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DUBLIN--(BUSINESS WIRE)--Oct 5, 2022--
The "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, By Product Type, By Region, Competition Forecast & Opportunities, 2017- 2027F" report has been added to ResearchAndMarkets.com's offering.
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.
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.
Report Scope:
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:
Saudi Arabia Automotive Lead Acid Battery Market, By Product Type:
Saudi Arabia Automotive Lead Acid Battery Market, By Region:
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Saudi Arabia Automotive Lead Acid Battery Market
5. Voice of Customer
6. Saudi Arabia Automotive Lead Acid Battery Market Outlook, 2017-2027F
7. Saudi Arabia Passenger Car Lead Acid Battery Market Outlook
8. Saudi Arabia LCV Lead Acid Battery Market Outlook
9. Saudi Arabia M&HCV Lead Acid Battery Market Outlook
10. Saudi Arabia OTR Lead Acid Battery Market Outlook
11. Market Dynamics
12. Market Trends and Developments
13. Policy & Regulatory Landscape
14. Saudi Arabia Economic Profile
15. Competitive Landscape
16. Strategic Recommendations
17. About the Publisher & Disclaimer
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/llca01.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221005005881/en/
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KEYWORD: MIDDLE EAST SAUDI ARABIA
INDUSTRY KEYWORD: MANUFACTURING OTHER AUTOMOTIVE AUTOMOTIVE EV/ELECTRIC VEHICLES CHEMICALS/PLASTICS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/05/2022 05:19 PM/DISC: 10/05/2022 05:19 PM
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