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The GCC rechargeable battery market is currently witnessing robust growth. Rechargeable batteries, also known as accumulators, secondary cells and storage batteries, are electrochemical devices that convert chemical energy into electrical energy. They comprise a cathode, anode and an electrolyte and are widely available in different shapes and sizes, ranging from button-sized cells to industrial megawatt systems. Some of the most commonly used rechargeable batteries are lead-acid and nickel-metal hydride batteries.
The continuous efforts of governing agencies to establish automobile companies and launch electric vehicles (EVs) are strengthening the growth of the GCC rechargeable battery market. Apart from this, the high demand for electronic devices, such as smartphones, laptops, digital cameras and tablets, has escalated the sales of rechargeable batteries in the region. Furthermore, several benefits offered by these batteries, such as their high energy density and lower self-discharge rate, are driving their sales in the region. However, the outbreak of the coronavirus disease (COVID-19) and consequent lockdownshave negatively influenced the market growth. The market will experience an increase in the overall production and sales when lockdown restrictions are uplifted. Looking forward, the market is expected to continue its strong growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC rechargeable battery market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, battery type, capacity and application.
Market Breakup by Battery Type:
Market Breakup by Capacity:
Market Breakup by Application:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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