Saudi Arabia Automotive Battery Market to be Led by Passenger Car Segment
Rising vehicles fleet has led the demand
of battery in the aftermarket, which is driving the Saudi Arabia Automotive
Battery Market.
According to the TechSci
Research report, "Saudi Arabia Automotive Battery Market-By Region
Competition Forecast and Opportunities, 2018-2028F", the Saudi Arabia Automotive
Battery Market is anticipated to grow at a decent rate in the coming year. The
demand for automotive vehicle battery keeps growing in the country as the number
of passenger cars, two-wheeler, and light commercial vehicles increased in the
past few years. Due to increase in vehicles, the demand for battery in the
aftermarket is increased. Nowadays, most of the features in the vehicle depend
on vehicles’ battery, such as starting of the engine, headlight, AC , etc. all
these features are depended on the vehicle’s battery. In Saudi Arabia the
government is in plan to make 30% of the vehicle to be electric by the end of
the year 2027. Initially In Saudi Arabia the sales of electric vehicles are at
the lower number but with increasing concern for environment and additional
benefits of electric vehicles is going to increase the sales of electric
vehicle in coming years. In electric vehicle battery is one of the main
components as most of the function of electric vehicles is depended on the
battery. Most of electric vehicles have lithium battery fixed at the
manufacturing time. High energy-to-weight ratios, high open circuit voltage,
low self-discharge rate, no memory effect, and a gradual loss of charge when
not in use are all characteristics of lithium-ion batteries. As a result, it is
anticipated that the lithium-ion batteries market will continue to dominate in
the Saudi Arabia automotive battery market.
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One
of the main functions of a battery is the starting in any vehicle, which uses
electricity from the battery to power the ignition system to start the vehicles.
Since batteries are created using lead-acid technology and the two most popular
batteries for automobiles are "Standard Wet Cell" and "Absorbed
Glass Mat" (AGM) batteries. Additionally, vehicle's batteries wear out
very quickly due to the hot desert climate of Saudi Arabia, which has
exceptionally high temperatures throughout most of the region. Due to high
temperatures, the rate of fuel loss from the battery gets accelerated, which
causes damage to the battery's internal structure, which positively affects the
aftermarket demand for batteries in Saudi Arabia.
By this the demand for vehicles battery
in the aftermarket gets increase and vehicle owner needs to change their
battery at a certain period. So, in the upcoming year, the Saudi Arabia
Automotive battery industry will rise.
The battery provides electricity to the electrical
system that powers the electric power steering. The need for batteries in the
OEM market will rise over time, including in Saudi Arabia, when all automakers
roll out electric power steering systems in their vehicles.
Some of the major players
operating in the Saudi Arabia Automotive Battery Market include:
- Middle
East Battery Company
- Exide
Industries Ltd
- Hankook
& Company Co., Ltd.
- PT
Nipress, Tbk
- Varta
AG Group
- CSB
Energy technology Co. Ltd
- Leoch
International Technology Limited Inc
- GS
Yuasa International Ltd
- Robert
Bosch Gmbh
- Amara
Raja Batteries Limited
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“Many companies are
investing in the research and development department, for the innovation and
improvement of battery. The investment will help in research and development of
the battery for the better battery performance in the vehicles and it will give
better driving experience to the owner. The investment by the major battery manufacturing
companies will help to make battery easily available for the buyers in the Saudi
Arabia market. Which will further help in driving the Saudi Arabia Automotive
Battery Market in the coming year. "Said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Saudi Arabia Automotive
Battery Market By Type (Starter Battery, EV Battery), By Vehicle Type
(Passenger Car, LCV), By Battery Type (Lead Acid, Lithium Ion, Others), By
Battery Capacity (Less than 50 Ah, 51-75 Ah, Above 75 Ah) By
Region,
Forecast & Competition, Opportunities, 2018- 2028
has
evaluated the future growth potential of Saudi Arabia Automotive Battery Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Saudi Arabia Automotive Battery Market.
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