Batteries are versatile energy storage devices with various applications. Power portable electronics, such as smartphones and laptops, offer portability and convenience. In electric vehicles (EVs), batteries enable emissions-free transportation. Grid-scale batteries store renewable energy for on-demand use, enhancing grid stability. Features of the battery include energy density, capacity, and recharge ability. Batteries also serve in backup power systems, ensuring continuity during outages. In remote areas, they provide off-grid energy, and in aerospace, the power spacecraft. Their role in sustainable energy storage and diverse applications makes batteries indispensable in modern life.
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Data Bridge Market Research analyses that the Ethiopia Battery Market is valued at USD 52.99 million in 2022 and is expected to reach USD 84.46 million by 2030, registering a CAGR of 6.00% during the forecast period of 2023 to 2030. The growing popularity of electric vehicles (EVs) is a pivotal factor propelling demand for cutting-edge lithium-ion and solid-state batteries. These batteries provide the energy storage required to power EVs, making them integral to the transition to cleaner transportation options, reducing emissions, and advancing sustainable mobility solutions.
Key Findings of the Study
Climate change initiatives are expected to drive the market's growth rate
Heightened environmental awareness and the urgent need to combat climate change are driving the demand for cleaner and more sustainable energy solutions. Batteries play a pivotal role in this transition by enabling the efficient storage of renewable energy, reducing reliance on fossil fuels, and cutting greenhouse gas emissions. Facilitating the integration of renewable sources such as solar and wind into the grid and supporting the electrification of transportation, batteries are a crucial component in mitigating climate change and fostering a greener, more sustainable future.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Battery Type (Lead-Acid Battery, Lithium-Ion Battery, Nickel-cadmium Battery, Nickel Metal Hydride Battery, Nickel-Zinc Battery, Flow Battery, Sodium-sulfur Battery, Zinc-manganese Dioxide Battery, Small Sealed Lead--acid Battery, Other Batteries), Type (Secondary and Primary), Sales Channel (Direct and Indirect), Voltage Range (Less than 50 Volt, 51 Volt to 100 Volt and More than 100 Volt), Components (Anode, Cathode, Separator and Outer Body/Container), Application (Automotive, Commercial, Mobile Phones, Electronic Devices, Industrial and Others)
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Market Players Covered
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Banner (Austria), DYNAVOLT Power (China), Tianneng rechargeable battery manufacturers (China), leoch International Technology Limited Inc, (China) Manbat Ltd T/A SYBS (U.S.), ENERSYS. (U.S.), Chaowei Power Holdings Ltd (China), KOYO BATTERY CO., LTD (China), Robert Bosch GmbH (Germany), GS Yuasa International Ltd (Japan)., EXIDE INDUSTRIES LTD (India), Battery Tender (U.S.), Camel Group Co., Ltd (China), Reem Batteries & Power Appliances Co. SAOC (Dubai), Saft (France), C&D TECHNOLOGIES, INC. (U.S.), Panasonic Corporation (Japan)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Ethiopia battery market is segmented on the basis of battery type, type, sales channel, voltage range, components, and application.
- On the basis of battery type, the battery market is segmented into lead-acid battery, lithium-ion battery, nickel-cadmium battery, nickel metal hydride battery, nickel-zinc battery, flow battery, sodium-sulfur battery, zinc-manganese dioxide battery, small sealed lead-acid battery, and other batteries.
- On the basis of type, the battery market is segmented into secondary and primary.
- On the basis of sales channel, the battery market is segmented into direct and indirect.
- On the basis of voltage range, the battery market is segmented into less than 50 volt, 51 volt to 100 volt, and more than 100 volt.
- On the basis of components, the battery market is segmented into anode, cathode, separator, and outer body/container.
- On the basis of application, the battery market is segmented into automotive, commercial, mobile phones, electronic devices, industrial, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major Ethiopia battery market players in Ethiopia battery market are Banner (Austria), DYNAVOLT Power (China), Tianneng rechargeable battery manufacturers (China), leoch International Technology Limited Inc, (China) Manbat Ltd T/A SYBS (U.S.), ENERSYS. (U.S.)
Market Developments
- In June 2020, Amara Raja Batteries Ltd. announced a collaboration with Gridtential Energy to develop bipolar battery technology. Under this partnership, extensive testing will leverage Amara Raja's active materials expertise, with a focus on enhancing battery longevity, energy density, efficiency, charging speed, and manufacturability. This strategic alliance is poised to bolster the company's market presence and expand its market share in the battery industry.
- In June 2023, Agratas Energy Storage Solutions Private Limited, a subsidiary of the Tata Group, has inked a deal with the Gujarat government to establish India's inaugural gigafactory dedicated to Lithium-Ion batteries within the state. In its initial phase, the company will commit an investment of approximately USD 1,574.56 million for the construction of a 20 gigawatt (GW) facility.
- In December 2022, Amara Raja Batteries Limited (ARBL) unveiled its intention to invest more than USD 1,148.89 million over the span of ten years. This investment will be directed towards establishing a research and development facility along with a Greenfield manufacturing plant for the production of lithium-ion batteries. These facilities will be located in Telangana's Mahbubnagar district.
- In June 2022, Scientists at IIT Madras are pioneering a novel battery technology aimed at electric vehicles. They are actively working on the advancement of mechanically rechargeable zinc-air batteries as an alternative to the currently prevalent lithium-ion batteries in use for EVs.
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