Saudi Arabia Electric Vehicle Battery Market Introduction and Overview
According to SPER Market Research, the Saudi Arabia Electric Vehicle Battery Market is estimated to reach USD XX million by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the Saudi Arabia Electric Vehicle Battery Market, including market size and trends, product mix, distribution channels, and supplier analysis. An electric vehicle battery (EVB, also called a traction battery) is a rechargeable battery used to power the electric motors in a battery electric vehicle (BEV) or hybrid electric vehicle (HEV).They are made especially for high electric charge (or energy) capacity lithium-ion batteries. Electric vehicles would not be feasible without batteries. Customers have recently shown a greater preference for battery-electric and plug-in cars because they require less maintenance and don't require fuel like gasoline, diesel, or other liquids.
- The Australian company Avass Group recently revealed that it has signed an agreement with Saudi Arabia to jointly produce electric vehicles and lithium batteries. The agreement bolsters Avass Group's plans to manufacture large-scale lithium batteries and fully electric buses in Saudi Arabia.
- The alliance arose from consideration of the strategic advantage Saudi Arabia possesses due to its central location between Asia and Europe. Given the current development patterns of the electric vehicle sector and the growing consumer awareness of environmental protection, Avass Group is targeting a significant portion of the global electric vehicle market.
Market Opportunities and Challenges
Opportunities: Saudi Arabia has demonstrated a resolute commitment to lessening its reliance on oil and diversifying its economy. The promotion of sustainability and environmental responsibility, which includes the switch to electric mobility, is one of the most important tactics for accomplishing this goal. To expand the eCV market, the government has launched a number of programs and policies, including: Plans for localization and Saudization—a method of lowering unemployment—are part of Saudi Vision 2030. It is anticipated that this policy will promote domestic eCV assembly and manufacturing, resulting in job creation and lower import expenses. The kingdom is pushing renewable energy sources hard. Cleaner energy sources are being pushed as part of the Saudi Green Initiative and the Middle East Green Initiative, and this is directly tied to the uptake of electric vehicles. To promote the adoption of electric cars, the Saudi government provides a range of incentives, including lower taxes, favourable financing options, and subsidies for the purchase of electric vehicles. The adoption and local production of electric commercial vehicles are made possible by these government initiatives.
Challenges: The absence of a reliable charging infrastructure is one of the biggest obstacles facing the Saudi Arabian e-cigarette market. Among the main problems are: There are still not enough charging stations, particularly in rural and underdeveloped areas. The development of a dependable and comprehensive charging network is critical to the growth of the e-car industry. Adoption of eCVs depends on fast-charging infrastructure, particularly for commercial vehicles that must reduce downtime. High-speed charging station deployment is still an ongoing project. It can be difficult to guarantee that charging stations are compatible with various eCV models because there are many different kinds of vehicles and charging standards available on the market.
Market Competitive Landscape
Saudi Arabia Electric Vehicle Battery Market is highly consolidated. The major players in the market are Avass Group, CATL, Electromin, EV Metals, General Motors, Johnson Matthey, POSCO Chemical, Stellantis, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Battery type, By Vehicle type, By Propulsion type
|
| Regions covered | Eastern Region, Western Region, Southern Region, Northern Region
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| Companies Covered | Avass Group, CATL, Electromin, EV Metals, General Motors, Johnson Matthey, POSCO Chemical, Stellantis, Others
|
COVID-19 Impact on Saudi Arabia Electric Vehicle Battery Market
During the COVID-19 pandemic, Saudi Arabia's market for electric vehicle (EV) batteries remained resilient and there was a persistent demand for electric mobility. Electric vehicles are powered by EV batteries. The market for EV batteries is anticipated to grow as governments encourage sustainable transportation and consumer adoption of electric vehicles continues to rise after the pandemic. The pandemic brought attention to the move toward greener and cleaner modes of transportation.
Key Target Audience:
- Automobile Manufacturers
- Battery Manufacturers
- Charging Infrastructure Providers
- Government and Policymakers
- Investors and Financiers
- Research and Development Organizations
- Utilities and Energy Companies
Our in-depth analysis of the Saudi Arabia Electric Vehicle Battery Market includes the following segments:
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By Battery type: |
Lead Acid Battery
Lithium Ion Battery
Nickel Metal Hydride Battery
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|
By Vehicle type: |
Commercial Vehicle
Passenger Vehicle
|
|
By Propulsion type: |
Battery Electric Vehicle
Plug-in Hybrid Vehicle
Fuel cell Electric Vehicle
|
Key Topics Covered in the Report:
- Saudi Arabia Electric Vehicle Battery Market Size (FY’2023-FY’2033)
- Overview of Saudi Arabia Electric Vehicle Battery Market
- Segmentation of Saudi Arabia Electric Vehicle Battery Market By Battery type (Lead Acid Battery, Lithium Ion Battery, Nickel Hydride Market)
- Segmentation of Saudi Arabia Electric Vehicle Battery Market By Vehicle type (Commercial Vehicle, Passenger Vehicle)
- Segmentation of Saudi Arabia Electric Vehicle Battery Market By Propulsion type (Battery Electric Vehicle, Plug-in Hybrid Vehicle, Fuel Cell Electric Vehicle)
- Statistical Snap of Saudi Arabia Electric Vehicle Battery Market
- Expansion Analysis of Saudi Arabia Electric Vehicle Battery Market
- Problems and Obstacles in Saudi Arabia Electric Vehicle Battery Market
- Competitive Landscape in the Saudi Arabia Electric Vehicle Battery Market
- Impact of COVID-19 and Demonetization on Saudi Arabia Electric Vehicle Battery Market
- Details on Current Investment in Saudi Arabia Electric Vehicle Battery Market
- Competitive Analysis of Saudi Arabia Electric Vehicle Battery Market
- Prominent Players in the Saudi Arabia Electric Vehicle Battery Market
- SWOT Analysis of Saudi Arabia Electric Vehicle Battery Market
- Saudi Arabia Electric Vehicle Battery Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Saudi Arabia Electric Vehicle Battery Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Saudi Arabia Electric Vehicle Battery Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Electric Vehicle Battery Market
7. Saudi Arabia Electric Vehicle Battery Market, By Battery type (USD Million)
7.1. Saudi Arabia Electric Vehicle Battery Market Value Share and Forecast, By Battery type, 2023-2033
7.2. Lead Acid Battery
7.3. Lithium Ion Battery
7.4. Nickel Metal Hydride Battery
8. Saudi Arabia Electric Vehicle Battery Market, By Vehicle type (USD Million)
8.1. Saudi Arabia Electric Vehicle Battery Market Value Share and Forecast, By Vehicle type, 2023-2033
8.2. Commercial Vehicle
8.3. Passenger Vehicle
9. Saudi Arabia Electric Vehicle Battery Market, By Propulsion type (USD Million)
9.1. Saudi Arabia Electric Vehicle Battery Market Value Share and Forecast, By Propulsion type, 2023-2033
9.2. Battery Electric Vehicle
9.3. Plug-in Hybrid Vehicle
9.4. Fuel cell Electric Vehicle
10. Saudi Arabia Electric Vehicle Battery Market Forecast, 2019-2033 (USD Million)
10.1. Saudi Arabia Electric Vehicle Battery Market Size and Market Share
11. Saudi Arabia Electric Vehicle Battery Market, By Battery type, 2019-2033 (USD Million)
11.1. Saudi Arabia Electric Vehicle Battery Market Size and Market Share By Battery type (2019-2026)
11.2. Saudi Arabia Electric Vehicle Battery Market Size and Market Share By Battery type (2027-2033)
12. Saudi Arabia Electric Vehicle Battery Market, By Propulsion type, 2019-2033 (USD Million)
12.1. Saudi Arabia Electric Vehicle Battery Market Size and Market Share By Propulsion type (2019-2026)
12.2. Saudi Arabia Electric Vehicle Battery Market Size and Market Share By Propulsion type (2027-2033)
13. Saudi Arabia Electric Vehicle Battery Market, By Vehicle type, 2019-2033 (USD Million)
13.1. Saudi Arabia Electric Vehicle Battery Market Size and Market Share By Vehicle type (2019-2026)
13.2. Saudi Arabia Electric Vehicle Battery Market Size and Market Share By Vehicle type (2027-2033)
14. Saudi Arabia Electric Vehicle Battery Market, By Region, 2019-2033 (USD Million)
14.1. Saudi Arabia Electric Vehicle Battery Market Size and Market Share By Region (2019-2026)
14.2. Saudi Arabia Electric Vehicle Battery Market Size and Market Share By Region (2027-2033)
14.3. Eastern Region
14.4. Western Region
14.5. Northern Region
14.6. Southern Region
15. Company Profile
15.1. Avass Group
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. CATL
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Electromin
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. EV Metals
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. General Motors
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Johnson Matthey
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. POSCO Chemical
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Stellantis
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
