Battery Market Size in Western Africa to Grow by USD 7.72 Million | By Application (stationary and mobile) and Geography | Growth, Trends, and Forecasts (2022-2026)

• In-Scope:
• Stationary:

The battery market share growth in Western Africa by the stationary segment will be significant during the forecast period. The high demand for stationary batteries for industrial and telecom applications owing to the need for power storage and an uninterrupted electricity supply will drive the growth of the segment in the coming years.

• Out-of-Scope:
• Mobile

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Moreover, the report also provides Value Chain Analysis which helps companies gain a competitive advantage in the market. The Value Chain of the Battery Market in Western Africa includes the following core components:

• Inputs
• Operations
• Distribution and logistics
• Marketing and sales
• Aftermarket and service
• Innovation

Highlights-

• Segmentation- The report extensively covers market segmentation by Application (stationary and mobile) and Geography (Nigeria, Ghana, and Rest of Western Africa)
• Key Companies- EnerSys, Exide Industries Ltd., Forgo Battery Co Ltd., Franerix Solutions Ltd., GS Yuasa Corp., Johnson Controls International Plc, Panasonic Corp., Robert Bosch GmbH, The Ibeto Group, and Toshiba Corp. among others
• Driver- Shift of the automotive industry toward EV to drive the market
• Challenge- Declining cost of lithium-ion batteries to hamper the market growth 

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Vendor Insights-

The battery market in Western Africa is fragmented and the vendors are deploying growth strategies such as technological innovations to compete in the market.

• EnerSys- The company offers Extreme series batteries, Extreme series Atex batteries, Cylcon batteries.
• Forgo Battery Co Ltd.- The company offers battery such as Auto Adamant Deep Cycle Battery 200AH.
• GS Yuasa Corp.- The company offers automotive and motorcycle batteries, traction batteries, industrial batteries, lithium ion batteries.

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Learn More about Key Driver & Challenge of the Market-

• Battery Market in Western Africa Driver:
• Shift of the automotive industry toward EV:

Stringent regulations are imposed, which ensure compliance with the Paris Agreement on climate change. EVs are considered a green solution for the decarbonization of the transportation sector. On average, EVs release half the amount of greenhouse gases (GHGs) released by conventional vehicles. HEVs combine the advantages of both gasoline engines and electric motors. Thus, the sale of EVs has been increasing steadily since the past decade. To promote their sales further, governments of several countries such as Nigeria are framing objectives and offering incentives in the form of monetary and non-monetary benefits. This will result in increased confidence among manufacturers and other stakeholders in future policy frameworks and fuel investment mobilization. Such factors will support the market growth in the coming years.

• Battery Market in Western Africa Challenge:
• Declining cost of lithium-ion batteries:

One of the key challenges to the battery market growth in Western Africa is the declining cost of lithium-ion batteries owing to improvements in production scale and manufacturing efficiency. For instance, Tesla, US-based energy storage and the automotive company aims to bring down the cost of Li-ion batteries to USD 100 per kWh with the commissioning of its Gigafactory. Companies are enhancing Li-ion batteries in every conceivable way, which will lead to a year-by-year reduction in the cost of these batteries. The product offerings of vendors manufacturing lithium-ion batteries are becoming more competitive with substitute technologies such as lead-acid batteries and Ni-MH batteries. Such factors can hinder the profitability of the battery market manufacturers in West Africa during the forecast period.

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Table of Contents

1. Executive Summary 

2. Market Landscape 

  2.1 Market ecosystem 

  Exhibit 01: Parent market

  2.2: Market Characteristics 

   Exhibit 02: Market Characteristics 

  2.2 Value chain analysis 

  Exhibit 03: Value chain analysis: Renewable electricity

  2.2.1 Inputs

  2.2.2 Operations

  2.2.3 Distribution and logistics

  2.2.4 Marketing and sales

  2.2.5 Aftermarket and service

  2.2.6 Industry innovations

3. Market Sizing 

  3.1 Market definition

  Exhibit 04: Offerings of vendors included in the market definition

  3.2 Market segment analysis 

  Exhibit 05: Market segments

  3.3 Market size 2020 

  3.4 Market outlook: Forecast for 2020 - 2025 

  3.4.1 Estimating growth rates for emerging and high-growth markets

  3.4.2 Estimating growth rates for mature markets

  Exhibit 06: Western Africa - Market size and forecast 2021 - 2026 ($ million)

  Exhibit 07: Western Africa market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis 

  4.1 Five Forces Summary 

  Exhibit 08: Five forces analysis 2021 & 2026

  4.2 Bargaining power of buyers 

  Exhibit 09: Bargaining power of buyers

  4.3 Bargaining power of suppliers 

  Exhibit 10: Bargaining power of suppliers

  4.4 Threat of new entrants 

  Exhibit 11: Threat of new entrants

  4.5 Threat of substitutes 

  Exhibit 12: Threat of substitutes

  4.6 Threat of rivalry 

  Exhibit 13: Threat of rivalry

  4.7 Market condition 

  Exhibit 14: Market condition - Five forces 2021

5 Market Segmentation by Application 

  5.1 Market segments

  The segments covered in this chapter are:

• Stationary
• Mobile

  Exhibit 15: Application - Market share 2021-2026 (%)

  5.2 Comparison by Application 

  Exhibit 16: Comparison by Application

  5.3 Stationary - Market size and forecast 2021-2026 

  Exhibit 17: Stationary - Market size and forecast 2021-2026 ($ million)

  Exhibit 18: Stationary - Year-over-year growth 2021-2026 (%)

  5.4 Mobile - Market size and forecast 2021-2026 

  Exhibit 19: Mobile - Market size and forecast 2021-2026 ($ million)

  Exhibit 20: Mobile - Year-over-year growth 2021-2026 (%)

  5.5 Market opportunity by Application 

  Exhibit 21: Market opportunity by Application

6 Customer landscape 

  6.1 Overview

  Exhibit 22: Customer landscape

7 Geographic Landscape 

  7.1 Geographic segmentation

  Exhibit 23: Market share by geography 2021-2026 (%)

  7.2 Geographic comparison 

  Exhibit 24: Geographic comparison

  7.3 Nigeria - Market size and forecast 2021-2026 

  Exhibit 25: Nigeria - Market size and forecast 2021-2026 ($ million)

  Exhibit 26: Nigeria - Year-over-year growth 2021-2026 (%)

  7.4 Ghana - Market size and forecast 2021-2026 

  Exhibit 27: Ghana - Market size and forecast 2021-2026 ($ million)

  Exhibit 28: Ghana - Year-over-year growth 2021-2026 (%)

  7.5 Rest of Western Africa - Market size and forecast 2021-2026 

  Exhibit 29: Rest of Western Africa - Market size and forecast 2021-2026 ($ million)

  Exhibit 30: Rest of Western Africa - Year-over-year growth 2021-2026 (%)

  7.6 Market opportunity by geography

  Exhibit 31: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends 

  8.1 Market drivers 

  8.1.1 Shift of automotive industry toward EV

  8.1.2 Rising demand for smart devices

  8.1.3  Increasing inclusion of renewables in energy mix

  8.2 Market challenges 

  8.2.1 Declining cost of lithium-ion battery

  8.2.2 Demand-supply gap of battery components

  8.2.3 Stringent regulations for lead-acid batteries

  Exhibit 32: Impact of drivers and challenges

  8.3 Market trends 

  8.3.1 Growing number of microgrid installations

  8.3.2 Rising inclusion of renewables in the energy mix

  8.3.3 Integration of 3D printing technology

9. Vendor Landscape 

  10.1  Competitive scenario 

  10.2  Vendor landscape 

  Exhibit 33: Vendor Landscape

  10.3  Landscape disruption 

  Exhibit 34: Landscape disruption

  10.4  Industry risks 

  Exhibit 35: Industry risks

11.  Vendor Analysis 

  11.1  Vendors covered 

  Exhibit 36: Vendors covered

  10.2 Market positioning of vendors 

  Exhibit 37: Market positioning of vendors

  10.3 EnerSys 

  Exhibit 38: EnerSys - Overview

  Exhibit 39: EnerSys - Business segments

  Enersys - Key news

  Exhibit 40: EnerSys - Key offerings

  Exhibit 48: EnerSys - Segment focus

  10.4 Exide Industries Ltd. 

  Exhibit 41: Exide Industries Ltd. - Overview

  Exhibit 42: Exide Industries Ltd. - Business segments

  Exhibit 43: Exide Industries Ltd. - Key offerings

  Exhibit 44: Exide Industries Ltd. - Segment focus

  10.5 Forgo Battery Co Ltd. 

  Exhibit 45: Forgo Battery Co Ltd. - Overview

  Exhibit 46: Forgo Battery Co Ltd. - Product and service

  Exhibit 47: Forgo Battery Co Ltd. - Key offerings

  10.6 Franerix Solutions Ltd. 

  Exhibit 48: Franerix Solutions Ltd. - Overview

  Exhibit 49: Franerix Solutions Ltd. - Product and service

  Exhibit 50: Franerix Solutions Ltd. - Key offerings

  10.7 GS Yuasa Corp. 

  Exhibit 51: GS Yuasa Corp. - Overview

  Exhibit 52: GS Yuasa Corp. - Business segments

  Exhibit 53: GS Yuasa Corp. - Key offerings

  Exhibit 54: GS Yuasa Corp. - Segment focus

  10.8 Johnson Controls International Plc 

  Exhibit 55: Johnson Controls International Plc - Overview

  Exhibit 56: Johnson Controls International Plc - Business segments

  Exhibit 57: Johnson Controls International Plc - Key offerings

  Exhibit 58: Johnson Controls International Plc - Segment focus

  10.9 Panasonic Corp.

  Exhibit 59: Panasonic Corp. - Overview

  Exhibit 60: Panasonic Corp. - Business segments

  Exhibit 61: Panasonic Corp. - Key offerings

  Exhibit 62: Panasonic Corp. - Segment focus

  10.10 Robert Bosch GmbH 

  Exhibit 63: Robert Bosch GmbH - Overview

  Exhibit 64: Robert Bosch GmbH - Business segments

  Exhibit 65: Robert Bosch GmbH - Key offerings

  Exhibit 66: Robert Bosch GmbH - Segment focus

  10.11 The Ibeto Group 

  Exhibit 67: The Ibeto Group - Overview

  Exhibit 68: The Ibeto Group - Product and service

  Exhibit 69: The Ibeto Group - Key offerings

  10.12 Toshiba Corp. 

  Exhibit 70: Toshiba Corp. - Overview

  Exhibit 71: Toshiba Corp. - Business segments

    Exhibit 72: Toshiba Corp. - Key offerings

  Exhibit 73: Toshiba Corp. - Segment focus

12. Appendix 

  12.1 Scope of the report 

  12.1.1 Market definition

  12.1.2 Objectives

  12.1.3 Notes and caveats

  12.2 Currency conversion rates for US$ 

  Exhibit 74: Currency conversion rates for US$

  12.3 Research Methodology 

  Exhibit 75: Research Methodology

  Exhibit 76: Validation techniques employed for market sizing

  Exhibit 77: Information sources

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