 | Navi Mumbai | News-Press Release
Market Reports on Saudi Arabia Provides the Trending Market Research Report on "Saudi Arabia Automotive Lead Acid Battery Market, By Vehicle Type (Passenger Car, LCV, M&HCV and OTR), By Type (Starter Battery, EV Battery), By Battery Capacity (Less than 50 Ah, 51-75 Ah, Above 75 Ah), By Product Type (Dry Charge, Maintenance Free, and Others), By Region, Competition Forecast & Opportunities, 2017- 2027F" under Automotive Market Research Reports category. The Automotive Lead Acid Battery Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Automotive Lead Acid Battery Market registered around USD280.80 million in 2021 and is estimated to reach USD437.94 million in 2027, advancing with a CAGR of 8.09%. Rapidly increasing fleet of four-wheelers and escalating fleet size across the country to drive the Saudi Arabia automotive lead acid battery market in the upcoming years.
In an automobile, lead acid batteries are the most used. Lead acid batteries, compared to other battery types, have a finite lifetime and low cost despite having a low energy density, modest efficiency, and high maintenance needs. Lead acid batteries are the most widely utilized type of battery for most rechargeable battery applications (for example, in starting car engines). Lead acid batteries are produced in three main configurations, and any type can be developed and constructed for either starting or deep cycle uses. Flooded acid, gelled acid, and Advanced AGM are illustrations of these types (Absorbed Glass Mat).
When the COVID-19 began to cause lockdowns across the globe, there was a substantial slowdown in sales of batteries. The COVID-19 pandemic adversely impacted the economic condition of Saudi Arabia, and as expected, the full effect of COVID-19 became more evident in the second quarter of 2020. In 2020, due to the effect of COVID-19, the automotive sector witnessed a massive decline in the lead acid battery sales. The lockdown and restriction affected the sales of a passenger car that witnessed a decline of 15.80%, while the battery used in the passenger car also faced a decline in sales. The government of Saudi Arabia imposed the lockdown in many phases in the country to control the spread of COVID-19. As a result, the import and export of lead acid batteries was paused for a certain period in Saudi Arabia.
Functional and Operational Advantages
Due to their resistance to stress and overcharging, lead acid batteries are among the most dependable batteries. These batteries' sealing technique guarantees that they are leak-proof. Additionally, compared to other battery types, these batteries have longer functional cycles. Thus, during the forecast period, the expansion of the automotive lead acid battery market is anticipated to be aided by the functional and operational advantages supplied by lead acid batteries.
Rising Demand for Passenger Cars
Passenger cars are in high demand right now due to factors like rising disposable income, more accessible mid-sized models that are still accessible, and evolving mobility needs. Particularly in the Middle East regions, in the country like Saudi Arabia there seems to be a significant demand for passenger cars which tends to grow the passenger car fleet size correspondingly increasing the demand for replacement batteries. Although there is a market for lead acid batteries, the majority of the demand is met by passenger cars with IC engines.
Easily Recyclable Compared to Lithium-ion Battery
Modern lead acid batteries can be broken down more easily than traditional battery storage options. To handle the old battery acid, which is typically sulfuric acid, there are two methods. First, the acid is neutralized using an industrial chemical product resembling baking soda. Acid is transformed into the water through neutralization. The water is then cleaned, treated, and tested at a wastewater treatment facility to make sure it satisfies standards for clean water. Second, by processing, the acid is changed into sodium sulphate, a distinct chemical compound. The glass and textile industries utilize this odorless, white powder to make laundry detergent. In a closed-loop system, the E component of lead acid batteries is recycled. Even though they are closed loop recycled, every part of the old battery is disassembled and used to make a new lead acid battery. According to Saudi government statistics, 98 percent of all lead acid batteries in use today are treated and recycled.
Penetration of Chinese Players
Because the Saudi Arabian automobile lead acid battery industry is entirely dependent on imports, all battery manufacturers have an equal chance of generating revenue from the country's expanding battery demand. Due to a lack of battery manufacturing facilities and a rise in consumer demand for affordable batteries, Chinese batteries are becoming more and more common in Saudi Arabia. Another important factor influencing the growing demand for Chinese batteries is the high product outreach and ease of availability in the Saudi Arabia automotive lead acid battery market. The low cost of Chinese batteries is the principal determinant of this competition. Offerings from premium battery manufacturers fall short of Chinese battery brand costs. Companies offering premium battery brands are unable to bring advanced battery technologies into the country due to high cost and this paves way for low-cost Chinese batteries in the country.
The Saudi Arabia Automotive lead acid battery market is segmented based on vehicle type, type, battery capacity, product type, region and company. On the basis of vehicle type the market is segmented into passenger cars, LCV, M&HCV and OTR. On the basis of type, the market is further fragmented into starter battery and EV battery. Based on the product type, the market is further segmented into dry charge battery, maintenance free, and others. Based on the battery capacity, the market is further segmented into Less than 50 Ah, 51-75 Ah, above 75 Ah.
The key players in the market include GS Yuasa International Ltd., Hankook & Company Co., Ltd., Exide Industries Ltd, Robert Bosch Gmbh, Varta AG Group, Amara Raja Batteries Limited, Leoch International Technology Limited Inc, CSB Energy Technology Co., Ltd., Middle East Battery Company, PT. Nipress, Tbkl. These players are spending in innovations to bring out a sound return on their investment. Additionally, advance strategic moves, such as mergers collaborations and, also benefit key players raising their customer base and expansion of their sales and distribution networks in the Saudi Arabia automotive lead acid battery market.
In this report, Saudi Arabia automotive lead acid battery market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
•Saudi Arabia Automotive Lead Acid Battery Market, By Vehicle Type:
•Saudi Arabia Automotive Lead Acid Battery Market, By Type:
•Saudi Arabia Automotive Lead Acid Battery Market, By Battery Capacity:
Above 75 Ah
Less than 50 Ah
•Saudi Arabia Automotive Lead Acid Battery Market, By Product Type:
•Saudi Arabia Automotive Lead Acid Battery Market, By Region:
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