This opportunity entails developing the value chain for the production of batteries for industry to serve KSA and the broader GCC region.
The overall demand for batteries in Saudi Arabia has been growing, estimated at USD 276 million in 2018. Driven by demand growth from utilities, oil and gas and other manufacturing industries, demand is forecasted to increase at an annual growth rate of 5% to reach USD 336 million by 2022. In 2018, demand for batteries for industrial applications is 40% for lead acid and the remaining for other types. The split is expected to remain relatively the same till 2022.
Beyond the KSA market, investors in Saudi have the opportunity to tap into the large regional market in the GCC with expected increase in demand from USD 512 million in 2018 to USD 622 million by 2022. KSA market is expected to be ~35% of the overall GCC demand for batteries for industrial applications.
The focus of this opportunity is mainly on components and final manufacturing of batteries, with a focus on lead acid batteries and on Ni Cd and Li based batteries.
However, there are additional opportunities across the battery manufacturing value chain. Opportunities include:
- Design: establish design facilities to customize industrial batteries to customer needs and specifications
- Input materials: manufacture lead, copper, synthetic rubber, polymers to meet the specifications needed for components
- After-sales: establish facilities to test and maintain acid filling, battery acceptance, specific gravity, terminal corrosion, connection resistance, battery voltage, cleaning terminals
contact our Manufacturing Of Batteries For Industrial Applications Expert
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