GCC Automotive Lead-Acid Battery Market Overview:
The GCC automotive lead-acid battery market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Automotive lead acid batteries are rechargeable batteries used to generate power for electric vehicles (EVs). They comprise various chemical compounds, such as lead oxide, metallic lead, lead sulfate, and sulfuric acid, along with numerous doping agents. They are enclosed in a sturdy case to make them leakproof, damage-proof, and tolerant to temperature changes. They are cost-efficient, durable and unaffected by overcharging and incur minimum maintenance costs. Automotive lead acid batteries assist the engine of vehicles by supplying power to the starter and ignition system. They also act as voltage stabilizers by managing the voltage and preventing components of the electrical system of the vehicle. These batteries are eco-friendly as they can be recycled and help reduce carbon footprints. As they are reliable and energy-efficient, automotive lead acid batteries are widely utilized in the aerospace, transportation, e-commerce, hospitality, and oil and gas industries across the GCC region.
At present, the escalating demand for electric vehicles (EVs), such as electric cars and motorcycles, due to the rising environmental awareness among the masses represents one of the key factors driving the market in the GCC region. Besides this, governing agencies operating in the region are encouraging people to use EVs and consequently minimize the negative impact of automobile exhaust on the environment, which is propelling the growth of the market. In addition, the increasing number of personal cars and motorbikes on account of the minimum availability of public transportation in the GCC region is contributing to the growth of the market. Apart from this, the growing number of distribution channels and online businesses selling premium quality automotive lead acid batteries is positively influencing the market across the region. Furthermore, key market players operating in the region are extensively investing in research and development (R&D) activities to enhance the productivity and charging capabilities of these batteries.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC automotive lead-acid battery market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC automotive lead-acid battery market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC automotive lead-acid battery market in detail for latest trends, outlook and opportunities.
The report analyses the competitive structure of the GCC automotive lead-acid battery market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC automotive lead-acid battery market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC automotive lead-acid battery market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC automotive lead-acid battery market industry. Furthermore, the value chain analysis of the GCC automotive lead-acid battery market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.
GCC Automotive Lead-Acid Battery Market Segment Insights:
The GCC automotive lead-acid battery market has been analysed as followed:
By Vehicle Type:
By Customer Segment
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Highlights of the GCC Automotive Lead-Acid Battery Market Report:
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